The daily morning journal and courier., 1898-01-08
WEEKLY REVIEW OF TRADE
LAST YEAR 4 RECORD RREAKER AS
 TO FAILURES.

Not Only the Best Since 1899 but on the
 Whole the Best Ever Definitely Known The Statistics-Cornera at Chicago Caused
 Wheat to Decline-Cotton Manufacturers
 Little Encouraged,
 New York, Jan. 7.-R. G. Dun & Go, in their weekly review of trade will say: In failures 1897 was not only the best year since 1892, but on the whole the best ever definitely known. With 13,522 failures, in number 11.5 per cent. less than 1896, and s1S2 I'll defaulted liabilities, $40 per cent. less than in 1896, the years failures were but 1S,S51, with liabilities of $154,332,071, the aver age per failure being only $11,559, the lowest ever known except in 1892. The returns by branches of business show that in 15 out of 28 classes the failures were lower than in any previous year of which there is record, with especially large decrease in the great number of unclassified manufacturing and trading failures. Moreover the year showed re- markabIe decrease, as some other pros porous years have shown increase, com pairing the second with the first half.
 Wheat declined 1A cents, owing to the termination of the corner at Chicago, and western receipts were about double last years. with Atlantic exports D. 84O,318 bushels, flour included, against 2.15o,9O9 last year. A speculative esti- mate makes the quantity still in farm CTS hands 40 per cent. Of the crop, which is quite possible, but the con- sumption and exports in half the year ought to take more than 40 per cent. of the years supply. A, fleet of vessels is reported at Baltimore or on the way thither for wheat. Exports of corn for the week fell below last years, although western receipts are unusually large, and the price fell but $ of a cent. Cot ton was disappointment to many be- cause 1t did not change at all in spot price, although the accounts of reduc- tion in wages by New England works warrant hope of larger consumption.
 The cotton manufact cture is little en- outraged by larger demand for goods since the reduction in prices, and the abstention of buyers for months past has probably been due in large measure to expectation of that reduction, but with the certainty that the print cloth works are to continue. prices have fur ther declined to PIP cents. The woolen and Worsted mills are both buying wool quite largely at prices probably close to the best, for reports which declared there were no concessions month ago are now rejoicing that recent ragged ness in prices has passed away. Be hind all the market reports there is the fact that consumption of wool has for about five months been the largest ever known, and the buying indicates, as does the demand for such heavy weight goods as have been opened, that sat isfactory half year is expected. Prices so far paid are said to be from 20 to 30 per cent. higher than a year ago, with wool from 50 to 90 per cent higher, but the buying is thus far encourag- ing.
 The iron manufacture has been fur ther encouraged by unusual business for the season, including a large building contract made and others for bridges pending at Chicago, sale of 5000O tons pig to one pipe foundry at the east, and contracts for two vessels of 5000 each at Cramps yards, and contracts for $500 tons hoops at New York, and 800 for Mexico. Prices are generally un- changed. Visible supplies of tin are 29,s55 tons against 32,S42 year ago, with 13.7 cents quoted, and with ex- ports of 10,3O5 tons of copper in Decem- Der, and 123,0OO tons for the year, Il cents is now quoted for lake. Ship ments of boots and shoes continue larg- CT than in any previous year, showing consumption far beyond expectations of dealers, but jobbers are generally withholding orders for the future at the advanced prices asked, which range from 21s cents per pair higher on bro gans to $3.50 per dozen on boots, and as most orders have been filled the works have little ahead.
 Failures for the week have been 322 in the United States against All last year and in Canada 32 against 62 last year.