The times., 1899-12-30
DUNs WEEKLY REPORT.
business Failures In 1890 Fewer
Than in Any Year Since 1883.

business Failures In 1890 Fewer
Than in Any Year Since 1883.
NEW YORK, Dec. 29.-Dun's review to-
morrow win say:
No correct report OF failures in 1898
can be made until the year has closed
collapse Of speculation in copper stocks
has swelled the aggregate at Boston alone
over $1S.OOO.000 within few DAYS. and
might yet add TO the record. The failures
/ thus far reported are fewer in number than
IN any other year since 1883. aud smaller
! In amount OF commercial liabilities than
IN any year since 1881. The aggregate OF
deiauited liabilities is $120, 100 COO. but
. nearly two thirds of the banking iiabiH-
ties were added within a few DAYS. the ag-
sregate reaching about S3O. SCI. 200
The commercial liabilities have been
about $50 260 900. though exact re-
turns for few recent failures are
not yet obtainable. In no other years ex-
eept 1891 and 1880 have failures been as
small since this agency commenced quar-
terly returns in 1875. The average OF la
bilities per failure is less than $500. the
smallest in any year Of the twenty five, a
gratifying evidence that commercial liza
oilfttes- are further removed than usual
frcm the point of danger.
The week has been exciting CuIy at
Boston. where the failures growing out OF
speculation, and the efforts 10 re-es-
ta5lish banks and firms suspended have
Tot given the week a holiday character
Yet general business is thoroughly safe
and prosperous, and no important firms
nave failed. save some which were indi-
vidualiy connected with concerns involved
by speculation. The failures OF the Pro
duce Exchange Trust and a brokerage frm
here were likewise due to the sudden fall
IN industrial and street railway stocks.
and resumption OF the trust company with
new management is now expected
Wheat and cotton speculation has tsk-
en- holiday, prices scarcely varying. AID
the movement of both Is surprisingly
small. Atlantic exports OF wheat. -four
included, have, in four weeks. been only
s,27S61 bushels. against 19.S74.5s7 last
year, and Pacific exports 3,31f.271. against
3, S56 SOS.
The increase in demand for iron AMI
steel products is the great feature of tie
year and the industry is now producing
about 3C0.Ga0 tons weekly. and ursoId
stocks are reduced TO 122, ,923 tons. aud ret
orders untitled will require six 10 nj e
months work from most Of the sstabli h
ments. Prices have net changed the pas.
week though demand for some products
improved little. The average OF D ia s
closes 11S-5 per cent higher than Janua
1 for pig. and 1928 Per cent higher Tor
products
Consumption Of cotton has been larger
than ever. with an average advance Ct %. 5
per cent in prices Of goods. though cctt
was for time 80 PER cent and is now p
per cent, higher than January L. Wool has
been raised b. speculation 35 per cent, but
has been very largely Consumed. vi n great
demand for goods. which have advanced but
Il per cent
after the severe pressure In the lean
market Secretary Gage decided u increase
deposits OF internal revenue receipts IN
banks and has already received on deposis
about S17. eco. eco United States bonds for
that purpose This and the net receipts
of 81 $50, coo currency from the interior
have helped much. bat the liquidation in
stocks was yet more potent to remove
pressure, ana the new year comes witt
commercial loans freely made at 70 s i-2
per cent, the proportion OF such loans Cur
ing the past week having been IS per cent
at leading banks.
Failures for the week have been 2ZI in
the United States, against 252 last "a,
and % in Canada, against . last year.