Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-01-10
Dun.s COMMERCIAL REVIEW.

l Decrease
Prices of Commodities at tho Lowess
level Ever Known-The Outflow Of Gold.
Nrw York. Jan. 5.-R. u. Dun q
70 g weekly review of trade, issued to-
dav, says:
Failures for 1894 are fully reported
| this week, being 1855 in the United
States and 1,s56 in the Dominion OF
Canada. Liabilities in the United
states were s172. 992, $50, and in Canada
SIT GIG, 215. Neither the decrease OF
over half in this country, nor the
increase of over 40 per cent. in
Canada, is surprising, but the
statement shows that most OF the
decrease in the United States is in
manufa curing liabilities. while the
increase in Canada is liabilities of trad
ing concerns A few states, including
New York and Pennsylvania, show
more failures than in 1898, and in a
few southern states, the amount OF
liabilities is larger, but in the central
and western states, very much smaller
In eleven of the last thirty-eight years,
reported liabilities have been larger
than in 1894, though for this
wear. and 1898, the statement
is confined to commercial failures,
i
failures have been 1875 in every 1000
| firms doing business; the liabilities
have averaged S132.77 to each firm in
trade, and in proportion to the value
of solvent business represented by all
| clearinghouse exchanges $2.63 for
| every $1,000.
The complete review of different
branches of business given to-day
/ 81 kl>n ont hot
prices of. commodities are at the low
| est level ever known. Eightyears ago
in July. prices averaged only 70. SO per
cent. of the prices for the same arti-
ticles. and in the same markets Janu-
airy l, 1860, and this remained the low
est point ever touched until August 10.
1898, when the average fell to 72.76.
but early last year prices dropped
below all previous records and
have never recovered, the av-
erage, December 20, being only
s.73 per cent. of the price in 1860. The
range was very little higher at the
end of the year and about as low Octo-
Der 25. The fall since year ago has
been 5k per cent; but very unequal in
| different branches. In iron and steel
products IA per cent, in wool 1874 per
|
about Is per cent. These changes con-
trast sharply with the decline of wages
paid per hours work, which, as was
shown last week, average only Ia per
cent. less than year ago.
The volume of business represented
by exchanges at the principal clearing
houses was S156, $50, 900 daily in Deem
Der, against Sal, 604, 900 in January;
l~,.% o 4 In. n tI.n
| last year, while 35 per cent. less than
| last year in January. Comparing with
| 1899, year of general prosperity, the
decrease for December was 26.1 and
| ranged from 2l.7 to 800 below that
| year since June; but at the beginning
of the year was 1913 per cent. below
| 1892, and ranged from % to 81 per cent.
| below that year, for the first five
| months.
The exports of S4.550, 600 gold this
week are not because of merchandise
| movement, for the excess of exports
over imports of merchandise has
| been from $40, 900 to $40, O0O,-
600 per month. Unquestionably large
Withdrawals of foreign capital,
through sales of securities and other
wise have caused the outgo the dura-
ton and extent of which, therefore,
depends upon other than commercial
elements.
Extraordinary abundance of money
has resulted from the general dullness
of trade, and the movement to this
center has been unprecedented in vol
ume.
The condition of industries has been
largely governed by the fall in prices,
and while production is much greater
| than a year ago, the aggregate in
| crease being fairly measured by the in
crease of s.24 per cent. in hours of
| work done in November, compared
with the previous year, it has been the
controlling feature in almost every inn
portant industry that consumption has
not kept pace with the output, and has
| not sustained prices.
The wooden industry records pro-
duction for the year of about a quarter
less than nominal, and for the last
four months 2S.47 per cent. less than
in 1892 in quantity of wool consumed,
but in value of product the decrease
was, of course, greater.
The cotton industry, while materially
close to the cheapest point ever known,
keeps most of the mills at work, but
by selling goods at prices quite un-
precedented.
The output of boots and shoes has
been the largest known in number of
pairs, but besides fall in price below
all records, there has been a general
preference for the low-priced goods,
and the attempted advance on account
OF the rise in leather caused a marked
decrease in orders.
The year has been especially note
worthy for the lowest prices of wheat
and cotton on record. Both suffer
from wholly unprecedented accumula-
ton OF stocks, crops being larger.
Outside this country, wheat produc-
ton has not decreased enough to JUS
tify price of 60 cents ut New York, and
the accumulation is largely due to false
reports of yield intended to brighten
buyers and raise prices. The same in
fiuence has been felt in cotton, which
is also affected by worldwide depres-
sion in business and decrease in con-
sumption of goods.
Wants IN Increased Appropriation for the
National Guard.
JEFFERSON CITY, Mo-, Jan. SIN his
message to the legislature yesterday
Gov. Stone asked for an increased ap-
preparation to maintain the national
guard as a positive necessity and be-
cause an adequate militia force re-