The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-07-09
TRADE.

Dun's review reports 1881 failures for
the last three months. There were 16
failures among banks and brokers. Five
cotton mills failed at New Bedford.
orders have decreased. In some iron
and cotton works wages have been re-
duced, owing to low prices, one cotton
mill in Virginia closing because reduc-
ton was not accepted. Great expecta-
tons are placed on the high rObber
tariff. Dun says railroad building.
only 622 miles in the half year, was
mailer than in any previous year since
1875 except in the first half Of 1894. but
railroad recefverships, covering lob
miles with S1O9, 291, 500 stocks and bonds,
were the smallest since 1898"
There are excellent crop prospects
reported. Iron and steel industry halts
at midsummer" Dun reports:
Textile manufactures are waiting,
and cotton mills curtailing production
with large stocks on hand, n prices
scarcely changed, while wooden mills
are gradually increasing work with
DpllcI OIutIS, LIN pIiCCS illSlIIIc ~ VA
vance a shade"
Failures last week were 241, against
PIC week before and 1913 week before
that. No Improvement there surely.
The south suffered from "a, against As,
preceding week, and 40 the week before
that.
Bradstreet's for last week, says that
no large eastern business centre reports
an increase of business. Now attend.
Dun, always trying to make the out
look the best possible, reports above
but 1881 failures for the last quarter.
Bradstreet's gives the figures for six
months at 1924. Total liabilities of in
dividuals, firms and corporations fail
ing abount to 1913, 656, 900, a decrease of
Sill, S79, 900 from the corresponding total
last year and of 81, 204, 900 from the liza
bilities reported in the first half of the
panic year 1898. 1t says the liabilities
have increased.
Among recent failures reported in
the newspapers, excluding the large
strike among miners, involving Brad
streets says some 200, 900 men, we give
the following. At Matheren, Mass,
500 operatives must suffer a cut of
wages or be discharged and the mill
will suspend. The Worcester (Mass)
Bicycle Company reuced wages 10 per
cent n 100 workmen have struck.
About 300 able seamen at Boston have
struck because of reduced wages.
The management of the Reading
iron works, at Reading, Pa, on Satur-
day night decided to close its tube mill
indefinitely. By this, over 1000 hands
will be thrown out of employment.
The entire force of the employees of
the Apsley Rubber Company, at Hud-
son. Mass, have returned to work at
wages considerably lower than those
formerly paid.
\ Salem, Mass, dispatch says that
the Naumkeag steam cotton mills have
| posted notices to the effect that for an
indefinite period the mills will be run
four days a week. The reason assigned
is poor business
At Depew, N. Y, the Union Car
Company a dismissed nearly all of
its office force-cause, stagnation in
business. How a politicians and
newspapers lie so largely about The
presence of prosperity everywhere
when right now iron, steel, glass, tin
plate and cotton factories are shut
ting down? That is strange prosperity
and as signs are very misleading as
such. There have been 81, 900 additional
men thrown out of employment in In
diana by the shutdown of the window
glass and tin plate factories. Oh, we
are wallowing in prosperity!