Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-02-01
WEEKLY REVIEW.

WEEKLY REVIEW.
The Commercial and FinanIial Condition
of the Country Ms Indicated by r. G.
Dun = Co.'s Weekly Observation-Disclosures
Gain More Definite, hut Reductions In
Wages Very General-Money Still Piling
Up In New York. Business Failures. Etc.
New YORK, Jan. 27.--R. g. Dun q
Co. IS weekly review of trade, issued to-
day says:
Secretary Carlisles decision to issue bonds,
and the ea-ly reports Of large bids for them.
helped to accelerate recovery OF industry and
trade as was hoped last week. Sale of the
amount offered will check anxiety about main
tenance of note redemption. remove the only
pretext for further issues of paper. and thus
give solid tasis for greater confidence re-
garding the financial future
The revenue is still small; from customs In
January thus far $40 S05 sol, against $40 1856 6SS
last year; and from internal taxes 50, 4S5. 9s3,
against Sll.0 63. 1913. and the volume of domestic
trade is still small The increase in number
OF hands employed adds to the purchasing
power of the people. and dealers stocks are so
reduced that any sign OF larger consumption
quickly gives mills more orders In short, the
conditions are such that, If not interrupted by
adverse forces, they would naturally bring
steady revival OF business.
Industrial gain is more defnite than week
ago. Few establishments have stopped work.
while many have resumed or increased pro-
duction. and though these are not works en-
ploying thousands each. the aggregate increase
IS considerable. Reductions in wages con-
tinue, and about a quarter of them are OF 20
per cent. the rest ranging from Z to IL per
cent. In no directions are quotations OF man
ufactured products higher. but while
some have actually declined. the gen eral tone
is somewhat stronger. Thus distinct improve
ment is seen in the demand for iron products
at Philadelphia, though some of which 1t was
thought could not go lower. quotations have
been reduced. Sales OF pig are larger though
$3.50 is the open quotation for Bessemer and
Pittsburgh, and southern forge is sold for
S675 at Birmingham. the lower price tele-
graphed last week having been, 1t is stated
for a lot of inferior quality. The Tennessee
Coal and Iron Co. has made contracts for
ore which reduce the cost of prOdLc
ton 22l2 cents per ton, and lower contracts
for ore and freights are also reduced in the
cost to consumers OF lake ore. Connellsvtle
Ike is quoted at 81 per ton, with the number
of ovens in operation practically unchanged.
The increase in demand for iron products is
mainly in structural forms, cast pipe. wire
rods. barbed wire and wire nails. while in rails
and other railway iron business is remarkably
small For the fourth quarter of 1898 the re-
ported cost OF new buildings in New York and
Brooklyn was S6.221.77O. against &13 70G,215 in
the same quarter OF 1892
Textile industries have increased working
force mainly IN knit goods. underwear and car
pets. though several wooden mills have started
and others are reported about to start Sales
of wool are larger, amounting at the chief
markets 10 4.033 200 pounds against 1861 $50 for
the same week last year, but prices at Phila-
delphia are one-half cents lower. while at New
York there is more inquiry from carpet and
other mills Trading checked by disap-
pointment regarding the date at which changes
OF duty are to take effect, and there Is little
mace orders
is more clear.
In overcoatings samples Of some promi-
nent makes are not yet shown and prices are
not named. Worsteds appear to have stronger
position and a better business in dress goods is
generally reported for the week. Cottons are
not stimulated as was hoped by the reductions
announced, and the effect has been to make
buyers of other goods hold of. SO that the
market is weaker. Carpets report improve
ment and especially in lower grades, and
orders to replenish stocks after months of in
activity are nearly as large as year ago. The
shoe and leather trades appear to gain little.
though shipments from Boston for the week
are again "a per cent. smaller than last year.
Produce markets have been decidedly dull.
though wheat for May fell at one time to the
lowest point on record. Western receipts for
the week were 1885,, 9ol bushels against 3,541-
3s1 last year, and Of cori 3,452. 655 against
2753, 739 last year. Wheat exports are fnsig
nifcant and the stocks in sight are too large
for spectators or short crop prophets. Coffee
and petroleum are a shade lower. Cotton,
after decline. has advanced shade, although
receipts continue heavy.
The stock market has but slightly declined
though trusts were affected by a break OF SC per
share in sugar Railroad earnings for the last
week show less decline than for the first half
OF January. perhaps because the movement to
restore rates has some effect, but the average
for the month thus far is III per cent smaller
than last year, and east-bound tonnage is
greatly reduced. Atchison has feen reduced
50 per cent. or more. and other roads meeting
the decline created less favorable conditions
toward the close.
New York banks have again added to their
enormous stock OF money, and offers
made for a full year at per cent, the lowest
rate on record for that period. while for short
loans per cent. rules Decentralization in sill
yer was caused by abandonment OF the pro.
posed import duty by the government Of India.
and also of the fixed price for council bills at
London, but foreign exchange is not seriously
altered Domestic trade is the key of the
situation, and elearings outside New York
are 24.1 per cent. smaller than
year ago. This Is partly because the average
price OF commodities is 1873 per cent lower
than year ago. having fallen 43 per cent
since October l. while British prices, accord.
ing to the London Economist, fell Is per cent.
from October to January l.
Failures for the week have been 431 in the
United States, against 255 last year. and s. in
Canada against 40 last year. None are OF great
magnitude.