The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-04-27
DUN'S TRADE REVIEW.

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Weeks Failures.
NEW YORK, April 2O.-R. G. Dun &
Co.'S weekly review of trade, issued to-
rday, says:
In every speculative department
business is growing, but this is the
least satisfactory of the situation.
Cotton and wheat climb above the ex-
port prices, so that the marketing Of
products abroad must be checked, and
money is absorbed which ought to be
employed in productive industry and
in distribution of products to consun-
ers. Everybody knows that oil has
not risen 200 per cent. because it is
intrinsically more valuable or is
actually worth more than it was two
or three weeks ago, but the expansive
and uplifting force has unfortunately
taken to speculation rather than to
production, and so we have higher
prices in all speculative markets with
out a larger demand for consumption.
Stories of combinations between the
Standard Oil Co. and Russia as to par
tition of The oil-cOnsuming territory is
by no means the cause of the advance
of petroleum. There is no evidence
that cotton is in larger demand
than it was when the price
was a cent lower, but prices
have been so low for months that
upward movement was easier without
much reason, though stocks here and
abroad are 800, 900 bales larger than
they were at the same date after the
greatest crop ever produced hereto
fore, and spinners here and abroad
have taken about 1,6OO, 600 bales more
than they have consumed. Wheat has
been much firmer; western receipts
are not large, and it would be strange
if they were, with prices low, but adj
vancing. Exports continue to indicate
that the European demand will not be
particularly heavy this season.
Outside of speculative markets, the
most important feature is the rise in
the price of beef, but which is largely
due to the control of sources of supply
by a few strong corporations. There
ought to be. but apparently is not,
sufficient power in the hands of the
government to meet any such con-
spiracy against the puplic, and
the proposal of Secretary Morton
to admit Mexican cattle and cat
tie from Canada on easy terms
for the benefit of consumers, is heart
lily commended, though it is not likely
to have much influence. The actual
decrease in receipts of cattle at the
four chief western markets has been
200, 600 head during the first quarter of
1895, and the quantity killed has been
only so, 900 head less than last veal,
about 10 per cent, but facts have little
to do with process in this case, as in
the case of oil.
Boots and shoes are in larger de-
mand, although the jobbers have to
pay ten cents or more above the prices
paid two months ago, and there are
more orders than the advance at first
demanded. Except from the west,
there are indications of a larger con-
Stunning demand, but OF the whole the
market is perceptibly by the
advance which higher prices for leather
have occasioned.
In iron and steel the situation is
rather disappointing, although the
output continues large, as the demand
for finished products does not seem to
increase. Structural forms are in
large demand, but sales of wire are
about 80 per cent. less than last year,
and in other branches there is no per-
ceptible gain. 1t is still an open
question whether the consumption
will support the manufacture at the
present rate, which is at least one
eighth below the present maximum.
Some larger textile mills have ad-
vanced wages at Fall River about 10
per cent, restoring the rates paid be-
fore the reduction in September, 1898.
Labor troubles are comparatively less
serious this week, and the tendency is
toward larger returns for labor, which
will increase the consuming power for
other products. Cotton mills are en-
couraged by improving prices and are
fairly busy.
Sales of wool at the three chief east
ern markets have been 1884, 800
pounds for three weeks of April,
against l4,6O2, 500 last year; which in
dictates that the production of goods is
1T pTSSSht SCI lIdh / Ado DCCh Il l
any other time for nearly two years,
and while foreign competition is
seriously felt in some branches the
manufacturers are making a vigorous
effort to retain the home market even
in lines which at one time they eX-
pected to abandon.
The volume of business represented
by exchanges through the principal
clearinghouse is only 81 per cent.
larger than last year, for the week,
and 24.5 per CEN. less than in, 1898,
about half the decrease being due to
the lower range of prices.
The money market has been firm.
Foreign trade shows a heavy balance
due abroad, and gold would I'M
doubtedly 60 out in large amoun but
for the negotiation of bonds by the
syndicate. The government deficit for
the month thus far is over SO, OOO, 900,
and no reason appears to expect that
it will much diminish.
Failures for the first Il days of
April amounted to 50, 413, 765, of which
s l,424,23S were of manufacturing and
81, 952, 527 of trading concerns.
Failures for the week were PAL in
the United States, against 219last year;
and 81 in Canada, against Is last year.
A GERMAN OPINION