The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1896-01-15
BUSINESS BACKWARD.
Trade in a State of Hesitation Rather
Than of HopefuIness.

Than Of HopefuIness.
New York. jan 11.-R. 6. Dun d Co..
in their weekly review of trade, say:
THE new year begins with such uncer-
tainty that business is somewhat retarded
The proposed sale of bonds offers ground
for confidence in the future, but no one
is able TO determine what its earliest ef-
fects may be II the money market and for
the time II is a case of hesitation rather
than hopefulness. Speculation in products
has not been active. Cotton is rot un-
changed, although the receipts for the
week have not been very large, but some
slaekening appears in the foreign demand.
Wheat Is about one cent higher, and corn
the same. without distinct reason in either
case
The industrial situation has not material
ly changed. There is much hesitation in
the iron business, with some advance in
Bessemer pig because Of the expectation
that Connellsville coke and lake ore will
both be dearer, and yet finished products
of iron and steel are on the whole quoted
a little lower. Everything turns on the
contracts for ore which are still unsettled
but the great excess in production of pig
iron over the present demand is no longer
denied, and il is expected that quite num-
Der of the furnaces viii presently diScon-
tinue production
4. In boots and shoes the average of
q
lower, but hides are on the whole about five
per cent stronger al Chicago, with scanry
offerings. The demand for boots and shoes
falls far behind expectations, and many
shops have been closed for time.
The volume of domestic trade indicated
by payments through the principal clear
ing-houSes shows the usual large increase
Of 146 per cent over last year, but in COM
parison with the same week in 1893, shows
decrease of IL / per cent Part Of this DIFF
ference must be attributed TO the shrink
age In prices, but there IS also without
doubt considerable decrease in the dis
tribution Of goods 20 final consumers.
liabilities in failures for the first two
DAYS of January amounted to s9ls, 795 of
which s240, ACT were Of manufacturing and
s67s 3Ss of trading concerns. Failures for
the week have been 43l in the United States,
against 40 last year, and So in Canada,
against "a last year.
Bradstreet's says:
General trade has not improved anpre-
ciabIy Some wholesale houses are send
Ing out travellers, while others have not
completed taking account Of stock Mild
weather at western points has inIerfered
with business in some instances, and the
week continues TO present characteristics
OF a between-seasons period. The impress
sion is general that uncertainty as to hnan-
cial action by congress and disturbing po-
litical conditions have an unfavora bic in
f1uence on the prospect for new enterprises.
Mercantile collections east, west and
northwest are complained Of, but at the
south the comparative ease with which
they are made forms conspicuous excep-
ton Demand for funds at various western
eenters is the most active for q year.
Stocks of wholesalers at many Of the larger
interior distributing points are low First
advices of statesmen on the road are of mod
crate demand for goods, Improvement
showing itself first in dry goods, shoes and
clothing