The Topeka state journal., 1897-12-04
r. G. Dan & Co. See Prosperi-
ty in the Fact
That Wages of 10000 Work
ers Have Been Advanced
WITHOUT THE ASKING.
All Are Engaged in Iron and
WOOlen Trade.
Wheat Declines in the Face of
Doubled Export Demand.

New York Dec. Ar. G. Dun & Co.'S
Weekly Review of Trade says:
The monthly report of failures shows
defaulted liabilities of s11.61O,125 in No
vember, against s12,7OO.S56 last year. Be-
cause of three large failures for s., $50 900
not due to present conditions, the aggre-
gate in November was only 81, 100, coo less
than last yeaT-and except for these would
have smaller than in August, September
or October. The decrease in nearly all
branches of business shows that pay
ments have been remarkably good and
defaults unusually small. Other evil
dences of the state of business are con-
vincing, except in speculative lines.
Wages have been voluntarily advanced
for nearly thirty thousand workers in
wOolens and iron. Stocks are somewhat
stronger. having advanced S1.47 for rail-
ways and $1.57 for trusts. The true value
Of American railway stocks is steadily ris-
ing with earnings, which for November
thus far are 20.9 per cent larger than last
year and 81 per cent larger than in the
same weeks of 1892.
1t is the season for waiting in most in
dustries, but at least one other furnace
has gone into blast and the lowest price
of Bessemer at Pittsburg. after purchases
of $4,000 tons, is $10.15 per ton, with $9.25
for grey forge. Eastern holders are
sometimes impatient, and yet sure that
January will bring a large demand, and
meanwhile the award of ship plate con-
tracts to eastern firms gives them i'm
portant help. though the demand for bars
is slow at the east and at Pittsburg. but
is really strong at Chicago for agricul-
tural and railway supplies. Structural
orders are seasonably in allegiance, but
contracts for pipe for London elicits sharp
bidding at Pittsburg.
The voluntary advance of 20 per cent in
wages OF worsted workers at Providence,
restoring the rates of 1898. is evidence of
the prosperity of that manufacture. After
much hesitancy in other branches, which
may be justified, this important depart
ment of the woOlen industry puts itself
a the front, virtually declaring its ability
to face any foreign competition The
purchases of Australian wool at Boston
have again been large, 2,4S50OO pounds out
of 6.17O 700 pounds of all wool at the three
chief markets against SSH, 300 pounds for
the same week last year But other mar
kets are extremely quiet and Boston is
doing the selling at prices not named.
No gain appears in the cotton manufac-
ture and the low price Of cotton still him
ders the buying of goods. Lower prices
than have ever been known are quoted
for print cloths, and also for some grades
of prints. and the average of cotton goods
is remarkably lower.
The wheat market has deceived every
body dropping IN the face of an enOr-
nous foreign demand, just when some ad-
vance might reasonably have been antici-
pated-
The western receipts, 6,Ss2 425 bushels.
against 1884 621 last year for the week.
and for five weeks 80, ,962, ,529 bushels against
%, 81, 456 bushels last year for the same
weeks. are just now more impressive in
the market than the Atlantic exports,
which have been 4.1S1,672 bushels, flour in
cluded, for the week, against 2,079, ,457
bushels last year, and for five weeks H.,
617,41 bushels, against 9,s17153 for the
same weeks last year. But in the long
run the outward movement will affect
prices, although the surprisingly large in
crease at the west indicates a consider
ably greater yield than has been antiei-
pated. The enormous receipts of cotton
from plantations, exceeding those, to date
from the great crop of 1O,OOOOO0 bales in
1894, tend to check all speculation, al
though both foreign and domestic de-
mands for spinners have been materially
restricted.
Failures for the week have been 306 in
the United States, against 379 last year,
and 28 in Canada, against So last year.