The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-05
LESS BIG FAILURES
GRATIFYING REDUCTION SHOWN
BY THE CLASSIFIED STATE
MENT FOR NOVEMBER.
GROUND FOR CONFIDENCE.
DUN'S WEEKLY REVIEW OF
TRADE AGAIN HOPEFUL
IN IT'S TONE.
pected by Jobbers During
the Present Year.

NEW YORK, Dec. 4-Dun & Co.'S
review of trade tomorrow will say:
The classified failures for November
show gratifying reductions, compared
with October and are especially i'm
portant as showing that the peculiar
disturbance during the presidential
campaign, which swelled failures $685.
100000 in August and September, did
not prevent quick return to a monthly
aggregate scarcely greater than that
of May. Defau1ted liabilities in eleven
months have been $198, 1913, 459, against
1854, POP last year, the increase be-
ing only 100000 outside of those two
months and this remaining increase
Of only 10 per cent was also in part
due to the alarm during the campaign.
The decline Of failures to about 40 per
cent ON the September aggregate, gives
stronger ground for the confidence so
generally expressed.
Ground for confidence is also found
in the abandonment of two of the
largest combinations by which the iron
industry has been retarded and the
possibility that two others will be
abandoned Such a state Of things
within a month after the election sug-
gests that these organizations, formed
when depressed business failed to SUP
port all the works in existence. are
not expected to survive q general re-
vival of ample demands for products.
The immediate effect Of breaking
prices is to check large buying of iron
and steel products, but it will soon be
seen about where prices are to range.
The bar combination is still under
sold and nothing is doing in rails be-
cause the meeting shortly to be held
will settle whether any price shall be
fixed for next year. Minor metals are
q shade stronger. The coke combina-
ton has changed its method so that
contracts are openly made below
prices recently ruling and there is
some portion of consumers among the
producing interests. Anthracite sells
below the official circular, but bet
ter demand is expected with revival
in manufacturing
Wool manufacture is waiting and
while more concerns are at work, the
new demand improves but little with
more favorable weather.. Speculative
sales Of wool continue large In cot
lOIl IIfdAuIdcIufe In6fo IS little change.
though goods are selling better, but
with many added works, production
exceeds present demand. The market
for raw cotton is weak. Other produce
markets have been weaker. Wheat
rose to the close last week, but gradu-
ally. reacted and broke sharply on
Friday, closing 23s cents lower for
the week. Storms have some influence,
but receipts for the week were only
2,964,S1 bushels against 7,014,911 last
year, Atlantic exports were slightly
smaller flour included, 1892 467 bush
els against 2,326,093 last year, but the
sharp advance in price would naturally
check shipments. Milling returns at
the four largest Western centers show
a decrease of 28,490 barrels for the
week and further decrease is expected
owing to diminishing export demand
for flour.
Failures for the week have been 379
in the United States against 324 last
year and in Canada IS against 81
last year.