The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-12-04
WEEKLY REVIEW OF TRADE
THREE LARGE FAILURES NOT DUE
no PRESENT CONDITIONS.

no PRESENT CONDITIONS.
Wages Have Been Voluntarily Advanced
for Nearly 10000 Workers In woolens
and Iron-season for Waiting in Most
Industries.
New York, Dec. 3.-R. G. Dun & Co.
in their weekly review Of trade will
say: '
The monthly report of failures shows
defauIted liabilities of $11, 610,195 in No
vember against S127Oo,S56 last year. Be
case of three large failures for $9,S50,000
not due to present conditions, the ag-
gregate in November was only 81, 100000
less than last year, and except for
these would have been smaller than in
August, September or October. The
decrease in nearly all branches of bus
mess shows that payments have been
remarkably good and defaults unusual
ly small Other evidences of the states
of business are convincing, except in
speculative lines. Wages have been
voluntarily advanced for nearly 10000
workers in woolens and IRON
1t is the season for waiting in most
industries, but at least one other furn-
ace has gone into blast, and the lowest
price of Bessemer at Pittsburg, after
purchases of 10000 tons, is $1O.15 per
ton, with 1925 for grey forge.
The boot and shoe manufacture has
shipped from Boston 0S,429 cases, or
over 35 per cent. more than in 1892 dur
ing the month Of November, and has
this year unusual encouragement be-
cause order are practically all to meet
the winters needs, and manufacturers
have yet the whole Of next seasons Or
ders to come. While some jobbers are
paying higher prices asked, the wait
ing policy is still general, but the dis
tribution has so far outrun purchases
that dealers have to buy as best they
can for winter needs.
Leather is bought only for necessities,
and hides are practically unchanged at
Chicago.
The voluntary advance of 20 per cent.
in wages of worsted workers at Prov
idence, restoring the rates Of 1893, is
evidence of the prosperity of that man
ufacture. After much hesitation in 9TH
er branches, which may be justified,
this important department Of the wool
en- industry puts itself at the front, vlr-
tualIy declaring its ability to pace any
foreign competition. The purchases of
Australian wool at Boston have again
been large, 2,433,OOO pounds out of g.
170700 pounds of all wool at the three
chief markets against 8,821,300 pounds
for the same week last year. But other
markets are extremely quiet, and Bos-
ton is doing the selling at prices not
named. No gain appears in the cotton
manufacture, and the low price of cot
ton still binders 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
low.
The wheat market has deceived ev-
erybody, dropping in the face of an
enormous foreign demand just when
some advance might reasonably have
been anticipated. The western receipts,
6,SS2(425 bushels, against 2,964,621 last
year for the week, and for five weeks
33,962,529 bushels against 20,871, ASS last
year for the same weeks, are just now
more impressive in the market than the
Atlantic exports, which have been A.
1882 bushels, flour included, for the
week against 2,079, 457 last year, and for
five weeks 17617,471 bushels against g.
S17, 1853 for the same weeks last year.
But in the long run the outward
movement will affect prices, although
the surprisingly large increase at the
west indicates a considerably greater
yield than has been anticipated So the
enormous receipts Of cotton from PLAN
tations, exceeding those to date from
the great crop Of about 100000 bales
in 1894, tend to check all speculation, al
though both foreign and domestic de-
rnands for spinners have been material
ly restricted.
Failures for the week have been 800
in the United tSatas against 379 last
year, and % in Canada against IS last
year.