Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-12-06
DUN'S COMMERCIAL REVIEW

The Complete Success of the Government
Bond Sale Has but Little Effect on Bust
ness-The Purchasing Power of the Coun.
try on the Whole Not Increased, and the
Price OF Farm Products No Better-A
Further Fall In Stocks.
NEW YORK, Dec. 1.-R. G. Dun &
Co. IS weekly review of trade issued to.
day says:
The complete success of the govern.
ment loan and the replenishment OF
the gold reserve have not perceptibly
affected business nor prevented an ad.
vance of foreign exchange near to the
exporting point. AS January interest
has soon to be met, and the operations
of the syndicate are thought likely to
prevent much selling of bonds to for
eigners, some exports of gold are not
improbable.
Meanwhile domestic trade and in
dustry have not been much Influenced
by the heavy defalcation in one bank
and minor disorders in two others, nor
by the failure of the Erie railway to
meet interest on its bonds. The clos
ing of sugar refineries will diminish
the industrial force more than it is in
creased by the resumption of the Beth.
lehem steel works and few other
concerns. The controlling fact is that,
although in two instances wages have
been increased, the earnings of
the working force and its pur-
chasing power are not, on the whole,
enlarging at present, and prices of the
chief farm products do not improve.
Wheat is 1 4 cents higher than a week
ago, and western receipts still exceed
asst years, amounting since July to
103, 5OO,OOO bushels. against 100, 500, ZOO
last year, while exports from all ports
have been about 100000 bushels
smaller. Corn has advanced a frac-
ton, receipts being larger than a year
ago, and on the whole the outcome for
farmers has not SO improved as to
promise larger buying by the west and
south.
The stock market disappoints those
who reckoned on improvement after
the sale of bonds. The average for
railroad stocks has declined 80 cents
per share, and for trust stocks S1.93 per
share, in part because the Shoe and
Leather robbery and other bank irreg-
ularities caused some unreasoning in.
huences, but more because the earn
ings continue uninspiring. Those re-
ported for November thus far are IL
per cent less than last year, and 10. 5
per cent. less than in 1892.
The tumble in sugar stock may be
aimed at congressional action, but the
enormous importations last summer,
in anticipation of duties, have not
efoi Nv 81
sumption. The curtailment of coal
production also lessons working force
or hours and many of the flour mills at
the west have stopped on account OF
the condition Of the market.
The great industries fairly maintain
the production previously reported, but
cannot be expected to increase at this
season. A few more iron works have
gone into operation, and the demand is
reported larger, but there is distinct
weakness in prices, especially at Pitts
burgh, and Bessemer iron, billets, nails
and some structural forms are quoted
lower. The rail combination has
agreed to a reduction of So per ton fol-
the next year. Coke contracts are be.
ing made for the first quarter of 1895
at current rates.
The shoe industry continues to dc
remarkably well for the season, and
the prospect for the spring business is
fairly good, although trouble about
prices occasions some friction.
In textile manufactures there is
more strength in print cloths. but
other cottons are somewhat irregular
and weaker. The wooden manufac-
ture still receives some orders for win.
ter goods, but the demand for spring
is much retarded by unavoidable delay
in filling orders.
Money commands better rates since
the sale of bonds, but there is scarcely
any improvement in commercial or in.
dustrial demands, and the flow of cur
rency hitherward is as large as it has
been at any time since September.
Importers make moderate demands,
and the call from merchants is only
for immediate needs. November pay
ments through clearinghouse are but
S.2 per cent. larger than last year and
$50 per cent. less than in 1892. Treas
ury receipts are small, customs 20 per
cent. and internal revenue nearly 40
per cent. less than last year, and the
deficit for the month appears to be
about SO, 100000.
The liabilities in failures for the
third week in November were So, $780,
931, against s2,2s5,6 76 for the same
week last year. The decrease was all
in manufacturing, of which the liza.
bilities were 1915, 1876, against 81 $3.50, O27
last year, while in trading concerns
the liabilities were 1896, $40, against
S1.3s4,649 last year. For three weeks
of November the liabilities have been
ss,Oss, 429, against ST, 937, AS last year.
The failures this week have been 2s9
in the United States, against 271 last
year, and Sc in Canada, against 4s las
year.
To Recount the Kansas City Returns.