Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1899-06-03
BUSINESS TMGI 3NSE.
pun's Review said " = Enormously Be-
yond Expectations Rate of
Failures Low.

/
! New YORK. June 3.-R. G. Dun &
Co. S weekly review of trade issued to
| day sad i'll part:
April failures were the smallest eve
reported i'll any month. May failures
are nearly $2,000.G00 smaller, only 62.'
per cent of the smallest previously re
ported i'll any month, and only 34.3 pei
cent of those i'll May last year Solven
payments were SS,3333S, :3333S 292. .052, and de
! faults We're S3,S20.6 or 45.1 cents Oh
$1,000, against 20 cents in April, 81. Is
III March, and $500 i'll September, 1896
| Comparison with previous years ind1
| Gates that the ratio of defaults to sol
| vent business has never been as small
| i'll any other month as i'll May. 1899
Both i'll manufacturing and i'll trading
failures We're the smallest ever known
Ill any month, and i'll each branch eight
of the II classes showed smaller failures
than i'll Nay Of any other year.
In dealing with times like these, the
chief difficulty is toavoid the accents OF
eXtrayagance. The actual is beyond ex-
perience, and if its naked recital in
Vltes lncredulity, what well reasoned
forecast of the future could gain hear
ing? Nobody has known until this
year and the past month how great the
American d aniand for products might
be, and IL does not stop short because it
has been largely anticipating the fu-
ture, as many expected, but still drives
buyers to order more, as if no future
had been anticipated. In actual pay
ments, through clearinghouse, business
is 5S.06 per cent larger than last wear
and IS. / per cent larger than in 1892
In ra road earnings. Notwithstanding
difference i'll rates, business is 81 per
cent larger than last year and 81 3 per
cent larger than in 1892.
More than 20 years ago the demand
for iron was called the industrial ba-
rometer, and it claims the place vet
when the demand passes ali belief.
Many more furnaces have gone into
blast, and yet the famine grows more
severe, pig has risen this week 90 cents
to 81 at Chicago, and grey forge %
cents at Pittsburg, billets actually sell
.ing there for 50 more than the standard
price for steel rails. Plates are so
needed that 50 premium is paid for June
or July delivery. Structural works are
far behind and are expected to advance
prices. Sheet works cannot fill orders,
though S2.S5 is paid for block No. 81 at
Pittsburg, and bars are stronger, with
cut nails 10 cents higher. Pig iron has
advanced S.5 per cent i'll MAY and fin
ished products 2.6 per cent. Coke works
are overcrowded and prices are higher.
The wool spectators seem TO be pre-
pairing such trouble for themselves us
they met nearly two years ago They
are buying largely, but manufacturers
are not. although orders for goods have
and the demand from cloth
iers begins tC' encourage agents The
mills have large stocks of wool on hand,
and probably much larger than the
dealers yet realize. Sales for the week
at three chief markets were S,lS7 800 |
pounds, against 4,5l3,2 POO pounds last !
year, 5.125. eco i'll 1897, when. specu- |
lators We're trying to realize ut high |
prices, and 6,6i0, 800 pounds i'll 1892.
Wheat has been lifted slightly ON all |
sorts of reports and then dropped, clos
ing one cent higher than last week.
Failures for the week have been l45
u the United States, against 222 last
rear, and II in Canda, against Is last
-ear.