The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-11-06
STRONG PROOF OF
BUSINESS STABILIT y
But Few Failures Occurred During
the Past Week AN Increase in All
Trades.

Trades.
New York, Nov. 5.-R. G. Dun & Co. S
Weekly Review of Trade will say to-
morrow;
Stronger proof of the great change
in the condition of business could not
be given than Is found in the detailed
report of failures by branches of busi-
ness for the month of October. Though
swelled by a few large speculative or
brokerage failures, the aggregate was
smaller than in any other month for
more than four years, except in July
and August, and one month in 1894.
The manufacturing and trading fall
ureS, $7S23199, against S,S3O,S11 in
September. and S7,760,8 835, in August,
include one for $1,000,000 having no
relation to the present state of busi-
ness. During the four years iron
manufacturing failures have not been
smaller except in one month; wool
manufacturing except in two months;
leather and shoes and unclassified
manufacturing excepting in four
months, and cotton manufacturing eX-
cept in six months. OF trading classes,
failures have never been smaller in
groceries, jewelry and books except in
one month, in clothing, furniture and
unclassified trading except in two
months, and ten manufacturing and
eleven trading classes out of fourteen
each have never reported smaller fall
ures in a third of the past forty-eight
months Improvement so general, with
remarkably low average of liabil-
tiles in most classes, has a meaning
which cannot be mistaken.
The quiet following the great rush Of
orders and purchases for over two
months is still increased in many
branches by unseasonably mild wealth
er. and yet the mills are obliged to
refuse many orders, being unable to
finish previous engagements soon
enough 1t is every way fortunate for
the industries and the would-be buy
ers, since speculative purchases would
otherwise advance prices so fast as to
| make reaction probable. More works
have Joined the active list including
some long idle, and the production in
| iron manufacturing is the greatest ever
| known. The output of pig again ex-
| ceeds the demand, which naturally
| dminishes near the close of the year
and prices yield slightly. but the con-
| sumption is kept at the maximum by
| pressure of orders which the works are
not abe to fill fast enough. The Illi-
nois Steel company, shipping 5000
tons of finished products per day, is
behind. Eastern and western orders
accumulate for railway materials. foi
| cars and bars, for ship plates anG
| structural forms.
| Another rise in wheat lifted the price
above 81, but profit taking speedily
| caused reaction, and the price closed
| 2l2c. lower for the week. Receipts
were about a million bushels larger
than last year, and Atlantic exports
| -four included, were 3,2S7 ,536 bushels
against 1,S62,53S last year. Exports ir
October, as in September, were heav
| ier than in any preceding month, and
after gloomy reports of the condition
Of winter wheat extensive rains have
caused material improvement. Corr
has grown stronger in spite of the
| course Of wheat, and authorities mucl
| credited estimate the yield as 1928
C0u000 bushels, which would hardly
permit continuance of heavy exports il
llace of wheat through the year.
Cotton has not lifted above six cents
and the accumulation and declining
prices of goods, with the somewha
increased prospect of extensive stop
page of English mills causes less spec
ulation than usual.
Failures for the week have been %
in the United States, against 23O las
year, and 80 in Canada, against SO las
year.
BRADSTREET'S VIEWS.
New York, Nov 5.-Bradstreet's to
morrow will say:
Killing frOsts south, the raising O
quarantine embargoes at nearly a,
points in states invaded by yeloN
fever, the resumption of traffic and
prospective revival in demand 70
staple merchandise constitute the trad
features of the week.
Rains in central-western and west
ern states, followed by colder wealth
er, have favored farmers and stmu
lated demand from interior storekeeI
ers. Larger eastern cities report n
! increase in the general merchands
movement New England centers re
port that orders from the West excee
; those from the South or East Lead
. ing manufacturing industries continu
} fairly well employed. While there ha
been a moderate reaction in iron an
steel, furnaces and mills continue we
p employed, and the outlook for highC
l | quotations next year is unchanged.
= There are 223 business failures r.
) ported throughout the United Stat,
1 this week. compared with 21S last wee
! and 22S in the week year ago.