The star. (Reynoldsville, Pa.) 1892-1946, 1896-12-09
BUT FEW FAILURES.
Dun Sees Grea. Encouragement in the
Situation.

The classified failures for November show
a gratifying reduction compared with octo-
Der, and are especially important as showing
that tho peculiar disturbance during the
presidential campaign, which sweiled failures
s36,OO0, 900 In August and September did not
prevent quick return to monthly aggre-
gate scarcely greater than that OF May. De-
| faulted liabilities In eleven month have been
Sl9S, 73S, ,450, against SliS, ,202 last year,
the increase being only Sli, ,00U,O 900 outside OF
those two months. aud this remaining In
| crease 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 OF 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 combinn-
tions by which the iron industry has been
retarded, and the possibility that two others
| will be abandoned. Such q state OF things
within month after election suggest that
these organizations formed when depressed
business failed to support all the works In
existence, are not expected to survive a gem
eral revival OF ample demands for pro-
ducts The immediate effect Of breaking
| prices IL to check large buying OF iron and
] steel products, but 1t will soon be about
where prices nrc to range. The bar combi-
nation Is still undersold by steel bars ut 1. 1
cents, and nothing Is doing IN rails because
whether any price shall be fixed for next
| year. Bessemer pig at Pittsburg is lower,
sl165 and gray forge mt $40, but there IL
large demand for vessel plates, both on
foreign contracts and for the lakes. Several
thousand ears have been ordered, and nu-
merous new buildings and bridges.
Minor metals are a shade stronger. The
| coke combination has changed its method, so
| that contracts are openly made below prices
recently ruling, and there Is some partition
| OF consumers among the producing interests.
Anthracite sells below the Official circular
but better demand Is expected with revival
| In manufacturing. Wool manufacture il
Whiting, and while more concerns are at
work, the new demand improves but little
with more favorable weather. Speculative
sales OF wool continue large, London prices
have risen 10 per cent and the average
OF l0i quotations by Coates Bros. Is
H. 96 against ~ 80 "a month ago. In the cot
ton manufacture thereis little change, though
goods are selling better; but with many
added works production exceeds present
demand.
The market for raw cotton is weak, with
middling uplands an eighth lower, with over
4,16O, 600 bales In sight by December ], when
the crop is usually about half in sight. Cur
rent estimates would leave only $500, 900
bales more to come forward In nine months,
| and the larger consumption In mills does not
advance prices. Other produce markets have
been weaker. Wheat rose to the close last
week, but gradually reacted and broke sharp
ly on Friday, closing 29sc lower for the week.
Storms had some influence, but receipts for
the week were tny 2,96i, ,s2l bushels, against
7,0i4 9l1 bushels last year. Atlantic exports
were slightly smaller, -four included, 1892
| 467 bushels, against 2,325,0g3 bushels last
year, but the sharp advance In prices would
naturally check shipments.
Milling returns at the four largest western
| centers show n decrease of % $50 barrels for
the week, and further decrease Is expected,
owing to diminishing exports demand for
| -four
Failures for the week have been 379 In the
United States. against 1924 last year. and in
Canada 65, against so last year.