Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1896-08-20
Dun.s COMMERCIAL REVIEW

Il
| Injurious Eject on Badness Of the TorrId
weather and the Government Crop Re-
ports-The Latter Discounted by General
Distrust OF Their Accuracy-Raslroad
Stocks Reach the Lowest Prices in TWEEN
ty-Seven Years.
: New YORK. Aug. 15.-R. q. Dun &
Co. say to-day in their weekly review
| of trade:
Failures for the week have been 20e
in the United States, against 196 last
year; and SO in Canada, against 80 last
year. An extraordinary spell OF
deadly hot weather has affected trade
throughout the country. and in the
east speculative feeling was somewhat
| affected until Thursday by apprehen-
sion of the possible influence of the
Bryan meeting. With cooler weather
there came also on Thursday percep-
ton that the meeting would not af-
feet business unfavorably. But other
| conditions were not stimulating.
According to government reports,
| the crops have sustained serious inju-
ries. Labor difficulties extend, and
closing of esta blishments for want of
work, and the refusal of commercial
loans by banks, checked operations in
many branches of industry and trade.
The week, therefore, closes as the
last week did, with domestic business
unusually dull for the season.
There is evidence of greater conf
dence in the stock market which be-
gan to appear on Monday. The aver.
age of sixty most active railroad stocks
had fallen to $40. SIS per share, a decline
of over seven per cent. for the week,
SO that prices were actually the low.
est in IL 1-2 years, since the first month
after specie resumption. Trust stocks
had also declined $27s for the week.
There was some selling for foreign
holders, but far more important
factor was the general feeling of CAPT.
talissS and investors here that it might
not yet be the best time to buy. Men
of more confidence put up prices lit
lie on Tuesday and still more Oh
Thursday, so that the week closed
with an advance averaging 95 cents
per share for railroads and ST. 80 for
trusts.
Railroad earnings for the first week
in August were g. per cent. smaller
than last year, and Chicago east-bound
tonnage was over per cent. less than
last year.
The government crop report for Au-
gust was so gloomy that a great rise
in prices would have followed if it
had been entirely credited. In fact,
wheat rose about half a cent, but
again declined. closing only fraction
higher for the week. Corn declined
throughout the week, closing over
cent lower. Cotton advanced a six
teenth because of continued reports
of injury.
Iron production was reduced 20, 764
tons weekly in July, and has been fur
thur reduced since August /, while
unsold stocks increased &c, 1872 tons in
July. The stoppage of lacge share
Of the Connellsvi1le coke works, and
of many lake IRON mines, is fair indi-
cation that the two combinations do |
not believe anything could be gained |
and the main difficulty is the
obviously extreme narrowness of
demand for finished products,
which is so small that most transac-
tions are at some concessions even |
from the current low prices. With |
Alabama No. offered at SOL at
Birmingham, equivalent to $40. 25 here,
against Sill so for northern No. 2, the |
market is not large enough to support
prices of either. Copper receded to
its quotation before last week; tin has
been sold below current quotations at |
/. 80 cents, and with sales of 500 tons |
lead weakened to 2.75.
The boot and shoe industry is APP |
preaching the end of orders at hand, |
and gradual advances in the prices |
asked tend to the restriction of new |
orders. Leather is scarcely changed |
in price, many of the tanneries hav-
ing ceased operations, but hides are |
six per cent. lower for the week, |
and have declined 17.43 per cent. |
within the last five weeks. The |
wooden manufacture makes little |
change, with not more than a third of |
the machinery now running, and the |
demand for goods does not improve, |
although prices of some important |
grades have been further reduced. |
Nor has Improvement appeared in |
cotton goods, although the curtail- |
ment of production for some weeks |
has been great.
1t is step toward recovery, not |
quite pleasant but sure, that merchan-
disc imports since July l are Is per |
cent. less, while exports are 16 per |
cent. more than last year. 1t means
depression of trade, but also decrease
of foreign indebtedness.
SIGNAL TOWER MAN BLAMED