Iron County register., 1896-11-02
oUN.s COMMERCIAL REVIEW.

A Comparative Statement of Pay-RoIls for
November Shows an Increase Over Last
Year-In Some Industries More Hands are
Mt Work than In 1S9eSlighs Advance In
Stocks-The Boot and Shoe Boom, Etc.
NEW YORK, Dec. 15.-R. G. Dun &
Co. s weekly review of trade issued to-
daY SAYS.
Dun's review is enabled by the kind
ness of several thousand manufacture
ers who have forwarded statements of
their pay rolls for November of this
year, in 1898 and in 1899. to make a
very encouraging comparison of earn
ing, for that month, which show an
increase in total payments of 1872 per
cent. over last year, but a decrease
of 1873 per cent in comparison with
1892. The accompanying statement
of hands employed shows that
in the establishments 1O.2 per cent.
more persons were employed than
year ago, but 8. per cent. less than
in 1892. The average earnings for
over $50, 900 hands is 4 per cent. larger
than in 1898, but is 141S per cent. less
than in 1892, and this statement takes
no account of hours of work in the
months compared or of the establish
ments not working at all this year
In some of the Industries more hands
are at work than in 1892, but in others
the decrease is large. With the other
statements, which are now being re-
ceived daily. more exact comparison
will be possible.
Contradictory changes in business
are quite in order at this season.
Neither the larger orders in some
branches, nor the depression of prices
in others, afford safe indication of
the general movement. But the work
ing force does not lessen more than
usual for the time of the year, and the
demand for goods does not seem to di-
minish. though in most departments it
is considerably below the capacity of
works in operation, and the volume of
business transacted is little larger in
comparison with last year than in No
vember.
The exchanges through the principal
clearing houses for the past week have
shown an increase of 1913 per cent.
over last year and a decrease of 24.6
per cent. compared with 1892.
The speculative markets have ad-
vanced a little, though reasons are
hard to find. Wheat is unchanged in
price, although western receipts are as
large as they were last year and At
lantic exports are s31, POS bushels
against 1,O29,250 year ago. The visi-
BILE supply, as before, is materially
greater than in any previous year.
Corn is fraction weaker without any
important change in movement, though
the receipts continue remarkably
large.
The heavy receipts of cotton have
broken down the price to 5.75 cents, in
spite of a strong speculative interest
looking for some recovery from the
lowest point on record.
The detailed reports regarding the
chief industries are not altogether en-
couraging. The iron output increased
during the month of November, and
was los, ,762 tons weekly December 1,
against 1852, ,666 November 1; but the in
crease in stock unsold was SO, 149 tons,
which averages II, 700 tons per week,
indicating that the increase in produc-
tion during the month of November
was not supported by the demand for
products. Accordingly prices have
been declining, the general average of
articles quoted being only $40 of tn e
average in October, 1890, against 55.7
per cent. on the first of December.
In boots and shoes the shipments
continue to exceed those of last year,
according to the Shoe and Leather Re.
porter, being 135, 500 cases for two
weeks of December, against 90, 592 last
year.
The textile manufactures are, on the
whole, weaker, although sales of wool
for the past week, in part for specula-
tive purposes, have been larger than
one year or two years ago, and for two
weeks of December have been 9,610, ,2OO
pounds, against 1857, 200 last year and
O,62S, 500 in 1892. The orders for
spring woolens did not materially in.
crease, but the current demand for
immediate shipment continues unusu-
ally large. Cotton goods were de-
moralized by soDle reduction, and by
the announcement of a great auction
sale of $1,000 PIECES by Bliss. Fabyan
& Co, and the irregularity in various
staples increases, although print cloths
are steady.
Money comes to New York in large
amounts, making the transfers by the
treasury to New Orleans look a little
fanciful, and no increase appears in
the demand for commercial loans, ex-
cept in transactions on account of the
sugar trust.
Exports of gold for the week will
amount to So, 500, 900. and there has
been considerable selling of American
securities on London account; and as
long as this continues outgoes of gold
| must be expected.
The failures during the month have
been swelled by many misfortunes at
the south, apparently due to the ex'
treme depression in cotton, SO that the
liabilities for the first week of Decem-
Der amounted to 81, 036, ,S66, of which
81, ,427,415 were of manufacturing and
81, 401, ,451 of trading concerns, the ag'
gregate for the corresponding week
last year being 4,761, 400. For the
month of November the complete state
ment of liabilities covers 81 ,094, 306, o1
which So. 2s2, 500 were of manufacture
ing and 81, $780, 05O were of trading con-
Germs.
The failures this week have been 34s
in the United States, against 339 last
year, and 4G in Canada, against 40 Last