Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1899-12-30
BUSINESS PROSPEROUS.
Dun's Review Said It Was Thoroughly
Safe In Spite of the Bos- 10
ton Failures.

NEW York, Dec. 30.-R. G.. Dun g
Go. Is weekly review Of trade issued to-
day said in part:
No correct report Of failures in 1900 can be
made until the year has closed. A collapse OF
speculation in copper stocks has Bwelled the
aggregate at Boston alone over sis.000.000
within few days, and might yet add to the
record The failures thus far reported are
fewer in number than In any year since 1885,
and smaller in amount Of commercial liabili.
ties than in any year since 1881. The aggre-
gate Of defaulted liabilities Is sl20 .0OJ but
nearly two.thirtls Of the banking liabilities
were added within few days, the aggregate
reaching about s30,e0J.0O0 The commercial
liabilities have been about So, ,260O 900. though
exact returns for n few recent failures are not
yet obtainable. No other years except 1884,
with defaulted liabilities of 3f,l55,9j2, and
1880. with s65.752UOJ, have failures been as
small since the agency commenced quarterly
returns in 1916. The average OF liabilities per
failure Ia less than s3,5JU. the smallest in any
year OF the 25. q gratifying evidence that com
mercial liabilities are further removed than
usunl from the point OF danger.
The week has been exciting only at Boston.
where the failures growing out Of speculation
and the efforts to reestablsh banks and firms
suspended have not given the week holiday
character. Yet general business Is thorough
~ suie unu prosperous anu no important urmS
have failed save some which were individu-
ally connected with concerns involved in
speculation.
Tho speculative troubles come because the
volume Of legitimate business. and the un
precedented distribution of profits interest
and dividends, made 1t no longer possible to
caIry some stocks on borrowed money. Pros
perity itself placed check on speculative
ventures.
Wheat and cotton speculation has taken
holiday, prices scarcely varying, and the
movement Of both is surpr isingiy small The
corn exports continue about as large us last
year.
The industries are closing the most remark
able year OF their history. Long established
branches have undergone veritable recon-
struction, vastly increasing their capacity.
while new industries. which scarcely existed
d year or two ago, have enlisted u vast capi-
tai. altered modes Of business and Of produc.
ton in almost every direction and improved
conditions for the future almost beyond cal
culation. Electrical developments in light,
heat and power. IN making cataract work,
performing wonders in production OF materi
ais and providing transportation all over the
land, deserve especial attention.
For such reconstruction the increase in de-
mand for irou and steel products Is the great
feature OF the year. With 753 tons unsod
and 24j,5l6 produced weekly Jan. /, hindered
by severe weather SO that the output March
dropped l5,VO0 tons, but expanding in every
month afterwards; the industry IL now pro.
ducing about HO),0JJ tons weekly, and unsold
stocks are reduced to l222,q23 tons. and yet or
ders untitled will require six to nine months
work from most Of tine establishments. Prices
have not changed the past week. though de-
mand for some products improved a little
The average of prices closes ll05 per cent
higher than Jan. for pig and 1923 per cent
higher for products
Industries which depend on individual con-
sumption have gained less, though more than
population. Wool has been raised by specu.
lation 10 per cent, but has been very largely
consumed with great demand for goods. which
have advanced but IL per cent. Stocks now
held are said to be l57. .2Ds,sl0 pounds.
Failures for the week nave been 221 In the
United States, against Is! last year, and 25 in
Canada, against s2 last year.