The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-07-08
SIGNS OF PROSPERITY
FAILURES IN PAST QUARTER THE
SMALLEST IN TWENTY-FIVE YEARS.
Dun & Co.'s and Bradstreet's Weekly
Reviews of Trade-0utlOOk Still
Favorable for Business.

NEW YORK, July 7-R. G. Dun G. Co.'S
Weekly Review of Trade will say to-
morrow: Failures Of the first half of 1899
with banking and financial included as in
all other accounts published were 1854, with
liabilities s49,664,661 Commercial failures
were 4,S53 with liabilities of $4,000, 93S. of
which SAL 1853 were manufacturing and
s2c, OIL, 1854 were trading. In the second quar-
ter failures were the smallest ever reported
In that quarter for twenty-five years, for
which quarterly reports have been made
by this agency. The average per failure,
S.165, is the smallest ever known in any
quarter; the average per firm in business.
N2.22c, and the ratio of defaulted liabilities
to solvent exchanges sixty-two cents per
81 900 are both the smallest ever known
In any quarter. In fourteen branches of
manufacturing failures were smaller than
In the same quarter of four Of the
previous five years and i'm thirteen out of
fourteen branches. The larger failures for
100000 or more were only two in trading
for $224.0 less than a tenth of the smallest
previous year, and only fifteen In all for
$2.417,1so from a fifth to tenth of previous
years. The decrease in small failures is
worth especial study.
Wheat declined ssc, exports being but
2,25c021 bushels for the week, -four included.
against 2.643. 139 last year, for both coasts.
although Western receipts were 3,s61,523
bushels. against 61s.492 last year. If the
farmers actually carried over 5000, 900
bushels or more a year ago, after $1.25 TO
" per bushel had been paid at Chicago Tor
mates, they need the education which they
are getting. but the claim still entirely fails
to account for their liberal splitting this year
a Z lower prices. Contradictory gu6SSeS
hopes continue, but this year is very hard
of predictions. Corn exports are twice last
years, 2,37S,70S bushels against LOS, 255 last
year for the week and the price declined
The cotton movement still indicates a
greater surplus than was expected, but dis
astrous floods in Texas caused a sixteenth
advance which dispatches from that quar-
ter do not seem to warrant The loss much
or little, would not materially AFFECT
years business.
Scarcity and high prices of iron and it's
products can no longer be reckoned evil
dence of good times. In the Shenango
valley six furnaces have been stopped by
a strike for 20 per cent more wages and
minor strikes are reported at various iron
works. the tin-plate strike being yet I'M
settled. 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
scarcity of pig iron have lifted the price
January. 1Ss7-but several more furnaces are
going into operation and the Illinois Steel
Company has contracted for others Of the
largest capacity. .
Textile manufacturers are doing well, and
in wooden goods prices tend upward with
a considerably better demand. but sales OF
9S2S 700 pounds at the three chief markets
were mainly to dealers and the advance In
price 1857 cents per pound average for 100
quotations by Coates Bros, against 1876
June 10 and 1901 May 15 do not invite heavy
transactions. Cotton goods show no pres
sure to sell, but are more quiet and the IN
each year more clearly in Northern mills.
The volume of business for the first week
in July has been 1856 per cent. greater than
last year.
Failures for the week have been 119.
In the United States. against 229 last year.
and twenty in Canada, against seventeen