The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-07-11

|
New York. July 7.-R. G. Dun & Cos
weekly review Of trad viii say tomor-
row:
Failures for the first half Of 1853, with
banking and financial houses included
as in all other published, were
1854, with liabilities Of SIS. ss4. s61. Com
mercial failures We're 4.s5S. with liabil-
titles of s42, 0S2, s3s, OF which s16,7 2S. 35S
were manufacturing and $50, OIL .3s4 were
trading.
In the second quarter the failures
were the smallest eve reported in that
quarter for the twenty-five years for
made by this agency. The average per
failure-s7 ,165-is the smallest ever
known in any quarter; the average
per firm in Observation-Disclosures the
ratio Of defaulted liabilities 10 solvent
exchanges-62 cents per 81, 000-are both
the smallest ever known in any quar-
ter. In ten out Of fourteen branches OF
manufacturing, failures were smaller
N in the same quarter OF four OF the
previous five years, and in thirteen of
the fourteen trading branches. the large
failures for 800, 900 or more were only
two, in trading for 1924, 0Ss, less than a
tenth of the smallest previous year,
All OIily Hltctu III dl lOT <ssfli.1cV,
from a fifth TO a tenth Of previous years.
The decrease in small failures is worth
a special study.
Wheat declined Is of a CEN exports
being but 2,250,021 bushels for the week,
hour included, against 2,643,13 last
year, for both coasts, although western
receipts were 1861, 523 bushels, against
1892 bushels last rear. If h farm
eTs actually carried over Go. 900, 900 BUSH
els or more, a E ago, after s1.25 10
500 per bushel a been paid at Chi
cago for some months, as one farming
Journal estimates, they need the edu-
cation which they are getting, but the
claim still entirely fails to for
their liberal splitting this year al lower
prices. Contradictory guesses and hopes
continue, but this e is very hard on
predictions.
Corn exports are twice last years.
2,3IS, 40S bushels, against 1,20S, 255 last
year for the week, and the price de-
cllned "a of a
The cotton movement still indicates
a greater surplus than was expected,
but disastrous floods in Texas caused
a Lilo cent advance, which dispatches
from that quarter do not seem TO war;
rant. The loss, much or little, would
not materially affect a years business.
Scarcity and high prices or iron and
its products a no longer be reckoned
evidence OF good times. In the Shenan-
go valley six furnaces have been stop
e by a strike for 20 per cent. more
wages, and minor strikes are reported
at various iron works, the tinplate
strike being yet unsettled. New orders
reported continue large, being evidently
reported week after week at different
cities because not taken, but new or
ders accumulated do not equal the
output of the works. Predictions of
, great scarcity Of pig iron have lifted
the prices still further to 91.2 per cent.
Of the average January, 1887, but sew
eral more furnaces are going into OPP
GRAFTON and the Illinois Steel Company
! has contracted for others of the lar
gest capacity.
Textile manufacturers are doing well
| and in wooden goods prices tend up
ward, with a considerably better de-
mand.
Cotton goods shrow no pressure to
sell, but are quieter and the increased
manufacture at the south is felt each
| year more clearly in northern mills. The
| volume of business for the first week of
\ July has been Sc per cent. greater than
last year and 1873 per cent. greater than
| in 1892.
Failures for the week have been 119
in the United States, against 229 last
! year, and 20 in Canada, against q last
/ year.