Omaha daily bee., 1897-06-05
SIGNS OF BETTER TINES
Remarkable Falling Off in the Number Of
Business Failures.
PROSPERITY COMING IN NEAR FUTURE
Volume of Business Now Is Create
than I'm the Prosperous Year OF
1892, Although Prices
Are Lower.

NEW YORK, June Ar. G.. Dun & Co.'S
Weekly Review of Trade tomorrow will say:
The statement of failures in May by branches
of business gives much encouragement IN
amount OF defaulted liabilities the month was
the smallest since September, 1875, in manutac-
turing liabilities the smallest since November,
1885. and in trading liabilities the smallest since
September, except the last month, 1894 Failures
OF general stores have not been as small in any
month as in May, 1897. In only two months out
of thirty-siX have there been smaller tallules IN
books and hats. only five in groceries and not
one trading class in that month has reported
failures larger than in that of the preceding
months, though in furniture failures are rather
numerous. In clothing manufacture the month
was the smallest except four out of thirty-sx,
except five in chemicals, six in wooden goods
seven In machinery, lumber and miscellaneous
manufactures, and exceeded the average only in
iron and cotton goods and e~arthenware, owing
to a few failures of exceptional size.
Nobody can mistake the meaning OF such re-
turns. The statement that, except Tor me tenn
porary depression In prices, the volume OF bust
ness transacted is now larger than II was In
1s92-the year of greatest prosperity-has been
questioned by some. But n comparison OF prices
this week in the leading branches OF manufac-
ture not only confirms that view, but shows a re-
markable similarity to the course of prices in
the earlier months OF 1879, when the most Won
derful advance in production and prices ever
known in this or any other country was close
at hand. The key of the situation is the excess
sive production of some goods in advance of an
expected increase in demand. So in 1879 consump-
ton gradually gained, month by month, until
suddenly 1t was found that the demand was
greater than the possible supply. All know how
prices then advanced and the most marvellous
progress In the history of any country resulted
within two years.
Reports from all parts of the country now
show that retail distribution OF products is un-
usually large and increasing. There is no i'm
provement in the market for farm products. Cot
ton is not higher, and the belief that the next
crop will be large in spite of the floods is gen
eral, while the demand for goods does not
change, although in this country it is large
enough to keep the market for most goods steady.
Nor is there any satisfaction for wooden goods,
and the sales OF wool for the week have been
against 26, 500. $50 in the corresponding weeks of
1892. The transactions greatly exceed the de-
mands of the mills, although these are larger of
late, because manufacturers of wooden goods have
steadily increasing orders. The iron industry Is
apparently expanding production and is certainly
getting larger contracts. in part because of very
low prices, 1 cent being made for beams. Bes-
semer pig Is stronger and gray forge n shade
weaker under pressure Of southern anxiety to
sell. The rail mills are all full. the Illinois
Steel company having orders for a railway and
bridges in Corea. and there Is better demand for
plates and sheets and from makers OF agricul-
tural implements at Chicago for bars. Ship
ments of iron ore from Duluth far exceed those
of any previous year, both the Minnesota Iron
company and the Carnegie mines shipping over
100, 900 tons each per week. While the rod com,
bination has not yet been formed, expectation OF
1t with a large demand has advanced prices OF
nails 5 cents per keg. Tin is very firm in spite
of a visible supply OF "a, 1886 tons at 1850 cents
and there are large dealings In copper not above
II cents for lake. Lead is in fair demand al
1925 and tin plates are still selling at $3.50 fol
full weight American.
crop prospects are SO good that the rumOrs
customary at this season have no attention. II
wsB stated a week ago that along the northwest
ern roads prospects were remarkably bright ant
highly favorable reports have since appeared
from Kansas and from Texas. and are given ir
today's dispatches from the Pacific coast. TIL,
receipts at western points are 2.O5S. 795 bushels
against 2.0O6. ATS last year, and the Atlantic ex
ports, flour included, were 2,165, 7S7 bushels
against 1889. $50 last year. The enormous outgt
of corn continues, receipts having been 5.S21, 90
bushels, against 2.609, 1884 for the same week las
year. and the exports were 1926, 56s bushels
against /, 293, 3l6 last year.
Failures for the week have been 241 in tn
United States. against 234 last year. and thirty
two In Canada, against twenty-nine last year.