The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-01-25
SENATE Is RESPONSIBLE.
According to Dun 4 Company the Innc'
tivity Of That BODY Causes Hesitation
In Business Circles.

According to Dun Company tnc In0c'
,ivi,y Of That BODY Causes Hesitation
In Business Circles.
New York. Jan. 24.-R G. Dun and
company report in their weekly Re-
view of Trade:
Failures for fifteen days of January
have shown liabilities amounting to
1858, 611, against 7.50l,2O9. in seven
teen days of last year and $13,65S, 800 in
eighteen days of 1894. The failures for
the week have been 1913 in the United
States against 1853 last year, and 61 in
Canada against SO last year.
The week has been marked by i'm
provement apparent rather than real.
Prices of some products have risen, but
only because supplies are believed to
be smaller than was expected. Prices
of pig iron and billets have risen but
because coke and ore have been made
dearer, and not because Of any better
demand for finished products. Money
has been easier, but only because more
has been borrowed from Europe at
time when the actual balance of trade
takes money hence to Europe. The
senate still Injuries all business by do
ing nothing and the treasury cannot
expect to gain in gold as yet, but 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 clearing houses
for the week are 6.5 per cent. larger
than last year, but 1913 per cent. less
than in 1893, being less satisfactory
than for q long time.
A deluge of foreign reports favor
able to wheat speculation found ready
answer in an advance of over five
cents shere in spite Of western receipts
fifty per cent. larger than last year.
Atlantic exports for the week were also
much larger than last year. for the first
time in several months. but for the crop
year to date all exports have been
about 100000 bushels smaller than
last year. The market has the idea
that foreign demands hereafter must
be much greater because of deficient
supplies elsewhere, but no one expects
that the increase will be at all COM
mensurate with the enormous increase
in western receipts
The iron and steel business finds en-
coura cement in the advance of besse-
mer pig to $13 at Pittsburg and grey
forge to $11.25. but these are results of
the advance ordered by combinations
in coke and ore. Anthracite is not
dearer ut the east. and southern pig is
pressed for sale. Finished products
are not stronger; while pig iron has
advanced 10 per cent. since January 1,
prices of finished products average IL
per cent lower than at taht time The
demand is plainly too small for the sup
ply, and the works in operation are
killing profits for each other by UNDER
bidding. In such case lower prices
for pig, ore and coke would seem in
evltable but last year the raw mater
ials hoisted everything else and some
expect the operation to be repeated.
While thirteen furnaces in the Pitts
burg region have stopped since Janu-
ary 1, the demand for products of iron
has not, on the whole, increased. partly
because the bar. nail and rail associa-
'tions have all refused to lower prices.
Minor metals are all weak.