The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-04
FAILURES BECOMING FEWER.
PAYMENTS IN ALL LINES OF BUsI-
NESS REMARKABLY GOOD.

The state of Business Plainly Inn
proving Except in Speculative
Lines - stocks in Corporations
Somewhat Higher Than a Week
AgO-The Prosperity of the WOODEN
Industry Evidenced by the VOIun-
tnry Advance Made in the Wages
of Employees.
New York, Dec. 3.-R. g. Dun & Co.'S
Weekly Review of Trade tomorrow will
say: THE monthly report of failures
shows defauted liabilities of 81 ,61O195 in
November, against $12.7OOS56 last year.
Because of three large failures for $685.
900 not due to present conditions, the
amount for November was only 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
payments have been remarkably good and
defaults unusually small. Other evidences
of the state of business are convincing ex-
cept in speculative lines. Wages have
been voluntarily advanced for nearly 3d.
900 workers in wooden and iron.
advanced $1.47 for railways and $1.57 for
trusts. The true value of the American
railway stocks is steadily rising with
earnings, which for November thus far
are 209 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 furnace
has gone into blast and the lowest price
of Bessemer at Pittsburg after purchases
of 10000 tonsis $1O.15 per ton, with 1925 for
grey forge. Eastern holders are sometimes
impatient and yet surely January will
bring large demand, and meanwhile, the
award of ship plate contracts to eastern
firms gives them important help, though
the demand for the bars is slow at the
east and at Pittsburg, but is really strong
at Chicago for agricultural and railroad
supplies. Structural orders are seasonably
in allegiance, but contracts for pipes for
London elicit sharp bidding at Pittsburg.
THE voluntary advance of 20 per cent.
In wages of worsted workers at Provi-
dence, restoring the rates of 1898, is evil
dence of the prosperity of that manufac-
ture. After much hesitation in other
branches, which may be justified, an inn
portant department of the wooden indus
try puts itself in the front, virtually de-
claring it's inability to face any of the
foreign competition. The purchases of
Australian wool at Boston have again
been large, 2,435OO0 pounds out of 6.170700
pounds of wool at the three chief markets
against S,S2l,3 300 pounds for the same week
last year. But other markets are eX-
tremely quiet. Boston is doing the selling
at prices not named.
mo gain appears in the cotton manu-
facture, and the low price of cotton still
hnders the buying of goods. Lower
prices than have ever before 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 every
body, dropping i'm the face of an enormous
foreign demand just when some advance
might reasonably have been anticipated.
I'm the long run, the outward movement
of grain will affect prices. although the
surprisingly large increase at the west
indicates a reasonably greater yield than
has been anticipated. So the enormous
receipts of cotton from plantations, ex-
ceeding those to date of the great crop,
of about 300 900 bales in 1894, tend to check
all speculat tons, although both foreign and
domestic demands for spinners have been
materially larger.
"Failures for the week in the United
States have been S06, against 326 last year."