The record-union., 1896-01-18
R. G. Dun & Co.'s Review Of the Out
look for Business.
Recent Failures Due Partly to the In
activity Of Congress.
Comedian Nat Goodwin Sued for 5O,-
900 by a Chicago Reporter-The
Populists VIII To-day Decide Where
Their Convention VIII Meet-A
Wild Train in Colorado Telescopes
a Passenger Coach.

NEW YORK, Jan. 17.-R. G. Dun &
Co. will say tomorrow in their weekly
review of trade:
Failures for nine days of January
have ssnown liabilities of 5,56S, 900,
against s. g., 81 last year in ten days,
and S904l ,225 in eleven days of 1894
The failures for the past week have
been much larger in magnitude, num-
bering 395 in the United States, against
373 last year, and 81 in Canada, against
60 last year.
The situation could hardly be more
perplexing for business men. Practical
merchants, manufacturers or brokers
can have little sympathy for those who
minimize their difficulties. None doubt
that the Government will raise money
to meet it's obligations, but how far the
money market will be disturbed or the
treasury reserve diminished none can
say.
The business world cannot know as
yet how far foreign questions may
upset calculations, though there seems
every reason to expect a peaceful set
tlement. 1t cannot know what may be
the duties on any important class of
imports a month hence, whether i'm
ports are likely to exceed the exports
and draw away gold, whether the de-
felt of revenue will continue, or what
other taxation will be levied.
Failure of the Senate thus far to take
any action on the financial matters
proposed by the President, or those
passed by the House, affects unfavor-
ably all branches of business. Under
such adverse circumstances it is actu-
ally encouraging that shrinkage in
transactions and resulting commercial
disasters have not been greater. But
four large failures within a day or two
indicate that the same conditions can
not continue without much embarrass-
ment.
Domestic trade, shown by clearing
house payments, is S.5 per cent larger
than last year, but 27.S per cent. less
than In 1893, and in nearly all trades
there is much hesitation.
Railroad earnings for the first week
Of January Were ST per cent larger
than in January, 1895, but 1875 per
cent less than in 1898. December
shows a gain Of 81 over 1894, and a
decrease of rs compared with 1898.
Stocks steadily advanced until Fri
day, but the failures brought a more
cautious feeling. After rising on the
average 81 81 per share, railroads
closed 81 so higher for the week. Spec
ulation in products was active, and
wheat was practically unchanged,
though Atlantic exports for two weeks,
-four included, have been 4,4S5, 100
bushels, against 4,423, ,124 last year.
Western receipts still make short-crop
predictions ridiculous, amounting for
two weeks of January to 5,421, 900
bushels, against 1858, 900 last year.
Corn receipts were also liberal, and
exports about five times last years.
Cotton receipts still indicate a yield
neither as small as Mr.. Neill's reiter-
ated estimate of 6,50ooe0 bales, nor as
large as the 100000 bales estimated
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 de-
clining prices for goods in this coun-
try.
Cotton goods are not quotable lower,
but concessions to secure business are
reported in many instances, and many
of the mills have been running in an
ticipation of orders not yet received.
There is little better inquiry for
staples, with indications that dealers
of fine and fancy woolens has brought
no change in prices and revisions
caused by recent openings Of worsteds
have been generally toward lower
prices.