The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-12-12
OUN's COMMERCIAL REVIEW.

- thS III LhC uL4Dc "
Failures for the Month OF November to
About Forty Per Cent. OF the Septem-
her Aggregate Gives Ground for the
Confidence SO Generally Expressed.
New YORK, Dec. 5.-R. q. Dun &
Co. say to-day in their weekly review
of trade:
The classified failures for November,
given to-day, show Il gratifying rednc-
tion compared with October, and are
especially important as showing that
the peculiar disturbance during the
presidential campaign, which swelled
failures sac. O0O,O O0 in August and
September, did not prevent a quick
return to a monthly aggregate scarcely
greater than that of May. Defaulted
liabilities in eleven months have been
Sl9S, 73S, 40. against Sl4S, 544, 202 last
year, the increase being only l4,0O0.-
100 outside of those two months, has
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 forty per cent. of the
September aggregate gives ground
for the confidence SO generally ex-
pressed.
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 hat two others will be
abandoned. Such a state OF things
within Il month after the election sug-
/ gests Thai these organizations, formed
when depressed business failed to sup
port all the works in existence, are
not expected to survive Il general re.
vival anG ample demand for products.
The immediate effect of breaking
prices is to check buying of iron and
steel products, but it will soon be
seen about where prices are to
range. At present the base price
for wire nails is SIPS, against
Sl.55 two weeks ago, with greater re-
Iuction on small sizes because new
cards reduced extra" charges. Beams
are selling at Sl.35 against Sl.55 two
weeks ago. The bar combination is
still undersold by steel bars at IL
cents and nothing is doing III rails be-'
cause the meeting shortly to be held
will settle whether any price shall be
fixed for the next year. Besseme;
pig at Pittsburgh is lower ut Silt IS
and gray forge at SlU, bat there is
large demand for vessel plates, both
IN foreign contracts and the lakes.
Several thousand cars have been or
dcred and numerous new buildings
and bridges.
Minor metals are Il shade stronger.
The coke combination has changed its
method SO that contracts are only
made below prices recently ruling,
and there is some partition of consum-
ers among the producing interests.
Anthracite sells below the official
circular, but better demand is eX-
oected with revival in manufacturing.
Wool manufacturing is waiting, and
while more concerns are at work, the
new demand improves but little with
favorable weather. In tie cotton
manufacture there is little change,
though goods are selling better, but,
with many added works, production
exceeds present demand.
The market for raw cotton is weak.
With over :, 15n,OOO bales in sight by
December /, when the crop is usually
ibout half in sight, current estimates
would leave only 3,50J,OJ0 more to
come forward in nine months, and the
argest consumption in mills does not
advance price,. Other produce mar
Gets have been weaker.
Wheat rose to the close last week,
but gradually reacted and broke
sharply on Friday, closing 255 lower
:or the week. Yhe weeks business,
IS shown by the clearinghouse re-
;urns, was one per cent. over last
year and the month Of November three
per cent, and il per cent. less than
1892. the comparison being the best
Tor the past five months.
Failures for the week have been 379
Ia the United States, against 81 last
,ear, and in Canada 81, against 81 last
year.