The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-01-18
The Situation Gould Hardly Be
More Perplexing.
NO TENDENCY TO REVIVE
Bad Effect Of Proposed Finan-
cial Measures.
AN INCREASE OF FAILURES
All Branches of Business Waiting for
Final Settlement of Financial
Complications that Have
Sprung Up.

New York, Jan. 17.-R. G.. Dun &,
Co.'S Weekly Review of Trade which is
sues tomorrow will say:
The situation could hardly be more
perpleXing for business men. rracti-
cal merchants, manufacturers or bank
ers can have little sympathy for those
who minimize their difficulties. None
doubt that the government will raise
money TO meet obligations, but how far
the money market will be disturbed
or the Treasury reserve first diminish
ed none can say. The business world
cannot know as yet how far foreign
questions may upset calculations,
though there seems every reason to
expect peaceful settlements. 1t can
not know what may be the duties on
any important class Of imports a
month hence, whether imports are
likely TO exceed exports and draw a
way gold, whether the deficit of rev
enue will continue, or what other tax
alton will be levied Failure of the
Senate, SO far, to take any action upon
financial measures proposed by the
President, or those passed by the
House affect unfavorably all branches
of business. Under such adverse cir
cumstances, it is actually encouraging
that shrinkage in transactions and re-
sulting commercial disasters have not
been greater. But four large failures
within day or two indicate that the
same condition cannot continue with
out much embarrassment.
Cotton receipts still indicate yield
neither as small as Mr.. Neill's reit-
Grated estimate of 6,500,000 bales, nor
as large as the 100000 bales esti-
mated by others, but it is yet to be
seen whether supplies held for better
prices are of consequence. The price
declined an eighth, with accounts OF
narrower demand by spinners abroad
and declining prices for goods in this
country.
No branch of manufactures has pro-
gressed, for all are unayoidably wait
ing, both for settlement of financial
doubts and for a demand which does
not yet appear Cotton goods are not
quotably lower, but concessions to Sc
cure business are reported in many in
stances, and many of the mills
have been running largely in antici-
patton of orders not yet received.
There is little better inquiry for sta
piles, with indications that dealers
stocks are running low.
Failures for the past week have been
much larger in magnitude, numbering
305 in the United States, against 373
last year, and 81 in Canada against 60
last year.
BRADSTREET'S WEEKLY REVIEW.
New York, Jan. 17.-Bradstreet's to-
morrow viii say:
While general trade has not shown
a widespread tendency to revive from
the holiday depression, there are favor
able features in a revival in iron and
steel prices and continued cereal eX-
ports. Reports from Baltimore, New
Orleans, and Buffalo, and in certain
lines at Chicago, st. Paul, st. Louis,
and Minneapolis and lobbers, in staple
lines, report business slow. Travel
lers are on the road, but returns are
irregular in only few instances, in
dicating the usual volume of orders
for spring delivery. Relatively, great
est improvement is shown in the re-
quest for dry-goods, clothing, hats,
and shoes. Prints and ginghams are
only fairly active, with mills at work
in spite Of the reduced demand.
Exports of wheat (flour included as
wheat) from both coasts of the United
States, 3,210,000 bushels this week as
compared with 3,710,0O0 last week,
3,564,000 in the week a year ago, $685.
900 bushels in the week two years ago,
and 3,637O00 bushels in third week of
January, 1898.
Business failures in the United
States for the week number 412, as
4 %hn
week, 37S for the week last year, 404,
300, and 4O5 for the corresponding
periods in 1894, 1898, and 1892.