The times. [volume] (Richmond, Va.) 1890-1903, 1898-01-01
THE IMPROVEMENT GENERAL
Conditions hOE Radically Different From
Those Of a Year lSO.
A MARKED DECREASE IN FAILURES.
The Total Liabilities Smaller Than in Any
Other Year Since Is92--Great Indus
tries Secure New Foreign Markets.
The Iron Industry Encouraged.

NEW YORK. Dec. SIR. G. Dun a
Co.'S Weekly Review Of Trade will say
In its issue tomorrow.
Failures for the year, which closed last
night, have been smaller I'm total liabilities
than r. any other year since 1892. I'm num-
Der smaller than IN any yea-. except IN
1895. and in average liabilities smaller
than in any year during the last twenty
three years, except four. The aggregate
OF all failures, commercial ana banking.
was $3.50, ,G00coo. OF which SIS 900 was In
barking. In 1880 commercial failures. the
amount o. liabilities was si54S 500 o00 ~
which $50 900 90 was in manufacturing and
S7g. 10000 in trading. with S2.10oooo IN
brokerage and other commercial lines.
Tho average OF liabilities per failure was
only Sl15S9. and I'm 1902 only Nl,O25, bnt
only three years in the past twerty-three
were rivals. 1855 with Sll5e5, l%6 with
81, ,65l, and 1855 with SHOTS.
MANY CHANGES.
a now year opens with conditions radi-
callv different from those which prevailed
a year ago. Great financial distrust OK
isted then. but has passed away atter
whole year OF entire freedom from money
disturbance or alarm. In which The coun-
try has paid hsavy foreign indebtedness,
taken and paid many millions for stocks
sent from abroad. and accumulated
credit against other countries represented
bv merchandise balances more than ss2o.-
nm on in its favor for the past hVe
months. with deferred exchanges for more
than 500 0o0 900 held by New York harks
alone while the great Industries nave
beer nushing their way into foreign mar
tets with unprocedented success. the mon
etarv situation IS no longer n1attor OF
anxiety More than half million moh
,n q few States. according 10 oihclal i'-
norts. are employed now who were idie
wear ago. and the general advance ~
v,oges for those employed has gone FAR
a. roetore tho rates prevailing before tho
nontc Tho volume Of business through
c,oarinc-houscs for the week ~ per con-
larger than in 1902. and I'm many industries
ard branches OF business. the laVrs
months OF this year have surpassed ah
records.
Tho iron Industry has been greatly en-
couraqed by increased demand during 'ho
mast few weeks and while the I'm lI"F'-
noiit I'm pig iron az Pittsburg mas oeeu
maintained Notwithstanding tho Creates
output ever known. tho new contracts
for finished iron products have been good
for tho season.
Minor metals have been rather weak
with tin at 1876 cents, and copper at 1913
I'M spite of large exports. while lead Is
quoted at 372h and spclter az $50. The
best Bessemer fun weight tin plates are
selling at S305 against $40 Tor foreign.
No change in prices OF coke appears.
though the shipments were the largest
for any week this year
The cotton industry is halted by tho
question OF wages, although n general
reduction now SENS probable. The man
ufacturcrs have been buying largely Of
material for wotsted goods and theiI
purchases have stimulated buying by
wool men so that the wool markets ara
stronger, though without changes in quo
tatOn1.
After the great excltment az Chicago,
wheat stll goes out OF the country as
largely as before Atlantic ports shipping
3.5707s3 bushels. -four Included, against
l.5i2ji0 last year. and from Pacific coast
ports G2j bushels, and IN four weeks
tho Atlantic exports. -four included. have
been 1j.Oj00E bushels against S50o.iGl last
year. Heavy Western receipts arc only
reaectlng temporary conditions IN tho
Chicago market But extraordinary ex-
ports Of corn. lif0i, 90j bushels against
9.iHGj3 bushels In the four weeks last
year show how sorely foreign markets
are pushed by the Increasing demand Tor
breldstuffs.
WHEAT DECLINED.
Wheat has declined SIS Of a cent. with
the Chicago market. and corn has mean
while advanced "a OF cent. The cotton
novemment continues remarkably heavy
and vet tho slight advance last weeh is
maintained. Tho movement 10 dato az
though more than seven million bale'. h.Ft
come into sight. scarcely supports '"e
largest current estimate
Follrros for the week have been Pr ir
tbe I-ritod states against i2o las' Fclr
ana q I'm Canada. against 80 last year