Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-02-22
WEEKLY TRADE REVIEW.

Prospects Are BY No Means Rosy-A Week
of Record breaking in Low Prices
Wheat Lower Than 1t Has Been In
Seventy Years. Cotton Declining, Stocks
Ditto and Textile Industries About 1t .
Standstill--Business Failures, Etc.
New YORK, Feb. 17.-R. G. DUN 4
Co. IS weekly review of trade, issued to-
day, says:
This has been q week Of record breaking. In
wheat, in silver, in some forms OF Iron and
steel, in Connel1sville coke and in wellknoWn
cotton and wooden goods the lowest prices ever
known have been made, and 1t is gratifying
that failures of Importance have not resulted.
The great fall in wheat had percepttble In
huence upon the tone OF business generally,
and there was less confidence In Wall street,
less improvement in manufactures ana o
greater decrease in the volume OF payments
through clearinghouses, which were 81 per
cent. less than q year ago outside New York
and 1877 per cent. less than year ago here,
Notwithstanding unusual transactions In grain.
While 70 action especially bearing on business
prospects was taken in Washington. the con.
tinued discussion of revenue and monetary at
fairs and the uncertainty regarding them have
a constant and unfavorable influence, and in
different markets have caused sudden Huctua.
lions in prices
Wheat at 6oss is not only lower by ~ than it
was for single day last year. but lower by Y
than 1t had been In the previous seventy years.
A visible supply Of over 100000 bushels. Feb
ruary l, with sales and receipts from farmers
continuing large have completely destroyed
faith in the official reports OF the yield last
year, and caused enormous liquidations. Re-
ceipts last week were 1.s91 1874 bushels, against
2,9O1, O4S for the same week last year; but At
lantic exports were only $50 96s bushels. against
1,O13,O15 last year. and the recent decrease In
foreign demand has been an important factor
Some trust companies have arranged to ad-
vance money against wheat as collateral Sc
curity, but with results not as yet encourage
lug.
Cotton declined an eighth, with increasing
distrust of short crop estimates. The receipts
from plantations this week have been larger
than year ago, and at time small enough
to support the idea that the crop OF 1893 was
but DOC, 900 bales. which would mean that less
than SOC, 900 bales have yet to come into sight
in over six months.
The slight recovery in prices Of iron prod
ucts has not been maintained. Bessemer pig
has declined at Pittsburgh to $40 e5 and gray
forge to So. IS. and steel billets are sold below
SIG there. while at Philadelphia most rolling
mill products are lower than ever. The de-
cline is the more noteworthy because an in.
crease in demand is reported, both in western
and eastern markets, especially In structural
forms at the west and here, where several
large buildings are projected The demand
for wire rods. nails and fence continues re-
markably large and sustains prices; but nails
are stagnant.
est price ever made. and while the output IN
creased. for the week 1853 tons, only 81 per
cent. OF the ovens are in use.
Heavy reductions in the price OF lake ore
Is reported, with large contracts at g. rs, Cleve-
land delivery. Minor metals are weaker, with
restricted consumption.
Shipments of boots and shoes from the east
are 10 per cent less than a year ago, with
cheaper grades predominating in orders and
in manufacture, and not so many factories fully
employed
Textile industries do not seem to have
gained within the past week. for many
works have closed as have resumed work, and
In wooden and cotton manufacture more. There
has been a sharp break In print cloths to 2 Y
cents. some of the best-known cottons have
been put at the lowest prices ever made. and
there is more talk of general closing OF mills.
Some wooden mills OF large Importance have
stopped, one because reduction of wages was
resisted. and in textile works such reductions
have been more numerous and larger than in
any previous week.
The demand for wooden goods does not i'm
prove and sales of wool decreased sharply at
ter the brisk activity two weeks ago, being
only 4,114,59l pounds for the week, against
5,e263OO last year. Though some grades are
scarce and prices relatively higher west than
here. the markets do not advance.
Stocks have been weaker with the falling of
wheat, those OF granger roads declining over
81 per share in most cases, and the New York
Central also, in spite of the fact that trunk
lines and granger roads showed much less de-
crease in earnings than in any other recent
week. The average decline in railroad stocks
was IA cents per share. and the decrease in
earnings OF roads reported for February ia
but per cent, though the decrease in
east-bound frelghts from Chicago are 1871 per
cent. The weakness in railroad stocks Is in
part due to violent fluctuations in trust stocks
and the break in sugar, which fell S. per
share. with heavy transactions. The average
for such stocks declined $40 25 per share, being
especially Influenced by reports regarding
legislation. London bought some shares, but
not enough to affect exchange materially, and
the rates for stocks advanced with few COM
mercial bills offering, nearly to the gold
exporting point.
Exports of merchandise were about 100000
smaller for the week than last year. and for
six weeks the increase has been only So, 100 900,
or ~ per cent; but imports eastward were lit
tie more than half as large as last year, and
for the year thus far the decrease is about ~
per cent.
There is no change OF Importance in money
markets, with no increase in commercial
loans.
Failures for the week have been 1872 in the
United States, against 1877 last year, and IS in
Canada, against SO last year.