The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-05-06
NO MORE RISK.
Element of Chance in the Bust
ness World
Has Been Almost Wholly ELM
mated Say, Dun & Go.
RECORD FOR APRIL
In Business Failures the Small.
est Ever Known
Have Been Kept.
RECORD FOR APRIL

New York, May 6.-R. G. Dun & Co.,
in their Weekly Review of Trade say:
The failures inApriI were the smallest
in any month since records by months
began, 50 per cent smaller than in April
Of last year, not third of the amount
in 1897, and not half the amount of
April of any previous year. Both in
manufacturing and in trading they
were the smallest ever known in that
month and in trading the smallest ever
known in any month. in manufac-
turing they were if the larger failures
were omitted. The ratio of defaulted
liabilities to solvent payments through
clearing houses was less than 20 cents
per 81, 600 against 80 cents in January
and S1.19 in March, $3.50 in August, and
$500 in September, 1896. A great share
of the risk in the business world has
been eliminated.
1t is not inconsistent nor strange if
business halts, because it has been
crowded to the utmost for four months
in anticipating future needs on account
of new combinations proposed. In some
cases prices have been advanced so far
as to check new business and in others
works have been engaged so far ahead
that new orders can not be taken. Yet
new business in amount which would
have been astonishing two years ago is
still coming forward, and the voluntary
advance in wages by the firms of the
central association and by the Prick
coke works, whose shipments in April,
80 452 cars, were the heaviest ever
known, show confidence in the future
At Buffalo, and in Idaho strikes are
causing trouble, but labor questions
elsewhere do not affect general bust
ness.
The grain movement has fallen off
only 2,464,14S bushels having been re-
cefved at the west during the week,
against 4.765,519 bushels last year and
. Q I,,l-.
exported. against 4.545. 749 bushels last
year. while wheat exports from both
coasts have been better 3,545, 756 BUSH
els, flour included, against 1854, 237
bushels last year.
Nearly all iron works are crowded for
months ahead, but a good many are
catching up with their orders, which
have recently diminished.
The report that all the great COM
panies are to be melted into one inf1u-
ences the stock market, but is still
scarcely credited, and the raising of
foreign prices where American cOmpe-
tftion is no longer felt, is suggestive
Pig is nowhere higher, nor has any
class of finished products established
higher prices, though in many the de-
mand exceeds supplies. London Specu-
lation made a higher price for tin at
$25.S5. although Atlantic receipts in
April, 5,105 tons, were the largest on
record, and copper is stronger at $1925
for lake, although European stocks are
rising.
Shipments of boots and shoes from
the east in five weeks have been but
14.s per cent larger than last year. IA
per cent larger than in the next
largest year, 1885, and A per
cent larger than in 1892. Factories
are busy with orders for months at old
prices, and 212 cents advance is paid on
new orders for several grades. But the
only change in leather is a small adj
vance in union sole and hides are half
of one per cent stronger at Chicago
r11 los fN1- fl,0 IL 49,
larger S,S59,S53 pounds, owing to sales
of over million pounds Australian in
bond for export, and heavy speculative
purchases of territory. The wool year
ends with heavy stocks hand and
prices about 10 per cent lower than last
year, British prices averaging about IL
per cent higher for Australian fine but
about 10 per cent lower for English and
cross-bred woods. Sales of domestic
wool in four months have been SO, 500, 735
pounds more than in any year except
ing 1897, when spectators were taking
in the heavy stocks which some of
them have recently been selling at a
loss, but sales of foreign have been 81
725, SOB pounds for the year, against go
264, $50 pounds in that year. The market
in goods is a little stronger, with an ad-
vance in clay mixtures, but in general
is waiting for the outcome of new COM
binations and about some of these
there is still doubt whether they will
be completed. The worsted combina-
ton has gone into operation, but with
out interfering with deliveries of goods
under previous orders. The cotton
goods market is the more steady be-
cause some strikes still limit produce
and active, and in some staples has fur
Their advanced
Failures for the week have been 1873
in the United States, against 23S last
year and % in Canada, against rs last
year.