Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1897-11-06

October Cne of the Best Months
For Four Years.
MILLS REFUSING MANY ORDERS.
Unable to finish Previous engagements
Soon Enough Wheat Rose Above 81,
but Dropped Bacl-Corn Has Grown
stronger-The Business Failures.

New YORK, Nov. 6.-R. G. Dun %
Co. IS Weekly Review of Trade issued
today says: Stronger proof of the great
change i'll the condition of business
could not be given than is found in the
detailed report of failures by branches
of business for the month of October.
Though swelled by few large specu-
lative or brokerage failures, the aggre-
gate was smaller than in any other
month than for four years, except in
July and August and one month IN
1894 The manufacturing and trading
failures, $7,S23, 1919, against $7.830,81
in September and 81, 760, S35 in August,
include one for 100000 having for
relation to the present state of bus1-
ness. During the four years iron
manufacturing failures have not been
smaller except in one month, wool
manufacturing except in two months.
leather and shoes and unclassified
manufacturing, except in four months
and cotton manufacturing except In
six months. OF trading classes, fail
ures have never been smaller in gro
ceries, jewelry and books except in one
month, in clothing, furniture and un-
and 10 manufacturing and II trading
classes out of IA each have never re-
ported smaller failures i'll third of
the past AZ months. Improvement so
general with a remarkably low aver
age of liabilities In most classes has
meaning which cannot be mistaken.
The quiet following the great rush OF
orders and purchases for over two
months is still increased III many
branches by unreasonable mild weather
and vet the mills are obliged to refuse
many orders because unable to finish
previous engagements soon enough. 1t
is every way fortunate for the indus
tries and the would-be buyers, since
speculative purchases would otherwise
advance prices so fast as to make re-
action probable. More works have
joined the active list, including some
long idle, and the production in iron
manufacture is the greatest ever
known. The output of pig again ex-
ceeds the demand, which naturally
diminishes near the close of the year,
and prices yield slightly, but the con-
sumption is kept at the maximum by
pressure of orders, which the works are
not able to fill fast enough. The Illinois
Steel company, shipping 5000 tons of
finished products per day, is behind.
Eastern and western orders accumu-
late for railway materials, for cars and
bars, for ship plates and structural
forms.
Cotton manufacture is doubly him
dered by decline in cotton and by accu-
mutation of goods with slow distribu-
ton, so that print cloths have fallen to
2.31 cents, new low record, and staple
goods are sold at concessions, all aver
aging not per cent above the lowest
point. In wooden goods advance has
been arrested by doubts about the fu-
| ture market for goods and cost of wool,
which has advanced slightly in Octo-
Der, though heavy sales to take profits
are reported, few at Boston covering
100000 pounds this week. The mills
have all they can do for some time, and
the opening of next season may be de-
ferred until the future can be more &C.
curately Judged. Cold weather is
greatly needed to hasten distribution
of textile goods and to provide indlca-
tions of the future demand.
Another rise in wheat lifted the price
above 81, but profit taking speedily
caused reaction, and the price closed
30 cents lower for the week. Re-
ceipts were about 100000 bushels
larger than last year. and Atlantic ex-
ports, flour included, were 3,2S7, 536
bushels. against 1862, 1913 last year.
Exports in October, as in September.
were heavier than in any preceding
month. and after gloomy reports of the
condition of winter wheat. extensive
rains have caused material improve
ment. Corn has grown stronger in
spite of the course of wheat, and auth
critics much credited estimate the yield
at 1923 90, 600 bushels, which would
hardly permit continuance OF heavy
exports in place of wheat through the
year.
Failures for the week have been 276
in the United States. against 0 last
year and 30 in Canada, against 81 last
year