The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1895-10-02
IN BUSINESS CIRCLES.
Weekly Review of the Trade Situation by
Dun.
New YORK, Sept. 3O.-R. q. Dun
Co Sc 1uaellu rauieu, of trade saws.

NEW YORK, Sept. 3O.-R. q. Dun &
Co.'S weekly review OF trade says:
1.-THE full statement Of about $500 CONNER
cial failures for the third quarter of 1895 will
be published next week, and will show liabili-
ties Of about $50 900 900, of which about 81 000
have been Of manufacturing and $1,000, 600 OF
trading concerns. In the same quarter Of last
year the failures were 2,868. and the liabilities
$29, All 1876, Of which $12, S31 1872 we're Of manu-
featuring and SIS, ls1 ,23O of trading concerns
The weeks reports are highly encouraging as
to monetary matters, although exports of gold
still continue and also as to the cotton manu-
facture, but not rs satisfactory regarding iron.
wooden, leather or silk manufactures
1.-The speculation in cotton has lifted the
price five-eighths during the past week and
quotations here are so much higher than at
Liverpool that free exports cannot be expect
ed. 1t seems no longer possible to hope for
good crop, and Meill Bros. have issued cir
cular predicting yield of only 7,00O0O0 bales.
The accounts of injury and loss grow more
dismal each week. and while they may be
somewhat exaggerated, the general outlook is
decided unfavorable. But for the extraordin-
airy supplies carried over from last year, the
manufacturer here and abroad would be in
trouble. But prices Of goods rise each week.
adding to the profit of mills, which, on both
sides Of the ocean can use for some time to
come only cotton bought at low prices 1t is
not clear how far the consumption will sup
port the manufacture at the present rate and
at present prices for goods, though the de-
mand from dealers is naturally urgent, while
the me rlxet for the raw material is constantly
rising There is still some chance of strike
in Fall River mills, though the rise in prices
will make it easier for the mills to grant some
advance in wages
Nothing is clear about the iron and steel
manufacture, but some Of the largest Pitts
burgh concerns protesting to have orders for
many months ahead, are bidding for small
contracts in eastern markets at 81 to ST. so per
ton less than the quoted rate. Some say that
it is done to depress the market, and again il
is thought that the object may be to buy ma
terials, but contracts have been made at the
east for $50, 600 tons Of foreign ore to be used
in Bessemer iron making at eastern fur
naceS, and the termination OF the Marquette
strike sets free about 5000 900 tons more of Bes-
semer ore within the period of lake naviga-
tion The strike Of coke workers at COnnellS-
vile seems to have been avoided The Iron
Age reasons that nothing can explain the Sit
uation except some large movement in steel
rails not yet made known. For the first week
in many months the average Of prices of iron
and steel products shows no change whatever,
though the demand for finished products Is
distinctly reduced.
THE exports OF gold, though not as large as
they were some weeks ago. cause some dis
quiet in view of the diSbanding of the bond
syndicate. Money has gone to the interior
rather largely, and there is considerable in
crease In volume of commercial loans. Stocks
have slightly declined for railroads during the
week, though the market shows much stub
borlness, and trust stocks average AZ cents
per share higher than a week ago. but are now
growing stronger in tone
Failures for the week have been PIG In the
United States against 235 last year. and so in
Canada, against SIS last year.