The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-12-21
GLOOMY VIEW OF TRADE.
Dun's Weekly Statement Is Anything but
Encouraging to the Average Business

""" "Se"iS StatShcut IS Anything out
Encouraging to the Average Business
Man.
New York. Dec. 20.R. G. Dun & Co.,
In their weekly review of trade, will
say tomorrow.
Failures for the week have been 377
In the United States against 349 last
year, and 32 In Canada against SO last
year. The strong Americanism of the
presidents message has given its char
acter to the week. Popular feeling was
profoundly moved, but excepting in
stock and cotton markets. business was
remarkably dull and scarcely affected
Selling of securities held abroad was q
natural first impulse. though the sell
ers are not unlikely in time to discover
that no other securities are safer from
international complications that the
American. Cotton has declined a quar-
ter and wheat about two cents.
Not because of any foreign question.
but solely because of Influences which
nave been in continuous for months
prices of manufactured goods continue
TO decline. There is no great change
in boots and shoes. though gradually
lower prices are offered. Leather still
declines, though hides at Chicago are
scarce and stronger. Prices Of iron and
steel have fallen about per cent for
the week, and are now per cent. be-
low their maxium. bessemer pig and
grey forge, and most kinds of finished
products having yielded more or less.
Purchases by the great steel companies
II Is now evident, were much in excess
Oh thelr actual consumption, and IL ia
peHeVed that some furnaces will have
10 suspend production, as the, demand
for manufactured products is too small
10 support the output, estimated for the
year at 9,3s7,C tons by the Pittsb,rr.
American Manufacturer. Minor metals
are weaker
1t sounds strange to hear the MANY
complaints OF slow collections and scar
Guy vi money at the west, on account
OF the tardy movement of products
IRON the farms, when western wheat
receipts in three weeks have been 1s.
Glb,49S bushels aginst 9,436. 1924 last year
while Atlantic exports, -four included
are only 5.Sl2,337 against 6.453, 100 last
year. Grain is so low that free move
ment cannot be expected, and vet the
receipts are so large that, the crop re-
naming behind must exceed ordinary
estimates.
The stock market went all to pieces
on Friday and closed SO per share lower
than n week ago for railroads, and 81. %
per share for trusts. On Friday alone
the four prominent railroad stocks fell
an average of $5.62 per share, and the
five more prominent trust stocks s3.S7
per share, much of the selling being of
securities largely held abroad.
Conflicting Run,ors.
Philadelphia, Dec. 2O-The strike sit
uation Is a worse muddle than ever
from all appearances. At l o'clock this,
Saturday, morning 1t was announced
that proposition submitted to the
mayor by the Rev DR. Baker and George
Grifliths, representing the Christian
League, had been laid before Mr.. Welsh
and acceded to by him on behalf of the
Union Traction company. The propo-
sitiOn Is as follows:
If tho men come back and return to
their work and peace is restored, the
Union Traction management will cor
daily and CONSIDERABLY receive any
committee from the ranks of it's own
employees and will respectfully and
kindly hear their complaits and griey-
ances that they may offer and VIII rem
edy the same within the range of fair
ness"
DR.. Baker and Mr. GrifIiths were as.
sured that this proposition had been
accepted by Mr.. Welsh. They immedi.
ately hurried to the headquarters of the
strikers and laid it before the executive
committee of the strike board and me
committee Immediately accepted it.
The committee thereupon started out
In cabs to notify the men to report for
duty tomorrow morning.
General Manager Beetam, of the
Union Traction company, answered n
telephone call at 1.3O a. m. and denied
absolutely that the Union Traction
company had made any such PROPOSE
tion or would come to any such under
standing with It's former employees he
said that If the committee had declared
the strike off 1t was because that were
beaten at every turn. The outcome of
this singular complication must be
awaited this morning.