Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1897-01-02
WAS DEPRESSING FEATURE
Bank Failures During the Week Had
a Bad Effect on Business.
Holiday Trade Not as Satisfactory AZ
Anticipated---The Volume or
Business i'm All Branches
Was Not Large.

Naw York. Dec. 26.-R. q. Dun & Co.'s
weekly Review of trade said:
Tba failure of two important banks,
~ sacond I'm size of business at Chi
go and the oldest at st. Paul, with
sc'ne others dependent on Them closes
nnt favorably a month which promised
40 and with only moderate commercial
aisasters. 1t does not lessen the erect
30 those failures that one was caused
nv ormou loans in aid OF an electric
railway and other concerns, and that
the other appears to have resulted from
heavy ventures In unsaleable real es-
tore Since several thousand business
mon and depositors are for the time em-
no rra ssed as much as the SPECTATORS
thar caused the trouble, the
e. the reverse of hopeful. although IL
comes when a markets are Wen
sunplied and when no serious erect In
business Is to be apprehended.
other important events of the week
orc the failure of the billet and rail-
pools to find a basis for agreement n
the somewhat general cha OF
hands or the reduction OF wages In the
shoe manufacture. The holiday trade
has been fair but generally in articles
of medium grade.
The fall in steel billets from over sZO
to about SIG at Pittsburg, and In steer
rails from $2s net at the mills TO go, less
brokers' commissions, produces % great
a change in other prices and condltiohs
OF business that the meeting held mere
this week, for he purpose OF reVlVlhs
pools and fixing prices, Influenced OPP
erations throughout the country But
no agreement was reached and mean
while contracts have been made COW
ering the wants of most TOT
three months, and some for the whole
year 1897, and 1t is said that some large
contracts have been made at $lo, at
Pittsburg, and s17.50 at the east. Bes-
semer pig has declined to $1l. 15 and gray
forge to 1886 at Pittsburg, while bar
and other finished products remain un-
changed, though 100, 1000 bundles of cot
ton ties have been contracted for at %
cents per bundle. The production OF
coke increases rapidly $3.50 ovens being
I'm blast, with an output of 97,l55 tons
for the week. Scarcely any business
has been done in the minor metals, and
sll.37 is quoted for lake copper, $l2.S5
for tin and 1906 for lead.
In cotton manufacture there Is a fur
ther decline in some staple goods and
takings by northern spinners are disap-
pointingly light. Print cloths accumu-
late and do not advance. Raw cotton
comes forward just as it did in other
years, when official and other stories OF
injury resulted in great crops. Sales OF
wool are restricted by the general con-
v.ction that prices asked by interior
holders cannon be realized, ana there Is
a considerable disposition to unload
speculative purchases at seaboard mar
kets, Most manufacturers have more
wool than they have orders, and others
meet as yet no satisfactory demand Tor
goods. Sales Of wool ere only 2~,363,OOo
pounds at the three chief markets,
against 1924, 300 for the same week last
year.
Wheat has grown a little stronger in
spite Of the disturbance of h Chicago
market. Exports rave been l~,41l,443
bushels, -four included as wheat, for
Ave DAYS. and $780,, 5s7 for four weeks,
against 1927, 1853 for the same weeks last
year, while from Pacific ports the in
crease has been large. Western receipts
are still small, amounting to S,455,63l
bushels In three weeks OF he month,
against l4,344, $50 last year.
The volume of business, all branches
considered, is not large. Payment
through clearing houses a been for
the week 20 per cent less than last year,
and for the month thus far the daily
average is 9.S per cent less than last
year.
The aggregate Of gross earnings of all
railroads in the United States, reporting
for the first half of December or a part
thereof, Is $12, OH, 126, a decrease of As
per cent compared with last year.
or sections of the country In which
representative roads have reported,
western roads, including the grangers,
make the most favorable showing.
Traffic on all roads has been far from
satisfactory for several months. and as
yet there is little indication of improve
ment, but the heavy losses In gross
earnings reported by many roads is not
entirely due to loss OF traffic.