The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-07-13
ouN's COMMERCIAL REVIEW

-Ihe ADVANCE In Iron COnuinues With
Wool Stronger and Cotton Goods still
advancing.
New YORK, July 6.-R. G.. Dun & &C.
in their weekly review of trade, issued
to-day, say:
There were 6,657 commercial failures
in the first half of 1895, against 1859
in the first half of 1894, ard 6,4U in
the first half of 1898. These CONNER
ciaI failures involved liabilities of $751;
s39, 944 this year, against S1el, 739, 3O8
Last year; and S16s, s64, 444 in 1893.
Comparisons By quarters for twenty
years show that the average of liabili-
ties per failure, S14,27O for the past
quarter against an average of $685. 43
for the second quarter in previous pros
perous years, was S3i.3 SO for every firm
in business against S27.53 for the
second quarter of previous prosperous
years and hat the ratio of defaults, to
payments through clearinghouse was
S3.04 per 81 1000 against S2.34 for the
second quarter of previous prosperous
years. In times Of disaster, SSH per
quarter has been the average of de-
faulted liabilities per firm in business,
and 1916 per $1,000 solvent payments
Manufacturing failures for the half
year were 1,254 against 1901 last year,
and liabilities $40, sol -949 against SAL
376, 1O2 last yea" and about $50, 900, 600
in the first half of 1892.
Trading failures for the half year
were 5,335, against 5,402 last year and
liabilities $40, 6B9, $50 against So, 345, 97S
last year, and about S6l, 900, 900 in 1892.
Manufacturing failures were 6 of 1
per cent. of all manufacturing con-
Germs, against AZ last year, with liza
bilities averaging S13 for every con-
Germ, against SLIT last year.
Trading failures were Ga of / per
cent. of all firms in business. against
"a last year, with liabilities averaging
only S54 for every such concern in
business, against S62 last year.
Banking failures, not included in
above statements, were 63, with liabili-
ties of S16,653, go, against SO last year,
with liabilities of Is, 0S4, 46l.
The details show a decrease in every
class of failures in the second, COM
pared with the first quarter of 1895,
both in number and magnitude, the
defaulting liabilities averaging S34
against $40 for every firm in business,
and 50. 04 against 81. o3 for every 1000
solvent payments.
The midsummer reports from all
commercial centers, to which more
| space is given than usual, are of espe-
cial interest, covering the questions
on which the future business depends.
They indicate distinctly better crop
prospects than other official or COM
mercial accounts. a marked increase in
retail distribution of products, an act
i've demand for goods, and a general
enlargement of the working force,
with some advance in the wages of
more than half a million hands. At
| the same time they show that the
rapid advance in prices has somewhat
checked buying of a few classes of pro-
ducts in every part of the country, and
the outlook for fall trade is considered
: bright.
Nothing disturbs the money market.
| The government begins the new fiscal
year with more than the required gold
reserve, and the disbursement of
nearly $50, 900, 900 by corporations in
interest and dividends will stimulate
business in many branches.
The latest agreement of railroad
presidents is treated at Chicago as
meaning more than usual and ship
ments have increased, amounting for
-four weeks to EOS, SIT tons east-bound,
against Isl, 300 last year and 20s, 11S in
1898.
Earnings of railroads in June, thus
far reported, amount to S23, $50, $40 in
the United States and are 6.S per cent.
larger than last year, but 81 per cent.
less than in 1898.
The advance in iron continues, and
the Thomas company has raised an
thracite No. 1 another 81 per ton.
| Comparison Of prices for various iron
products shows an average ranging
from 72!.2 per cent. since February for
wire nails to II per cent. for anthra-
cite pig and in all kinds averaging %
per cent. The demand and rise have
come so suddenly that, even while the
first order for shipments of steel bill
lets to Europe, given some time ago,
| when prices We're low, is being an
nounced. the prices here have adj
vanced from SIT in April to ST.. 25, Or
about 81 per cent.
Wool is stronger both here and
abroad, the London sales opening
July . at higher prices, and the aver
age for 1914 qualities of domestic wool,
quoted by Coat & Bros, has risen
nearly half a CEN since June 90.
Cotton goods also continue to adj
vance and the mills are generally well
employed.
Speculation has advanced cotton
three-sixteenths, though the crop news
is favorable, but has depressed wheat
2 cents in spite of estimates that the
yield has been materially reduced
since June 1. Every year the crop re-
ports are having less influence, and
the time is ripe for the radical change
in government estimates which the
department proposed. The year
closes with more than $500, 900 bales
American cotton available here and
abroad and with at least $4,000, 900
bushels surplus wheat, although some
make the quantity 80, 1000, 900 bushels
larger. The crop of oats is certain to
be large, and the prospect for corn has
greatly improved within the past few