Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1896-01-23
STATE OF TRADE.
Dun Regards the Situation rs Decided,
ipR rsNln vlpS

j
Perplexing. H..
New York. Ian. ls.-R q Dun & Co...
in their weekly review Of trade, say:
Failures for nine days OF January have
shown liabilities Of {55eS,O00, against ST.
In II days Of 1894. Failures for the past
week have been much larger In magnitude.
numbering 1896 In the United States. against
s73 last year. and 81 IN Canada, against 60
last year.
''The situation could hardly be more per.
picking for business men. Practical mer
chants, manufacturers or bankers can have
little sympathy for those who minimize
their difficulties None doubt that the gov
eminent will raise money to meet obliga-
ttons, but how far the money market will
be disturbed or the treasury reserve FIRST
diminished none can say. The business
world cannotsknows as yet how far foreign
quotations may upset calculation, though
there seems every reason to expect peace
full settlement. Itcannot know what may
be the duties on any important class OF
imports q month hence. whether imports
are likely to exceed exports and draw
away gold. whether the deficit of revenue
will continue. or what other taxa ton will
be levied. Failure Of the senate thus far
to take any action upon financial measures
proposed by the president or those passed.
by the house affects unfayorably all
~s>~'sSsASS ~
circumstances 1t Is actually encouraging
that shrinkage In transactions and result
Ing commercial disasters have not been
greater. But four large failures within a
day or two indicate that the same condi-
tons cannot continue without much en-
bGrrassment.
Domestic trade. shown by clearing
house payments, is S.8 per cent. larger than
last year, but 27.S per cent. less than IN
1858, and In nearly all trades there Is much
hesitation. Railroad earnings for the first
week of January were 81 per cent. larger
than in January. 1895. but IL S per cent less
than In 1893. December shows q gain OF
81 over 1895 and decrease of u.s. compared
with 1893. Stocks steadily advanced until
Friday. but the failures brought a more
cautious feeling. After rising on the av-
erage $l.5l per share. railroads closed 81. 80
higher for the week. Speculation in prod
ucts " as not very active. and wheat was
practically unchanged.
THE production of pig iron is so far be-
yond the present demand for finished prod
| ucts that temporary stoppage of many fur
| naces Is expected. Yet pig iron is higher.
Ressemer about so cents and gray forge
anG anthracite Is cents. although finished
products are generally weaker, with less
demand. Controllers of the coal and coke
| output are said to have agreed to maintain
prices above those of 1895, which means
Edearer pig iron, but If orders for finished
pTOUEClS 10 uOt materially increase the al.
vance in material can hardly be maintained
Minor metals are weaker. Shipments OF
boots and shoes for the week have been 2;
per cent. less than last year. but many al
| the factories are running full and orders
| are scanty, buyers still believing that
prices must go lower"
Bradstreet's says:
while general trade has not shown 9
widespread tendency to revive from the
| holiday ilenreSSion there re fayora HE foo
lures in a revival in iron and steel price.
and continued heavy cereal exports. Re
ports from Baltimore, New Orleans, Buff.
falo and in certain lines at Chicago, st
Louis, st. Paul and Minneapolis, jobber.
In staples report business slow. Relativel,
grea test improvement Is shown In the re
quest for dry goods, clothing. hats ant
| shoes. Prints and ginghams are only fair
| ly active, with the mills at work In spite O.
| the reduced demand"