The Cape Girardeau Democrat., 1897-06-12
DUNs COMMERCIAL REPORT.


Shows a Much More Satisfactory State
of Business Soundness Than Is Generally
Thought to Exist in the Country.
New YORK, June 5.--R. G. Dun &
Co.'S weekly review of trade, issued to-
day, says:
The statement of failures in Nay by
branches of business gives mucn en-
couragement. In amount of defaulted
liabilities the month was the smallest
since September. 1895; in manufacture
ing liabilities the smallest since No
vember, 1895, and in trading liabili-
ties, the smallest since September, ex-
cept the last month, since 1894. Fail
ures of general stores have not been as
Small in any month as May, 1897.
In only two months out Of So
have there been smaller failures
in books and hats, only five
in groceries and not one trading class
in that month has reported failures
larger than in the half the preceding
months, though in furniture. failures
are rather numerous. In clothing
manufacture the failures were few, be-
ing less than all but four months out of
thirty-siX; less than but five in chemi
Gals six in woolen goods, seven in
machinery, lumber and miscellaneous
manufactures, and exceeded the average
only iniron and cotton goods and earth
enware, owing to few failures of
exceptional size.
Nobody can mistake the meaning of
such returns.
The statement that, except for the
temporary depression in prices, the
volume of business transacted is now
larger than it was in 1892, the year of
greatest prosperity, has been ques-
toned by some. But comparison OF
prices this week in the leading
branches of manufacture not only con-
firms the view, but shows a re-
markable similarity to the course of
prices in the earlier months of 1879,
when the most wonderful advance in
production and prices ever known
in this or any other country
was close at hand. The key OF
the situation is the excessive
production of some goods in advance
of an expected increase in demand. So,
in 1879, consumption gradually gained,
month by month, until suddenly is was
found that the demand was greater
than the possible supply. All know
how prices then advanced and the
most marvellous progress in the history
of any country resulted within tive
years. Reports from all parts of the
country now show that retail distribu-
- .+e - To, -
increasing. There is no improvement
in the market for farm products.
Cotton is not higher; and the
belief that the next crop will be large
in spite of the floods, is general, while
the demand for goods does not change,
although in this country it is large
enough to keep the market for most
goods steady. Nor is there any salts
factory demand for wooden goods, and
the sales of wool for the week have
been only $685., 300 pounds and for five
weeks "a, Gal, 400, against 26,SO0, $50 in
the corresponding weeks of 1892. The
transactions greatly exceed the de-
mand of the mills, although these are
larger of late, because manufacturers
of woolen goods have steadily increas-
ing orders.
The iron industry is apparently ex.
panding production, and is certainly
getting larger contracts, in part be-
cause of very low prices, one cent be-
ing made for beams. Bessemer pig is
stronger, and gray forge a shade
weaker under pressure of southern
anxiety to SELL The rail mills are all
full, the Illinois Steel Co. having
orders for a railway and bridges
in Corea; and there is better de.
mand for plates and sheets, and
from makers of agricultural imple-
ments at Chicago for bars. Shipments
of iron ore from Duluth far exceed
those of any previous year, both the
Minnesota Iron Company and the Car
negie mines shipping over 100000 tons
each week. While the rod combina-
tion has not yet been formed, expec.
tation of it with a large demand ha.
| advanced prices of nails five cent per
keg.
Tin is very firm in spite of visible
supply of 81, J36 tons at S13. 50 and there
are large dealings in copper not above
II cents for lake. Lead is in fair de-
mand at S3.2a and tin plates are still
| selling at $3.50 for full weight Ameri-
can.
Crop prospects are so good that the
rumors customary at this season receive
no attention. 1t was stated a week
ago that along the northwestern roads
prospects were remarkably bright, and
highly favorable reports have since
, appeared from Kansas and from Texas
Failures for the week have been 2il
in the United States, against 234 last
year, ana 80 in Canada against 80 last
year.