Iron County register., 1896-03-19
puN.s COMMERCIAL REVIEW.

Large Hone but Little Actual Business Re-
ported-Reaction of Prices from Febru-
ary-The Output of Pig Iron Stih Ex-
ceetls Consamption of Manufactured
PrOducts-Wheat Weaker and Corn .
Shade Eirmer.
NEW YORK, March 14.-R. G. DUN 4
Co. say to-day:
Failures for the week have been 30C
in the United States, against 266 last
year, and GO in Canada, against 81 last
year.
Waiting is still the rule Large
hope, but little actual business, ex-
plains the strength of some markets
and the weakness of others. Thus far
there is decided increase in the de-
mand for boots and shoes, secured by
considerable concessions in prices, but
in other branches of business conces-
sions are made in vain, or are not made.
Meanwhile. it is encouraging to
know that one of the most important
business interests has realized definite
improvements. The insurance com
panies, of which returns are given in
detail this week, show larger bust
ness and larger income than ever be-
fore, and also most remarkable
soundness of mortgage loans and other
investments.
As prices about Feb. uary 81 were, on
the whole, the lowest ever known in
this country, considerable space is
given this week to comparison OF
quotations in the most important
branches of manufacture, which show
the extent of reaction since t.ae rise
last fall. It is especially noteworthy
that prices of materials have varied
quite differently from from prices OF
manufactured products. Thus cotton is
27.9 per cent. higher than a year ago,
but cotton goods average only 1917 per
cent. Wool is but 4.3 per cent. higher
than year ago, but woolen goods are
on the whole about four per cent low
er. Pig iron is only II per cent. higher
than year ago, while finished prod
ucts of iron and steel average IS per
cent higher. Boots and shoes are
practically not higher than year ago,
while leather has risen lis per cent,
and hides at the moment are only 90
per cent. higher.
These comparisons are important be-
cause they disclose something of the
grave dislocation of prices which in
adequate consumption and conlkina-
tions have produced.
Cotton goods sell but slowly, not
withstanding recent reductions in
price, and the enormous accumulat: on
of unsold stocks causes apprehension
in many quarters.
In woolens the demand is very
largely for low-grade goods, and fierce
competition affects the prices CT the
better grades materially. In clay
worsteds the manufacture has been so
far overdone that stoppage of some
most important works is considered
not improba BILE. Sales of wool at the
three chief markets are the smallest in
five years. Prices are still maintained
with decrease in Australian supplies.
The market for wheat is weaker,
with no better reason than the gov
ernment report of wheat in farmers
hands, which is altogether out of
keeping with the government estimate
year ago, and it is probable more
nearly correct. Western receipts still
exceed last year, and for two weeks
have been 4,567, 392 bushels, against
1886, 715 last year, while the Atlantic
exports, flour included, this week a
little smaller than "a year ago, have
been for two weeks {, ,921, ,O97 bushels,
against 3,510, 15a last year.
Corn is a shade firmer without ap-
parent reason, and cotton gained a
sixteenth, although the prospect of
yield this year is at least as good as
it has been at any time