The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-10-01
BUSINESS IS
SATISFACTORY
STATE OF TRADE THE MOST EN-
CoURAGING IN YEARS.
All Changes Are for the Better with
the Exception Of Cotton-Trade Is
Brisk, More SO Than at Any other
Time Since 1se2-Pig Iron Firm.

\ New York, Sept. 3o.--R. G. Dun &
Co.. in their weekly review of trade,
Will say:
Failures in September have been
atbout Sc, 700 900, and for the quarter
about s22,s75.O00. No report covering
the exact month or quarter Is possible
this week for a journal which must go
to press on Friday. the 30th, but the
returns indicate a smaller aggregate of
failures than in any other month in
many years except in August of this
year, and smaller for the quarter than
any other quarter since 1892. In fact,
excepting one-quarter in that year, no
other appears to have shown a smaller
aggregate unless more than ten years
ago. when the volume of solvent busi-
ness was very much smaller than 1t is
now. Evidently the complete returns
to be given next week will show that
the state of business is in that respect
more satisfactory than it has ever been
unless in one quarter of 1892.
Changes are all for the better ex-
ceptine the fall of cotton to the lowest
point for so years, and even the lowest
prices of 1913. considering differences
than prices this week.
If there were not on hand CONNER
cial and mill stocks unusually large, or
II manufacturing were more success
ful. early recovery might seem prob
able but the heavy fall in material has
affected the demand for goods, caus-
ing buyers to except still lower prices
for them, although after the decline
last week goods now average lower
than ever before. While the stagna-
tlon in wool continues, even smaller
than in the month of panic year, 1898,
numerous mills have started tempor-
arily In order to get out sample pieces.
There has been no quotable decline in
wool, and scarcely any in goods, the
recent reduction having stimulated a
larger demand.
PIG IRON FIRM.
With pig iron firm everywhere, in
spite of the extraordinary output, and
Bessemer held at S0.40 at Pittsburg,
while valley producers report 100000
tons sold for delivery before June next,
the consumption is evidently growing.
The demand for iron bars. owing to in
creased use Of steel, is in some quarters
below expectation, and shipments are
less active at Pittsburg though the
mills are full of orders. Rail producers
are negotiating a new compact. and
the usual eastern price $1S, is said to
be shaded in some quar- ters while 1t is
pending. But car, locomotive, bridge
and structural work f. exceedily heavy,
and there are no signs of decrease in
the demand.
Wheat rose 2k cents, but on Thurs
day declined sharply, closing 2 cents
lower for the week, Notwithstanding
very heavy exports, amount for the
week to 4,911,O O22 bushels against $685.
1856 last year, and for four weeks to
1901, ,o62 bushels against 2C,661, ,315 last
year, -four included. The usual babel
Of guesses does not change the belief
that the crop will he the largest ever
grown, and while farmers throughout
the west are holding back grain large
ly because of low prices, the western
receipts are now running above even
the extraordinary movement a year
ago, both for the week and for the
month. Corn is a fraction lower, with
some decrease in export demand,
though the recent shipments would
have been considered heavy in any
year until the last, and can hardly be
continued long.