The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-12-04
FINANCE And TRADE.
Monthly Report of Failures Makes
the Outlook Encouraging.
VOLUNTARY ADVANCES IN WAGES

In Iron and Wooden Manufactures
Makes the Outlook For Christmas
Brighter For Thirty Thousand w ork.
ers-The. Drop in Wheat a Surprise,
New York, Dec. 4.-R. G. Dun G Co.'S
weekly review of trade says: The
monthly report of failures shows de.
faulted liabilities of SLIGO. 1876 in No
vember, against $12, 700S56 for the cor
responding month last year. Despite
three large failures for s3,250,00O, not
due to present conditions, the aggre-
gate in November was 81, 1,050,0 900 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 and defaults unusu-
ally small. Other evidences of the state
OF business are convincing, except in
speculative lines. Wages have been
voluntarily advanced for nearly 80 1000
workers in woolens and iron. Stocks
are somewhat stronger, having ad-
vanccd $1.47 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,
!, oP i,
per ton, with $925 for grey forge.
Eastern holders are sometimes impa-
tlent. 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 cast and at Pittsburg, but
Is really strong at Chicago for agri-
cultural and railway supplies.
The voluntary advance of 20 per cent
in wages of worsted workers at Provi-
dence, restoring the rates of 1893, 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 it's ability to face
any foreign competition.uw,
The low price of cotton still hindcrs
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
everybody, dropping in the face of all
enormous foreign demand just when
an advance might reasonably have
been anticipated. The western receipts
of 6,S22,125 bushels, against 2,96t,621 last
year for the week, and for five weeks
SO @62, 52S bushels. against 20, ST., 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.O7s.457 last year, and
for FIVE weeks T617,471 bushels against
9817,153 faAathe same weeks last year.
But in the long run the outward move-
ment will affect prices, although the
surprisingly large increase at the west
Indicates considerably greater yield
than has been anticipated.
Brudstreets' review says: General
trade throughout the country has pre-
scnted rather more animation, owing
to colder weather and the approaching
holidays. While clothing, dry goods,
hats, shoes, notions, hardware and
.ancy groceries have been in little
better demand, both from jobbers and
1t retail in the region tributary to
Chicago, ST. Louis, Omaha, st. Joseph,
st. Paul and Kansas City, the tendency
If business has been to slacken. This
s noticeable in iron and steel and in
urther depression in cotton goods, |
print cloths having made new low |
ecord in price.