The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1897-01-21
1T TAXES TIME.
Dun = Co. Claim That Business II Grad
-. uauY improving. - -

Dun y 20. Claim That Business II Grind.
ualy Improving. 49,
New York. Jan. 16.-R. G. Dun & Co.
in their weekly review of trade saw:
1.-THE greatest growth and prosperity the
country had ever seen came suddenly IN
1879, after several months of dtsappuint.
ment because specie resumption had not
yet Drought the benefits expected; It takes
time for new confidence to reach through
easier money markets, large orders, re-
sumlng mills. expanding employment and
larger distribution, to the results which,
make stu greater and lasting gain possi-
pie. such gradual and steady Improvement
mas neen IN progress for more than two
months The output of pig iron has ga lined
A:6 per cent. since October L. The output
OF coke has increased SS.7 per cent since
octooer ]. Sales of wool have become
large. Money markets feel steady IN
crease In demand for commercial and man
u1acturing loans. Additional works hsve
gone INTO operation each week in January,
ana the working force is larger than at any
other time for six months. The gain may
pc ascribed to the deliberate Judgment OF
the ablest and most prudent men in busi-
ness.
are anxious to get early hold on the mar
ket are making for the moment lower
prices than they could afford to maintain
With the Increase in output of pig iron to
l59,720 tons weekly, against 1929 lsst
month, the price is shade lower at. the
cast and Chicago. but heavy purchases
already advance Bessemer q shade at
Pittsburgh.
Textile manufactures are not en-
couraged by the demand for goods, though
more print cloths were sold than for many
weeks. Lower prices are expected in goods,
and slow buying Is not unnatural since cot
ten has fallen 17.8 per cent from Septem-
ri a
goods 81 to 81 and brown goods to ~, 3
and per cent. Though wooden goods do
not improve, there have been purchases
by large mills which cover for two weeks
Of January u.11o,3oo pounds at the three
chief markets, against Il, 817 600 last year.
some large purchases of leather indicate
that some shoe manufacturers are se=in9
their way to more active work, and slim
ments from the east in January thus far
are 20 per cent. larger than last yecr
Hides at Chicago are az per cent lower.
"Clearing house exchanges for the month
thus far are less than per cent. below last
years, though still 1872 per. cent. smaller
than tho year 1892, the year Of greatest
prosperity. The railroad earnings and
tonnage for January. thus far are licht.
owing to western storms but December
returns cover $3S.5S6,912 ON roads in The
United States alone. only 2.3 per cent less
than last year. The Pennsylvania and
some other roads have commenced to tuy
rails, and several costly improvements
have been ordered, the Columbia bridge
clone calling for 1900 tons Of steel. and a
terminal Improvement for the Erie will
cost 81. 900. 900.
THE wheat market has varied but slight
~. closing one-fourth cent lower. Traders
begin to realize that enormous exports of
corn are taking the place of wheat in for
eign consumption. Cotton took a rise Of
an eighth on traders estimate, without
change in conditions
1.-THE money market has been disturbed
by combination Of large bankers not to
lend on call below 2 per cent, which in
vited all sorts of financial institutions to
take the market. caused payment of bank
loans for some millions, and left supplies
Of funds so heavy that time loans were
sharply marked down. More was done in
commercial paper, though offerings in
creased but moderately. Receipts from tho
Interior exceeded shipments by $500, G0o
Exports continue to exceed last years for
the week per cent. while imports fell 10
per cent. below last years.
Failures for the week have been 455 in
the United States, against 1856 la st year, and
Il In Canada. against 81 last year.