The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-02-01
INDICATIONS Are HOPEFUL
Signs Of Definite Improvement in
Business.
A GLIMPSE or THE SITUATION
Money Markets Arc Easier Signs in the
Iron and steel Trade Arc Gratifying.
Wheat Advances aud Railroad
Earnings Arc on the Increase.

New York. Jan. :1.-R. G. Dun & Co.
tomorrow In their Weekly Review Of
Trade will say:
Failures In three weeks of January
show liabilities of $17.S36.5ll. against
$40. .S65. .060 last year; in manufacturing
S6.66l. l29 this year against $2.479. 1893 last
year; in trading $l0.3l 1850 against $s.-
165,267 last year. Failures this week
have been 4O4 In the United States
against 35i last year, and 70 In Canada
against "a last year.
Though business Is still waiting. there
are some signs of definite improve
ments. 1t is now believed that the first
payment for bonds will cause no fur
ther pressure and the money markets
are easier as respects loans on callater-
al. though the difficulty Of making COM
mercial loans still check operations.
But large maturities at the end of Janu-
airy have been met more satisfactory
than was expected. and merchants and
bankers report that the signs promise
u good spring trade. No Increase ap-
pears as yet in demand for the princi-
pal products, unless for some forms Of
iron and steel, in which good contracts
have been made this week. Domestic
trades recorded through clearing houses
are 6.5 per cent. smaller than year ago.
Improvement In Iron.
Signs of Improvement In the iron and
stacl business are gratifying even
though they spring from combinations
which have raised the price of coke and
allotted the output of lake iron ore.
A contract for 1000 ton of rails. pacific
delivery taken by an eastern concern
In competition with foreign makers, a
contract for 5000 tons plates for the
East Jersey water works, contracts for
1000 tons cast pipe at $500. taken
by Alabama works with contracts for
the commercial cable and other build
ings here covering $500 tons are the
main features. but there is also a better
demand for wire nails after long stag
nation and also for sheets. Pig iron
Is rather weaker. southern works COM
pcting sharply. while speculative buy
ers of some months ago are selling
below present furnace prices, but the
average for all products is practically
unchanged and ia per cent. below
the highest last year.
The cotton mills are discussing cur
tailment of production. as goods con-
tinue weak with an OUTPUT largely eX-
ceeding distribution, though the week
has brought considerably more in
quiIies. and large snring trade Is
still hoped for. Woolcns are practically
unchanged. Sales of wool at the three
chief markets have diminished of late.
manufacturers buying only for present
needs.
An Advance in Wheat.
Wheat has again advanced about 2
cents for cash, but only II. for May.
although Atlantic exports are little lar
ger than year ago. neither this fact
nor the continued excess of western
receipts explain an advance for which
the basis or the excuse must be sought
in foreign reports. Corn has ceased
to "sympathize" and records little ad-
vance. Cotton Is a shade lower than a
week ago. notwithstanding strong ar
guments by Neill and others. but re-
ceipts from plants go on at nearly the
same rate. spinners takings fall be-
hind last year as before and the mar
kcting of goods does not support the
brilliant estimates of increased con-
sumption this year. Exports in Janu-
ary have been 80 per cent. less, spinners
taking 81 per cent. less and receipts
from plantations 50 per cent. less than
last year. receipts have been larger.
but spinners takings and exports both
smaller than in 1928 from a crop of
100000 bales.
The earnings Of railroads i'm three
weeks of January Were 9.9 per cent.
larger than last year. The stock mar
ket has been lifted by these returns
and hopeful monetary conditions so
that the average for railroad stocks is
$l.S4 per share. and for trusts S1.S4 per
share higher than a week ago. The
expectation of am anthracite settle
ment has been a powerful factor. and 1t
is generally supposed that prices will
rise after the bonds settlement.