The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-12-25
DuN,s REVIEW OF TRADE.

NEW YORK, n. Y, Dec. Par. G. Dun & Co.
will say tomorrow in their weekly review OF trade:
The failure Of two important ban IS, the second
in size of business in Chicago and the Oldest at
ST. Paul. with some others dependent on them,
closes not favorably month which promised to
end with only moderate commercial disasters. 1t
does not lessen the effect of these failures that
one was caused by enormous loans in aid of an
electric railway and other concerns in unsaleble
real estate. Since several thousand business men
and depositors are for the time embarrassed as
much as the speculators that caused he trouble,
tn breakdown is the reverse o. hopeful at pres
emit although it comes when money markets are
well supplied and when no serious effect in BUSH
ness is TO be- apDrehended.
other important events of the week the fall
ure of the billie. and rail pools 10 find basis for
agr ement and the general discharge of hands or
rel uctlon OF wages IN ne shoe manufacture. The
holiday trad has been fair, but generally in art-
c Of medium grade. he reports OF earnir gs
are not cheering and the aggregate for December
thus far has been AS per cent less than asst year
the granger and other Western roads showing most
decrease.
The fall in steel billets from over $50 to about
ST. Pittsburg and in eel rails from for
mills o S 3, less brokers' commissions, produces
so gle change in other prices and conditions of
business that the meeting held here this week for
the purpose OF revivIng pools and fixing prices in
huenced operations IN oughout the country. But
no agreement was reached and meanwhile con-
tracts have been made covering he wants OF most
producers for three months and some for the
whole of the year 1897. and it is said that sach
large contracts have been made at $50 at PittSburg
and ) II so at the East
Bessemer pig ha declined to Sl1 Is and gray
forge TO So IS at Pitt>burg, while bar and other
finished products remain unchanged, though
100000 bundles of cotton ties have been con-
tracIed Tor at 60c per bundle The production Of
CO.'S increases rapidly, $3.50 ovens being in blast
with output of 97,115 for The week
scarcely any business has been done in the minor
metals, and $ll 81 is quoted for lake copper,
$12 IS for tin and IS % for lead.
In the cotton manu- acture there is further de-
cline IL some staple goods and takings by North
ern spinners disappointing light. Print
cloths accumulate and do not advance. Raw cot
ton comes forward just 1t did in other In
stances when there great crops Gales of
wool are restricted b. the general conviction that
prices asked by interior holders cannot be realized
and there is considerable Disposition to unload
specu alive purchases at ssaboard markets. Most
manufactur RS have more wool than they have
orders and Others meet yet satisfactory de-
mand for goods.
sales of wool were only 2,623000 pounds at the
three chief markets, against 5,924, 100 for he
same week last year. Wheat has grown little
stronger in spite of the dis urbance of the Chi
eago market Exports have been 1,471,442 bash
s. -four included. for five days, and 1892 5S7 for
four weeks against 1927 ,959 for the same weeks
last year. The volume If busin SIS, all branches
considered, is not large. Payments through
Gle arlugLouses have been for the week % per
less than asst ar, and for the month thus far the
daily average is 9S per cent less than last year.
Failures for the week have been 29I in the
Uni ed states against 1872 last year, and A in
Canada against 40 last year.