Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1898-02-05
TRADE ENEVERBETTER,
CLEARING HOUSE AND BANKRUPTCY
RECORDS PROVE 1T.
FEW FAILURES IN JANUARY.
CLEARING HOUSE PAYMENTS LARG-
Err THAN EVER BEFORE.
Exports of Cereals Continue Heavy
Special Activity in Iron and Steel
-DixtributiOn of Goods I'M
proving in Spite of
Bad Weather.
FEW FAILURES IN JANUARY.

New York, Feb. 4.--R. G. Dun & Co.'S
Weekly Review of Trade will say, in It's Is
sue tomorrow:
houses in January make u remarkable
showing, being much larger than in any
previous month, 36.3 per cent larger than
the same month last year, and II per cent
larger than in 1892. The failures in jan
uary were smaller than in any previous
year of which there is record. and were
probably smaller than In any other jan
uary since 1851. The statement by branches
of business given this week shows sur
prisinS gain in most departments of man
ufacture and trade. Meanwhile. the money
market is as confident as ever: gold does
not come from Europe in large amount
only because bankers find it worth while
to lend American money abroad, and the
commercial balances are heavily in favor
of the United States as heretofore.
perhaps the most striking feature of
the week has been the decline in wheat.
With exports of 3,09ial7 bushels. against
1.77O, SAG last year, flour included. from At
lantic ports. and 776.S4O from Pacific ports.
against Si4,343 bushels last year, the tenn
per of the market has been weaker. The
report of the agricultural department has
had some influence, although its figures
are not generally credited as reliable. The
wheat market has turned largely upon the
operation of Chicago speculator, but the
fact remains that the price depends large
ly upon foreign needs and upon the COM
parative scarcity of American supply. The
out-go of corn continues heavy, S.79S,7S6
bushels, against 400 for the same week
last year, and the excess over last year,
when exports were very much the great
est ever known, indicates a very heavy
foreign demand. The spot price of cotton
remains unchanged, but the fact that re-
ceipts continue larger than during the same
week of 1895. after the heaviest crop ever
known, checks speculative operation or
an advance"
BradStreetS tomorrow will say:
Severely cold weather, accompanied by
high winds and heavy snow, has been
feature exercising considerable influence
upon the movement and distribution of sta
pie goods this week. The Northern and
Eastern states appear to have felt tine
effects of the storm most severely. In spite
of this interruption of business, satisfac-
tory trade for the season is reported in
most lines, with special activity reported in
the iron and steel trades and kindred lines.
In the East the distribution of dry goods
and wool has been checked and the move
ment OF produce greatly tnterfered with,
but the tone Of the cotton goods situation
is. If anything. improved. In the Middle
states and in the Central West, the move
ment of iron into consumption Is still very
large but nervousness as to possible over
production affects that market. Steel is
slightly lower at the East, but firmly held
at Chicago, which also reports advances
in iron bars. wires and nails. Western mills
will not agree to deliver steel rails, billcts
or rods on new orders before July l.
Southern buyers are coming into St.
Louis more numerously than usual at this
date, and the distribution of dry goods,
boots and shoes and drugs is active. In the
Northwest better trade is reported and
cold weather has helped the distribution
of seasonable goods. At the South, trade is
reported improved at several important cen
ters. and the total of January business is
said to be above the average. Alaskan
business on the Pacific coast is still very
active, but export trade in cereals is small.
Rain Is needed in California, or crops will
be considerably shortened. Steadiness in
prices has been a feature Of the week, the
only decrease noted being in wheat, corn
and flour on a speculative reaction, and
in lead while the prices of oats. pork, beef,
and coffee are higher"