The record-union., 1897-01-23
WEEKLY REVIEW OF TRADE.
MORE BUSINESS, THOUGH NOT
AT BETTER PRICES.
Larger Production and Buying of Ma.
terials, in Hopes That Quota.
tons VIII Soon Advance.

NEW YORK, Jan. Or. G. Dun &
GO. will say tomorrow in their report
OF trade:
Ihere is more business, though not at
better prices. 1t is interesting that al
most all prices which change at all are
lower than a week ago, and yet bust
ness is unQuestionably larger. There is
larger production, but as yet not as
much increase in consumption, and
there Is larger buying of materials, but
at present only because better prices
are expected in the future
few conspicuous failures during
the week have had no material infiu-
ence. The market for securities is
slightly stronger, and yet there is very
little doing. The number of hands en-
ployed, all industries considered, is
signify larger than a week ago, with
out adverse change in the rate of
wages. All apprehension of foreign
disturbance Of money markets has
passed away, but there is still great
caution in making loans. 1t is a mis-
take to reckon these as symptoms OF
depression On the contrary, in spite
OF the lower range OF prices in impor-
tant industries, they all indicate larger
production and a consumption increas-
ing, not as yet large, but steadily.
The earnings of railroads in January
have been 4 per cent smaller than last
year.
wheat, corn and cotton exports are
the key of the financial situation, and
during the past week wheat has de-
clined SO cents and corn Is cents, while
cotton Is unchanged. The Western re-
celptS OF wheat are still small, 5S1 900
bushels less than a year ago, and for
the three weeks of January 4,519, 159
bushels, against 7,606,079 last year;
but the Atlantic exports flour included,
We're 1884, 715 bushels for the week.
against 2,366,457 last year, and in three
weeks of January have been 500, 032
bushels. against 6,S49,64S last year.
The wooden industry is as slow as
ever, and no real improvement appears
in the demand for goods, although
owing to the lateness of the season
there is a little more doing, both in
spring and in winter goods, without
change in prices. The heavy buying Of
wool mentioned last week has contin-
ued, and is understood to be in antic.-
Boston alone having amounted to H.
Soo,OOO pounds Quotations have not
changed as yet, although Western hold
ers are quite stiff.
In the minor metals stronger tone
is general. The iron industry is en-
gagged in settling relative prices, and
the slow operations retard business III
many branches, since the future Of
prices is uncertain. The Bar Associa-
ton will probably hold a session to con-
slider the reduction Of steel bars to one
cent, and in large contracts even lower,
and the Billet Association has again
been called together to meet on the
18th, although there is no prospect Of
its reorganization, and billets are SELL
ing a SO 25 at Pittsburg.
The increase in manufacturing is per-
haps more definitely shown than in any
other way by the production Of coke,
which steadily increases, 9,S17 ovens
being in blast, against S,713 idle, and
the weeks output, 10O,8S6 tons, is over
double the output of October
Failures for the week have been 400
In the United States, against 1913 last
year, and 60 in Canada, against 81 last
year,