The record-union., 1897-12-04
The Season for Waiting in Most of
the Industries.
Market Strong at Chicago for Railway and
Agricultural Supplies.
The Voluntary Advance in Wages
of Worsted Workers at Provi-
dence an Evidence of the Pros
perity in That Manufacture.

NEW YORK, Dec. 3.-R. G. Dun &
Cos Weekly Review of Trade" to-
morrow will say:
The monthly report of failures
showed defaulted liabilities of S11, ,610.-
125 in November. against So. 700, ,S56
last year Because of three large fail
ures for SO, 250, 900 not due to present
conditions. the aggregate 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 business shows that pay
ments have been remarkably good, and
defaults usually small.
Other evidences of the state of buSi-
ness are convincing except in speeula-
tive lines. Wages have been advanced
for nearly 10000 workmen in woolens
and iron. Stocks are somewhat strong
er, having advanced 81 AZ for railways
and 81 81 for trusts. The true value
of American railway stock is steadily
rising with earnings, which for No
vember thus far are 20.9 per cent.
larger than last year and 81 per cent.
in the same weeks of 1892.
1t is the season for waiting in most
industries, but at least one other fur
mace has gone into blast and the low
est price of Bessemer at Pittsburg, after
purchases of 10000 tons, is $40 10 per
ton with SO 25 for gray forge Eastern
holders are sometimes impatient, but
yet sure that January will bring a
large demand, and meanwhile the
award Of ship-plate contracts to East
ern firms gives them important help,
though the demand for bars is slow at
the East and at Pittsburg, but is re-
ally strong at Chicago for agricultural
and railway supplies.
Structural orders are seasonably in
allegiance, but contracts for pipe for
London elicit sharp bidding at Pitts
burg.
The voluntary advance of 20 per cent
in wages in worsted workers at Prov
idence, restoring the rates of 1893, is
evidence Of the prosperity of that man
ufacture. After much hesitation in
other branches which may be justi-
fed, this important department of the
woolen industry puts itself at the front,
virtually declaring its ability to face
any foreign competition.
The purchases of Australian wool at
Boston have again been large, 2435, -
600 pounds out of 6,11O,700 pounds of
all at the three chief markets, against
S,S21, 600 pounds for the same week last
year But other markets are extreme
ly quiet and Boston is doing the SELL
ing at prices not named.
The wheat market has deceived
everybody. dropping in the face of an
enormous foreign demand, just when
some advance might reasonably have
been anticipated. The Western re-
ceipts. 6,SS2, 425 bushels, against 2964,-
6lO last year for the week, and for five
weeks 1885,. 529 bushels, against 90
Stl.4 .436 last year for the same weeks,
are just now more impressive in the
market than the Atlantic exports,
which have been 4, ISL, ,672 bushels
tffour included) for the week, against
2019,45I last year. and for five weeks
1I,61I,4l1 bushels. against 9,S17 153
same week last year But in the long
run the outward movement will affect
prices. although the surprisingly large
increase at the West indicates a con-
siderably larger yield than has been
anticipated.
Failures for the week have been 306
in the United States. against 379 last
year, and twenty eight in Canada,
against fiftyfve last year
NEW YORK. Dec. 3.-Bradstreets'
tomorrow will say:
General trade throughout the week
has presented more animation, owing
to colder weather and the approaching
holidays. While clothing, dry goods,
hats, shoes and notions, hardware and
fancy groceries have been in a little
better demand from both jobbers and
retailers in the region tributary to Chi
cago, st. Louis, Omaha, St. Joseph. st.
Paul and Kansas City, the tendency Of
business has been TO slacken. This is
noticeable in iron and steel, and in a
further depression in cotton goods,
print cloths having made a new record
in price.
On the Pacific Coast the feature of
business is a we'll maintained export
business from nearly all ports. The
lower price for print cloths is followed
by a sharp reaction In wheat and a
lower price for Indian corn. Oats are
slightly higher. and coffee has ad-
vanca6. in addition to which there re-
mains s. long list of the staples, prices
OF which are unchanged.
The domestic grain business begins to
look with equanimity with unprece-
IDENTIFY large quantities of wheat ex-
ported from both coasts week after
week. the continuation of which is evil
dence of appreciation of the relation
OF supply TO demand by the grain trade
abroad.
The total export of wheat (four in
cluded as wheat) from both coasts of
the tJnis hG Mon trpa
this week aggregate 6,699. $50 bushels
100000 bushels larger than last week,
and within 275.o 900 bushels of the larg-
est weeks exports on record. They