The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1897-12-04
FINANCE AND TRADE
Monthly Report Of Failures Makes
the Outlook Encouraging.
VOLUNTARY ADVANCES IN WAGES

In Iron and Woolen Manufactures
Makes the Outlook For Christmas
Brighter For Thirty Thousand Work.
ers-The Drop I'm Wheat a Surprise.
New York. Dec. Ar. G. Dun & Co. IS
weekly review of trade says: The
monthly report Of failures shows de-
faulted liabilities Of Sl1 .6iO, 1856 in No
vember, against $t2,7OO.856 for the cor
responding month last year. Despite
three large failures for S3,25OOOO, not
due to present conditions. the aggre-
gate in November was 81 O5O 900 less
than last year, and except for these
would have been smaller than in Au-
gust, September or October The de-
crease in nearly all branches of busi-
ness shows that payments have been
remarkably good ana defaults unusu-
ally small. other evidences Of the state
Of business are convincing, except i'm
speculative lines. Wages have been
voluntarily advanced for nearly 10000
workers in woolens and iron. Stocks
are somewhat stronger, having ad-
vanced S1.47 for railways and S1.57 for
trusts. The true value of American
railway stocks is steady, rising with
earnings, which for November thus far
are 2O.9 per cent larger than last year
and 81 per cent larger than 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 S1O15
per ton, with $9.25 for grey forge.
Eastern holders are sometimes impa-
tient, and yet sure that January will
bring a large demand, and meanwhile
the award of ship plate contracts to
eastern firms gives them important
help, though the demand for bars is
slow at the east and at Pittsburg, but
is really strong at Chicago for agrl-
cultural and railway supplies.
The voluntary advance of 20 per cent
in wages of worsted workers at ProV-
dence restoring the rates of 1898, is
evidence Of the prosperity Of that man
ufacture. After much hesitation in
other branches, which may be justified
this important department of the
woolen industry puts itself at the front,
virtually declaring its ability to face
any foreign competition.
The low price of cotton still hinders
the buying of goods. Lower prices than
print cloths, and also for some grades
of prints and the average of cotton
goods is remarkably low.
The wheat market has deceived
everybody, dropping in the face of an
enormous foreign demand just when
an advance might reasonably have
been anticipated. The western receipts
of 6,SS2, ,425 bushels, against 1884 ,621 last
year, for the week, and for five weeks
33962, 529 bushels against 2O,S71, ASS last
year for the same weeks, are just now
more impressive in the market than
the Atlantic exports, which have been
4,1S7,472 bushels, flour included, for the
week, against 2,O79,457 last year, and
for five weeks 1857 Al bushels, against
9,817 1853 for the same weeks last year.
But in the long run the outward move
ment will affect prices, although the
SUI prisingly large increase at the west
indicates a considerably greater yield
than has been anticipated.
Bradstreets review says: General
| trade throughout the country has pre-
| sented rather more animation, owing
to colder weather and the approaching
! holidays. While clothing, dry goods
! hats, shoes, notions, hardware and
/ fancy groceries have been i'm a little
better demand, both from jobbers and
at retail in the region tributary to
Chicago, 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
further depression in cotton goods,
print cloths having made a new low
record in price.