The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-04-12
BUSINESS IS STEADIER
Improvement Is Noted and the
Future Is Bright.
WEEKLY REVIEW OR. G. DUN& co.

They Report Conditions Better Than at
Any Time I'm the Last Three Years De
crease i'm Liabilities shown in the Rec
ord of Failures-The Iron Market Re
mains Firm Sudden Collapse In the
Wheat Market.
New York, April 12.-R. G.. Dun &
Co.'S weekly review OF trade says: out
Of 4,OO6 failures. with liabilities of $780,,
752,56l. IN the first quarter, seventy
four banking failures covered more than
a fifth of the amount, $l2, 74i,S5O, and s.
S45 failures, with liabilities of $S5,9i1,-
SOP, or nearly three-ffths, are classi-
fed this week according To branches OF
business, leaving only 5S7 failures and
less than a fifth of the liabilities, sl2,-
060,0l9, in branches of manufactures or
trades not specified. Only two of the
thirteen manufacturing classes and only
four of the thirteen trading classes
show liabilities for the quarter larger
than last year, and only five of the
manufacturing and three of the trad
ing classes show larger average liabili-
ties. For the month of March only three
manufacturing and four trading class
es show larger amounts than last year,
and only two manufacturing and five
trading classes show a larger average
Of liabilities.
Returns Disclose Improvements.
In almost every case it is also shown
that the increase is due to one or two
exceptionally large failures in that
class. The returns, compared with
those Of three previous years, disclose
much Improvement already and a
bright prospect for more hereafter. A
sudden collapse in the wheat market,
exceeding 3 cents i'm a day. appears TO
have no other cause than a belated
conception that past accepted estimates
of yield and consumption have been
misleading. Floods and unfavorable
weather for seeding have no weight.
The expectation of greater scarcity and
high prices burst like a bubble. and |
for a time the only support was the |
taking OF profits by spectators for a |
fall The receipts have not warranted |
hopes Of a great advantage, nor do they |
now warrant much expectation Of de- I
cline. Western receipts are smaller |
than last year, and Atlantic exports |
are not large, though over so per cent |
larger than year ago. Corn receipts !,
continue heavy, and exports for the /
week We're 9,s23 1897 bushels. against l. !
l42.7l0 last year, and against Atlantic !
exports of wheat amounting, -four in
Guided, to only l.521122 bushels. against
s67 $50 last year.
Wool speculation Checked.
The speculation in wool has been
checked by the possibility that duties
may take effect on April 1, and some
large shipments from abroad have been
while traders there are
less disposed TO sell; but trading be-
tween dealers makes up more than half
the sales of 1878, 400 pounds for the
week, and since sales in six weeks at
three markets have been 76 AGA, 600 /
pounds. il is not improbable that many
mills have. as is claimed. full years
supply The demand for mems goods
has diminished, the first round of pur-
chases having been completed by many
buyers. with results fairly encouraging, |
and the demand for dry goods, especial
~ OF the lower grades, has caused an
advance of per cent. in some lines.
The iron industry is hampered by the
contest between the Mesaba ore inter-
ests. which preveFs. as yet, any set
Element of ore prices and leads many
TO expect a further decline in finished
products. The Illinois Steel works, |
the Lake Erie works tat Cleveland),
and the works of oliver & Co. and By
ers g. Co. Cat Pittsburg) are stopped
by labor difficulties and some furnaces
have stopped because the production Of
pig had outrun the demand for fin
ished products, and heavy stocks re-
NAMED unsold Bessemer at Pittsburg,
for pig, brings only so and army forge
only SS75 (the lowest on record), but
no quotable decline is seen in finished
products, and nails are strong.