The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1894-01-20
DUN'S WEEKLY REVIEW.

q Distinct Improvement In Business
Noticeable Since the Opening OF the New
Year-Exhnusted Stocks Being Repien-
ished by the Resumption of Producing
Industries-speculative Markets 1rregu-
lar and Railroad Stocks Still Declining-
The Condition of the National Treasury
business Failures Etc.
New YORK, Jan. l3.-R. G. Dun t
Co. s weekly review of trade, issued to-
day says.
Business has distinctly improved since the
new year came, and the gain Is no longer visi-
BILE only in speculative markets. II IL the only
kind OF improvement that has in 1t possioili-
ties OF lasting, because it is based upon IN &C
tual increase in the production OF industries.
AS all rejoice to see it. there is perhaps little
disposition to reckon ths gain greater than 1t
is as yet but several large establishments
have started part force hoping to increase,
and more smaller works have started than
have stopped. Orders from dealers whose
stocks approach exhaustion form prominent
cause; anotheris the widely prevalent impress
sion that action at Washington will be more
satisfactory than many have expected, and q
belief that in any case the situation will not be
changed until goods now in the works can be
marketed has weight in soms trales- What.
ever the causes, even q moderate gain is most
cheering.
The output OF pig iron January is reckoned
by the Iron Age at 9.9J7 tons weekly, which is
slightly less than December I, though the Pitts
burgh authority makes it q little larger. In
either case it Is from Al to i3 per cent less
than a year ago, and stocks OF unsold pig In
creased l9, i57 tons in December though they
decreased as much in November. SeverI
more furnaces begin production this month.
and prices show no recovery Indeed. The
LowmOor works OF Virginia have reduced the
~ . ~ nndA Ar-
is5ed products are weaker. steel billets and
bars again making the lowest price on record.
though the tone is more hopeful both here and
at the West. with n little moro business Cop
per, tin and lead are weak.
Sales of wool for the week are 2,7S6. 40
pounds at the three chief markets, against
5.i6i 800 last year. hut there is more inquiry
from wOrsted and carpet manufacturers, some
having started machinery
Overcoatings are 10 10 Is per cent lower than
a year ago. hut the deliveries OF dress goods
are larger than OF late, and the demand IL
more urgent In cotton goois there is no
definite change.
Shipments OF boots and shoes for the week
were nearly a quarter smaller than year
ago. but there Is growing confidence that the
business must soon increase.
Speculative markets are irregular. railroad
stocks having declined every day little,
though but 20 cents per share In all, the chief
cause being reduced earnings, the passing OF
the Louisville & Nashville dividend and for
eign selling of that and the granger stocks
Trust stocks averaged higher every day until
Wednesday. and are still 50 cents higher for
the week. Earnings reported for January
thus far show a decline OF ELL per cent. and OF
the last week OF December l55 per cent. west
ern lines averaging more and southern less de-
crease The heaviest tonnage ever recorded
from Chicago is at rates which result in no In
crease in earnings.
Tho Recalling statement. showing large loss
in speculation. the movement OF bondholders
in Atchison and the strife over New England
affect some home aS well rs some foreign hold
crs. An analysis of railroad earnings last year
shows that OF all classes Of all roads the coal
roads only lost in tho first half OF the year.
while this the only class which gained In
the second half.
Wheat is n shade weaker. though western re
ceipts are I.75OOJ) bushels for the week,
against 3 g3s 90 year ago. Atlantic exports
are only 670.OOl. against l.4ss0lo last year.
Stocks in sight decrease but little. and govern
ment estimates get little attention.
Corn is naturally weaker at very large re.
ceipts. though exports are 81 per cent larger
than a year ago.
Cotton has been lifted by speculation three
81 xteenthS. though the decrease in receipts Is
no larger and stocks In sight here and abroad
are big enough 10 meet nearly half years
consumption.
Bank cleirings also indicate that no large
gain has occurred as yet in the volume OF bust.
ness. being 81 per cent smaller than year ago.
Money continues to pour into this city. as II
would not II trade approached normal activity,
aad the demand is so narrow that loans are
slO0OONO0 below deposits. Foreign exchange
has risen cents in a fortnight, and some look
for gold exports again. Sales Of stocks turn
the balance, though foreign houses are offering
loans here on long time.
The condition of the treasury causes much
remark as the cash reserve is lower than ever.
and New York banks have agreed to defer in
definitely demanding from the treasury about
81 800 coo due on mutilated currency. Though
the secretary earnestly urges provision for the
future. congress has not yet touched the sub
ject and with the great stock Of gold here, the
situation is less serious than it would be other
wise.
Returns published last week attract great In
terest, as n more definite measure OF the condl-
tion Of various branches OF business than has
been obtained through other sources Addi-
tfanal returns, thirteen In number In manufac-
turing. twelve in cotton. three In wooden and
four large grocery concerns. which show an in
crease. while other branctSs show decrease.
make the aggregate CT safes by LAS concerns
saig 1860 in the last half OF 1898, against
ssi5 80 $40 in the last half Of 1892; decrease,
30.3 per cent.