Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-02-04
DUN'S REVIEW OF TRADE.


Co.'s weekly review of trade will say
tomorrow:
Failures in January were smaller than in
any previous month except August, 1898,
and July, 1897. ard the proportion of SOL
vent payments to clearing house ex-
changes is smaller than in any other
month of which records exist. In Janu-
airy they were but Sc cents per $1,Gco
clearing house payments. and the small
est in any previous month had about $1CS
per $1,000. The defaulted liabilities were
$1721 S37, against So, 1,513 last year, a de-
crease of &c per cent, and IS per cent
smaller than in 1897, 81 smaller than in
1896, 90 per cent. smaller than in 1885, and
&c per cent. smaller than in 1894 The ltran-
ufacturing failures were the smallest, ex-
cepting August, 1898. There were only
seven failures for $1G0 000 or more and the
average liabilities per failure is smaller
| than in January OF any other year, and
| the small failures are not only fewer in
number, but smaller in average liabilities
| than in any previous year. Considering
| that January is usually one of the larg-
| est months of the year in failures the re-
| turn is surprising as well as encouraging
! The volume of business in January has
| been far beyond all precedent. Ex-
| changes through clearing houses have
been A per cent larger than last year
! and 59.7 per cent. larger than in 1892, and
/ while speculation in stocks at New York
| naturally increases the volume of pay
ments, it was larger outside this city by
33.3 per cent. than in 1852. 1t is pertinent
to note that the remarkable expansion in
| the aggregate of business payments
| comes in spite of a material decline in
| prices during the past seven years so
great that payments of So CO. coo would
| cover about as much business as pay
ments of $1O0,c00,o90 in 1892. 1t is not
| strange that European exchanges are
| disturbed and alarmed and a rise in ster-
| ling even when gold is being shipped this
| way, is one of the interesting features. 1t
| IS commonly ascribed to recent sales of
| stocks on European account, but 1t would
! take a million shares at ordinary prices
! to cover one months merchandise bal
ance. Europe is not buying enough to
| cover its accommodating excess of merchan-
disc exports over imports.
| The most remarkable feature Of the
week has been the decline of five cents in
| wheat, with only one half cent in corn
and only sixteenth in cotton. The gov
| eminent estimate of the wheat crop, co.
| 0Ct000 bushels. has more influence than
any other from that source for number
of years. because it is recognized as the
result of great efforts to get at the truth
and is THEREFORE considered about the low
! est estimate admissible. With ordinary
| consumption, and present exports of 150,-
10000 bushels from the crop of 1895 -four
| included there viii be less than i04090 900
| bushels for replenshment of stocks for
| farmers holding and for exports in the
| next five months ard the exports Of A
1 90 nc bushels -four included, from Allan
| tic ports against 3 094, 5t7 last year and l.
I 4S5,6A from Pacific ports against 77e, so
/ last year, besides 800. so from Duluth and
| Portland, Me, shows a stress of foreign
| demand which may well excuse some
recovery in prices.
/ very strong market for cotton gods
has prevailed and prevents raw cotton
! from declining. The advance in goods
| has been unusual and has been sustained
| by heavy buying, especially of print
| cloths and kindred products. The pros
| pect is that the outgo viii place dealers
! and manufacturers in stronger position
! than they have held for years. with
] smaller stocks Of goods unsold. A better
| tone appears in the wolen goods market
! also with some important grades which
| were opened at a great reduction in prices
| recently advanced, which has stimulated
| the demand for all grades.
Sales Of wool have been fairly large 90, =
| 752, go pounds for the next year thus far
| against C. ~. go last year 5o.1113J) in 1Ss7
/ and Is, 49,. SO in Ke2 Philadelphia has
made considerable sales TO eastern mills
| and to others starting after long idleness.
| The iron industry is advancing prices
| of products rather than OF materials. Pig
| iron has remained without change this
| week, anticipating that six or seven fur
naces Will be put into blast as soon az
! possible. The demand Is strong, but not
| apparently urgent at the chief markets.
Eastern bars and plates have advanced.
with very heavy demand. and cut nails
/ have been hoisted by the association Of
makers. The rush or orders for the flu
| ture does not cease and the works are
| generally covered for months ahead with
orders for SHIPS. street cars and for ex-
port In the minor metals the specula-
! tive fever at London has caused consld-