The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1899-07-07

New York. July 1.-R g. Dun 4 Co 3
weekly review Of trade says: Failures for
the second quarter Of 1899 have been 2,eSo in
number, against 3.05S last year, with lia-
bilities Of SEQ, 25s 600, against 36,so2z52 last
year, and for the first half Of 1so failures
bilities Of $48, ILL., 600, against 81, B,70 last
year. Nearly half of the June liabilities
are due to one failure, not strictly CONNER
ctal. covering some banking concerns, .
promoter and a railway equipment COM
pany for $5.136.000. in essential features a
loan and trust concern: With IT banking
failures amount to Sc, 436 600 for the half
year, leaving for commercial failures H.
N5,053, against $67,444,639 last year. Man
ufacturing were $16,S O0, 600 for the half
year, against $30, 768,1A last year. and trad
ing were $4,000 900, against $s2,s5s626 last
year.
The demand for iron and steel seems to
have no limit. Scarcity Of pig has raised
hegprice a dollar per ton for local coke at
burgh, and .75 to $1775 for grey forge and
% cents to $1s.25 for anthracite No. I at
Philadelphia, with some iron selling above
these quotations at all points for early de-
livery. The continuing demand, In spite Of
rising prices, astonisfies everybody. I rs
Another industry passes all records.
boot and shoe shipments from the east
S~~SSSb SASSSAAn6
month Of any year for four weeks, and the
demands for speedy delivery show enor-
nous distribution in all directions. New or
ders are large, and several months ahead"
Bradstreet's says: Though seasonabIy
quieter in many. lines, the strength Of the
general business situation remains appar-
emily undated, and the half year closes
with the commercial and financial COM
munity contemplating very satisfactory re-
turns in the recent past, and manifesting
tone OF cheerful confidence regarding the
outlook for the last half Of 1899. In the vol
ume of business done the first half Of 1899
will certainly rank higher than the best
hitherto experienced, and the notable rise
IN prices which was such a feature of the
past spring, has done much to reconcile
traders to the admittedly small margins of
pronts which modern business operations
tend toward making permanent. Touching
this matter, it might be added that staple
prices to-day are in a majority of in
stances we'll above quotations ruling for
some years past. the general level. in fact,
being the highest since early in 1891 In
some instances, of course, notably in iron
and steel, recent advances have brought
the level of prices well above anything re-
ported since 1892, though 1t is tobe remarked
that much of the business done in that in
dustry this spring was at old levels, the
most sanguine observers in this line having
failed to accurately gauge the real pro-
portions of the late advances. That the
transportation interests have shared to q
large degree in the business resulting from
several years Of large crops and active de-
mand is proved by the current good returns
the best probably reported so far this year,
and indicating progressive gain over all
previous records for the six months, not
withstanding the steadily lowering rates
of transportation. There is little IN the
immediate outlook that can be construed
as unfavorable.''