The record-union., 1896-02-01
WEEKLY REVIEW OF TRADE.
Failures the Past Three Weeks in Ex
cess of Those Last Year.
Though Business is Still Waiting,
There Are Some Signs of DELI
mite Improvement.

NEW YORK, Jan. 31.-R. G. Dun &
Co. will tomorrow say in their weekly
review Of trade:
Failures in three weeks Of January
show liabilities of S17. .S36.511, against
SO, 6S5,06 last year; in manufacturing
S6,661, 119 this year. against S2,279, ,193
last year; in trading S10,317, 800 this
year, against $S, 165, ,267 last year. Fail
ures this week have been 404 in the
United States, against 354 last year,
and 20 in Canada, against 81 last year.
Though business is still waiting, there
are some signs of definite Improvement.
1t is now believed that the first pay
ment for bonds will cause no further
pressure and the money markets are
easier as respects loans on collateral,
though the difficulty of making COM
mercial loans still checks operations.
But large maturities at the end of jan
uary have been met more satisfactorily
than was expected, and merchants and
bankers report that the signs promise a
good spring trade. Domestic trade re-
corded through clearing houses is 6.5
per cent. smaller than a year ago.
| Signs of Improvement in the iron and
steel business are gratifying, even
though they spring from combinations
controlling coke and ore. A contract
for 10000 tons Of rails, Pacific delivery,
taken by an Eastern concern in compe-
tition with foreign makers, a contract
for 5000 tons of plates for the East Jer-
sey Water Works, contracts for 1000
tons of cast pipe at $40 20, taken by
Alabama works, with contracts for the
o1 oil Iv1fl 1i,,cr
here, covering $500 tons, are the main
features, but there is also a better de-
mand for wire nails after a long stag
nation, and also for sheets. Pig iron is
rather weaker, the average for all pro-
ducts being practically unchanged, and
la per cent. below the highest for last
year
Coke production has again been cut
down 10,975 tons in a single week. An
thracite producers and carriers have at
last made a new agreement, dividing
the spoils for the year, which it is sup
posed will be more nearly observed
than others which have preceded.
The demand for boots and shoes does
not enlarge, though prices still decline
about per cent. for the week, and
hides and leather are both lower.
Cotton goods continue weak. Wool
ems are practically unchanged. Sales
OF wool at the three chief markets have
diminished of late, manufacturers buy
ing only for present needs.
Wheat has again advanced about 3
cents for cash, but only IL cents for
May, although Atlantic exports are lit
tie larger than a year ago. Corn re-
cords little advance.
Cotton is a shade lower than a week
ago. The marketing of goods does not
support the brilliant estimates of in
creased consumption this year. Ex-
ports in January have been so per cent.
less and receipts from plantations 80
per cent. less than last year.
The earnings of railroads in three
weeks of January were 9.9 per cent.
larger than last year. The stock mar
ket has been lifted by these returns
and hopeful monetary conditions, SO
that the average for railroad stocks is
81 81 per share, and for trusts S1.S4 per
share higher than a week ago. The ex-
pectation of an anthracite settlement
has been a powerful factor, and it is
generally supposed that prices will rise
after the bond settlement.