Omaha daily bee., 1898-01-08
BUSINESS STANDS UP WELL
Year Just Closed Makes Good Showing
on Failures,
eEWER THAN IN FIVE PRECEDING YEARS
dn over Half the Classified Lines the
Record Stnnds without nm
Equal since Reports
began.

NEW YORK, Jan. 7.--R. G. Dun G. Co.'S
Weekly Review OF Trade will say In its is
sue tomorrow:
In failures 1897 was not only the best year
since 1892, but on the whole the best ever
definitely known with 1S,522 failures, in
number ll5 per cent less than 1896. and
slS25Sl, al dcfaulted liabilities, "a per cent less
than In 1896. The years banking failures
were l1l and counted for sos 2l9.7G0, and the
commercial failures were but 1851. with lla-
bilities OF Sl5i. 1892 OIL the average per failure
being only N1.559 the lowest ever known
except IL 1892 But even In that year the
failures during the last half averaged liza
bilties OF Sl04II per failure while in the
Tho returns by branches of business show
that In fifteen out OF twenty-eight classes
the failures we're lower than in any previous
year Of which there l. record, with espe-
cialiy large decrease in the great number OF
unclasslfed manufacturing and trading fail
ures. Moreover, the year showed remark
able decreases. as some other prosperous
years have shown increases, comparing the
second with the first half,
for spectators In stocks and grain which
Is not bad sign. Prices of stocks have
gained little. after yielding at FIRST, and
and 81 % per share higher for trusts
Wheat declined 1A cents, owing to the
Termination of the corner at Cnicago, and
northwestern receipts were about double last
years, with Atlantic exports 2,S4O,3ls bushels.
flour Included, against 2,i5o9os last year. A
still I'm farmers hands 40 per cent of the
crop. which Is quite possible. but the con.
sumption and exports in half the year ought
supply. n fleet of vessels is reported at
Baltimore or on the way thltner for wheat.
Exports of corn for the week fell below
last years, although western receipts are
unusually large, and the price fell but $s of
a cent
Cotton was /. disappointment to many be-
cause 1t did not change at all in spot price,
although the accounts of reduction in wages
by NoT England works warrant hope OF
Ian 10 ftF fttF.g
a little encouraged by larger demand for
goods since the reduction in prices, and the
probably been due in large measure to oX-
peCtation OF that reduction But with the
certainty that the print cloth works are to
continue prices have further declined 2.l2
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 a month ago are
now rejoicing that recent raggedness in
prices has passed away. BEHIND all the
market reports there Is the fact that con-
sumption 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 satisfactory half year is expected
Prices far paid said to be from 20
to 30 per cent higher than a year ago, with
wool from 50 to 90 per cent higher
The iron, manufacturer has been further
encouraged by unusual business for the sea-
son, Including large building contract
made and others for bridges pending at
Chicago, a sale of $4,000 tons of pig to one
pipe foundry at the east and contract for
two vessels of 5000 tons each at Cramps
yards ard contracts for $500 tons hoop at
New York and 800 for Mexico Prices are
GENERALLY unchanged, though eastern works
have advanced structural beams cents to
s115 Pig is unchanged. with lairly large
sales. Visible supplies of tin are 29,S55 tons.
against 32,342 tons a year ago, with 1871
cents quoted, and with exports of O,305 tons
of copper in December and 123 O00 tons for
the year. II cents is now quoted for lake.
The coke output continues heavy and the
output of anthracite coal was 41,2t6,O00 tons
in 1897 though the consumption was about
9 500 900 tons smaller, and there are sales a.
1885 per ton higher.
Failures for the week have been 800 in
in Canada thirtytwo. against slXty-two last