The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1895-04-26
BUSINESS OUTLOOK.
Trade Is Growing in Every Specu.
lative Department.
Upward Movement In Wheat, Cotton
Beef. oil, Etc.-wages OF Textile Mill
Workers Are Advanced-Ths
Failure Record.
New YORK. April 2o.-R. G. Dun 4

New YORK. April 2O.-R. g. Dun Il
Co. S weekly review OF trade says:
"In every speculative department business
is growing. but this is really the least salts
factory feature or the situation. Cotton. oil
and wheat climb above the export price. so
that the marketing OF products abroad must
be checked and money is absorbed which ought
10 be employed In productive industry and in
distribution OF products TO consumers.
The Boom In Oil.
Everybody knows that oil has not risen 200
per cent because IL is intr!nsically more valu-
able nor is wheat actually worth more than IL
was two or three weeks ago. but the expensive
and uplifting force has unfortunately
taken TO speculation rather than To
production, and we have higher prices in
all speculative markets without a larger de-
mand for consumption. stories OF combina-
lions between the Standard Oil company and
Russia. as To- partition OF the oil consuming
territory. by no means account for recent
prices OF petroleum.. which appear To be en-
tirely fictitious
Advance In Cotton.
There is no evidence tEat cotton is In
larger demand than ii Mas when the price was
cent lower but prices have been so low for
months that an upward movement was easy
without much reason, though stocks here and
abroad are 100000 bales larger than they were
at the same date after the greatest crop ever
produced heretofore, and spinners here and
abroad have taken about l,CO0,0OO bales more
than they have consumed he rise tends To
prevent the decrease of acreage which is Its
one reasonable excuse.
Upward Movement in Wheat
Wheat has advanced over three cents dur
ing the past week There Is no indication that
the foreign demand will increase. while the
prospects for this years crop are considered
excellent. Western receipts are not large, ana
h..g ..fth
so low, but advancing Exports continue to
indicate that the European demand will not
be particularly heavy this season.
Rise In Beef Prices.
Outside the speculative markets, the most
important feature is the rise In the price OF
beef, bu. which Is largely due to the control OF
sources OF supply by a few strong corporations
There ought to be, but apparently is not, suf-
hcfent power In the hands OF the government
TO meet any such conspiracy against the pub
tic, and the proposal OF Secretary Morton to
admit Mexican cattle and cattle from Canada
on easy terms for the benefit OF consumers, is
heartily commended, though 1t is not likely to
have muck influence The actual decrease in
receipts OF cattle at the four chief western
markets has been 100000 head during the first
quarter Of 1895 and the gu nifty killed has
been only $4,000 head less than last year. about
10 per cent. but facts have little to do with
prices in this case, as in the case of Oil
Wages Advanced.
Some large textile mills have advanced
wages at Fail River about 10 per cent, reStor-
ing the rates paid after the reduction In Sep
tember 1893 Labor troubles are compara-
lively less serious this week. and the tendency
is toward larger returns for labor, which will
increase the consuming power for other prod
ucts. The cotton mills are encouraged by inn
proving prices and are fairly busy.
Other Features.
The hopeful outlook for the principal crops
gives much announcement, and also the in
crease in distribution OF merchandise. The
volume OF business represented by exchanges
through the principal clearing houses
is only 3.2 per cent larger than last year
for the week and "a per cent less than
in 1898. about half the decrease being due TO
the lower range OF prices Money markets are
comparatively dull and the accumulation from
the interior continues, although there is no
material mel ease in the commercial demand.
Foreign trade shows heavy balance due
abroad and gold would undoubtedly go out in
large amount but for the negotiation of bonds
by the syndicate. The government deficit for
the month thus far Is over $40, 90. and no
reason appears to expect that it will much
diminish.
The Failure Record
Failures for the first eleven days of April
amounted to S3Il3,761 OF which Si,42423s
were of manufacturing. and IL 49,. 527 of trad
ing concerns Failures during the past week
have been ~ in the United States against PIG
last year. and "a in Canada, against - Last
year