Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1896-01-30
pun.s COMMERCIAL REVIEW

The Week Marked by AN Apparent Inn
provement Not Qualified by Actual busi-
ness Prices of Many Commodities
Slightly Advanced with Nothing In the
Conditions of Trade to Justify 0r Sus-
tain Them.
New YORK, Jan. 25.-R. G. Dun q
Co. report in their weekly review OF
trade, issued to-day:
Failures for Is days of January have
shown liabilities amounting S12,539,-
GIT, against 81 sol. 200 in II days of last
year, and S13. 35s, 800 in Is days of 1894.
The failures for the week have been
1873 in the United States, against 1863 last
year. and 81 in Canada, against 50 last
year.
The week has been marked by inn
provement apparent rather than real.
Prices of some products have risen,
but only because supplies are be-
lieved to be smaller than was ex-
pected. Prices of pig iron and billets
have risen, but because coke and ore
have been made dearer and not be-
cause of any better demand for fin
ished products. Money has been easy,
but only because more has been bor-
rowed from Europe at time when the
actual balances of trade take money
hence to Europe.
The senate still Injuries all business
| by doing nothing, and the treasury
can not expect to gain in gold as yet
hut loses less than was expected. 1t is
generally assumed that the new loan
will be placed without difficulty.
Business at the mills does not revive.
Payments through clearinghouse
for the week are 6.5 per cent. larger
than last year, but 1913 per cent. less
than in 1898, being less satisfactory
than for a long time.
A deluge of foreign reports favora-
BILE to wheat specula ton found ready
| answer in an advance of over five cents
here, in spite of western receipts; so
| per cent larger than last year; but for
| the crop year to date, all exports have
been about 11,6OO, 900 bushels smaller
| than last year.
Corn advanced because wheat ad-
| vanced, receipts and exports continu.
| ing as before. Cotton rose an eighth,
although Mr.. Ellison estimated the
yield at 1000, 900 bales. and receipts to
| date support that estimate, but there
are many who reason that the surplus
| will be dangerously small at the end
| of the crop year, even if the yield is
| 1000. 900 bales. The actual marketing
| of goods in Europe and in this coun-
try hardly supports that view.
Textile industries do not gain.
With materials practically unchanged,
| they halt because the demand for fu-
| ture delivery is SO narrow. Cotton
| manufacturers have for months been
storing up goods, but prices have grad
ually declined ever since October un-
til now the average is four per cent.
lower than at that point. Wooden
| goods also tend lower with small de-
mand, and are practically at the prices
of year ago, though wool is higher
Nor is there anything new in the boot
and shoe industry, for though hides
| are about 81 per cent. lower than a
| fortnight ago, leather does not change
and boots and shoes are but slightly
| lower.
While 10 furnaces in the Pittsburgh
| region have stopped since January 1,
the demand for products of iron has
| not on the whole increased, partly be-
| cause the bar, nail and rail associa-
| lions have all refused to lower prices.
| Minor metals are all week.
QUO WARRANTO PROCEEDINGS
| Brous hit to Revoke the Charter of the IL
linois Steel Co. of Chicago.
CHICAGO, Jan. 25.-Attorney-Gener
Mahoney will bring owarranto pro-
ceedings in the circuit court to-day
against the Illinois Steel Co. for the
purpose of having it's charter revoked.
| The company was incorporatedi in 1889,
| and includes the North Chicago Roll
| ing Mill Co., the Union Steel Co. and the
| Joliet Steel Co. The original organiza-
ton was the North Chicago Rolling
| Co., founded by II. H. Porter, and in
corporated by special act of the legis-
lature in 1862. The capital stock was
$4,000, 900, of which only one-tIird was
| issued.
The attorney generals document
| states that the original corporation
| purchased the Chicago Rolling Mill
Co., paying for that in stock, and IN
1889 incorporated the Union company.
The consolidated concern was named
the Illinois Steel Co.. the capital stock
being fixed at S25, ZOO, 900. 1t is alleged
the combine increased its capital stock
to 500, DOC, 900, and IN representing hal
this was the authorized capital stock
the attorney general declares the COM
pany has exceeded it's legal powers, be-
cause the increased amount is in ex-
cess of the combined capital stock o!
the two companies authorized to be IS
sued by their charters.
It is also set forth that the company
has purchased all the stock of the Jol-
let Co., and that it is dealing in real
estate contrary to the charter; also
that it has issued consolidated stock to
retire bonds of the Union Steel Co.
held by the Metropolitan Trust Co. OF
New York, contrary to the law of ILL
nois.
A STRANDED STEAMER
E1Oated and Libeled by q Wrecktng Com
pany.
S-Thp