The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1897-04-10
FINANCE End
TRADE REPORT
AS Reviewed by the Two Leading Com
mercial Agencies.
SOME STATISTICS or FAILURES
Banking Failures Covered More Than q
Pifth Of the Total Amount Involved
in the First Quarter Of the
Southern Indus
try Checked.

New York, April 1O.-R. G. Dun &
Co.'s weekly review of trade says: Out
of 4.006 failures, with liabilities Of $780,
752,561 in the first quarter "a banking
failures covered more than fifth of
the amount. $12,744.G50. and 3.345 fail
ures, with liabilities of $35 947, ,S92, OF
nearly three-hfths, are classified this
week according to branches of busi-
ness, leaving only 5S7 failures and less
than a fifth of the liabilities, S12, $50 019
in branches of manufacture or trade
not specified. Only 2 of the 13 manu-
featuring classes and only 4 of the 13
trading classes show liabilities for the
quarter larger than last year. and only
8 manufacturing and trading show
larger average liabilities. For the
month of March only manufacturing
and trading classes show larger
amounts than last year, and only 2
manufacturing and s trading show a
larger average Of liabilities. In almost
every case, also, it is shown that the
increase is due to one or two eX-
ceptionally large failures in that class.
The returns compared with those Of
three previous years disclose much i'm
provement already, and a bright pros
pect for more hereafter.
A sudden collapse in the wheat mar
ket, exceeding three cents in a day, APP
pears to have no other cause than a
belated perception that past accepted
estimates of yield and consumption, Of
fetal and other, have been misleading.
Floods and unfavorable weather for
seeding have no weight The expecta-
tion Of great scarcity and high prices
burst like a bubble, and for time the
l.
by spectators for fall. Facts have
not warranted hopes of a great ad-
vance. nor do they now warrant much
expectation of decline.
The demand for cotton goods does
not increase, although sales of fair
magnitude continue, but print cloths
are dull Speculation in wool has been
checked by the possibility that duties
may take effect April /, and some large
shipments from abroad have been
countermanded. while traders here are
less disposed to sell,
The iron industry is hampered by
the contest between the Mesabi ore in
terests, which prevents as yet any set
tlement of ore prices, and leads many
to expect further decline in finished
products. Some furnaces have stopped
because the production of pig had out
run the demand for finished products,
and heavy stocks remained unsold.
Bradstreets' review says: The busi-
ness situation, as a whole, shows no
gain. Staple lines are only fairly active,
OVerflows, washouts and floods con-
tinue to do great damage in the Missis-
sippi and Missouri river valleys,
throughout a greater portion of which
general trade remains practically at a
standstill Rainy weather, extending
from the central west to northwestern
spring wheat states has rendered coun-
try roads almost impossible, with the
natural effect upon business. AS the
/ region threatened includes the richest
/ portion of the cotton belt, the prospect
for delay in planting a second time in
dicates the possibility of a heavy res
duction in acreage this year, whence
the advance in cotton this week.