Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1897-01-14
GUNS COMMERCIAL REVIEW.

Been Deprived by Failure of the Power
for Harm-A Brighter Outlook.
New YORK, Jan. 9.-R. G. Dun & Co
say to-day in their weekly review @,
trade:
The year 1897 begins with one clear
advantage--the past year has swept
out of the way great number of un
sound concerns which in any time o.
activity would have been dangerous
to business. OF the 1886 commercial
and banking failures in 1896, with liza
bilities of S27, 276, SIS, TAO, large share
represented gripping losses in pre-
vious years, or the violence of specu'
lative storms IN 1895 or the first hall
of 1896, while thousands more re-
suited from the fury of the political
tornado last fall. Banking failures
amounting to $50, 1855 15 during the
year averaged $3.50, 156 each, and were
las per cent. larger than in 1895.
Commercial failures amounted to
ing been added by the last day of the
year, but the average of liabilities
S14, 1922, was smaller than in some
years of great prosperity. The fail
nres of brokerage and other COM
mercial concerns averaged SIS, AS
each, increasing 1sS per cent over
1895, while manufacturing failures
averaged $2S, sos each, an increase of "a
per cent, and trading failures in
creased per cent. and averaged only
SO, coo each.
While banking failures have not
ceased at the west, apprehension about
them has almost wholly subsidized and
no serious influence upon general
trade is now expected. Many sound
concerns were doH btless caught by
the epidemic, but practically all the
important failures are traced to dis
regard of law and of banking sense at
periods somewhat distant It is felt
at the west that all business will BE
sounder after its purging, and the re-
turn of money to New York has ex-
ceeded shipments to interior by So, oO0,-
600 for the week. Heavy disburse-
ments by the treasury and by great
corporations make money abundant
and banks and savings banks are seek
ing good paper, taking some formerly
sold at Chicago. Foreign exchange
has risen a trifle, as large bills are
about to mature. Merchandise ex-
ports were IL per cent. over last year,
while imports were 81 per cent. less
than for the same week.
Speculative markets have been dull.
After rising about so cents per share,
and So for trusts, stocks were checked
by revival of talk about Cuba at Wash
ington, and by reduction of the divi-
dend on the Delaware 81 Hudson.
Earnings reported for December
amount to S31, 121, 905 in the United
States alone, "a per cent. less than in
1895. The railway receiverships noted
by the Railway Age cover $2,s21, 509,-
900 stocks and bonds in the years 1898
90, and So. 094, 535, 900 in the previous
nine years; foreclosure sales of the
past three years cover 81. 1881, 157, 900,
against 81, 673, O44, 900 in the previous
ten years.
Wheat rose to 90 cents on Monday,
but has declined again to SO. i cents
with western receipts a million
bushels smaller than last year, while
Atlantic exports, flour included, were
2 ,037, 900 bushels, against 2,337, 936 last
year. The trade accounts indicate a
great quantity in farmers hands,
enough to permit more than 100, 600, 900
to be exported in the remaining six
months.
Cotton started up a shade, but re-
ceipts from plantations are still too
large for low estimates, and the con-
dition of the cotton mills foreshadows
rather than large con-
SUMPTION. The market for goods is
extremely slow, as many infer that
the unprecedented stocks of print
II 70 rsR Of
other goods. The logic is bad, but in
many branches the mills have doubt
less manufactured goods, anticipating
a demand which has not come. 1t is
now proposed to relieve the market
by selling quantities of print cloths
a broad. or by locking up 1900, 900
pieces until the market improves. The
only changes in quotations is one
quarter cent reduction in some
bleached goods.
Stocks of wool January l, not owned
by manufacturers or farmers, are
I23, 55s, $50 pounds domestic and e.. |
s44, 900 foreign, according to the Com
Bulletin, and the official esti.
mate of production shows a decrease
of 20 per cent. in three years, but sales |
are only 1855, 900, against 6,694, SOC !
in 1895. Prices are q shade lower, |
and quotations by Coates Bros. are
showing a decline in six |
years of 10 cents in prices of northern
states wool, with relatively as great |
decline in western and territory wool, |
which goes far to explain the large re-
ported stocks, and quantities held by |
are probably larger
than is commonly supposed. In
WOODEN goods the only change is a re.
1uction of III cents in clay worsteds
and mixtures, and orders are not more |
frequent
Enormous purchases of bi1lets came |
with a rush, most of the large con-
Germs contracting for all they required |
for months, and even a year to come,
and some of the largest contracts ere
said to have been at SIS, or ever less.
but there is as yet no better demand |
Tor structural work; bars are weak, |
1ails have declined TO 81 40 for wire,
81. 30 for cut, and little is doing in
-sils, as possible buyers think SIS is
100 high, with billets at SIS per ton.
great trade is expected
when relative prices become settled.