The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1896-01-23
STATE or TRADE.
Dun Regards the Situation ~ Decidedly
Perplexing.

Perplexing.
New York. Jan. 1s.-R. G. Dun & Co.,.
In their weekly review of trade. say:
Failures for nine days of January have
shown liabilities ct S.. $4,000, against 81
in II days of 1884. Failures for the past
week have been much larger in magnitude,
395 in the United States. against
s73 last year. and 81 In Canada. against 90
last year.
+. 1.-The situation could hardly be more per-
chants, ma manufacturers or bankers can have
little sympathy for those who minimize
their difficulties. None doubt that the gov
eminent will raise money to meet obltga-
lions, but how far the money market will
be disturbed or the treasury reserve first
world cannot know as yet how far foreign
quotations may upset calculation. though
there seems every reason to expect peace.
full settlement. 1t cannot know what may
be- the duties ON any important class Of
Imports q month hence, whether imports
are likely to exceed exports and draw
away gold, whether the deficit Of revenue
will continue. or what other taxation will
be levied. Failure OF the senate thus far
to take any action upon financial measures
proposed by the president or those passed
by the house affects unfavorRbly all
branches OF business. Under such adverse
circumstances 1T il actually encouraging
thAt.shrinkage in transactiOns and result
ing COMMERCIAL disastersa have not been
greater. But four large failures within 4
day or two indicate that the same condi-
lions cannot continue without much en-
bGrrassment.
Domestic trade. shown by clearing
house payments. Is 8.S per cent. larger than
last year, but rs per cent. less than IN
1S(9 nd In, non doc fhoro Ia much
hesitation. Railroad earnings for the first
week Of January were 81 per cent larger
than in January, 1895. but 1876 per cent. less
than in 1893. December shows a gain of
ST. over 1895 and,a decrease Of rs, compared
with 1898. Stocks steadily advanced until
cautious feeling. After rising on tho av-
erage $l.5l per share, railroads closed 81. 81
higher for the week. Speculation In prod
ucts VAS not very active, and wheat was
practically unchanged.
1.-THE production of pig iron is so far be-
yond the present demand for finished prod
ucts that temporary stoppage Of many fur
naces is expected. Yet pig iron Is higher.
Bessemer about so cents and gray forge
and anthracite Is cents. although finished!
products are generally weaker, with less
demand. Controllers Of the coal and coke
output are said to have agreed to maintain
prices above those of 1896. which means
OcdICE V46 4IO1As Oul ~ OIuCEo AOI Au1lS1lCO
products do not materially increase the adj
vance In material can hardly be maintained.
Minor metals are weaker. Shipments OF
boots and shoes for the week have been e
per cent. less than last year, but many ct
the factories are running full and orders
are scanty. buyers still believing that
prices must 90 lower
Bradstreet's says:
while general trade has not shown a
widespread tendency to revive from the
holiday depression, there are favorable fea-
lures in q revival in iron and steel prices
and continued heavy cereal exports. Re-
ports from Baltimore, New Orleans. Buff
falo and in certain lines at Chicago, St.
Louis, st. Paul and Minneapolis. jobbers
in staples report business slow. Relatively
greatest improvement is shown in the re-
quest for dry goods. clothing. hats and
~ active. with the mills at work in spite OF
the reduced demand"