Iron County register., 1895-05-09
Dun.s COMMERCIAL REVIEW.

l
Is Not Shrinking. but Enlarging-Impa-
| thence to Realize tho Principal obstacle
to Full Recovery.
| New YORK, May 4.-R. G. Dun q
Co.'S weekly review of trade, issued
to-day. says:
! Business begins in May in better
condition than at any other time since
tho breakdown in May, 1893 Smaller
in volume than then, it is not shrinking,
but enlarging. The chief obstacle to
more complete recovery is the anx-
| iety of the many to pluck the fruit be-
| fore it is ripe. Holders of some sta
| pies have lifted them SO far as to pre-
| vent their marketing; consumption OF
materials in some branches is checked
by advances which cannot be realized
| for finished products; workers in some
| industries are demanding wages that
cannot be paid out of any business in
| sight.
But in spite of labor troubles and
| speculative excesses, the outlook
brightens, money markets continue
healthy, and with heavy sales of rail-
| way bonds abroad, the deficiency in
public revenues. ss,742, $40, in April.
| causes no apprehension. Demands for
full restoration of wages to the level
| of 1892 have closed many woolen mills,
| and threaten to close others, employ
ing about 5000 hands. at Olneyville
| and about Providence, and have ar
rested work at other mills of some i'm
portance already. Similar demands are
made in the cotton mills of Massachu-
setts. The strike which closed iron
furnaces at New Castle, Pa, has just
broke up without success
But other strikes have stopped up
numerous works about Pittsburgh;
Pocahontas coke workers are on strike,
and one is threatened by Alabama
coal miners Exaggerated accounts of
recovery in business, SO often pub
lished and sometimes prompted by
manufacturers themselves, make it
not entirely strange if operatives fail
to see that the business in the great
industries is without profit and much
of the working force is still unem-
ployed.
The speculative fever grows more
fierce, as is natural when business
starts up with prices at extremely low
points, but by lifting wheat cents. r.
60 cents. Atlantic exports have beer
checked, and, flour included, have beer
only 1.676, 1876 bushels, against 3,O15, ,48s
last year. The close was at 6S11 cents
Western receipts are now larger thar
a year ago, and except in parts of some
states. the promise for the next yield
is excellent. A sale of 1000 tons by
the Fair estate at San Francisco, load
ing thirty ships for Europe. will
lessen other demands for Atlantic sup
plies.
Enormous transactions in cotton
have been followed by decline from
to 6.s1 cents, though peace in China
was represented as securing greatly
increased demand. Already 9,4OO, 900
bales have come into sight this year,
and commercial stocks here and
abroad, 3.s6s, ,266. with unprecedented
stocks held by the spinners, so far ex-
world for the remaining months. that
no famine will be feared with the next
crop smaller by quarter.
Stocks have reacted a little, but are
again higher for railways than a week
ago. There is comparative improve
ment in foreign trade, exports for the
month being not per cent. below last
years, while imports are but 1872 per
cent larger than last year.
The strike at New Castle, now over,
stiffened Bessemer pig so that $10.75
was quoted at Pittsburgh, and the
closing of Wheeling mill stiffened
billets, while southern makers have
nominally advanced their price. though
sales have been made here under $40
for No. 2.
Cotton ties are a shade higher at IS
cents per bundle, and wire nails at
IS cents and cut nails at 20 cents by
the carload are less demoralized. Con-
sumption does not yet. equal the ca
pacity of the works or the output of
pig. but improves. Late in the week
strikes in the iron works about Pitts
burgh threaten disturbances. Another
heavy decrease of II, ,667 tons in output
of coke maks the shrinkage nearly 90
per cent. in two weeks, and furnace is
offered at $1.IO.
Window glass makers have adopted
a new scale, for the two lower brack-
cts so cents higher than before.
The remarkable rise in leather con-
tinues, and yet shipments of boots and
shoes from Boston for April were
slightly larger than two years ago or
have orders for three or four months
production at material advance in
prices. The chief embarrassment is
uncertainty as to the future price OF
leather.
The rise in prices of cotton goods
also continues. The woolen has
reached the lowest price yet known,
large sales at low prices are yet neu-
trail. Sales since January have been
80, ,967, ,91O pounds. against 8S, 76s. $50 in
1892, and less in 1885 and 1894. The
demand for woolen goods does not inn
prove. and many cancellations are re-
ported. though sales of wool indicate
large consumption.
Failures in twenty-five days of April
showed liabilities of So, $50, $50, of
which $3,6I4, 736 were of manufactur-
ing and SIS, 705, $50 of trading concerns.
Last year in four weeks ending April
26. liabilities were So. s26, S62.
The weeks failures are 231 in the
United States, against 233 last year,
and "a in Canada, against 30 last year.