The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-02-08
DUN'S COMMERCIAL REVIEW.

Heavy Failures for the First Three Week.
OF January-Some signs of improvement
seen in the General Outlook, Though
business Is Still WaitInS-Review of Pro.
duce, Manufacture and Stocks Not Alto
gether Unsatisfactory.
New YORK. Feb. l.-R. G. Dun & Co.
say to-day in their weekly review Of
trade:
Failures in three weeks of January
show liabilities of SIT. $780, 1I. against
SlO,6S5,C 60 last year; in manufactur.
ing, S6,66l ,l29 this year, against 81
479,193 last year; in trading SlO,3l7,-
$50, against S., 1925 last year. Fail
ures this week have been 4O4 in the
United States, against 354 last year,
and so in Canada, against II last year.
Though business is still waiting,
there are some signs of definite i'm
provement. 1t is now believed that
the first payment for bonds will cause
no further pressure, and the money
markets are easier as respects loans on
collateral, though the difficulty Of
making commercial loans still checks
operations. But large maturities at
the end of January have been met
more satisfactorily than was expected.
and merchants and bankers report
that the signs promise Il good spring
trade.
No increase appears as vet in the
demand for the principal products, I'M
less for some forms of iron and steel,
in which good contracts have been
made this week.
Signs of Improvement in the ;r0n
and steel business are gratifying even
though they spring from combinations
which have raised the price of coke
and allotted the output of lake iron
ore. y contract for 29.D0O IONS of rails.
Pacific delivery. taken by an eastern
concern i'll competition with foreign
markets. and a contract for S,O10 tons
plates for the East Jersey water
works: contracts for 1000 ton east
pipe at $500, taken by Alabama
works, with contracts for the CONNER
cial cable and Other buildings here
OvC ing 900 tons. are the main fca-
turcS. but there is also Il better de-
mand for wire nails after a long stag
nation, and also for sheets.
Pig iron is rather weaker. southern
works competing sharply. while spec
ulativc bIycrS of some months agOarr
selling below present furnace prices.
bat the average for all products is
practically unchanged, and Iii per
cent. below the highest last yclr.
Coke production has again be"n cut
down l0.G75 ton in Il single week.
Anthracite producers anG carriers
have AT last made Il new assignment,
dividing the spoiIs for the year. which,
il IS supposed. will be more nearly OBJ
served han others which hare p=ecSd-
ed. Minor metals are strengthened a
shade by ~pe~culation.
The den and for boots and shoes does
not enlarge, though price, still decline
about six per cent. for til" week.
and hides and leather are both lower.
The committee on mills are discuss
ing curta:lmcnt Of production, as
goods continue weak with an output
largely exceeding distribution. though
the week has brought considerable
more inqu res, and IL larger spring
trade Is still hoped for. Woolcns are
practically unchanged. Sales of wool
at the three chief markets have di-
minished of late. manufacturers buy
ing only for present needs.
Wheat has again advanced about
three cents for case. but only IL for
May. althou Oh Atlantic export, are
little larger than a year ago. Neither
this fact nor the continued excess of
western receipts explain an andvance
for which the basis or the excuse must
be sought in foreign reports. Corn
mas ceased to "sympathize" and rec
ordS little advance.
Cotton is Il shade lower than a week
ago, notwithstanding strong argu-
ments by Neil and Others, but re-
ceiEts from planters go on at nearly
the sHme rate. spinncrS taking a fall
behind last wear as before. and the
marketing Of goods does not support
the brilliant estimates of increased
consumption thiI year. Exports in
January have been - per cent. less.
spinners taking 81 per cent. less. and
receipts from plantations 80 per cent.
less than last year; and receipts have
been larger, but spiuners takings and
exports both smaller than in 1928
from IA cropof 6 5OO.GM bales.
The earnings of railroads in three
weeks of January were 90 per cent.
than last year. The stock
marke; has been lifted by these re-
and hopeful monetary condi-
tions, so that the average for railroad
stocks IS Sl.S4 per share and for trust
per share higher than d week
ago. The expectation Of an anthra-
cite settlement has been a powerful
and it is generally supposed
that prices will rise after the bond:
settlement.
Provide Tor the Naintenanc e Of schools
OF Mines. .