Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-01-25
WEEKLY TRADE REVIEW.

i
The Most important Event the Offer Of
05O.OOO,OOO United states I3onds-In-
dustrfal Improvement Continues, Though
Slowly. with General Reduction in
Wages Speculative Markets Weaker
and Idle Money Constantly Accumnla-
inC-Business Failures, Ect.
NEW YORK, Jan. 20.-R. g. Dun &
Co. weekly review of trade, issued to-
day says:
The event OF the week is the offer OF s5o.oo0.-
900 United States per cent. ten-year bonds
The decision of the secretary gives much salts
faction to all who care for sound currency.
becaused the necessities of the treasury were
dangerously strengthening those who urged
the issue of $50 900 90 moro silver certificates
against silver 'seigniorage' to be coined. The
gold not represented by certificates has fallen
below S70OO0,O0O The revenue continues
to fall below that of last year about
S., 900 per month, and action in congress on
various financial measures is liable at any
time to excite doubts whether gold payments
can be maintained. Hence replenlShment OF
the gold reserve was necessary to a restoration
of confidence and revival OF business The
immediate effects were not great, though Lon
don, after selling American securities largely
several days. bought to some extent. but II
subscriptions for the loan should be free and
large. it is hoped improvement in trade and in
dustry may be fastened
gain is small and increase in the purchasing
power Of the people by enlargement of the
force at work is in measure modified through
reduction in wages paid. During the past
week dispatches have told Of reductions aver
aging Is per cent. in fifteen iron and steel
works, and averaging 1871 per cent in eleven
textile works. five. employing thousands OF
hands each, having reduced wages % per cent
Meanwhile twenty-five textile and eleven iron
and steel concerns resumed wholly in part.
nSf faa1 ayfi Ia anH fn.Ir iron
Germs stopping or reducing their forces. The
volume OF business done has increased in lead
ing branches, but not largely; cearings fall
below those OF last year for the week 222 per
cent. and uncertainty regarding the future as
yet prevents the ventures essential to prosper
activity.
Textile works resuming are mostly carpet
and knit-goodS concerns, with some worSted
works Sales OF wool for the week have been
3.1S95OJ pounds against {. 082 800 last year, and
the proportion since January has been about
the same. Though more mills are at work.
and there is more speculative buying. prices
nevertheless decline, that sales at Boston
are about one cent below prices asked two
weeks ago. Lowell brussels carpets have been
reduced cents. The demand for wooden
goods increases but is very small, and is
largely confined to goods OF low cost but
known repute for quality, and trade in dl ess
goods is decreasing. An amendment defer
ring the change OF wool duties was expected by
some to increase business, but did not pass.
Cotton goods are weaker. Lawrence brown
sheetings at A cents; low grade bleached at
"A cents; print cloths at ga cents. with dull
market; American shifting prints at 3al cents;
Merrimac prints at 4. and Lancaster and Amos
keag ginghamS at ano Az cents.
In silk manufacture the depression is indi-
Gated by imports of raw silks for six months.
not a third as large as those of a year ago
Most shoe manufacturers doing little
more than half the usual business, though
some are well employed, and the shipments
from Boston this year thus far have been 20 per
cent. less than last year to date
Again there is reported more business in iron
and steel products. but at lower prices. Steel
rails were reduced January 1, to s24 per ton.
and at Pittsburgh steel billets selling at
Sl5.75, steel lars and tank steel at 1.2
cents. beams at 1.35 and wire rods at So. 80.
At Philadelphia consumption increases very
little and the market is all In the buyers.
favor. At Pittsburgh bessemer pig is quoted
at SIO75 or less. and contracts for coke are
made at 81 for six months. while some south
ern forge iroa is sold ut a price yielding only
s.. so at furnace
Structural work is in fair demand and there
is more business in wire-nails at IL cents, but
no improvement is seel in bar or pipe. Chi
cago reports increase in structural work, but
lower quotations, though the Iroquos furnace
is about to start.
Speculative markets have been weaker,
though wheat is once ighth higher, with in
creaslng stocks and small exports, and corn is
three-quarters higher.
Cotton has fallen, as receipts continue much
larger than year ago. and the demand for
consumption is narrow. Lard and coffee are
lower, but oil was advanced a cent. with large
trading. Prices of stocks were lifted on Mon
day. but depressed by London sales Tuesday
and Wednesday, and the quick rise on Thurs
day, after the offering of bonds, did not last
through the day. though progress in reorgani-
cations gives some strength Earnings for
January thus far are 1874 per cent below last
years, and large shipments over trunk lines
still fail to correspondence swell receipts
Gain in retail distribution of products is
still small: imports at New York show for jan
uary thus far decrease of more than 30 per
cent. while in exports hence gain OF ST.. $780,
OJO or nearly 20 per cent, appears. There is
no thought of movement of gold, ass London
sends stocks hither to settle for products. The
excess of exports over imports in December was
SAB 600, Ooo but the exchanges seemed to fore
shadow gold exports.
Greater confidence abroad in the financial
future would be of especial service in coming
months. Idle money constantly accumulates
here. and trust companies offer six months
loans at per cent. yearly, while per cent. Is
the prevailing rate on call.
Failures for the week have teen 4d7 in the
United States. against 800 last year, and 40 in
Canada against AZ last year.