The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1896-03-25
SHOWS LITTLE GAIN.
Tendency In Industrial and Commercial
Circles Not Encouraging.

New York, March Pr. G. Dun &c
Co. in their weekly review of trade say:
Movement toward better things is still
the exception. There is better business in
shoes and small industries, and there has
been a squeezing of short sellers in cotton.
but the general tendency of industries and
prices is not encouraging, and those who
were most hopeful a month ago are still
waiting, not so hopefully, for the expected
recovery. DISTINCTIONS to recovery are not
to be sought primarily in the investment
or the money market, but in the Industrial
reaction after the unnatural expansion Of
demand and prices last year. 1t is a strik-
ing fact that the only great industry which
is now rapidly gaining in business is the
one in which prices have been generally
cut down to last years lowest figures, and
the boot and shoe makers had a reason for
hesitation in prices of leather, which still
average six per cent higher than a year
ago, though hides are IL per cent. lower,
having again declined the past week about
three per cent. If the manufacturers get
narrow profits or none, they are at least
doing business which will keep most Of
the works in operation.
'The wooden mills have different condi-
tions and with prices already reduced be-
low last years lowest average, and wool
53 per cent. higher than it was then, they
are not getting business to keep works in
operation. Sales of wool were the smallest
in any week for years. A sharp decline in
the prices of cotton goods is the comment
of mills on rising cotton. Goods now aver
age lower than since May, 1885, having de-
clined AZ per cent. for the week, print
cloths to 21a cents, which is only sixteenth
above the lowest price on record. The ac-
emulation Of goods in the face of slack
and rapidly diminishing demand has
brought the closing of one of the largest
mills. and others are considering.
THE iron industry shows but q Slight
average decline in prices as combinations
still insist upon the highest prices of last
year, and the demand is naturally cur
tailed. Quotations are deceptive because
lower prices are constantly made to secure
business. But with ore and coke combina-
tions demanding high figures, hesitation
is inevitable.
THE market in wheat has been weak.
The movement of corn continues very
large and prices have declined one cent for
cash. A troublesome feature of the situa-
ton is the Stringency in commercial loans.
not because of scarcity of money, but be-
cause banks are disturbed by failures OF
some Importance
Failures for two weeks of March cover
liabilities of $6799,39 against 372, All last
year. Failures for the week were 261 in the
| United States, against 27S last year. and ~
in Canada. against IS last year."
Bradstreets says:
General trade throughout the United
| States for the first quarter of 1896 is disap-
| pointing. When the Improvement in in
| dustrial and commercial lines between
March and September, 1895, is recalled, oc-
| curing as it did two years after the panic
| of 1898, reason would seem to have been be-
| hind the confidence that the current cal
| endar year would bring general revival
| But the most favorable reports at this time
are those which declare the volume of bust
ness only equal to in few instances in
excess of the like total one year ago..