The San Francisco call., 1896-01-11
DUN's REVIEW OF TRADE.

NEW YORK, n. Y, jan 10.-R. 6. Dun & Co.
will say tomorrow in their weekly review of trade:
Liabilities in failures for the first days of Jan
uary amounted to $91S,795, of which S240 4O7
were of manufacturing and $6793SS OF trading
concerns. Failures for the week have been 431 in
the United States against 420 last year. and 53 in
Canada against 81 last year. The new year be-
gins with such uncertainty that business is
somewhat retarded. The proposed sale OF bonds
offers ground for conf ence in the future, but
one is able to determine what its earliest effects
may be in the money market, and for the time II
is a case OF hesitation rather than hopefulness.
Speculation in products has not been active.
Cotton is unchanged although the receipts for the
week have not been very large, but some slacken-
about 1c higher and corn the same, without dis
unct reason in either case. Wheat receipts at
Western points were almost double last years
2,505,702 against 1905, ,704 last year-but Allan
tic exports little larger than last year, flour
inciuded-2, ,337 1856 bushels, against 2.010,755
year ago. corn receipts are abOut a quarter larger
than year ago, while Atlantic exports are about
tour times as large.
The movement OF stocks has been downward,
Notwithstanding fair reports of earnings, which
show an increase OF S.S per cent over last year.
The industrial situation has not materially
changed. There is much hesitation in the iron
business, with some advance in Bessemer pig be-
cause OF the expectation that Connellsyille coke
and lake Will bo.h be dearer and yet finished
products of iron and steel are on the whole quoted
u little lower and the nail association is st In ses-
lion to determine whether it Will abandon the
eilOrt 10 maintain fixed price.
That branch OF business is extremely slow; moth
better demand Tor sheets and plates and several
good orders are reported Tor structural works,
angles quoted a shade lower. Everything
turns on the contracts Tor ore. which still
settled, hut the great excess in production of pig
iron over the present demand longer denied.
and Ii is expected that quite number OF the fur
naces will presently discontinue production.
In boots and shoes the average OF prices is a
shade lower. Leather is little lower, but hides
are on the whole about per cent stronger at CHI.
CagO with sCanty offerings. The demand for boots
and shoes falls far behind expectations, and many
Oi the shops nave closed for time. Sales OF wool
were Target, ,699 800 pounds for the week against
5,255,7l5 last year although large part OF the
purchases is OF a speculative character The OPEN
ing OF woolen goods show further tendency To-
ward lower prices in spite of the prevalent belief
that higher prices would be realized before long
the revenue bill which passed the house should
become law.
The cotton mills generally running, though
not all with full force, and some ping up goods
without regard 10 the Immediate demand, which is
comparatively slack, as they apparently believe
that the short supply OF cotton this year will in
sure them profits in the end, it has during the
past half year. Nevertheless goods have decidedly
weakened in price, quite number of changes
having been recorded durin the past week.
I. The volume OF domestic trade indicated by pay
mentS through the principal clearing houses shows
the usual large Increase IA per cent over last
year, but in comparison with the same week In
1898 shows uecrease of 13.1 per cent. Part of
this difference must be attributed to the shrinkage
in prices but there is also without doubt a con-
siderable decrease in the distribution OF goods to
final consumers.