The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-01-20
DOUBT RULES MARKET
All Branches Affected by the In
decision Of Congress.
BUSINESS MEN ARE PERPLExED.

Uncertainty OF Tarins. Finances and For
sign Questions Makes Calculations Very
Observation-Disclosures Almost nc .
standstill Waiting for = Demand which
Does Not Appesr-specuistion Inactive
Weekly Review Of II. q. Dun Co.
NEW YORK, Jan. cor. G. Dun g. Co.'S
Weekly Review Of Trade says: The situ-
alton could hardly be more perplexing for
business men. Practical merchants, man
ufacturers or bankers can have little sym.
pathy for those who minimize their diff
culties. None doubts that the govern
ment will raise money to meet obligs-
tions, but how far the money market will
be- disturbed or the treasury reserve
first diminished none can say The
business world cannot know as
yet how far the foreign questions
may upset calculations. though there
seems every reason 70 expect peaceful
settlement. 1t cannot know what may bs
the duties on any important class Of inn
ports a month hence, whether imports are
likely TO exceed exports and draw away
gold. or whether the deficit Of revenue
will continue, or what other taxation
/
thus far. to take any action upon hnan-
or those passed by the house. affects un-
favorably all branches OF business.
Speculation Continues Inactive
Under such adverse circumstance IL IL
actually encouraging that shrinkage I'm
transactions and resulting commercial
disasters have not been greater But four
large failures within day or two indt
cate that the same condition cannot
continue without mach embarrass-
ment. Speculation in products was not
very active, and wheat was practically un-
changed though Atlantic exports for two
weeks, -four included, have been +.4SS. 100
bushels, against 4,253,l l25 bushels last
year. Western receipts still make
short crop predictions ridiculous,
amounting. for two weeks Of January,
TO 8, AL $40 bushels, against 2,65s, l22 bush
els last year. Corn receipts we're also lib
eral, and the exports were about five times
those of last years. Cotton receipts still
indicate u yield neither as small as Mr..
Neill's reiterated estimate Of 100000
bales nor as large as the 7,000,0o0 bales
estimated by others; but it is yet to be
seen whether supplies held for better
prices are Of consequence. The price de-
clined Is cent, with accounts of narrower
demand by spinners abroad and declining
prices for goods in this country.
No Progress In Manufactures.
No branch Of manufactures shows prog
ress, for all are unavoidably waiting, both
FOR settlement of financial doubts and for
q demand, which does not appear. Cot
ton goods are not quotably lower, but con-
cessions to secure business are reported in
many instances. and many of the mills
have been running largely in anticipation
Of orders not yet received There is lit
tie better inquiry for staples, with indi-
tions that dealers stocks are running low
The opening of fine and fancy woolens
has brought no change In prices and re-
visions caused 10y recent openings OF
worsteds have been generally toward
lower prices. There has been somewhat
more demand, but not enough TO keep
most Of the mills running full. Sales OF
wool in two weeks have been 4,944 800
pounds Of domestic and O. S23, 300 foreign.
against Q, ,s60, ,6l5 pounds domestic and L..
&l0, 200 pounds OF foreign last year.
Iron Market Anomalies.
The pig iron output weekly Jan. was
s07, ,4Sl tons, "A decrease Of s.3l1 or 43 per
cent. in December, and unsold stocks in
creased 81, l25 tons or over 10000 weekly.
while the great steel companies, whose
stocks are not reported, produced in De
cember 342, 936 tons. The production Is so
far beyond the present demand for fin
ished products that temporary stoppage Of
many furnaces is expected. Yet pig iron
is higher, Bessemer about 80 cents, and
gray forage and anthracite % cents, al
though finished products aue generally
weaker, with less demand. Controllers
Of coke and ore output are said TO have
agreed TO maintain prices above those OF
1896, which means dearer pig-iron, but II
orders for finished products do not mate
rally increase the advance in materials
can hardly be maintained. Failures for
the past week have been much larger In
magnitude. numbering 800 In the United
States, against y73 last year, and 81 in
Canada. against 80 last year.