Iron County register., 1897-12-09
DUN.s coMMERclAL RgvIEw.

Encouraging Facts Cleaned From the
Months Failures-yyages of Thirty Thou
sand Workers Voluntarily Advanced to
the Highest Scale Ever Paid-Some
Branches of Trade Seasonably Quiet, but
All Indications Encouraging.
New YORK, Dec 4-R G. Dun s.
Co. s weekly review of trade says in its
issue of to-day:
The monthly report of failures shows
defaulted liabilities of l1,610, 195 in
November, against So, 700, $50 last year.
Because of three large failures for
s.. 25Q, 900, not due to present condi-
tions, the aggregate in November was
only 81, 100, 900 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 pay
ments have been remarkably good and
defaults unusually small.
Other evidences of the state of busi-
ness are convincing, except in specula-
tive lines. Wages have been voluntar-
lily advanced for nearly $4,000 workers
in woolens and iron.
Stocks are somewhat stronger, hav-
ing been advanced S1.47 for railways
and S1.57 for trusts. The true value of
American railway stocks IS steadily
rising with earnings.
It is the season for waiting In most
industrials, but at least one other fur
mace has gone into blast, and the low
est price of Bessemer at Pittsburgh,
after purchases of $4,000 tons, is $40. 10
per ton, with So. 25 for gray forge.
Eastern holders are some times i'm
patient, 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 east and at Pittsburgh, but
is really strong at Chicago for agricul-
tural and railway supplies. Struc-
tural orders are seasonably in abey
ance, but contracts for pipe for Lon
don elicit sharp bidding at Pittsburgh.
The voluntary advance of 20 per
cent. in wages of worsted workers at
Providence, restoring the rates of 1873,
is evidence of the prosperity of that
manufacture. After much hesitation
in order branches, which may be JUS
titled, this important department OF
the woolen industry puts itself at the
front, virtually declaring its ability to
face any foreign competition. The
purchases of Australian wool at Bos-
ton have again been large, 2, 49,, 900
pounds out of 6, 10000 pounds of all
wool at the three chief markets,
against S,S21, 800 pounds for the same
week last year.
But other markets are extremely
quiet and Boston is doing the selling
at prices not named. No gain appears
in the cotton manufacture and the low
price of cotton still hinders the buy
ing of goods. Lower prices than have
been known are quoted for print cloths,
and also for some grades of prints.
The wheat market has deceived every
body, dropping in the face of an enor-
nous foreign demand just when some
advance might reasonably have been
anticipated. The western receipts,
6,SS2, 425 bushels against 2,964,6 621 last
year for the week and for five weeks
80, 962, $40 bushels against 1924, 456
last year for the same weeks are just
now more impressive in the marlaet
than the Atlantic exports, which have
been 4, 49,, ,675 bushels, -four included, for
the week against 2,O79 ,457 last year, and
for five weeks II, ,617 Az bushels against
9,817, 153 for the 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. So the enor-
nous receipts of cotton from planta-
tions, exceeding those to date from the
great crop of about 10, 600, 900 bales in
1894, tend to check all speculation, al
though both foreign and domestic de-
mands for spinners have been mate
rally restricted.
Failures throughout the United
States for the week have been aO6
against S79 last year and % in Canada
against IS last year.