The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1896-12-10
GROUND FOR CONFIDENCE.
Decline In Business Failures Regarded -
Hopeful Sign.

oUSI0o80
. Hopeful Sign.
New York, Dec. 5.-R. q. Dun & Co.,
in their weekly review Of trade. say:
'"rhe classified failures for November.
given to-day. show gratifying reduction
important az showing that the peculiar dis
turbance during the presidential campaign.
which swelled failures $50. QUO 600 In August
and September. did not prevent quick re-
turn to monthly aggregate scarcely
greater than that Of May. De'aulted ia
against $1lS.644.202 last year. the Increase
being only .00o outside Of those two
months, and this remaining increase OF
only 10 per cent. was also due in part to the
alarm during the campaign. the decline
Of failures to about 40 per cent. OF the Sep
Tor the confidence 80 generally expressed
Failures for the week have been SO In the
United States. against s2a last year. and III
Canada IS. against 81 last year.
Ground for confidence Ia 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 Il
state Of things within a month after tho
election suggests that these organizations.
formed when depressed business failed to
support all the works In existence. are not
expected to survive'a general revival and
ample demand for products. The immedi-
ate effect Of breaking prices is to check
buying Of iron and steel products. but 1t
will soon be seen about where prices are
to range. At present the base price for
wire nails Is SIPS. against S2.55 two weeks
ago, with greater reduction on small sizes.
because new cards reduced extra"
charges. Beams are selling at $1.35. against
$50 two weeks ago. and there are sales of
billets below the fixed price. The bar COM
btnation IL still undersold by steel bars at
III cents. and nothing is doing in rails. be-
cause the meeting shortly to be held will
settle whether any price shall be fixed
for the next year. BesseEner pig at Pitts
SO. but there Ia large demand for vessel
plates, both on foreign contracts and Tor
the lakes. Several thousand cars have
been ordered and numerous new buildings
and bridges.
The volume of business shown by clear
Ing house returns was for the past week
nearly per cent. over last year. and for
the month Of November per cent. and II
per cent. less than 1892, the comparison be-
ing the best for the past five months.''
Bradstreet's says:
General trade continues in moderate
volume, jobbers and wholesalers being
agreed that there will be no business re.
vival this year. There is some activity in
holiday goods. Rains and stormy weather
south, and cold and severe weather west
and northwest. have checked traffic on
Interior country roads and otherwise in
terfererd with the distribution OF mer-
chandise, except at some northwestern
centers, where more seasonable weather
has stimulated the demand for heavy tex
tiles, clothing. hats and shoes. Through
out the central Mississippi valley there has
been no increase in demand in wholesale
lines, and at the south trade Is character.
lied as dull.
"Jobbers of dry goods report that sales
for future delivery have fallen of. Trans
actions in wool have fallen off, manufac-
turers buying only as they receive orders.
The situation in iron and steel Is unsatis-
factory. with unsettling rumors as to the
success Of the steel pool; comparatively
few sales of staple grades and no likell-
hood Of revival in demand prior to Feb.
ruary."