The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-06-29
oUN'S COMMERCIAL REVIEW.

Trade and Industry.
New YORK, June 22.-R. G. Dun's
report, issued to-day, says:
Failures for the second week of June
show liabilities of only 81, 092, 3Sa, of
which S702.35 were manufacturing
and 81, $780, 25 were trading; against
%, 9l7, SO in all for the same week last
year, Of which S6sS, 1S7 were manufac-
turing and -, 22O,7 100 were trading,
Additions for the first week of June
raise the aggregate for two weeks, in
GLIDING the Cordage concerns, to Sl4,-
321, s41, of which SlO,517,3 25 were IN an
ufacturing and 50, 6S4. liz were trad
ing.
Failures for the week have been 22s
in the United States, against PA last
year; and 81 in Canada, against % last
year.
He who sees a setback ut this time
must be gazing through a telescope
pointing by mistake at some other
country. From all parts Of the United
States the best advices obtainable tell
of a rising tide of trade and industry,
which threatens mere and there to
mount too far and too fast.
The volume of all business is by no
means equal to that of 1892 as yet,
though in some important lines larger
than in that or any other year.
Daily payments through clearing
houses in June are 26.9 per cent. larger
than last year, though Sc per cent.
e-,l1or %la- - 1SnD tha lact uoor nf
full business at this season. A rise of
more than a quarter in a single year
is the more significant because, in
spite of recent advances, the prices
of commodities as a whole
average a fraction of l per cent. lower
than a year ago. Two influences of
tremendous power contribute to the
rise: Encouraging crop news and o n
fdent replenishing of stocks which
have for two years been depleted to
the utmost. When business payments
have so long been SIS, 900, 900 yearly
less than before, it is not strange that
the increase should be at the rate of
ST., 600. 900 a year, when faith in the
future inspires general replenishment
of stocks.
Excepting too heavy rains in Texas
crop reports this week have been
highly encouraging. Future injury
to cotton cannot be predicted, but as
yet nothing indicates a yield below
1900, 900 bales, which would not be
supposed to threaten famine if the
commercial and mill stocks are re-
membered, now exceeding by $500, 900
bales, a full consumption until Septem.
Der l. Receipts continue small and
consumption close to the maximum
here and abroad, though the market
ing of British goods is not entirely en-
couraging. Liberal purchases of all
products by the south do lot indicate
belief that any serious misfortune i'm
ponds.
So the strong trade in the cereal.
growing states accOrds with brighter
crop prospects. The reports from
wheat states and from the
Pacific coast are so cheering that al
though the loss of winter wheat was
those whose estimates have been
most accurate in recent years o
vary in predictions from $50, 900, 900 tc
40, O00, 600 bushel.
Atlantic exports for three weeks,
-four included, have been only 3.75s,-
rs bushels. against 6,006, 2G2 last year,
indicating no urgent demand at cur
rent prices. There has been n fall OF c
cents in wheat, with heavier sales
than for three weeks past.
The rush for supplies in iron and
steel resembles a bear panic" in the
stock market. Because prices are
mounting, everybody hurries to buy.
that they mount higher. Bessemer
iron has reached Sl2. % at Pittsburgh,
the Bar association has advanced COM
to S1.15, the Wire Nail associa-
ton puts up the price to 81. > per keg,
the steel rail makers have raised the
price to S2h Eastern and south
ern furnaces have both raised
prices again 80 cents a ton, and struc-
tural beams are S1.35 and angles S1.25.
1t is undeniable that works in opera
ton are crowded with orders. and 9TH
ers which have been idle for years are
preparing to reSume.
Sales of wool at the CHIEF markets,
S, 113, 700 pounds domestic and 3, s44, 400
are larger than in any pre-
year for the same week, and n
three weeks of June have been 10, &c.
D65 pounds, of which 1854, 500 were
Holding of stocks by growers
higher prices has caused an adj
vance in the average of 1O4 qualities
Of domestic woods quoted by Coates
from 1870 o cents June / to 1927
cents; but Australian is bought on a
scale at Sc to 3S cents for comb
and "a to SO for clothing, both
secured, and want of domestic sup
plies is evidently causing heavy pur-
chases of foreign wool in advance of
needs.
Orders for mems w~oolens are a little
better, and the Washington mills are
generally opening up their clay
at an advance of about ~
per cent, though some lower grades
are reduced in prices.
Advances continue in cotton goods, |
and are sustained by unusual demand
and scarcity at time when the mills
are generally ANXIOUS to clear off old
Shipments of boots and shoes for the
week have been the largest ever known
n any week, 1O1. 425 cases, according to
he Shoe and Leather Reporter, and for