The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1896-01-18

the money market. The dissolution of
the Morgan bond syndicate. announced
on Wednesday last, was no DOUBT IN
evftable as no reason could be founu
for its continued existence. II would
seem however, that this action renoers
preparations TO bid for the bonds ana
10 nav for them after allotment more
scattered, and therefore more likely 70
produce an effect on rates for money.
20 say nothingof the probably increased
Withdrawals of gold from the treasury,
which would result. Efforts to obtain
gold for bond subscription purposes
continue and a premium of u TO - or
a little higher has been paid for sup
plies, the same rates being also quoted
for legal tenders. Large transactions
on this basis occurred early in the
week both in specie and legal tenders,
though the immediate demand mas
slackened and the premium has fallen
off correspondingly. The anomalous
spectacle has been presented OF gold
both arriving from and being shipped
to Europe ut the same time, the former
movement being an artificial one. prof
liable only on account of the premium
referred to above.
The absence of selling pressure and
Improvement of prices for Americans
in London caused covering of shorts
and some buying by the smaller trad
London's purchases were, however, on
a limited scale. and represented clos
ing of professional bear accounts IN
that market and at the close of the
week, the tendency abroad in regard
10 our stocks was less favorable.
un's Report.
New York, Jan. 17.-R. G.. Dun
Co.'S Weekly Review of Trade. which
issues tomorrow. will say: The stu
alton could hardly be more perplexing
for business men. Practical merchants
and manufacturers or bankers can
have little sympathy for those who
minimize their difficulties. There is
no doubt that the government viii
raise money TO meet its obligations.
but how far the money market would
be disturbed or the treasury reserve
first diminished, no one can say. The
business world cannot know as yet how
| far foreign questions may upset cal
culations, though there seems every
reason to expect a peaceful settlement.
! 1t cannot know what may be duties
on any of the important imports
month hence whether imports are
/ likely to exceed the exports and draw
away gold, whether the deficit of the
revenue will continue, or what other
taxation will be levied. The failure
of the senate to take any action upon
/ financial measures proposed by the
! president or those passed by the house
/ affect favorably the branches of bust
ness. Under such adverse circum-
stances IL is actually encouraging that
shrinkage in transactions and result
ing commercial disasters have not been
greater. But four large failures with
in a day or two indicate that the same
condition cannot continue without
much embarrassment. Speculation in
products was not active and wheat
was practically unchanged, though
Atlantic exports for two weeks, flour
included, have been 4,4S3,l9O bushels,
against 4,27S, 125 last year.
| Wheat-Receipts still make short
predictions ridiculous, amounting for
the two weeks of January to 5,421 ,97e
bushels. against 2,559,122 last year.
Corm-Receipts were also liberal and
exports about FIVE times last years
The opening of fine and fancy woolens
has brought no change in prices. There
has been some demand, not enough To
keep most of the mills running full.
Sales of wool in two weeks have
been 4.994, 800 pounds domestic and
$500, 300 foreign. against 6.369,6l5 do
nestle and 4,410, 200 foreign last year
The pig iron output the first week In
January was 207, 4S1 tons, a decrease Of
9,316, or 4.3 per cent. in December, and
unsold stocks increased 81, 1876 tons, OF
over 10000 weekly, while great stee
companies, whose stocks are not re
ported, produced in December 342, 93
tons. The production Is so far beyond
: the present demand for finished pro
ducts that temporary stoppage o
many furnaces is expected, yet pig irol
; is higher, Bessemer about so cents
and gray forge and anthracite 2
cents, although finished products ar
J generally weaker, with less demand
: Controllers of the coke and ore outpu
7 are said to have agreed to maintain
prices above those of 1895, whicl
makes dearer pig iron, but IL order
for finished products do not materializ
the increased advance in materials cal
hardly be maintained. Minor metal
are weaker. with copper at 1885, abou
5000 tons of lead at cents and tin a
10 cents. Failures for the past weel
have been 1896, as against 1913 last year