Daily press. [volume] (Newport News, Va.) 1896-current, 1899-07-08
NEWPORT NEWS, SATURDAY, JULY s. 1899
BUSINESS FAILURES FEW.
Number for the Second Quarter of the
Year the Smallest In >5 Years.
lBV I'elegranhl

(By telegraph
| NEW YORK, July 7.-R G. Dun &.
Co.'S weekly review Of trade will say
tomorrow:
Failures for the first half Of 1899 with
banking and financial included as in all
other accounts published. were 4 oSi,
with liabilities of S49,G6l Col CONNER
cial failures were 1853. With liabilities;
OF S42 .062.933 of which SIG. 723 30: were
manufacturing and $23.011,36l wc:@
trading.
In the second quarter failures were
the smallest ever reported in that quar-
ter OF 20 years for which quarterly re-
ports have been made by this agency.
The average per failure, $7.165. is tl.,.
smallest ever known in any quarter:
the average per firm in business S12 30
and the ratio of deflulted liabilities
to solvent exchanges 81 cents per 81 OD)
are both the smallest ever known in
any quarter. In 10 out OF IA branches;
OF manufacturing. failures We're
four of the previous five years, and IN
Is out of II trading branches. Thr
large failures for $1,000 600 or more were.
only two in trading FOR S224. 0sS less than
tenth of the smallest previous year
and only fifteen III all for S2.4171S0. from
fifth to a tenth of previous Years:
The decrease III small failures is worth
especial study.
WHEAT'S DECLINE.
Wheat declined three eghts of Il cent
exports being but s2.250.021 bushels for
the week flour included. against 2.633. :
1879 last year. for both coasts although
western receipts We're 1851, 523 bushels
against 61S.492 last year
If the farmers actually carried over
69.Ooo00O bushels, or more, a year ago.
after Sl.25 to 81 per bushel had been
paid at Chicago for some months. as
need the education Which they are get
ting. but the claim still entirely fails
to account for their liberal selling this
Year at lower prices. Contrary guess Is,
and hopes continue, but this year is
very hard on predictions.
Corn exports are twice last years
2.S1S.10S bushels against 1.20S,255 last
year for the week. and the price dcclin-
ed a quarter The cotton movement
still indicates a greater surplus than
was expected but disastrous floods in
Texas caused Il sixteenth advan..>,
which dispatches from that quarter do
not seem to warrant. The loss, much
or little, would not materially affect a
years business.
IRON AND ITS PRODUCTS.
Scarcity and high prices of iron and
its products can no longer be reckonall
evidence of good times. In the she
mango valley six furnaces have been
stopped by strike for twenty per cent
more wages. and minor strikes are rc-
ported t various iron works. the plate
strike is yet unsettled. New orders
reported continue large being evidently
reported week after week at different
cities because not taken but new orders
accumulated do not equal the output of
the works. Predictions of great scar
city of pig iron have lifted the price
still further to 9l.2 per cent of the av-
cE2Ge January. 1887. hut several more
furnaces are going into operation and
the Illinois Steel Company has contract
Cd for others of the largest capacity
Textile manufacturers are doing we'll
and in woolen goods prices tend upward:
With 4 considerably better demand. 'nut
sales Of 9,S22,.00 pounds ut three chief
markets were mainly to dealers and the
advance in price 1887 cents PEI, pound
average for 100 quotations by Coates
Bros. against 1916 June Is and 1891
May 10, does not invite heavy transac-
tions.
COTTON GOODS.
Cotton goods SHOW no pressure to sell,
put are quIctcr. and tho increased mani
ufacturc at tho south is felt each year
more clearly in northern mills The
volume of business for the first week or
July has been 36 per cent greater than
last year and 1919 per cent greater than
in 1892.
Failures for the week have been l1o
in the United States against a29 last
year, and 20 in Canada against II last
year.