The star. (Reynoldsville, Pa.) 1892-1946, 1898-04-06
TRADE REVIEW.
Business Continues Brisk and Is Not Affected
BY War Rumors

r. q. Dunn e. Co.'S weekly review Of
trade reports as follows:
In spite of foreign conditions since
the destruction of the Maine February
Is. failures in three months are smaller
than in the first quarter of any year
since 1886; the ratio of defaulted liabil-
tiles to payments through clearing
houses has been the smallest for that
quarter since 1881; the average of la
bilitles per firm In business has been
the smallest since 1880, and the average
of liabilities per failure has been lower
than ever before in any quarter. 1t Is
especially significant that the failures
for less than 100000 without material
decrease in number, were 29 per cent
smaller than last year in manufactur-
ing, and "a per cent smaller In trading.
The war cloud, which, many have In
ferred, must have greatly increased
commercial disasters does not appear
to have any such effect as yet, and
while there Is some decline in the new
orders for industries, nearly all live
works are covered so far ahead that
the difference Is not felt. Rates for
money have advanced, and the per
cent which used to be the ruling rate
In active times, again prevails which
compes many spectators to liquidate.
But the imports of gold 20 far to pre-
though part OF the hypothecated ex-
change on Europe has been sold and
ordered, against 1t there is known to
be about sS0.000.000 more yet In the
banks at New York and si2,500,0o0 In
other cities, against which gold Is
liable to be imported because there is
small prospect of any better settle
ment.
The outgo of breadstuffs continue,
Atlantic exports being 2,5l6.220 bushels.
flour included, for the week, against
2,1S5,37S last year and Pacific exports,
542,147 bushels. against 1890 last year.
and for the past five weeks from both
coasts the exports have been 16,592,917
bushels against S,226,256 last year.
Meanwhile corn exports have been for
the week, 37G7,029 bushels. against A.
POI ,621 last year. All the speculative
movements at the West have been less
influential than this heavy and con-
tinued buying of grain and western re-
ceipts begin to fall off as II supplies
were no longer unlimited. Wheat has
declined slightly. but corn has advance
imagines that foreign troubles can
check the outgo.
The iron and steel market shows no
decrease, for with works fully em-
ployed and some additional works put
into operation government purposes,
pig is not lower anywhere, ana at
Pittsburg a shade higher for Bessemer
because of agreement by valley pro-
ducers, while without agreement of
Mesaba mines the purchases of ore at
Cleveland were over n million tons for
the week. Billets are still scarce and
sheet bars In demand, though wire rods
are lower, and wire nails are weaker
In spite of the imperfect combination
of makers. Other prices for manufac-
tured products are unchanged, al
though rails are a shade stronger with
Russian order pending for $4,000 tons
to complete the Pacific railway, and
plates are in very heavy demand. 5000
tons for cars and 1000 tons for other
use at Pittsburg, with 10000 tons more
originating at Chicago, and structural
orders cover 4,2OO tons for buildings at
the East with 1000 more at Pittsburg,
and many at Chicago.
Failures for the week have been 220
In the United States against 260 last
year, and 27 In Canada against AZ last
year.