Morris tribune., 1895-01-02
TRADE AND FINANCE.
Points of Interest in r. G. Dun q Co.'s
Weekly Review.
New York, Dec SIR G. Dun 4

New YORK, Dec SIR G. Dun &
Co. IS weekly review OF trade says:
Commercial failures for 1904 already re-
ported number 14.s92, against 1922 last year.
with liabilities of S163 239 404 against $346 $50
last year. Next week the final report for 1894 will
probably include about 400 more failures, with
liabilities of about $4,000,000. From these &C
counts, banks and bankers, financial and trans
porting companies are excluded Manufacture
ing failures already number 2,756, against S,4sS
last year, but liabilities are only 449l ,2S7
against S1769S2, 091 last year. The trading
failures already number 1870, against 1i,5l2
last year, but liabilities are only SS7, ,057,
against $3.50, 062.3S3 last year. The statement
by sec lions shows o decrease OF about Two
thirds in defaulted liabilities In the middle
and central northern states, one-half in the
west and southwest and a third in other sec
tionS.
Wages actually paid In November are COM
pared to-day with working hours in establish
ments throughout the country, and In about
fifty branches of industry, the average being
1854 hours per hand this year, 1884 last year.
and 2432 in 1892. The wages paid per hour
were LIZ per cent. less than last year, and $50
per cent less than in 1892. As the hands en-
ployed in establishments reporting were
853 per cent. more than last year,
but IL. 02 per cent less than in 1892, the total
wages paid in these establishments in Mo-
vember was Is 33 per cent more than in Mo-
vember. 1893, but II ~ per cent. less than in
November, 1892. Thus the decrease in pur-
chasing power of the working force is found to
be due mainly to decrease in number of hands
and hours OF work, rather than to reduction of
wages paid per hour.
Holiday trade has scarcely met expecta-
tions. Purchases have been numerous, but
smaller than usual in amount and more con-
fined to needful articles, thus anticipating or
binary trade The volume of business
represented by clearing house exchanges
is ~ per cent. larger than last year.
but 2I8' per cent. less than the
Der has been IL per cent. more than last year,
but 252 less than the year before In spite Of
some sensational losses on western roads, the
earnings of all railroads reporting for Deem
Der are 80 per cent. greater than last year. and
but 1l.6 per cent less than in 1892.
Wheat has declined one-half cent during
the week. Exports in December from both
coasts have been little larger than last year,
but for the crop year about 100000 bushels
smaller. The western estimate, usually re-
garded with most confidence, is, that
the crop will reach 515, 100000 bushels,
which will leave for export, with stocks
brought over more than 100000 900 bushels, OF
which only 5000 900 bushels have gone abroad.
Corn has declined three-fourths of a cent,
with good receipts The price of cotton has
not changed, but the fact that receipts from
plantations this month have been greater than
in 1891, while stocks in sight here and abroad
are larger than at the same date that year, is
an obstacle to any rise.
Money is still coming to this city in steady
stream and exports of gold for the week are
expected to be about S2.5O0,OO0. The dissolu-
Jion of the bond syndicate, on the ground that
the pending currency bill has destroyed the
market for bonds, is the most Important event
in financial circles, and is liable to have re-
suits of some consequence. For commercial
loans the demand has slightly increased,
though only as might be expected at this sea-