The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-02-01
YEAR IS WELLSTARTED
Real Gain in Trade Shown in the
First Month.
WEEKLY REVIEW OR. G. Dun & &C.

| Many Iron Works and Wooden Mills Have
Started Up and I'm Many Other Industries
the Spirit of Activity Reproves the Ten
dency Toward Depression-i>cciine la
the Price of Wheat-Wool sa.es Very
Heavy-Cotton Les, Attractive.
New York, Feb 1.-R. G.. Dun & Co. 8
Weekly Review of Trade says: Janu-
airy has been a month of disappoint-
ment, but of real gain. Nearly every
body had promised himself land Of
milk and honey after New Years, and
the slow progress looks like standing
still to men in such a state of mind.
Moreover, there are multitudes through
out the country who have been taking
large ventures in advance of, or part
from. their regular business, because
they expected a rise in prices But
prices fail as yet to bring them profit
Wheat has declined, cotton has scarcely
risen enough to pay brokerage, wool
holds steady, in spite of generous buy
ing, wooden goods hardly change in
prices, iron and its products decline
leather is sluggish. hides are lower, as
some shoe manufacturers accept shade
lower prices, the average of railroad
stocks is slightly lower than it was Dec
Fl, and the advance in trust stocks has
been small. To traders in such proper
ties the month has been disappoint-
ing.
Resum p tions Are Numerous.
Yet during the past week the record
shows that Ten iron works have started
and only two have stopped; thirteen
wooden works have started, and nine
more are about ready to start, while
three have stopped. Similar things are
seen Ia other industries, and the adj
ditionai establishments are not starting
without some increase in orders re-
ceived
The decline in wheat was over cents,
in spite of an official report of a yield
far below the estimates generally ac-
cepted. This reflects a perception of the
error of the report and also of the in
fluence of the enormous exports of corn,
instead of wheat, which were $4,000, 900
bushels in seven months. When two
bushels of corn can be had for less
than one bushel of wheat it is largely
preferred in European markets, and in
January 1881 27 bushels of corn have
gone abroad from Atlantic ports, against
5,306, $40 last year, while the Atlantic
exports of wheat and flour have been
6,535, 154 bushels, against S403,I65 last
year. AS the great crop Of corn pre-
vents much advance in its price, its
outgo affects the demand for wheat,
and a heavy liquidation of speculation
has occurred, with the price of corn
scarcely changing.
Cotton looks less attractive to trad
ers, because the American mills are Ia
boring over plans to reduce a great sur
plus Of goods, and the prices of many
have declined. The taking Of northern
spinners have been in five months A.
600 bales less than last year, and 423,-
900 bales less than in 1S945.
Wool Sales Are Heavy.
The sales of wool in January have
never been surpassed in that month,
nor in any other month. except last
November and July of 1895 and 1892. In
the earlier years a sudden demand for
consumption was the cause, but the in
crease in orders for wooden goods was
small in November, and has been small
in January, compared with the pur-
chases on anticipated possible duties.
The price has remained about steady
Iron and steel show little gain. as
production had increased heavily before,
and the gradual enlargement of demand
for finished products has not overtaken
that increase. Lower prices result for
Bessemer pig, gray forge, and for
southern iron at Chicago, for angles,
and for cut nails and the average of
all quotations is the lowest since early
last year For sheets there is active de-
mand and better also for bars, on ac-
count of much car building. Tin and
copper are a shade stronger, but COM
petition causes sales of tinplates 10 to
Is cents below the agreed price.
The failures for the week have been
331 in the United States. against 404
last year, and fifty-seven In Canada,
against seventy last year.