The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1896-01-22
STATE OF Trade.
Dun Regards the Situation as Decided
Perplexing.


Dun Regards the Situation as Decidedly
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 of $5.56S,OO0. against 81
62z,53l last year In ten days, and S, 041 ,225
In II days Of 1894. Failures for the past
week have been much larger In magnitude.
numbering 1876 in the United States, against
SI5 last year. and 81 In Ca lada. against 70
last year.
Ihe situation could hardly be more per-
Piexlng for business men. Practical mer-
chants, manufacturers or bankers can have
utue sympathy for those who minimize
their difficulties. None doubt that the gov
eminent will raise money to meet obliga-
tons, but how far the money market will
Dc disturbed or the treasury reserve first
diminished none can say. The business
world cannot know as yet how far foreign
quotations may upset calculation. though
there seems every reason to expect peace
ful settlement. 1t cannot know what may
be the duties on any important class of
imports 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 unfavorably all
branches OF business. Under such adverse
circumstances it is actually encoura cling
that shrinkage in transactions and result
ing commercial disasters have not been
greater. But four large failures within a
day or two indicate that the same condi-
tions cannot continue without much en-
barrassment
Domestic trade. shown by clearing
mouse payments, Is 8S per cent larger than
last year, but 2!.S per cent. less than IN
md in, ,,lx n
hesitation. Railroad earnings for the first
week OF January were 81 per cent. larger
than in January, 1895, but 13. 5 per cent. less
than In 1893. December shows a gain Of
81 over 1895 and decrease of u.s. compared
with 1893. Stocks steadily advanced until
Friday. but the failures brought a more
cautious feeling. Advertising on the av-
erage $l.0l per share, railroads closed 81. 30
higher for the week. Speculation in prod
ucts was not very active. and wheat was
practically unchanged.
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 25 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 1885, which means
dearer pig iron, but if orders for finished
products do not materially increase the adj
vance in material can hardly be mainta ined.
Minor metals are weaker Shipments of
boots and shoes for the week have been %
per cent less than last year, but many of
the factories are running full and orders
are scanty, buyers still believing that
prices must go 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 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
shoes. Prints and ginghams are only fair
ly active, with the mills at work in spite OF
the reduced demand"