The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-07
FAILURES ARE FEW.
Liabilities in July, $7,117,727, Com
nnred with S6O. .OOO. 600 .InIx 1aN3

NEW YORK, Aug. 6.-R. c. Dun & Co.'s
weekly review of trade tomorrow viii say:
Four years ago, Aug. 5, 1898, the first
number of Dun's review was issued with
failures in that month amounting to over
$50, 100000 while in the month just closed
failures have been only $7,117, ,727 the small
est in any month since 1892 The state
ment of failures by classes of business for
July and for forty-six months shows that
in manufacturing, failures have been
smaller than in any other month of the
entire period in trading, smaller than in
any other month except one, and in many
branches of each department smaller than
in most months of which records exist
The pessimists who pronounced reports
of gain fictons and Misrepresentation
have grown weary of their dismal views
and begin to see the dawn of better days.
Last month was the first for four years
of which the volume of business reported
by clearing houses was larger than in the
same month of 1892, and the teIegraphic
dispatches from all parts of the country
given this week show gratifying improve
ment. This is partly due to a large yield
for which there is good prices though the
crop is probably not as large nor are prices
thus far as high as in 1892, but of cotton,
the price is higher and the yield probably
ucts are realizing greater prices and the
possible decrease in yield of corn may help
to take the enormous supply brought over
from last year. Liquidation of a powerful
combination in wheat brought reaction of
cents on Thursday, but a gain of ~ the
day following occurred.
1t is the wrong season to expect much
from industries and yet there has been ma
terial increase in the number of hands en-
ployed in the iron manufacture, because
of the satisfactory adjus tment of the wage
disputes with the Amalgamated Associa-
tion and the opening of numerous esta blish-
ments which have been waiting. while the
coal miners strike seems each day more
likely TO end IN permanent settlement
beneficial to both parties. Meanwhile the
demand for most finished products is
steadily increasing, the feature this week
being large pipe contracts for Russian oil
fields, Sumatra and Germany While con-
SUMPTION does not yet equal the capacity
of the works in operation and prices of
iron and steel products average slightly
lower the situation is altogether more
hopeful. In minor metals the consumption
of tin equals the receipts, so that prices
do not change and the visible supply is
practically the same as a month ago, while
exports of copper have been heavy and
prevent a decline OF lake below II cents,
and realizing in lead has caused only
slight decline to 3.S0c.
The sales of wool, comparative returns
by months show, bear little relation to the
actual consumption in manufacture. but
heavy liquidation since the new tariff bill
enacted gives the impression that some
dealers are no longer confident of speedy
advance. Nevertheless prices have risen
during the past few weeks nearly 1c per
pound. Manufacturers are buying but lit
tie, though they are rapidly increasing the
output, and are able TO obtain an advance
of about 10 per cent. in prices of goods
with rapidly increasing orders. The tenn
porary curtailment of output by cotton
mills continues, but does not yet bring inn
proved prices for products. although the
demand is generally gaining.
Failures for the week have been 2S7 in