The star. (Reynoldsville, Pa.) 1892-1946, 1898-01-12
TRADE REVIEW.
Decrease Of Failures During 1897 as Com.
pared with Previous Years


n. q. Dun a. Co.'S weekly review of
trade for last week reports as follows:
In failures 1897 was not only the best
year since 1892. but on the whole the
best ever definitely known. With 49,
b22 Failures, In number 11.5 per cent
less than 1896 and sis2, ,5s1 al defau ted
liabilities, "a per cent. less than In 1896.
the years banking failures counted ior
S2S.2f9,1OO and the commercial failures
were but 1851, with liabilities of $751;
S32.0Il, the average per failure being
only sii.J59. the lowest ever known cx-
cept In 1892 But even In that year the
failures during the last half averaged
Liabilities of sfO.447 per failure. while In
the last half Of 1897 the average WAS
only $g5g3
The returns by branches OF business
show that In fifteen out of twenty
eight classes the failures were lower
than In any previous year Of which
there Is record. with especially large
decrease In the great number Of un-
classified manufacturing and trading
failures, Moreover the year showed
remarkable decrease. M some other
prosperous years have shown. In com
pairing the second with the FIRST half.
Wheat declined i% cents. owing to
the termination OF the corner at Chi
cago, and western receipts were about
ports 2,%0}iS bushels. Hour included.
against 2. 2.ij0.90g bushels last year. Ex-
ports of corn for the week fell below
last years. although western receipts
are unusually large. and the price fell
but X OF a cent. Cotton was disap-
pointment to many because II did not
change ut allsin spot price, although
the accounts of reduction Ia wages by
New England works warrant hope Of
larger consumption.
Cotton manufacture IL little en-
couraged by larger demand for goods
since the reduction In prices, and the
abstentiOn OF buyers for months past
has probably been due In large meas
ure to expectation OF that reduction.
Behind all the market reports there In
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 has been opened. that
n satisfactory half year In expected.
Prices so far paid are said to be from
20 to 30 per cent. higher than r. year
ago, with wool from 30 to 20 per cent.
higher. but the buying is thus far en-
couraging. The iron manufacturer has
been further encouraged by unusual
business for the season, including a
large building contract made and 9TH
sale OF 10000 tons of pig to one pipe
foundry at the East, and contracts for
two vessels OF 5000 each at Cramps
yards. and contracts for 5000 tons hoop
at New York. the 800 for Mexico.
Prices are generally unchanged.
though eastern works have advanced
structural beams s cents to $1.15. Pig
is unchanged, with fairly large sales.
Visible supplies OF tin are 2s,S55 tons,
"A M
cents quoted. and with exports Of TO-
305 tons OF copper in December and i2S,-
900 tons for the year. II cents is now
quoted for lake.
The coke output continues heavy. and
the output OF anthracite was n.205. 900
tons In 1897. though the consumption
was about 100000 tons smaller, and
there are sales at $685. per ton higher.
Failures for the week have been 322
In the United states. against AL last
year. and in Canada S2. against G2 last
year.