The Oskaloosa herald., 1900-01-04
THE STATLOF TRADE
Leading Commercial Agencies Re-
view the Situation.

| New York, Dec. 29-Bradstreet's says:
Holiday quiet and stock taking impart an
| appearance of dullness to general distrib-
utive trade, broken, however, by fair ac-
| tivity in recorder business to fill up stocks
| depleted by the heaviest holiday trade that
has ever been experienced. Anticipation
| of spring trade wants has given a more
than ordinary active appearance to BUSH
| ness in dry goods at New York, while in
Industrial lines the efforts of manufactur-
ers TO keep up with filled order books are
resulting in unusually active operations
Following the furry in money, stocks and
in some lines of speculative commodities.
noted last week, has come, as was expect
ed, more cheerful tone, and a firming up
of quotations is noted in such staples as
cotton, which was affected by last weeks
money developments, and also in hog
products, coffee, copper, tin and lead.
In iron and steel seasonable quiet as re-
CARDS new business is observable, but un-
abated activity on earlier booked orders
Is reported. In some cases no shutdown
was made for the holidays by mills and
furnaces. A production little below 49,
100000 tons of pig iron is anticipated, with
all other branches of the same trades rep
resenting similarly heavily increased out
puts, and prices, despite the great advance
OF the year and doubtless rejecting the
large orders ahead, exceptionally strong"
Dun's Report.
r. G. Dun & Co. in their weekly review
of trade say: mo correct report of fall
ures in 1899 can be made until the year has
closed. collapse of speculation in cop
per stocks has swelled the aggregate at
Boston alone over $4,000 900 within few
days, and might yet add to the record.
The failures thus far reported are fewer
IN number than in any year since 1888 and
smaller in amount of commercial liabilities
than in any year since 1881. The aggre-
gate of defaulted liabilities is $120, 600,
but nearly two-thirds of the banking la
bilities were added within &c few Gays, the
aggregate reaching about $50, 900. The
commercial liabilities have been about
$S92eO,OOO though exact returns for a
few recent failures are not yet OBJ
tainable. No other years except 1881
with defaulted liabilities of ISL, 155, 932,
and 1880, with $65, 752 600, have failures been
as small since the agency commenced quar-
teriy returns in 1875. The average of habil-
tiles per failure is less than 50, 500 the small
est in any year of the rs, gratifying evil
dence that commercial liabilities are fur
Their removed than usual from the point of
danger.
1.-THE week has been exciting only at Bos-
ton, where the failures growing out of
speculation and the efforts to reestab-
lish banks and firms suspended have not
given the week holiday character. Yet
general business is thoroughly safe and
prosperous, and no important firms have
failed save some which were individually
connected with concerns involved in specu-
lation. The speculative troubles come be-
cause the volume of legitimate business
and the unprecedented distribution of
profits, interest and dividends made 1t no
longer possible to carry some stocks on
borrowed money. Prosperity itself placed
a check on speculative ventures.
1.-The industries are closing the most ex-
traordinary year of their history Long
established branches have undergone a
veritable reconstruction, vastly increasing
their capacity, while new industries which
scarcely existed a year or two ago have
enlisted vast capital, altered modes of
business and production in almost every
direction and improved conditions for the
future almost beyond calculation. Elec-
trical developments in light heat and
power, in making cataract work perform
ing wonders in production of materials
and providing transportation all over the
land, deserve especial attention.
For such reconstruction the increase in
demand for iron and steel products is the
great feature of the year. With 4I5,73s
tons unsold and 243,516 produced weekly
January l, hindered by severe weather so
that the output March 1 dropped 1900
tons, but expanding In every month aft
erwards, the industry is now producing
about 100000 tons weekly, and unsold stocks
are reduced to 1898 tons, and yet or ars
untitled will require six to nine months
work from most of the establishments
Prices have not changed the past week,
though demand for some products i'm
proved little.
Failures for the week have been POI in
the United States, against 252 last year,
and 20 in Canada, against % last year"