The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-04-10
FINANCE AND TRADE
As Reviewed By the Two Leading
Commercial Agencies.
SOME STATISTICS OF FAILURES.

Banking Failures Covered More Than
aFifih of the Total Amount Inv olved
in the First Quarter of the Year.
Southern Industry Checked.
New York, April 10.-R. G.. Dun g.
Co.'S weekly review of trade says: Out
Of 4006 failures, with liabilities Of $780,
762561 in the first quarter, "A banking
failures covered more than a fifth of
the amount, $12. $50, and S,345 fail
ures, with liabilities Of $3h,947S92, or
nearly three-fifths, are classified this
week according to branches Of busi-
ness, leaving only 587 failures and less
than q fifth of the liabilities, $12.060.019,
in branches of manufacture r. trade
not specified. Only of the 10 manu-
featuring classes and only of the IL
trading classes show liabilities for the
quarter larger than last year, and only
6 manufacturing and trading show
larger average liabilities. For the
month of March only 8 manufacturing
and trading classes show larger
amounts than last year, and only
manufacturing and s. trading show
larger average of liabilities. In almost
every case. also, 1t is shown that the
increase Is due to one or two ex-
ceptionally large failures in that class.
The returns compared with those OF
three previous years disclose much i'm
provement already and u bright pros
pect for more hereafter.
A sudden collapse in the wheat mar
ket, exceeding three cents in a day, ap-
pears to have no other cause than a
belated perception that past accepted
estimates of yield and consumption, Of
fetal and other, have been misleading.
Floods and unfavorable weather for
seeding have no weight. The expecta-
tion of great scarcity and high prices
burst like bubble, and for a time the
only support was the taking of profits
by spectators for fall. Facts have
not warranted hopes of great ad-
vance, nor do they now warrant much
expectation Of decline.
The demand for cotton goods does
not increase although sales of fair
magnitude continue, but print cloths
are dull. Speculation in wool has been
checked by the possibility that duties
may take effect April /, and some large
shipments from abroad have been
countermanded, while traders here are
less disposed to sell.
The iron industry Is hampered by
the contest between the Mesabi ore in
terests, which prevents as yet any set
tlement of ore prices. and leads many
to expect further decline in finished
products. Some furnaces have stopped
because the production of pig had out
run the demand for finished products,
and heavy stocks remained unsold.
Bradstreets' review says: The busi-
ness situation, as whole, shows no
gain. Staple lines are only fairly active,
Overflows, washouts and floods con-
tinue to do great damage in the Missis-
sippi and Missouri river valleys,
throughout a greater portion of which
general trade remains practically at a
standstill. Rainy weather, extending
from the central west to northwestern
spring wheat states, has rendered coun-
try roads almost impossible, with the
natural effect upon business. As the
region threatened includes the richest
portion of the cotton belt the prospect
for delay in planting second time in
dicates the possibility of heavy re-
ducton in acreage this year, whence
the advance in cotton this week.