Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1899-02-10
BUSINESS Of JANUARY.
Volume During First Month of 1899
Goes Far Beyond All Pre-
cedent
A STUDY OF FAILURES FOR THE MONTH.
8radstreet's Says That a Quietins
Down of Speculative Interest IL
Noticeable in a Number of Markets
Without Impniring Strength OF
General Business situation.

New York, Feb. 6.-The weekly re-
view of trade as published by r. G. Dun
g. Co. says:
THE volume Of business during the
month of January has been far beyond all
precedent. Exchanges made through clear
Ing houses have been A per cent. larger
han last year and So per cent. larger than
in 1892, and while speculation in stocks In
New York materially increases the volume
of payments, 1t was larger outside this city
by 1873 per cent. than in 1892. 1t is per-
tinent to note that the remarkable expan-
sion In the aggregate OF business comes In
spite of a material decline in prices dur
ing the past seven years SO great that pay
ments OF $S2.00O.000 would cover about as
much business as payments of $lO0, 900, 900
in 1892. 1t Is not strange that European
exchanges are disturbed and alarmed, and
a rise in sterling, even when gold Is being
shipped this way, Is one of the interesting
features. 1t is commonly ascribed to re-
cent sales Of stocks on European account,
but 1t would take a million shares at ordt-
nary prices to cover one month 8 merchan-
disc balance. Europe is not buying enough
to cover its accommodating excess OF mer-
chandise exports over imports.
Failures for the week have been 224 In
the United States, against 1856 last year., and
rs In Canada, against SO last year. Failures
In January were smaller than In any pre-
ASAS SoSSPe - wv AAA NAS
1887, and the proportion of solvent pay
ments to clearing house exchanges 10
smaller than In any other month of which
records exist. In January they were but
S6 cents per $1,000 clearing house payments.
and the smallest in any previous month
had been about $l.0S per $1,000. The de-
faulted liabilities were 81, 721,S 1877, against
$l0,4o1,blS last year, a decrease of 26 per
cent, and IS per cent. smaller than in 1897,
81 per cent. smaller han in 1895, so per
cent. smaller than in 1896, and rs per
cent. smaller than in 1884. The manufac-
turing failures were the smallest, except
ing August, 1898. There were only seven
failures for 100000 or more, and the av-
erage of 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 largest
months Of the year in failures, the return
Is surprising as well as encouraging"
Bradstreet's Review.
Bradstreet's summary of the trade
situation follows:
IA quieting dow of speculative interest
is noticeable in a marked degree in a num-
Der Of markets this week, without, how
ever. bringing to light any important i'm
pairment of the underlying strength of the
general business situation. The outburst
Of last week in wheat and cotton, in fact,
must be regarded as furnishing a vent for
outside speculative interest, because these
staples did not suddenly gain In strength
from causes located in those trades, but the
activity was really a result of an overflow
of speculation from the stock market. The
feature of the iron trade this week is the
announcement of the selling of practically
the entire output of the Lake Superior
ore mines for. the. coming year. The