The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1898-02-05
WEEKLY REVIEW OF TRADE
FAILURES FOR JANUARY MAKE IN
ENCOURAGING RECORD.

l
| ENCOURAGING RECORD.
Smaller Than in Any Previous Year of
Which There is Record-Perhaps the
Most Striking Feature of the Last Week
is the Decline In Wheat-Better Demand
for Cotton Goods.
| New York, Feb. Ar. G. Dun & Co.'s
weekly review of trade tomorrow will
say: Actual payments through clear
ing houses in January made remark
able showing. being much larger than
in any previous month, 1868 per cent.
larger than in the same month last
year and II per cent. larger than in
1892. The failures in January were
smaller than in any previous year of
which there is record, and were proba-
bly, smaller than in any other January
since 1881. The statement by branches
of business given this week shows a
surprising gain in most departments of
manufacture and trade. No failures
| dppGdT III luS WOUlSH IildUuldCluIty ctllo
in several branches only an insigniti-
cant aggregate compared with the fail
ures of previous years.
Perhaps the most striking feature of
the week has been the decline in wheat.
With exports of 3,O94,577 bushels,
against 1,770,546 last year, flour includ-
led, from Atlantic ports. and 776S4O
bushels from Pacific ports, against
s44,3 43 bushels last year, the temper of
the market has been weaker. The re-
lport of the agricultural department
has had some influence, although the
Figures are not generally credited as
reliable. During the past week prices
have declined eight cents, although
there has been no corresponding de-
lcrease in foreign or domestic demand.
Corn has fallen only five-eighths of a
cent for spot, and there has been no
important change in options. The
wheat market has turned largely upon
the operations of Chicago Spectator,
but the fact remains that the price de-
pendS largely upon foreign needs and
upon the comparative scarcity of the
American supply.
The outgo of corn continues heavy,
8, 79S,7S6 bushels, against 2,343,50O for
the same week last year, and the ex-
cess over last year, when exports were
much the greatest ever known, indi-
Gates a very heavy foreign demand.
The spot price of cotton remains I'M
changed, but the fact that receipts
continue larger than during the same
week of 1895, after the heaviest crop
ever known, checks speculative opera
tons for an advance.
The iron and steel manufacture is
steadily gaining in consumption of pig
iron, although the production of the
material is still in excess of immediate
demands, but not enough to cause a
decline in prices at Pittsburg or Chica-
go. The demand for finished products
has been very heavy. For plates the
demand from tin-plate works has been
very active. The prospect of com
| bination of wire manufacturers has
stimulated the demand and raised the
price Of wire rods. Tin is quiet and
steady at 1885 cents, with a visible
; supply February / of 31,120 tons,
against 1882 a year ago. Exports of
! copper in January were about 10,225
) TONS against 9,066 tons last year, and
the price is held at eleven cents for
lake. No change appears in spelter or
tin plates, but lead Is weaker at 3.55
cents.
| The shipments of boots and shoes
from the east show increasing sales,
exceeding those of every year except
the last and 1895, although the returns
are possibly incomplete because of the
storm. Buyers are still cautious, but
paying small advance on some grades
of goods. There are many orders for
women's shoes, and from the south
much larger than last year, while for
brogans some manufacturers have ex-
tensive fall contracts. In women's
black shoes the largest manufacturers
have a better demand than ever be-
fore Buyers of leather run beyond
current receipts in hemIock sole, and
are active in oak, but are hesitating in
union leather and doing only about as
much as usual in wax and kip. Grain
and satin are sold largely ahead. Hides
at Chicago are strong and about half
the grades are somewhat advanced
while others are tending upward.
There is better demand for cotton
goods, since the general stoppage of
works at the east, but there is no in
dication as yet Of material gain as re-
spects unsold stocks on hand In
wooden goods the demand is altogether
more satisfactory, an advance of about
20 per cent, being paid on most grades
of the finer woolens and worsteds, and
nearly all the mills are active. The
sales OF wool at the three chief mar
kets were 6,361, 400 pounds. of which g,
973, 900 were domestic. against 1869 zoe
last year, of which S,493, 400 were do
nestle.
Failures for the week were 1856 in the
United States, against 311 last year
: and thirty-nine in Canada, against six
: ty-three last year.
c,r~1y ,r.>r rrvI~r~ -, $685.,