The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-01-08
THE STATE OF TRADE.


of ADb.
r. g. Dun d Co.'S Review.
NEW YORK. Jan 7.-R. e. Dun x Co.'S
"sehss ,reNaeW OF trade VIII say Tomorrow
n i@ls4res 2sss was not only the best year
ss.sss, -. pug On the Whole the osst ever
-. .s-.iA.axt ltss than us per cent less than
isg'. and sls-.ssI.I1 defaaltesi liabilities S4a
per cent less than In fsssS the years bank
ing failures counted for 81 als.aa, and the
coLiisifeFcaat fSasIrsS were but tz.Aal, With
liabilities Of si54 ~ 09i. the average per
ialtIfe being only s1lss. the lowest ever
year the failures during tire last half aver
$50 80, tas Per failure, wniis in the last
nSH OF lS1 the average was only @5a2.
Ihe returns by branches OF business show
Inal II u out 81 - classes. the failures
were lower than in any previous year OF
Wascn there Il record, with an especially
large decrease III the great number Of IN
ures
The new year began with DISAPPOINTMENT
for spectators In stocks and grain whirn
IS not bad sign. Prices OF stocks have
gained little. Wheat declined lac. ow-
ing TO the termination of the corner at Chi
doa2.e iast years, with Atlantic exports
-slsals bushels. A speculative estimate
make. N ne quantity still In farmers, bands
~ per cent OF the crop. which is quite pos
s.b.e. but consumption and exports in half
the year ought 10 take more than 40 per
GENT Ger 81 o. me years supply. Exports Of corn
=.
though Western receipts ara unusually
large, and the price fell but Sc
lotion manufacture is little encour-
aged by larger demand for goods siaCe the
reduction in prices But with the GER
tainty that print cloth works are 10 con-
unae. prices have further declined TO 2L2c.
buying wool quite largely at prices prob
ably close to the best for reports which
declared there We're no concessions a
month ago are now rejoicing that the re-
cent Faggedness IN prices has passed away.
Behind all the market reports there IS the
TACT that consumption OF wool mas for
known. and the buying indicates as does
the demand for such heavy weight goods
as has been opened, that a satisfactory
are said to be from - TO 80 per cent higher
than year ago. with wool from 81 TO 30
per cent higher, but the buying is thus far
encouraged by unusual business tor the
season.
Iron manufacture IS encouraged by un-
usual business for the season. including
a large building contract made and 9th
ers for bridges pending at Chicago, a
sale OF $1,000 tons pig 70 one pipe found
~ at the East and contracts for two YES
seis OF 900 tons each at Cramps yards
and contracts for $500 tons of hoop at
New York, the 500 for Mexico. Prices
are generally unchanged. though eastern
works have advanced structural beams
large sales.
The visible supply of tin is %. s55 tons.
against - Si2 a year ago, with lac quot
ed With exports Of 1895 tons of cop
per in December and 1900 tons for the
year, lie is now quoted for lake.
Failures for the week have been 322 I'm
the United States. against AL last year,
and IN Canada =, against 81 last year.
Bradstreets Review.
Bradstreets tomorrow will say:
Inc year opens with tone Of quiet
confidence prevailing in all branches of
business, and activity in the iron trade,
a resumption of work by many thous-
ands of industrial employees in the west
ern glass industry, a largely reduced vol
ume of business failures compared
WIN corresponding periods IN preceding
years and general outlook certainly not
inferior to any previous year at this
time.
Distributive trade has naturally been
rather slow, pending stock taking and
the return OF statesmen 10 the field. In
dustrial activity is a special feature, I'M
connned TO any one section, but specially
noticeable In the west. Resumption OF
work after the holidays has been gen.
orally encouraging In that section. Au-
tumn weather in the northwest checks
distribution. but collections are reported
good. Sales of southern iron are large.
Louisiana sugar crop returns have been
very satisfactory.
was gathered before the late freeze. aud
cotton Is steady with a good export de-
mand. Wool has opened unactiveiy in
for cotton goods have stimulated some de-
mand. Naturally enough there was
slight gain in the number of failures re-
ported this week over last, the total ag-
gregating 1893 as against 29I last week.
but heavy falling OFF from 1897. when
the total was ass. The total In this week
of 1896 was i46; in 1896, 4o5. and in 1884,
4A. thus showing a falling off from this
week in recent preceding years of from
one-Quarter to one-third.
Bank failures in 1897 followed the gen
eral tendency OF business mortality in all
other lines of business. The reputation
of the banking community for conserya-
tism. however. Is borne out by the rela-
lively heavier falling off in the number OF
failures and the reduced volume of liza
bilities of banks and trust companies. as
compared with preceding years.
The total number Of failures of national.
state savings and private banks and loan
and trust companies in 1897 was los. a little
more than half those of 1886. and less than
one-fifth those of the panic year. 1855.
Liabilities also show q heavy falling off.
being ~ per cent. smaller than in 1886, and
80 per cent. smaller than 1893.
The number of liabilities, however. were
slightly larger than 1874. The per cent. as
smallest reported since Bradstreet's record
of banks was begun.
There were Is business failures IN the Do
nlinion OF Canada this week against ~ last
week. and Is in this week year ago.
The holidays have excised the export
ports from the United States and Canada
for the first week in January amount To
3,isl .5ss bushels, against {. a9S o09 bushels
hast week s.9SI0Q0 bushels in this week a
year ago and Sf7l GO bushels in the CORE
spending week in 1895. Corn exports show
A sensible din1inution. amounting 10 i.l~6-
90 bushels last week, $4,000 bushels in
this week a year ago, and 262s,'s1 bushels
i'm the corresponding week Of 1896
Bradstreet's Financial Review.
Bradstreet's financial review tomorrow
viii say:
Although dull and somewhat reactionary
conditions ruled at the beginning of the
week, the last three days have brought
with them Il display of speculative activ-
lily and strength in the market Fne earl-
er hesitancy vas apparently due to disap-
pontment on the part Of the traders who
had bought stocks on the theory that there
would be pronounced January rise be-
cause the public did rot come into the
market at the very commencement of the
new business year. The small profession
ais consequently liqudated long holdings
TO a considerable extent on Monday and
Tuesday. ana put out consideTa bic lines Of
short sales, hoping that the decline would
exterd further The leading factors In
speculation seem 10 have contributed 10
this result and their brokers were for a
time considerable sellers i'm the market
80.