Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-01-13
oUN's COMMERCIAL REVIEW.
The New Year Opens with Frightening
Prospects-What the Failures of the Year
Show-The Business of the Latter Half
of the Year Shows Favorable Compare.
son with that of the Former Half.


Prospeces-what the Failures of the Year
Show-The Business of the Latter Half
of the Year Shows Favorable COmpari.
son with that of the Former Half.
New YORK, Jan. s.-R. G.. Dun &
CO.'S weekly review of trade says in its
Issue of to-day:
In failures 1897 was not only the best
year since 1892 but, on the whole, the
best ever definitely known. With 49,.
522 failures in number Ills per cent.
less than 1896 and S1s2, 5st.7T1 de-
faulted liabilities, $40 per cent. less
than in 1896, the years banking fail
ures counted for S2S 249, 100, and the
commercial failures were but 49,
351, with liabilities of S154, 332, OIL,
the average per failure. being
only Gil, $50, the lowest ever
known except in 1892. But even in
that year the failures during the last
half averaged liabilities of $40, All per
failure, while in the last half of 1897
the average was only S9,593. The re-
turns by branches of business show
that in Is out of 2S classes the failures
were lower than in any previous year
of which there is record, with es-
pecially large decrease in the
featuring and trading failures.
Moreover, the year showed remarka-
BILE decrease, as some other prosperous
years have shown increase, comparing
the second with the first half. The
new year began with disappointment
for spectators in stocks and grain,
which is not bad sign. Prices of
stocks have gained a little, after
yielding at first, and close IS cents per
share higher for railroads and SI.05
per share higher for trusts.
Wheat declined ~ cents, owing to
the termination of the corner at Chi
cago and western receipts were about
double last years with Atlantic ex-
ports 2,840.3lS bushels, -four included,
against 2, $50. 900 last year. A specula
tive estimate makes the quantity still
in farmers hands 40 per cent. of the
crop, which is quite possible, but the
consumption and exports in half the
year ought to take more than 40 per
cent. of the years supply.
Cotton was a disappointment to
many because it did not change at all
in spot price, although the accounts of
reduction in wages by New England
works warrant hope of larger con-
sumption.
Cotton consumption is a little en-
couraged by larger demand for goods
since the reduction in prices, and the
abstention. of buyers for months past
has probably been due in large meas
ure to expectation of that reduction.
The wooden and worsted mills are
both buying wool quite largely at
prices probably close to the best, for
reports which declared there were no
concessions month ago are now re-
joicing that recent raggedness in
prices has passed away. Behind all
the market reports there is the fact
that consumption of wool has, for
about five months been the largest
ever known, and the buying indicates,
as does the demand for such heavy
weight goods as has been opened, that
a satisfactory half year is expected.
Prices so far paid are said to be from
30 to 80 per cent. higher than a year
ago, with wool from so to 80 per cent.
higher, but the buying is thus far en-
couraged. The iron manufacture has
been further encouraged by unusual
business for the season, including a
large building contract in Chicago, a
sale of $4,000 tons of pig to one pipe
foundry at the east and contract for
two vessels of 1900 tons each at
Cramps yards and contracts for $500
tons hoop at New York and 500 for
Mexico.
Prices are generally unchanged,
| though eastern works have advanced
structural beams five cents to 1. Is.
Pig is unchanged, with fairly large
sales. Visible supplies of tin are 49,
$50 tons, against 80, 342 a year ago,
with 1877 cents quoted, and with ex
ports of 10, 305 tons of copper in De-
cember and 123, 900 tons for the year,
IL cents is now quoted for lake.
The coke output continues heavy
and the output of anthracite coal was
Al, 2O5, 900 tons in 1897, though the con.
sumption was about 100000 tons
smaller.
Failures for the week have been 322
in the United States against All last
year and in Canada 80 against 50 last
wear.