The herald., 1896-04-04
TRADE REVIEWS
Commercial Conditions as Reported by Dun
and Bradstreet

Commercial Conditions as Reported by Dun
and Bradstreet
New YORK, April 3.-R. G. Dun & Co.'s
review OF trade will say:
The regular quarterly statement of fail.
ures show 4O3I with liabilities of S57'-
425, ,135, against 1902 last year with liza
bilities of $47,Sl3.6S3, and 43O4 in the
year 1894 with liabilities of $64, 1877 1888.
The average liabilities were $l4,246,
against T12.577 last year and S14 900 in
1894. Manufacturing failures were S33,
23,5O7 1876, against $2O,223, ,991, an in.
crease of 1872, but the increase in compar-
ison with 1894 is 1914 per cent.
Trading failures were Bis, with liabili.
ties of $3l ,424,3 1912, against $25.079.S94
last year, increase 20 per cent, but in
comparison with 1894, the decrease is SO
to payments through clearing houses WAS
$4.45 per $1,000, the average previous ten
years having been 1927 and tie average
per firm in business was $47.4S, against
$4S.64 for the previous ten years. The
main increase over last year has been in
manufacturing failures in New York,
Pennsylvania, Ohio and Kentucky and in
trading failures in Texas and Minnesota,
owing to two recent large defaults. Other
commercial failures are also larger than
last year, practically all the increase being
at the south. Banking failures have been
with liabilities of only S4,751 .972, against
Sl3,4S2,537 last year. More than
half the entire banking defaults
wore in northern states west of
the Mississippi river.
Gold exports are rumored, but at this
season are so far natural that they have no
such power to cause alarm as they had in
winter.
The gigantic steel combination is expect
ed to have an influence in sustaining mar
kets and stimulating confidence, and
though such operations often miss the sue
cess they seek, they rarely fail to kindle
speculative buying for time. The sud-
den advance Of so per ton in billers q week
ago has raised Bessemer pig 81 at Pitts
burg, and the demand for structural forms
increases in expectation that prices will
rise. Nail associations have given notice
of another advance of 10 cents at the end
of this month. Bars have been greatly de-
moralized, but some makers now hope to
re-establish the combination, as steel bars
will become dearer. But only one foundry
Is slightly lower at Philadelphia, and the
general demand for finished products does
not yet improve. The steel concerns pro-
pose to restrict production by allotment,
those producing more than their share
paying ~ per ton to those who produce less.
Orders for lake copper are solicited at
1O1 cents and lead is weaker at $40, but
a single buyer lifted tin to 1885. The
wooien manufacture does not gain in
orders, and large part of the machinery
is stopped. The price of wool has fallen
~ per cent, the average of 1O4 quota
tions being 1892 cents. Sales in March
were smaller than in any other month
since S94, and for the quarter were only
75.l47 $50 pounds, of which 3O,916,3O0
was foreign, against 69,0S1 1916 last year,
of which 26,25S,85 was foreign.
Wheat has slightly advanced, and If late
reports of injury from extensive frosts and
storms prove correct, will advance more,
s51ouen s western reeeip's continue nearly
five weeks past have been 13,315,4
bushels against 1881 1872 last year, while
Atlantic exports have been only 6,733,-
1872 bushels, flour included, against 8.435,-
7O1 last year. Corn exports are larger and
receipts also heavy, but pork has declined
rs cents per barrel