The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1898-01-08
DUN'S WEEKLY REVIEW.
THE NEW YEAR BRINGS A RADICAL
CHANGE IN TRADE.

More Than Half Million Mon, Idle a
Year Ago, Are Now Employed--.Iron In.
dustry Greatly Encouraged-.-Cotton
Halted by tho Question Of Wages.
r.. G. Dan t. Co.'s weekly review of
trade, Saturday, says:
Failures for tue year which closed
Friday night hate been smaller than in
any other year since 1892 in number,
smaller than in any year except in
1895, and In average liabilities per
failure smaller than in any other year
during the last % years, except four.
The aggregate Of all failures, COM
mercial and banking, was $l80,600,'
900, of which $25, 800, 900 was in bank
| ing. In 1850 commercial failures
the amount of liabilities Was $154, $780,.
! 900, of which 500, 900, 900 was in man.
ufacturing and $73, 100000 in trading,
with $l2, 100000 in brokerage and
other commercial lines. The average
of liabilities per failure was only $11,-
$50. and in 1892 only $11,o25, but only
three years in the past % were rivals,
1888, with $11, 1876; 1886, with $1l, 651,
and 1885, with $1l,078.
A new year opens with conditions
radically different from those which
prevailed year ago. Great financial
distrust existed then, but has passed
away. After q whole year Of entire
freedom from disturbance or alarm, in
which the country has paid heavy for
eign indebtedness, taken and paid
many millions for stocks sent abroad
and accumulated credits against
other countries represented by
a merchandise balance of more
than $320,000,000 in its favor for
the past five months, with deferred
exchanges for more than $40, 1000, 900
held by New York banks alone while
the great industries have been pushing
their way into foreign markets with
unprecedented schemes, the monetary
situation is no longer matter of anx.
iety. Moro than half million men
in 9 few States, according to official
reports, are employed now who were
idle a year ago, and the general ad.
vance in wages for those employed has
gone far to,lzpstorethe reteepre vail
ling before apaDie. The volume Of
business through clearing houses for
the week, 14.2 per cent. larger than in
1892, has for. the month been O.3 per
cent. larger than in that year, and in
many industries and branches of bust
ness the later months of this year have
surpassed all records.
The iron industry has been greatly
encouraged by increased demand du-
ring the past few weeks and while the
slight improvement in pig iron at
Pittsburg has been maintained, not
withstanding the greatest output ever
known, the new contracts for finished
products have been unusual for the
season. They include 10000 tons
of steel rails to one of Eastern mill,
1000 tons instructual work for i'm
provements at New York, alone, with
large operations at Chicago and other
cities and greatly increased demand
for manufacturing materials generally
and especially for sheets. Minor me.
tails have been rather weak, with tin at
1876 cents and copper at 1887 in spite
of large exports, while lead is quoted
at 3.72} cents and sae}ter at 1856.
The best Bessemer full weight tin
plates are selling at 3.05 against Ito
for foreign.
No change in prices of coke appears,
though the shipments were the largest
for any week this year.
The cotton industry is halted by the
question of wages, although general
reduction now seems probable. The
manufacturers have been buying large
ly Of materials for worsted goods and
their purchases have stimulated buying
by wool manufacturers, SO that tn,
wool markets are stronger though
without changes in quotations.
After the great excitement at Ohica
90, wheat still goes out of the countr,
az largely as before. Atlantic port
$3.50, 1888 bushels, -four included, agains
1,542, $40 last year and from Pacif
potts l,712,625 bushels In four week
the Atlantic exports, flour included
have been 15,060,047 bushels, agains
$500, 161 last year. Heavy Westerl
receipts are only rejecting temporar
conditions In the Chicago market. Blu
extraordinary exports of corn, IA, 404,
9O5 bushels against 9,A44,853 bushel
in tho four weeks last year, show ho,
sorely foreign markets are pushed b,
the increasing demand for bread stuffa
Wheat has declined &c with the Chicag
market and corn has meanwhile ad
vanced OF cent.
The cotton movement continues Re
markably heavy, and yet the stiff &C
vance last week is maintained. III
movement to date, although more tia
seven million bales have come into sigh
scarcely supports the largest ourrer
estimates,