River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1896-01-23
STATE oE Trade.
Dun Regards the Situation as Deciced,,
I'erpIexinR.

J'erplexIng.
New York. Jan. 1s.-R G. DUN & Co.
In their weekly review of trade. say:
Failures for nine DAYS of January have
shown liabilities Of sJ56S, 900, against 81
b22,sSl last year in ten days, and se,04l 225
In IL days Of 1894. Failures for the past
week have been much larger In magnitude,
numbering Se5 I'm the United States. against
90 last year. and 81 In Canada, against GO
last year.
The situation could hardly be more per-
Picking for business men. Practical mer-
chants, manufacturers or bankers ran have
little sympathy for those VINO minimize
their difficulties. None doubt that the gov
eminent viii raise money TO meet ohliga-
lions. but how far the money market will
be disturbed or the treasury reserve first
diminished none can say. The business
world cannot know as yet how far foreign
quotations may upset calculation though
there seems every reason to expect peace
full settlement II cannot know what may
be the duties on any important class of
Imports a month hence, whether imports
are likely to exceed exports and draw
away gold. whether the deficit of revenue
VIII continue, or what other taxation WIFI
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 unfavorably all
branches OF business. Under such adverse
that shrinkage in transactions ard result
ing commercial disasters have not been
greater. But four large failures within a
day or two Indicate that the same condi-
lions cannot continue without much en-
barrassment.
house payments. is SIS per cent. larger than
last year. but 2!S per cent. less than n
1883 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 Is per cent less
than In 1893 December shows a gain of
81 over 1895 and decrease of IS, compa red
with 1888. Stocks steadily advanced until
Friday. but the failures brought a more
cautious feeling. After rising on the av-
erage sl.5i per share. railroads closed sl.Sl
higher for the week. Speculation in prod
ucts was 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 expect I'd. Yet pig iron is higher,
Bessemer about 80 cents and gray forge
and anthracite 25 cents, although finished
products are generally weaker, with less
demand. Cont oilers of the coal and coke
output are said to have agreed TO maintain
prices above those OF 1885, which means
dearer pig iron. but II orders for finished
products do not materially increase the ad
vance in material can hardly be maintain ed
Minor metals are weaker. Shipments OF
boots and shoes for the week have been 90
per cent. less than last year. but many Of
the factories are running fun and orders
are scanty, buyers still believing that
prices must go lower"
Bradstreet's says:
while general trade has NOT shown a
widespread tendency to revive from the
holiday depression. there are favorable fea-
lures In q revival In iron and steel prices
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. jobbers
In staples report business slow. Relatively
gres test Improvement is shown In the re-
quest for dry goods, clothing, hats and
shoes. Prints and ginghams are only fair
ly active. with the mills at work in spite Of
the reduced demand"