Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-07-12
DUN'S COMMERCIAL REVIEW.

The Usual Signs Indicating the Business
Outlook Rendered vaIueIess by the Strike,
| Which, However, Has But Little Eject on
| the Price Of Railroad Stocks-An Encour-
aging Reduction Shown In the Num-
| Der Of Failures.
| NEW YORK, July 7.-R. G.. Dun &
Co. IS weekly review of trade, issued to-
day. says:
The interruption Of business by the railroad
| strikes has been such that the usual signs,
whether bright or gloomy. have little value.
Stocks are notably unaffected and close with a
decline OF only IA cents per share because 1t is
commonly believed that the struggle cannot
| last and will be followed by quick recovery Of
| any loss. Railroad earnings show a decrease
OF 215 per cent. for June. against 20 for May.
the main trunk lines at the east, the west
and especially at the south averaging less, and
| the other reads more; but these returns refer
to riots prior to the strike. Clearinghouse re-
turns for the first week Of July are 1872 per
cent less than last year and 25.I per cent. less
than In 1892: but these record half-yearly set
Elements rather than the volume OF current
business.
The senate has passed the tariff bill, but in
sucn shape that no one ventures to risk much
on its passage without further alteration.
Speculation In products has turned largely
upon temporary uncertainties but meat prod
ucts have been higher, with threatened fam
Inc here and the probability that large guam
titles will be spoiled at Chicago, while i'm
proved crop prospects have depressed wheat
IL per cent. The crop year ends with narrow
exports, though little larger than OF late,
and the aggregate for the year has been not
far from 165, 100000 bushels. -four included.
though at the lowest average price ever known.
The years receipts at western ports were
about 49, 900 bushels against 249 900 tho
previous year.
Cotton promises well and the stocks in
sight here and abroad are so large that specu-
lation for an advance is difficult. With two
months OF the crop year yet remaining over
100000 bales have already come into sight,
and there Is strong promise OF much larger
yield this year.
The iron industry had not yet recovered from
the coal miners strike when it was seriously
interrupted by the blockade OF railroads at
the west An obvious effect was the restriction
OF repair and car building and Of track laying,
and the track laid during the first half Of 1894
has been only 495 miles-the smallest addition
for many years-against ,0s5 In the first half OF
1893. large and somewhat lasting reduc-
ton in the demand for iron is the natural con-
sequence OF disturbances affecting railroad
earnings. The demand for iron products does
not appear better and prices are again tending
downward in spite Of the general feeling that
an advance must follow the termination OF the
miners strike.
The demand for boots and shoes Is slightly
better as to choicer grades particularly Of
women's goods and the shipments from the
NJ
Textile manufactures do not show improve
ment-two important cotton mills manufac-
turing cotton goods having stopped indef-
nitely, while the unsold stock Of print cloths at
Fall River and Providence has reached O6f,-
600 pieces and downward revision in prices
OF bleached sheetings is expected.
The government has closed it's fiscal year
with a decrease Of $sS 9l9,272 in revenue, and
has now to make numerous payments which
have been deferred, while from other causes
I'll
On the other hand, payments to avoid new
taxes, particularly on whisky, are likely to be
made, and may compensate for the loss in GUS
toms receipts this month. Bankers are,
therefore, calculating that the point OF danger
Is passed. especially since gold exports have
about stopped amounting to only $3500OO for
the week.
The failures in the second quarter Of Isas
were 2733. against 3f99 last year. and the
amount OF liabilities in commercial failures
only s37 595, 973 against 3G3 .9s2. 179 in tho
first quarter Of the year, and 1921 81 ,239. in
Guiding all reported In the second quarter OF
last year There Is heavy decrease in manu-
featuring liabilities--sl3,421,12f, against $27.-
9of.g78 in the first quarter. and also in trading
liabilities SIS w. against s33, 100 1856 in the
first quarter. Thus. In the important
classes, the commercial failures show
most encouraging improvement during
the second quarter, though the half yearly re-
turn is large The aggregate for the half year
-7.O3f commercial failures. with s1O57S. 1872 liza
bilities-has not been surpassed in the first
half Of any year except the last. There was a
great decrease in banking failures. which num-
bered only 81, with liabilities Of S13 461. and
in railroad receiverships, which numbered II
with sf6.sO06a5 OF indebtedness exclusive OF
stock.
Failures during, the week have been 1871 in
the United States against 3yf last year, and "a
In Canada against % last year with no import
tant disaster yet since the new half-year
began