The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-01-23
ouN's TRADE REVIEW.
q Repetition of the Happy Experience OF
1875 F~oreshadowed by Present Condi-

a Repetition of the Happy Experience OF
1879 Foreshadowed by Present COndi-
tIons-
NEW YORK, Jan. le.-R. G. Dun &
Co. say in their weekly review of trade
this morning:
The greatest growth and prosperity the coun-
try has ever aeen came suddenly IN 1873. after
several months OF disappointment because
specie resumption had not yet brought the
benefits expected. 1t takes time for new con-
fdence to reach through easier money markets,
large orders, resumlng mills. expanding EN-
pIoyment, and larger distribution, to the re-
suits which make still greater and last
ing gain possible Such gradual and steady
improvement has been in progress for mere
than two months. The output Of pig iron has
gained Alt per cent. since October l. The out
put OF coke has increased Ss.7 per cent. since
October l.. Sales OF wool have again become
large. Money markets feel 4 steady increase
in demand for commercial and manufacturing
loans. Additional works have gone into oper-
alton each week in January, and the working
force is larger than at any time for six months
The gain may be ascTibed to the deliberate
Judgment OF the ablest and most prudent men
in business.
1t is not time for high prices. Many who
are anxious to get early hold on the market
are making for the moment lower prices than
they could afford tQ maintain. Wl!h the in
crease in output Of pig iroh to i59. 20 tons
weekly, against lI2.27S last month, the price Is
6 shade lower at tue east and Chicago. but
heavy PURCHASES already advance BeSsemer a
shade at Pittsburgh. Steel bars have been re-
duced to one cent and some other finished
products one dollar per ton, but the demand Is
on the whole steadily growing. The coke out
put has risen from $1,000 to 9I,3i2 tons weekly,
and minor metals are a shade stronger.
Textile malgtactnres are not encourage by
the demand for goods, thJast fi6re print cloths
were sold than for many weeks Lower prices
are expected in goods. AMI slow buying is not
unnatural since cotton has fallen LIS per cent.
from September IL; print cloths 8 per cent,
bleached goods 80 to So, and browl goods 21i,
8 and 4 per cent. Though wooden goods do not
imrrovc, there have been purchases by large
mills which cover for two weeks of JanuGry
II, 800 pounds at the three chief markets,
against Il,s17 600 last year. Some large par
chases OF leather indicate that SOME SHOE man
ufacturerS are seeing their way to more active
work. and shipments from the east in January
thus far are 70 per cent. larger than last year.
Hides ut Chicago are Pa per cent. lower.
Clearinghouse exchanges for the month thus
far are less than one per cent. b5iOw last
years, through still 25 : per cent. smaller than
the year 1892, the year OF greatest prosperity.
The railroad earnings AMI tonnage for jan
uary thus far are light, owiag 10 western
storms, but December returns cover S33, $50, 9l2
on roads in tie United States alone, Only 80
per cent. less han last year. The PennSylvd-
MIA and some other roads have Contend l.
buy rails and several costly improvements
have been ordered. the Columbia bridge alone
calling for 70O) tons OF steel and Il terminal
Improvement for the Erie will cost $40 0,O10.
The wheat market has varied but Slightly.
closing 4 quarter of q cent lower. Western
receipts for the week, ] So, 052 bushels. against
2,9l6.2T4 last year, are checked by storms and
by current prices in view Of farmers expecta-
tons.
Atlantic exports were 1,i56,iJ5 bushels, -four
included, and for two weeks 3,4S4,3l7, against
4,IS3, 100 last year. Traders begin to seIlize
that enormous exports OF corn are taking the
place Of wheat in foreign consumption.
Cotton took q rise OF an eighth on Il traders
estimate without change in conditions.
The money market has been disturbed by
q combination of large bankers not TO lend on
call below two per cent. which invited 2I
sorts OF financial institutions to take the mar
ket, caused payment Of bank loans for some
millions and left supplies OF funds so heavy
that time loans were sharply marked down.
More was done in commercial paper, though
offerings increased but moderately.
Receipts from the interior exceeded ship
ments by Sl,5O0,0O Exports continue TO ex-
coed last years, for the week 8 per cent, while
imports fell 10 per cent. below last years.
Failures for the week have been 455 in the
United States, against 30 last year, and Il il
Canada, against 81 last year.