The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-04-04
IT IS SOME BETTER
SPRING RISE SMELLS in G0RGED
BUSINESS CHANNELS.
Ii Is Morally Certain That People Must
Buy and the Reduction of Year-Old
Stocks is Confidently Expected in the
Course of Time, the Movement Being
Already Perceptible-Business Failures
for the Quarter Break the Record In
Some Particulars-The Steel Combine.

Tor the Quarter Freak the Record ir
Some Particulars-The Steel Combine.
| New York, April 3.-R G. Dun & Co S
weekly review Of trade, which issue
tomorrow, will say:
The regularly quarterly statement of
failures shows 4,031, with liabilities of
7,425,135, against 3,OS2 last year, with
liza bilities of s47 ,S136S3. and 43O4 in the
same quarter of 1894, with liabilities OF
S64,127,S3S. The average liabilities were
s14,246, against s12.577 last year, and
$4,000 in 1894. Manufacturing failures
were 1913, against 651 last year. with
| liabilities of $23, 507, 1926. against $50, 223,-
991 last year, an increase of 1872 per
cent, but the decrease in comparison
with 1894 is 16.4 per cent. Trading fail
ures were 3,11S, with liabilities of $751;
424,512, against s25,979.Ss4 last year; in
crease 20.9 per cent, but in comparison
with 1894 the decrease is 60 per cent.
The ratio of defaulted liabilities 10
payments through clearing houses
was S4.45 per 81, 900 the average, previ-
Gus ten years having been 1927, and the
average per firm in business was S474S
|
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, practi-
| cally all the increase being at the south.
Banking failures have been 81, against
&c last year. but with liabilities of only
81, 751 ,497, against S13, 4S2, 5S7 last year.
More than half the entire banking de-
faults were in northern states, west of
the Mississippi.
The improvement expected with the
spring weather begins, though in some
branches of business scarcely visible
AS consumers make spring purchases
they must lessen stocks and compel
buying. The stocks taken in advance
OF last summers demands have been
distributed far more slowly than was
expected, but months of waiting have
helped to lessen the load which it is
hoped spring buying will clear away.
The backward seaoson has been a hin
drance, as has also been the number of
hands unemployed in important indus
tries, and the low prices of farm prod
uctS. Apprehension of foreign finan-
cial difficulties have hindered, but are
now scarcely felt. Gold exports are
rumored, but at this season are so far
natural that the yhave no such power
20 cause alarm as they had in winter
The gigantic steel combination is ex-
pected to have a great influence IN sus-
tanning markets and stimulating conf
dence and though such operations of
ten miss the success they seek, they
rarely fail to kindle speculative buy
limo
81 per ton in billets a week ago has
raised bessemer pig 81 at Pittsburg,and
the demand for structural forms in
creaseS in expectation that prices rise.
Nail associations have given notice of
another advance of Is cents at the end
or this month. Bars have been greatly
demoraEzed but some makers now hope
10 reestablish the combination. as steel
bars will become dearer But one
foundry is slightly lower at Philadel-
phia, and the general demand for fin
ished products does not yet improve.
The steel concerns propose to restrict
production by allotment, those pro-
ducing more than their share paying 81 I
per ton to those who produce less. Or
ders for lake copper are solicited at 101a
cents and lead is weaker at 80 cents /
but a single buyer lifted tin to 1859.
The wooden manufacture does not |
gain in orders, and a large part of the |
machinery is stopped. Prices of wool /
have fallen ~ per cent. the average |
of l04 quotations being 1852 cents. Sales |
in March were smaller than in any |
other month since 1894, and for the quar- !
ter were only 5,147. $50 pounds, of which |
30 9l6, 200 was foreign. Cotton mills |
still pile up goods in advance of orders,
as reductions in prices have failed as
yet to stimulate buying.
Speculation in products has been very
tame. Cotton continues to come for
ward so largely that former predictions
Of 100000 bales are remembered with
derision and the outlook for the next
crop continues good. Wheat has
slightly advanced and If late reports
or injury from extensive frosts and |
storms prove correct, will advance
more. though western receipts continue
nearly 90 per cent larger than last year,
and for five weeks past have been 49,
S35, 40 bushels, against SS31.372 last
year, while Atlantic exports need only
), 1856 12 bushels, flour included. against
!, 435,701 last year. Corn exports are
larger and receipts also heavy. but
pork has declined 10 cents per barrel.
TRADE REVIEW
New York, April 3.-Bradstreet's to-
morrow Will say: Stormy weather az
The northwest, continued restriction of
distribution of staple merchandise and
unsatisfactory mercantile collections
continue TO be the leading Characters
les of general trade. The conspicu-
IOus change is in the steel and iron
markets The formation of a pool OF
of steel TO regulate pro-
iuction and maintain prices results in
IN advance of SO per ton in quotations |
or steel billets and sL25 per ton for
'essemer pig iron. \ corresponding
timulus is given quotations for other
orms Of iron and steel. Where as
eading natal markets were dull and |
depressed a week ago, activity Is now
eported with prospect for further ad-
-ances. This must naturally tend 10
emulate kindred industries Add
ional favorable features are reports
hat at Baltimore. the quarters general {
rade has been the best for years: that 1
here has been slight increase in the
0lume OF business a PittSburg; that at :
Kansas City distribution OF general q
merchandise i fair, but commission | a
ouses admit being overrun with coun- !
~ cOnsignments which are slow ot !
ale; and the demand for dress woolens
I autumn delivery. has been sufficient I
stimulate manufacturers 10 buy ma a
arial more freely.
Exports Of wheat (lour included as {
heap from both coasts OF the United ,
states this week aggregate I.ss3.O 900
ushels. against L7i4.er0 last weey. .
s. 600 in the week a year ago. 2.77S.OGO
! the week TWO years ago. and as com
AIRED with S,S65. coob usheIs in the Ike ] G
eek IN 1925. Exports Of Indian corn | .
ave tncrea sed and amount % 9.T3e.O 900 | Z
lShalS this week. TIM inns rrha. | .