The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1897-01-02
Dun g. CO.'S. TRADE REVIEW
Bank Failures Cause the Month TO Close
UnfaYorable.
THE HOLIDAY TRADE REPORTED FAIR.
A Further Decline III Cotton Manu-
factures---A Decrease III ND Per
Can't. in Railroad Earnlnys---Vol-
ume OF Business Not Large.

ume of Business Not Large.
T.. Ct. Dun 4 Co.'S weekly review OF
trade, dated Friday, said:
The failure OF two important banks,
the second in size Of business ut CHI
cago and the oldest in st. Paul, with
some others dependent on them, closes
unfavorably month which promised
to end with Only moderate commercial
disasters. 1t does not lessen the effect
Of these that one was cmlsed by enor-
nous loans in aid of al electric rail-
way and other concerns, and that tpa
other appears to hayo resulted Kx,.a
heavy ventures in unstable real rs':te.
Since several thousand business men
and depositors are for the time embar-
rassel M much as the spectators that
caused the trouble, the breakdown is
the reverse of hopeful at present, al
though it comes when the money mar
kets IRE well supplied and when 10 re.
cessiya effect injuries are to be appre-
henued.
Other important events OF the week
are the failure of the billet and rail
pools to lind D basis for agreement and
the somewhat general discharge OF
hands or reduction Of wages in tho shoe
manufacture. The holiday trade has
been fair, but generally in articles of
medium grade.
Ia the cotton manufacture there is
further decline in some staple goods,
and takiags by Northern spinners arc
disappointingly light. Print cloths &C.
emulate and do not advance. Raw
cotton comes forward just as it did in
other years when official and other
stories OF injury ended in great crops.
Sales Of wool are restricted by the
general conviction that prices asked by
interior holders connot be realized, md
there is considerable disposition to IN
load speculative purchases at seaboard
markets. Most manufacturers have
more wool than they have orders, and
others meet rs yet no satisfactory de-
mand for goods. Sales Of wool were
only 2,363, 900 pounds at the three
chief markets, against ., 9l4,30o for the
same week last year.
Wheat has grown little stronger III
spite of the disturbance Of the Cbica-
go market. Exports have been l, Al,
443 bushels Iilour incIuaedl for five
days and 1892, 5S7 Tor four weeks,
against 8, 527, 959 for the some weeks
last year, while from ports the increase
has been large. Western receipts are
still small, amounting to S,455,G
bushels in three weeks OF the month,
against Is, 344, $50 last year.
The aggregate Of gross earnings OF
all railroads in the United States re-
porting for the first half Of Deccmbe,
or part thereof is $l2. OF, 1926, 8 de-
crease OF ID per cent. compared with
last year and of 1l.4 per cent. com.
pared with the corresponding time OF
1892, the latest period of ordinary
business prosperity with which com.
parsons can now be made. OF sec,
tons Of tho country in which repre-.
sentative roads have reported Western
roads, including the Changers, make
the most favorable showing. Southern
and Southwestern roads report small
loss. In the other groups reports ars
as yet incomplete. AL classes of roads
report decrease compared with both
years with which comparison is made.
Traffic on ell roads has been far from
satisfactory for several months, and az
yet there is little indication OF improve.
ment, but the heavy losses in gros:
earnings reported by many roads is not
entirely due to loss Of traffic. The
fal ing off in traffic has been greatest
in the high-class freights, and the los!
in gross earnings is consequently rela.
lively larger than the loss in traffic.
The volume CT business, advances
considered. is not large.
Failures for the week have been POI
in the United States, against 1922 last
year, and A in Canada, against 10 last
year,