The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-06-03

DUN'S WEEKLY
REVIEW OF TRADE
April Failures Smallest Ever Re-
ported for Any Month.
LARGE RAILROAD BUSINESS
Iron Advancing in Price Cotton Goods
Steady, With Increased Demand :
and Higher Prices-Wool Spec f
ulators Getting in Trouble.

New York June Pr. C. Dun & Co.'S
weekly review of trade tomorrow will say:
April failures were the smallest ever re-
ported in any month. May failures are
nearly $4,000 smaller, only CTS per cent
of the smallest previously reported in any
month, and only 243 per cent. of those in
May last year Solvent payments were
IS, 32S 292 052, and defaults were $9,s20.6s6, or
45.7 cents on $1,000, against 20 cents in
April, $1.19 in March and $500 in S<ptem-
Der, 1896.
Comparison with previous years indicates
that the ratio OF defaults to solvent bust
ness has never been as small in any other
month as in May 1889.
Both in manufacturing and in trading,
failures were the smallest ever known in
any month, and in each branch eighty-four
classes showed smaller failures than i'll
May of any other year. In dealing with
times like these the difficulty is to avoid
the accounts of extravaganza.
The actual is broad experience and the
recital invites incredulfty with well rea-
soned forecast OF the future could gain
hearing. Nobody has known until this year
and the past month how great the Anleri-
can demand for products might be and 1t
does not stop short because it has BEEN
largely anticipating the future as many ex-
pected but still drives buyers to orders
more as If no future had been anticipated.
Actual payments through the clearing
house IS IS per cent larger than last year
and 36.1 per cent. larger than in 1892 In
railroad earnings notwiths landing the diff
ference in rates, business was larger than
last year, and 21.S per cent. larger than in
1892. More than twenty years ago the de-
mand for iron was called the Industrial
barometer, and it claims the place yet
when the demand passes all belief
Many more furnaces have gone into b'ast
and yet the famine grows more severe, pig
iron having risen this week so cents at
Chicago and gray forge % cents at Pitts
burg, billets actually selling there for So
more than the standard price for steel
rails. Plates are so needed that s. pre-
MUM is paid fer June or July delivery.
Structural works are far behind and are
expected to advance prices. Shot works
cannot fill orders, though 1886 is paid Tor
black No. q at Pittsburg, and bars are
stronger with cut nails 10 cents higher. -
Pig iron has advanced 50 per cent, in
finished products, 2.6 per cent. The cokes
are overcroWded, and prices are higher.
Minor metals arc all dull, tin at $50; cop
per at 1872 for lake, and lead 4.65c
Cotton goods are steady, with increased
demand and higher prices.
The wool spectators seem to be prepar-
ing such trouble for themselves as they
met nearly two years ago. They are buy
ing largely, but manufacturers are not al
though orders for goods have improved and
the demand from ciothiers begins to en-
courage agents.
The mills have large stocks of wool on
hand and probably much larger than the
dealers realize. Sales for the week at three
chief markets were S,117S0O pounds against
45l3,2W pounds last year, 5,S5S,90O pounds
in 1897, when speculatprs We're trying to
realize at nigh prices, and 6,64O, see pounds
in 1892 Failures for the week have been
145 in the United States against "a last
wear.