The Portland daily press., 1897-01-09
BANK CLEARINGS HEAVY.
Railroad Earnings Also Show I'm
prOVement.
BRADsTREET'S REVIEW OF FINAN-
CIAL SITUATION OF WEEK.

Trade Generally Reported Dull Without
New Features-CoIlections Reported
.Unsatisfactory-Wee Failures One of
the Biggest on Record-snpply of
wheat still Holds Out.
New York, January 9.-Bradstrset' g
tomorrow will say: With tho exception
of the reports from dozen South
Atlantic coast and Gulf state cities,
iobbers at nearly all the distributing
centre is show that business is dull and
without new features. Demand has i'm
proved az Chicago and st. Louis for
hats, hardware, shoes and dry goods, but
trade in those lines is fair only. The
colder weather stimulated the purchases
of clothing at some points. Little general
recovery from the holiday dullness is re-
ported as yet. At most centres statesmen
are Just starting out. Collections are re-
ported unsatisfactory and in many in
stances merchants express themselves rs
hopeful OF good spring business.
The price movem ent had little signif-
canoe, advances having been shown in
hides, which have become relatively
scarce. turpentine, coffee, wheat, oats
and tin. Firm ard practically unchanged
quotations are recorded for wheat, -four,
pork, sugar, cotton, print cloths and
petroleum. Reactions are reported in the
quotations for southern pig iron, lard
and corn,
l ~, 10, or1v bot
manufacturers declining to buy until
they receive orders for goods. More
strength is shown by boots and shoes
since the first of the week. Iron and
stesl have been disappointing, as con-
sumers evidently anticipate further re-
duction in prices and refuse to place or
ders. The week has been marked by ex-
centionally heavy orders of Southern pig
iron for export. Cotton goods remain as
depressed and the marE ct is unsatis-
factory as heretofore with lower prices
expected.
The exports of wheat (four included as
wheat) from both coasts OF the United
States this week are ;, loS. osS bushels.
com pared with g. All, 600 the first wesk OF
January, 1896 The total exports of
Indian corn this week WAS 4,8l9, 261
bushels which constitute the largest
week aggregate reported. In the same
week one year ago, the total was $685.
600.
The total bank clearings for the week
ending January 9, Zone day SHORTY are
4 81, 450, 600, 600. an increase over the total
/ in the preceding week, also day short
of 80 per cent, an extraordinarily heavy
gain. The clsRrlngs of the past week
we're noteworthy for being only Ier cent
less than the corresponding total in the
first week Of January, 1895, which In
cluded ak full business days AS con-
trasted with the first week in January,
1895. this week s clearings show gain
of 10 psr cent. They are nearly per cent
larger than Of corresponding period. 1894,
and only IA per cent less than the very
heavy total in the like week of 1898, five
months before the panic in that year:
The weaks total failures throughout
the United States are 4eS1 one Of the
largest ever reported. This is contrasted
with 446 in the first week of 1886.
The railroad earnings are making
tette. comparisons than for some time
past. The earnings of sixty railroads for
December, 1895, aggregate S29, 1So 9oe, a
decrease of per cent from the like total
of December, 1895. The falling of in
November from tile year before was 10
Ger cent and in October, per cent. The
outlook favors still better comparisons
for January.
The December pank clsarings reflect
the Quiet condition of trade in that
/ IL.
for the month aggregate "a, 6S9, Q4S, 600, a
, decrease OF nearly per cent from year
ago a gain of g. per ceut over November,
and an Increase Of 2.8 per cent over Janu-
ary, 1885, the heaviest months total in
that year.
Two groups OF cities show increases 4 1or
December over year ago the New Eng
land group per cent, and the south
western So per cent. The heaviest de-
, crense is that shown In the Middle States
9. 7 Ger cent. For the calendar year OF
, 1895, the total clearings at sixty eight
cisies aggregate s51, 00S, 962, 909, decrease
from 1895 Of 3. g per cent Every group OF
cities shows greater or less deer ease.
Of 15 cities compared with year ago, "a
report gains aud SO report losses
The total stocks of available wheat on
both coasts of the United States and
Canada January l, are the smallest fol
9 any like date for five years. The sup
: niles Of wheat afloat for and in Europe
S on first instant are similarly the smallest,
: except for January 1, 1895, for FIVE years.
The past six months of the cereal yeal
0 show a net increase of wheat stocks III
9 ths United States and Canada Of less
4 than fifteen million bushel, the smallest
9 like increase since these records have
=. been compiled, even only one-thiri of ths
total net increase in this country anf
|. Canada during the first six months o.
q 1896. The earlier wheat crop reports by
: northwestern interests that the expor
# surplus of American wheat would be ex
. ha austed by January /. 1897, for tin
!, cereal year ending June 80. 1897. are me
Y by the recent announcement that the ex
port surplus, including reserves for Jul.
i. next amounts to one hundred million
bushels Wheat continues to go abroa'
weekly in spite OF the estimate that W
! have no more to spare.
i FAILURES FOR 1896.
In Most Branches Liabilities Were Muc