Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-05-17
DuN.s TRADE REVIEW.


Serious Effects Of the Coal Miners strike
in the Closing Down of INDUSTRIAL
works-Foreign Shipments Of Gold and
the Depletion of the Treasury Reserve
the Most Dlsquieting Signs Of the
Times.
New YORK, May 12.-R. G. Dun q
Co.'S weekly review of trade, issued to-
day, says:
The strikes begin to have q serious. though.
1t is assumed. only temporary effect. the
number OF works depending upon supplies OF
bituminous coal or coke for fuel is large, and
quite considerable proportion OF them have
already been compelled to stop operations.
No doubt the proportion is larger In iron
and steel manufacture than any other Dusl-
ness, but nearly third in capacity II the iron
furnaces at work month ago appear to have
closed. Some railroads at the wess are en-
barrassed. and textile works of some import
ance must close soon unless the strike ceases
The movement of so-called armies OF the UNI
employed on Washington has caused little ex-
element and Is less important or significant
than the outward movement OF specie, which
shows shrinking foreign demand for products
and further withdrawal OF fereign capital
But neither strikes nor foreign distrust long
retard the progress of this country.
The capacity of iron furnaces in blast May
was 11O,210 tons, a decrease OF 16.512 tons dur
April: but the Iron Age has Geographic re-
ports of stoppage by other furnaces having q
capacity Of 25U92 tons, including some ex-
pected to stop this week, which would mean q
decrease of about a third in product since
April l. The fact that prices of same grades OF
pig iron, especially Of foundry, show weak
ness. Notwithstanding there has been no in
crease in stocks unsold, seem to indicate that
about as large proportion OF the works using
pig iron as material has also been compelled
to stop. and it is stated that in the Pittsburgh
region close the end OF their SUD-
plies OF fuel
Prices OF finished products are fully main
tanned and many kinds have advanced little
but it is noticed that the demand is not as
large as was expected, and while an early ter
mination OF the strikes is hoped for, the ap-
pointment OF committees to negotiate regard
ing wages for the coming year brings atten-
ton to the fact that existing conditions do not
favor any advance in prices, or in cost of pro-
duction. In minor metals, no industrial change
Of Importance appears.
The textile manufactures are not improving
In position or prospects, for while orders do
not increase, uncertainties in regard to labor
grow more serious. The working force shows
much unwillingness to accept for another sea-
son the wages which were temporarily adopted
In order to have works reopened after last
summers suspension. The apathy OF buyers
in cotton IS reflected in further decline of
print cloths, although some qualities OF goods
have advanced slightly.
Sales OF wool again drop considerably below
those Of the same week last year. Though or
ders for woolens are far below the probable re-
quirements for the next season, few manufac-
turers are bold enough to make up goods In ad-
vance of the demand, while clothers are very
cautious. The dress goods department has
much the best of the business. though its pro-
duction is considerably smaller than usual.
The speculation In grain has again broken
records with the lowest price ever made for
wheat. although western receipts are a little
smaller than year ago, while exports are also
smaller by more than quarter. The prevail
ing belief is that the yield WILL as In other
years. far exceed government indications.
which are again pointing to short CROP
Corn has changed in price but little and pork
products have been fairly steady. with oil and
coffee unchanged, but cotton is weaker In TONE
although receipts from plantations are little
smaller than year ago. 1t Is a striking evil
dence Of the general want of confidence that
there is so little speculation while money Is
abundant almost beyond precedent
Nothing has occurred to strengthen railroad
stocks for the earnings of railroads continue
about as much behind last years as they were
in April or March. Rates cut in most
destructive fashion, in spite OF all the talk
about ironclad agreements, and the prospect
OF foreclosure for some great railroads in de-
fault tends to dishearten holders. The aver.
age price of sixty active railroad stocks is,
nevertheless, only % cents lower for the week.
while the audacity OF spectators in sugar has
age Is cents lower.
Large exports OF gold. which are SO far ex
pected to reach $1,000. 600 this week. have
checked hopefulness in the stock market. and
the decline of the treasury gold reserve below
e94 600 600 suggests the possibility that contin
ued exports of the precious metal may cause
not little trouble before the season is over
But at present the banks are only gratified, as
the accumulation OF money from the interior
has not ceased, while the demand for CONNER.
cial loans does not yet enlarge,
One large failure about doubled the aggre-
gate Of liabilities for firms failing in the week
ending May 8. which would otherwise have
been quite small, but were g. ,992, 1914. The
number and the general average of liabilities
are still encouragfngly shrinking For four
weeks OF April the liabilities reported were
g. S26s62. of which %. 6s7. 220 were of manufac-
turing and 81, gu, 500 Of trading concerns.
The failures this week have been 2O6 in the
United States, against 257 last year. and AZ
in Canada against % last year, with none of
especial Importance although four bank fail
ures are included