The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-04-08
No Other Year in Twcnty-four
Except two Shows as Small
Failures as Recorded,
AND AS SMALL LIABILITIES.
Average Dcfaulted Liabilities Per
Firm in business 500. 10 Best
Record Yet Made.
EFFECT OF FAMINE IN IRON
Causes Haste to Start Forty Eight
Additional Furnaces =. Other
Industries are Prosperous

l p
NEW YORK, April 7.-R. G. Dun &:
Co.'s weekly review Of trade will say
tomorrow:
Failures in the first quarter OF 1899
were 2,772 against 3,6S7 last year and the
liabilities s27,152.031 against $32,946,565. a
decrease OF 17.6 per cent. Geographical
aspects make the return peculiar, with
u slight increase Of defaults in New
England, nn increase OF 10 per cent In
the southeast and 20 per cent In the
central states. There was a decrease of
nearly 40 per cent in the Pacific and
southwestern states, Al per cent In
western states and As per cent in mid
die states. No other year OF the TWEEN
ty-four covered by Dun's quarterly re-
ports has shown as small failures dur
Ing its first quarter excepting 1880 and
1881, and no other except 1880 and 1885
as small liabilities per failure. The
average OF defaulted liabilities per firm
in business only s22.19 Is smaller than In
the first quarter of any year except 1850
and the ratio OF defaulted liabilities to
solvent payments through clearing
houses only 81 70 per $1,000 is also the
lowest for the quarter except In 1880.
Famine in Iron.
The famine in iron caused by urgent
demand far exceeding present supply
not only continues. but has caused haste
to start forty-elght additional furnaces
with an output estimated at 5s.9I2 tons
weekly, Of which the Bulletin of the
Iron Association has given list. These
are expected to increase production this
month and yet more in May and June
and some weakness has been attributed
to the prospect. But the price off, grey
forge has again advanced to s14 so at
Pittsburgh without change in other
quotations. The demand for products
Is still enormous, contracts for the East
river bridge covering 1900 tons acid
open hearth steel. have been placed at
Pittsburgh and one covering 6,0O0 tons
for Newark building besides one in
Philadelphia for 5000 tons ship plates.
With many bridge and other works and
in pipes new business is so great that
1t forces farther advance In prices while
parties are trying to consolidate. The
Republic Iron 6: Steel Company will be
the combination OF western bar mills
and the Hoop and Cotton Tie Associa-
tlon will soon be completed.
Boot and Shoe Trade.
In the boot and shoe industry progress
seems to have been caused by ilrmness
Of manufacturers who notified custom-
ers that options for boots and shoes not
accepted before April would be with
drawn. A great number of orders fol-
lowed, 1t Is said. and April begins with
the largest shipments for that week in
any year, 9S,734 cases, making the total
for the year larger than in any year
excepting 1898.
Manufacturers who bought leather ut
low prices months ago have comfortable
margins, but those who buy Mt the high
er prices lately quoted. are seeking an
advance. which, as before, jobbers gen.
orally refuse.
The market for copper Is stronger at
IS cents for lake and while domestic
consumption is heavy. the increase Of
400 tons in European supply in March
is not considered encouraging.
WooIcn Manufactures. -
The woolen manufacture does not yet
appear to have gained by recent con-
solidations or proposals, but goods Of
the finer grades are steady In price with
moderate orders, while medium and low
grade goods tend In buyers favor. The
demand for 4 few kinds has covered the
season, but makers of the large majori-
ty are yet In need OF orders. Sales of
wool have but slightly increased.
though more inquiry Is reported with II
better demand for some grades of goods.
The cotton mills have enjoyed fine
demand Of late and have held prices
we'll, but strikes have now closed sew
eral large mills about Providence and
Norwich. growing out Of the recent adj
vance Of wages which the hands claim
does not effect the full restoration prom
ised. Meanwhile cotton has been weak
er with better receipts in March and
poorer foreign demand.
Grain Market.
Wheat has been iluctuatlng without
much visible reason, rumors being Wild
~ contradictory as usual at this season
and commanding not much more conf
dence than usual. The exports from
Atlantic ports for the week, flour in
cluded, have been @.O74.7G9 bushels.
against 2.24O,172 last year, and In spite
of all reports OF the current stock TO cX-
ceed last years. The prospect for con-
unuancc of large exports of staples has
not improved within the past ten days.
Failures for the week have been III
in the United States against 30 last
year and II In Canada against 70 last
year,
Short Cabinet Meeting.
WASHlNETON Aprll r-Thr c,bt,ri