The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-02-10
THE BUSINESS WORLD
Unexpectedly Favorable Outcome
Of Bond Issue.
EASY MONEY AND IMPROVEMENT.

| osnsrai Trade Awaited the Result of tho
| Subscription TO the Loan and the Eject
Has Been Favorable-Gain In the South
In Wholesais Lines-Exports OF Wheat
and Corn-B1slness FaiIures-week in
Wall Street,
| NEW YORK Feb. l0.-Bradstreet's says;
| General trade waited the result Of sub
sorlptions TO the bond issue and the senti-
mental effects OF the Unexpectedly favora.
| BILE outcome have been for easier money
and Improvement. Additional favorabls
influences are found In heavier bank
clearings, continued firmness OF prices.
sustained demand for iron and steel, aud
the announcement at ST. Paul, Milwaukee,
Omaha. and Des Moines OF the revival OF
business with jobbere In staple lines. AZ
| the east Baltimore, and Pittsburg report
favorable trade conditions At the soIth
gains In wholesale lines are annou need
| from Nashville Memphis Atlanta and
Birming ham.
Depressing Influences.
The reverse includes the depres sing in
| huences Of stormy and wet weather. in
differences OF consumers Of domestic
wooden dress goods, renewed sales of print
| clothes and other makes OF cotton goods
only after a reaction In prices, continu
ance OF extreme conservatism in almost
all lines, and the fact that the relief to
the treasury by the heavy over subscrip-
ton Co the bond issue in the absence Of
sound currency legislation by congress
will probably prove only temporary de.
vice o maintain the gold reserve. Gen
cral trade az Chicago. 81. Louis. Buffalo.
and Philadelphia shows no real gain from
the preceding week, when the situation
was quiet even TO dullness and the out
look unsatisfactory Exports OF wheat
| flour included as wheat) from both coasts
OF the United Stats this week amount 20
2,917, ,0OO bushels, against 1850 600 bushels
last week, 2. 020,O0O bushels i'm the week a
| year ago 2,67S0JO bushels in the week two
years ago, and :, ,93l, 900 bushels in the first
week Of February, 1893
Exports of Indian Corn.
Exports OF Indian corn this week
| amount 10 3 222 O00 bushels. n trihe more
than last week, three times the quantity
In the like week last year. more that twice
| the quantity exported in the correspond
ing week of 1894 and more than six
times the amount shipped out Of the coun-
| try in the first week of February 1898.
The total number of business failures
| throughout the United States this week,
| as reported 10 Bradstreet's is considerably
| smaller this week, 33S as contrasted with
| 893 last week, 1913 Ia the week one year
| ago. 1856 or almost exactly the same num-
| Der In the first week OF February, 1894.
1 223 IN 1893 and with 2l4 in 1892 The long
I list or business failures reported from
| Canada last week l. practically repeated
with a total Of 81 compared with 63 week
| ago, 81 in the week year ago, 20 two
years ago 40 three years ana 6S four
| years ago
The Week in Wall Street
| Professional spectators seem TO have
| over-dis sounted the successful result OF
| the government bond subscription While
| no one in Wall street, or out of IL, realized
| that the total applications would reach
the stupendous figures they actually did.
| 10 was known by the end OF last week that
the new loan would be largely over-sub
scrbed The feeling of nstonishment.
mingled with hopeful feelings for the
future which found expression when the
extent of the bids was announced has
undoubtedly created a bullish sentiment
and produced some outside speculative
buying OF stocks Never hcless the bull
cliques and traders who had purchased So
sell them on the market created 10y the
success of the bond issue realized profits
on a larger mass Of stocks than the mar
ket was able to digest
Excited Advance on "Wednesday.
Prices rose during the early part of the
| week and there was somewhat excited
| further advance on "Wednesday afternoon
when the outcome of the subscription was
first known On Thursday, however, the
market was held in check by the realizing
sales above referred to, and the process
| seemed To be still incomplete on Friday
| At the same time, considering the mar
row and professional character of the re-
cent improvement, the market has dis.
played great steadiness and an ability to
take a heavy outpour OF long stock which
argues well for its future stability. Tho
market on Friday showed more OF a dis
| position to advance. but advances were
checked by renewed realizing and short
| ceiling before the close.
Object of Bullish Points.
Manhattan advanced from IO5s4 10 l0Tc4,
| and rumors are current that some inter
est, presumably the Metropolitan Trac-
tion company, Is negotiating a loan of tho
property on guaranteed dividend basis
| General Electric has been the object OF
bullish points for Boston as 60 the general
condition of the company's business and
| Of an attack as we'll. The resignation OF
the president Of the United States Rubber
corporation Is said to be the outcome OF
an interest squabble Reading advanced
| from 1885 to 10 on talk of further secret
commissions to the company by the other
| anthracite roads in the matter of its per-
centage of the coal output. The anthra.
cite coal agr ement, has, however. fallen
| Cat as a speculative factor.
Made n Fortunate Discovery.
NEeAUNEE Mich, Feb lo-ln max
| ing rock cut for new railway two