The commonwealth. (Greenwood, Miss.) 1896-1923, 1897-04-15
|DuN.s COMMERCIAL REVIEW.

K0cOufo&1nS D60uctlOne YtOm the quar-
ter's Faiiures-The Sudden Collapse In
wheat-Receipts and Exports Of Wheat
and C~orn-sIlght Advance In Cotton
The Iron Industry Hampered-Lowest
Prices Ever Reached.
NEW YORK. April 10.-R. G. Dun e.
Co., in their weekly review Of trade to-
dav say:
Out of 1905 failures, with liabilities
OF $50. 752, SOL in the first quarter, "A
banking failures covered more than a
fifth OF the amount, ST., 744,65o, and
3.345 failures with liabilities Of $685.
947, 500. or nearly three-ffths. are clas-
sitied this week according to branch of
business, leaving only EST failures, and
less than a fifth Of the liabilities, $I2,-
060, 0l9, in branches OF manufacture or
trade not specified. Only two Of the
IL manufacturing classes and only.
four OF the IS trading classes
show liabilities for the quarter
larger than last year, and only
five manufacturing and three trading
show larger average liabilities. For
the month of March only three maj
featuring and four trading classes
show larger amounts than last year
and only two manufacturing and Ave
trading show a larger average of liza
bilities. In almost every case also, it
is shown that the increase is due to
one or two exceptionally large failures
in that class.
The returns compared with those of
three previous years disclose much inn
provement already, and a bright pros
pect for more hereafter.
A sudden collapse in the wheat mar
ket, exceeding three cents in a day, APP
pears to have no other cause than a
belated perception that past accepted
estimates of yield and consumption, |
official and other, have been mislead-
ing. Floods and other unfavorable
weather for seeding have no weight.
Expectation of great scarcity and
high prices burst like a bubble, and for
a time, the only support was the TAX
ing OF profits by spectators for
II fall. Receipts have not warranted
hopes of a great advantage, nor do
they now warrant much expectation
OF decline. Western receipts are
smaller than last year, and Atlantic
exports not large, though over go per
cent. larger than a year ago.
Corn receipts continue heavy. and
exports for the week were 3,323, 337
bushels, against Lac, no last year,
and against Atlantic exports Of wheat
amounting, flour included. to only L.
521,122 bushels, against 9e7, 553 last
year.
In spite of floods, which must have
materially affected the prospect, cot
has only advanced an eighth dur
ing the week. The-fate of those who
were absolutely certain that the crop
of 1896 was very short, has left but lit
tie confidence for further speculation.
Receipts thus far still indicate a sup
ply of American considerably greater
than has ever been consumed in one
but uncertainty about the COM
ing crop induces much buying.
The demand for cotton goods does
not increase, although sales of fair
ih"S hituuS SoAtIuuC, Ouu plluC ClOGlS |
are dull.
The iron industry is hampered by the
between Mesaba ore interests.
which prevents, as yet, any settlement
IF ore prices and leads many to sus-
oect further decline in finished prod
lcts. The Illinois steel works, the
lake Erie works at Cleveland and
works of Oliver & Co. and
Byers 4 CO., at Pittsburgh, are
stopped by labor difficulties and some
furnaces have stopped because the
product of the pig had outrun the de-
nand for finished products and heavy
'tocks remained unsold. Bessemer, at
Pittsburgh, for pig brings only $40, and
ray forge, only IS. rs, the lowest on
ecord. but no quotable decline is seen
n finished products and nails are