The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-02-08
FAVORABLE REPORTS.
General Trade Receivers Some-
what in the South.
BRADSTREET'S BUSINESS REVIEW.

Production of Cotton Goods Has Not
Strengthened the Market on "a Yet Ad-
vanced Prices Check tn the Number of
business Failures-Week In Wall street
New York, Feb. S.-Bradstreet's says:
General trade, which was retarded by
unfavorable weather a week ago. has
recovered somewhat at Chattanooga,
Memphis, Birmingham. and New Or
leans. While the cold weather cut into
sale of spring goods. other relatively
favorable trade reports are from st.
Paul, Chicago, Minneapolis, and st.
Louis. At most centers jobbers report
business quiet or unchanged, with no
prospect of immediate Improvement
The restriction of the production of
cotton goods has not strengthened the
market or advanced prices yet. The
heavy increase in the sales of wool
100000 pounds-at Boston alone since
Jan. /. against 24,000,OO0 pounds last
year, is based largely on the expecta-
ton OF higher duty on wool One
Of the most unsatisfactory Industrial
features is the lack of demand for iron
and steel. prices for which in the CEN
trail western states have got below NOM
inal quotations.
Exports of Wheat and Flour.
Exports of wheat (lour included)
from 10th coasts of the United States
and from It. jean this week amount
to S,16S, 'tG bushels. as compared with
2,515,00G bushels last week, 2,907, 600
bushels in the week a year ago, 1920, eco
bUs-C.s in tie week two years ago, p
CISCO III zaC,5 three years ago. and as
contras.. "a with 1881 600 bushels i'm the
like week Of 1893 Exports OF Indian
corn this week show marked increase,
amounting to 3,G59960 bushels, as COM
pared with 3,G1l.OO0 bushels last week.
1929, Gee bushels in Tie week a year ago,
92I0C0 bushels in the week two years
ago, 1,424CC0 bushels three years ago,
and as ccntrasted with 4S7 600 bushels
in the like week Of 1893.
The check to the number of business
failures reported last week appears
again in the total for the present week
-305 throughout the United States, as
compared with 326 last week, 3SS in the
first week of February. 1896, 293 i'm the
like week of 1895. 1886 i'm the correspond
ing period Of 1894, as a contrast with 223
in the first week of February, 1898.
three months before the panic. There
are fifty-eight business failures re-
ported from the Dominion of Canada
this week, against fifty-six last week,
sixty in the week a year ago, fifty-one
two years ago, and fifty-six three years
ago.
The Week I'm Wall Street.
Bradstreet's financial reviews says:
In the main the current speculation is
of purely profession kind and re-
quires no description or comment In
spite of the dizziness and the disposi-
ton it naturally created on the part of
the regulars to act on the bear side
there were evidences from time to time
that the underlying tone of the market
is bullish, that stocks are in firm hands
and that liquidation is a matter Of the
past. Eurore took little or no part i'm
the proceedings, except in the case Of
the Northern Pacific. which was the
real feature of the week
1t should, however. be noted that
friends of the property bought stock
in this market with confidence based
on knowledge Of the circumstances in
question as well as the alliance for the
present situation u rates that has been
formed with the Great Northern rail-
way. One Of the fruits is seen in the
steps which ii is stated have been ia
ken by the two companies to obtain
representation in the management of
the Oregon Railway and Navigation.
with the object of preventing that prop |
erty from being used adversely to their
interests.
Advanced In Nortern Pacific.
On these factors the advance in
Northern Pacific preferred and com
mon, which began last week, continued.
attracting considerable outside buying
and carrying the quotations on last
Monday up to 1873 for the preferred
stock and 16as for the common. The |
of the deal between the |
syndicate and the Ger |
man interest was. as is usual in such |
cases, the signal for realizing sales and |
B recession which depressed the pre- |
TERED to 37h and common to IAN.
limitations, however, were forthcom- |
ing that other plans of considerable |
are In preparations by the |
Northern Pacific management and the |
stocks Of the road recovered somewhat |
Ind displayed very firm appearance.
Union Pacific was for time unfavor- |
ably affected by the deal concerning |
he Oregon Navigation. The stock re- |
gained ground, however, when 1t was
made known that this transaction was |
not intended to be in any way adverse |
20 its interests and business was sup |
Dlemented by limitations from WASH
ngton that interference by congress
with the carrying out of the present |
plan need not be longer
feared and no increase in the assess
nent on the stock will be made.