The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-07-08
SMALLEST KNOWN
IN ANY QUARTER
Oun's Report of Failures for
the First Half of '99.
SMALL IN 2ND QUARTER
SMALL IN 2ND QUARTER
BREAKING ALL RECORDS FOR
THE LAST % YEARS.
EXPORTS OF CORN DOUBLE LAST YEAR,
Strikes of Iron Workers are Reported from Va
vious Sections and the Strike Of the
Tin Plate Men is Sill
Unsettled.

New York. July 7.-R. G. Dunn ana
Company Weekly Review of Trade will
says tomorrow:
Failures for the first half of 1899 with
banking and financial institutions includ-
ed as all other accounts published, were
4,SS4, with liabilities of S49,664,66l
Commercial failures were 1853, with
liabilities of $4,000, 1888, of which $16,-
723,3353 were manufacturing and $23,
OF i ,364 We're trading.
In the second quarter failures We're
the smallest ever reported in that quarter
of twenty-five years for which quarterly
reports have been made by this agency.
The average per failure, S7,165. is the
smallest ever known in any quarter; the
average per firm in business y12.20, and
the ratio of dcfauted liabilities to sol
vent exchanges 62 cents per 81 600 are
both the smallest ever known in any
quarter. In ten out of fourteen branch
es OF manufacturing, failures were
smaller than in the same quarter Of four
of the previous five years. and in thir-
teen out of fourteen trading branches.
The large failures for 100000 or more
were only two in trading for $224 0SS
less than a tenth of the smallest previous
year, and only fifteen i'll all for S2.411,-
$50, from a fifth to tenth of previous
years. The decrease in small failures
is worth especial study.
Wheat declined "a of a cent. exports
being but S2.250,021 bushels for the
week, flour included against 2.643. 10:
last year for both coasts. although West
ern receipts were 1861, o23 bushels
against 61S, 492 last year
If the farmers actually carried over
6o.00000O bushels. or more, Il year ago,
after S1.25 to 50 per bushel nal been
paid at Chicago for some months. as
one farming journal estimates they need
the education which they are getting.
but the claim still entirely fails TO ac-
count for their liberal splitting this
year at lower prices. Contradictory
guesses and hopes continue. but this
year is very hard on predictions.
Corn exports are twice last years. D.
37S. 70S bushels. against 1.02S, 133 last
year for the week and the price de-
clined n quarter. The cotton move-
ment still indicates greater surplus
than was expected, but disastrous floods
in Texas caused sixteenth advance.
which dispatches from that quarter do
not seem to warrant. The Joss, much
or little, would not materially affect
years business.
Scarcity and high prices Of iron and
its products can no longer be reckoncd
evidence of good times. In the Shenango
Valley six furnaces have been stopped
by IA strike for twenty per cent More
wages. and minor strikes are reported
at various iron works, tine tin plate
strike being yet unsettled. New orders
reported continue large, being evidently
reported week after week at differe lii
cities because not taken. but new or
ders accumulated do not equal the out
put of the works Predictions Of great
scarcity of pig iron have lifted the price
still further to 81 per cent Of the average
January, 1887. but several more furn-
aces are going into operation ana the
Illinois Steel Company has contracted
for others Of the largest capacity.
Textile manufactures are doing well
and in WOODEN goods prices tend upward
with a considerably better demand, but
sales of 9.S2S, 700 pounds Mt the three
chief markets were mainly 10 dealers
and the advance i'll price 1913. cents
per pound average for 100 quotations by
Coates Brothers, against 1876 June
18th, and 1901 May 10Th, does not ia
vite heavy transactions.
Cotton goods show no pressure TO sell.
but are qnieter, and the increased manu-
facture at the South is felt each year
more clearly in Northern mills. The
volume of business for the first week
Of july has been 36 per cent greater
than last year and 1913 per cent greater
than in 1892.
Failures for the week have been 40
in the United States, against 223 last
year, and 20 i'll Canada, against II
last year.