The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-01-08
BUSINESS REVIEW OF 1897
In Failures, Dun Says, It Was the
Best Year Ever Known.
HIS PROOF PUT IN FIGURES
Financial Standing of the Several En-
terprises of Commerce and the
Movement of Cereals and
Manufactured Goods.

New York, Jan. 1.--R. G. Dun & Co.
Weekly Review of Trade viii say to-
morrow. In failures. 1897 was not only
the best year since 1892. but on the
whole the best ever definitely known.
With 1882 failures in number. Ito per
cent less than 1896. and 1S2,5Sl.I71 de-
faulted liabilities. 3f.6 per cent less than
in 1896, the years banking failures
counted for s2S, 249 ZOO and the CONNER
cial failures were but 1851. with La
bilities OF 54,332.071. the average per
failure being only sIi,55e. the lowest
ever known except in 1892. But. even
in that year the failures during the
last half averaged $Io,477 per failure,
while in the last half of 1897 the aver
age was only $9.5a3. The returns by
branches of business show that in ID
out of Is classes. the failures were lower
than in any previous year of which
there is record. with an especially large
decrease in the great number Of un-
classified manufacturing and trading
Failures.
The new year began with disappoint-
ment for spectators in stocks and
grain, which is not a bad sign. Prices
of stocks have gained a little, wheat
declined 1as cents. owing to the corner
at Chicago, and Northwestern receipts
were about double last years with At
lantic exports 2,S40.3lS bushels. flour
ancluded. against 2.i50,099 last year. A
speculative quantity is still in the farm
er's hands, 40 per cent, which is quite
positive, but consumption and exports
in half the year ought 10 take more
than 40 per cent of the years supply
Exports of corn for the week fell below
last years. although Western receipts
are unusually large. and the price fell
but three eighths of a cent.
Cotton manufacture is a little en-
couraged by larger demand for goods
since the reduction in prices. But with
the certainty that the print cloth works
are to continue prices have declined
further to 2.12 cents.
The wooden and worsted mills are
both busy with large orders, with prices
close to the best, for reports which de-
clared there were no concessions a
month ago are now rejoicing that the
recent raggedness in prices has passed
away. Behind all the market reports
there is the fact that consumption of
wool has for about six months been in
constant demand. which indicates as
does the demand for such heavyweight
goods as has been opened, that salts
factory half year is expected. Prices
SO far paid are said to be from 20 to 80
per cent higher than year ago, with
wool from 30 to 30 per cent. higher, but
the buying Is thus far encouraged by
unusual business for the season.
Iron manufacture is encouraged by
unusual business for the season, inciud-
ing a large building contract made and
others for bridges pending at Chicago,
a sale of $4,000 tons pig to one pipe
foundry at the East, and the contracts
for two vessels of 5000 tons each at
Cramps yards, and contracts for $500
tons hoop at New York. the 400 for
Mexico. The prices are generally un-
changed, though Eastern works have
advanced structural beams cents to
$1.15. Pig is unchanged with fairly large
sales.
The visible supply of tin is %, sS5 tons.
against 32.342 year ago, with 1871 cents
quoted. and with exports OF 10, sos tons
of copper in December and $4,000 tons
for the year. Eleven cents lis now quot
ed for Lake. Failures for the week
have been 322 in the United States
against All last year and in Canada 50
against 81 last year