The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-07-06
DUN's REVIEW OF TRADE.

NEW YORK, n. y, July 5.-R. G. Dun & Co.,
in their weekly review of trade tomorrow will
say: There were 1857 commercial failures in the
first half of 1885, against 1899 in the first half of
1894 and 6401 in the first half of 1898. These
commercial failures involved liabilities of SsS $685.
944 this year against S101 ,739 3o6 last year and
Si6S.S64.444 in 1898. Comparison by quarters for
twenty years show that the average of liabilities
per failure-$14,27O for the past quarter against
an average of S13.343 for the second quarter in
previous prosperous years-was s34 SO for every
firm in business, against S27 73 for the second
quarter OF previous prosperous years, and that the
ratio of defaults to payments through clearing
houses was SO o. per $1,000, against SO "a for the
second quarter of previous prosperous years
In times of disaster $S7 IL per quarter has been
the of defaulted liabilities per firm in bust
ness, and 81 36 perS1000 solvent payments. Manu-
against 1910 last year, and liabilities $40 301 $40
against SAL 1916 102 last year and about $50 600 600
in the first half of 1892. Trading failures for the
half wear were 1888, against 54O2 last year, and
liabilities S45 ,669S3O, against S52,345,97s last
year and about $61 100000 in 1892. Manufactur-
ing failures were in number g of per cent of all
manufacturing concerns, against Az last year with
liabilities averaging $113f for every concern, against
SLY last year
firms doing business, against "a last year, with liza
bilities averaging only $54 for every such concern
in business, against $62 last year. Banking fail
ures, not included in above statements, were SO,
with liabilities of $16.653,276 against SO last year
with liabilities Of 13,lS446l. The details show
decrease in every class of failures in the second
compared with the first quarter of 1895, both in
number and magnitude, the defaulting Liabilities
averaging S34 against $40 for every firm in bust
ness and So o. against 81 03 for every $1,000 SOL
vent payments.
The midsummer reports from all commercial
centers, TO which more space is given than usual,
are of special interest, covering the questions on
which the future business depends. They indi-
cate distinctly better crop prospects than any
other official or commercial accounts, a marked
increase in retail distributing of products, an
active demand for goods and 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 few
classes of products. In every part of the country
the outlook for fall trade is considered bright.
Nothing disturbs the money market. The Gov
eminent begins the new fiscal year with more
than the required gold reserve, and the disburse-
meut of nearly $50 600 by corporations in in
terests and dividends will stimulate business in
many branches. The latest agreement OF railroad
presidents is treated at Chicago as meaning more
than usual and shipments have increased, amount
ing for four weeks to 20S,S77 tons eastbound
against 1877, 800 last year and POSI- in 1893.
Earnings of railroads in June thus far reported
amount to S23oS0,s70 in the United States, and
are g. per cent larger than last year but 1877 per
cent less than in 1892.
The advance in iron continues and the Thomas
Company has raised anthracite No. ] another
dollar per ton Comparison of prices for various
iron products shows an advance ranging from ~ z
per cent since February for wire nails, to IL per
cent for anthracite pig. and in all kinds averaging
| % per cent. The demand and rise have come 40
suddenly that even while the first order for ship
| nent of steel billets to Europe, given some time
ago. when prices were low. is being announced. the
"
about 81 per cent
Wool is stronger, both here and abroad, the Lon
don sales opening July at higher prices and the
average for 104 qualities of domestic wool quoted
by Coates Bros. has risen nearly Zee since June
20. Sales have been enormous. though largely
speculative but exceeding those of May and June
in any previous year, being 26,S97 SIS domestic
and 81 4S7,l0 foreign, against "a 232, 400 domes-
tic and 19,675,150 foreign in 1892 There is a
growing recorder demand for heavyweight wool
ems. and many kinds of lightweights have
been opened with notable irreguarlty in prices
some lower and others higher than last year But
the manufacturer is better sustained thus far than
any executed, and the feeling Is very hopeful. es-
pecially labor troubles have substantially ended
Cotton goods also continue to advance and the
mills generally well employed. Speculation
has ad anced cotton 3-16, though the crop news is
favorable but has depressed wheat cents in spite
of estimates that the yield has been materially
reduced since June /. Every year the crop reports
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 100000 bales of American cotton
available here and abroad and with least 65,-
600 900 bushels of surplus wheat, although some
make the quantity 10000, 900 bushels larger. The
crop of oats is certain to be large and the prospect
for corn has greatly improved within the past few
weeks.