Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-30
FAILURES IN 1899.
FEWER SO FAR THAN IN ANY
YEAR SINCE 's3.
AVERAGE OF LIABILITIES $1,000.
This the Smallest Figure in Twenty
Five YeRrs-IndustriaI Year the
Most Extraordinary in Our History.
Electrical Developments Marked.

NEW YORK. December 29.-Messrs. r.
o. Dun * Co.'S Weekly Review Of Trade
p.l say in to-morrow's issue.
80 correct report Of failures in 1899 can
Dee made until the year has closed. A col
lapsa OK speculation IN copper stocks has
.ws,led the aggregate at Boston alone
over NSCo9.0o0 within q few days and
might yet add 10 the record. The failures
iau5 far reported are fewer in number
than l any year since 1888, and smaller
ia amount OF commercial Liabilities than
So any year since 1881. The aggregate Of
Ls4ultcd liabilities is $2O 10000 but
nearly two-thirds Of the banking liabin-
t.s were added within a few days, the
aggregate reaching about $50 100000. The
commercial liabilities have been about
S. 5000. though exact returns for u Few
resent failures are not yet Obtainable. 80
other years, except 1851, with liabilities
VI ySi. l55. Ss2 and 1885, with So. 552, 600 have
failures been as small since the agency
commenced quarterly returns. IN 1910.
The average Of liabilities per failure IS
sss than $500. the smallest IN any year
O. The IS. a gratifying evidence that COM
A4H-|tAl Adll4ALlta are Ill A44'i IL
than usual from the point Of danger.
EXCITEMENT IN BOSTON.
Tho week has been exciting only at
Boston, where the failures growing out
of ejaculation and the efforts to re-es-
tablsa banks and firms suspended have
DOT even the week holiday character.
Iet. General business is thoroughly safe
and prosperous, and no important firms
have failed. save some which We're indi-
vdualIy connected with the houses in
VOWED In speculation.
Tho speculative troubles come because
tAe value of legitimate business and the
Unprecedented distribution OF profits, in
terest, and dividends make It 10 longer
possible 10 carry some stocks on borrow
Cd money Prosperity itself places
check on speculative ventures.
Wheat and cotton speculation has
taken a holiday, prices scarcely varying
and the movement of both is surprisingly
small Atlantic exports OF wheat. flour
Included as wheat. have I'm four weeks
been only S.27S.6lS bushels. against 1854
j81 last year. and Pacific exports, 3,jlL27l.
alainst 3.S6.S0S.
Ihe corn exports continue about as
large as last year. but cotton exports this
morth have been less than half last
years. with some decrease in the takings
O.. primers. Accumulated stocks i'm mills
and markets. both here and abroad, are
.1 large that there IS no haste TO pay the
prices asked.
THE INDUSTRIES
The Industries are closing the most ex-
traOrd.uary year of their history. Long
established branches have undergone a
veritable reconstruction, vastly increasing
their character. while new industries
ID
ago nave enlisted vast capital, altered
modes OF business and Of production in
almost every direction, and improved con-
ditlons for the future almost beyond cal
cu.auon.
Electrical developments in light, heat,
and power, I'm making cataracts work,
performing wonders in the production of
materials. and providing transportation
eli over the land, deserve especial atten-
tyu.
For such reconstruction the increase in
demand for iron and steel products is the
great feature Of the year, with 4l5,IS5 tons
uls0.d and 2B.5l6 produced weekly Jan
afy isl. hindered by such severe weather
lat the output March LIST dropped lo'VJO
t-s But expanding in every month
l,erwards, tho industry is now producing
about 10000 tons weekly, and unsOld
""aHa arc ftAANEu 10 A~-fe-' N'-''f 80
ORDERS untitled will require six 20 nine
months work from most OF the establish
neais Prices have not changed the
last week. although demand for some
Products improved little.
COTTON AND WOOL
Industries which depend on individual
conslmption have gained less, though
more than population. The consumption
" cotton has been larger than ever, with
en- average advance OF 2s.5 per cent. gn
mo prices OF goods, though cotton was,
TOT q time, p per cent, and is now 70
l,r cent. higher than January ist.
"o9. has been raised by speculation
u.l has been very largely consumed with
sieal demand for goods.
BOOTS AND SHOES.
p' boots and shoes the East has shipped
'N'P cases. on 9 per cent. more
wan last year, and q IL per cent more
'hen l 1892, but prices have advanced
o.y atout II per cent since January 1st
Dbl al these products trade shows a
''1iin1ng strong demand. although quiet
d" iNe holiday week.
Failures for the week. Z2l in the United
n'ates against 20 last year. and % in
eia. against 2 last year.
BRADSTREETs VIEW.
bfaostreet's review Of the year in bus
mesa tomorrow, will say;