Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-07-01
DUN'S REPORT.
Failures for the Half Year Way
Below Those Of 1898.
Iron and Steel Demand Still Grows---
Shoe Shipments Large.
Wool Speculation Prominent = Enormous
wheat Receipts Drop Price.

New York, June COR. G.. Dun K
Cos. Weekly Review of Trade. tomor-
row. will say: Failures for the second
quarter of 1899 have been 20S0 in num-
Der against 3055. last year. with liza
hilities Of 500. 259O00 against $50. 602, 252.
las. year. and for the first half of 1899
failures We're 1852 against 6166. last
year. with liabilities Of s4S, 1ll,OOO
against 81, 246. 5S3. last year, But near
~ half the June liabilities are due TO
one failure not strictly commercial,
covering some banking concerns. pro-
moter and railway equipment COM
pany for s., 1916, 900. in essential features
amount TO s6,46300o for the half year,
leaving for commercial failures $42.2l5,-
053 against So, 444, 639, last year. Man
ufacturing were $4,000 900 for the half
year against s3O,99e,626, last year.
The demand for iron and steel seems
to have no limit. Prices of pig av-
erage higher than at any other time
since February. 1890, and prices of fin
ished products higher than since
March. 1891. Billets are hardly obtain
able, bar and plate orders are quite
largely refused because works are
Overcrowded. sheet mills have much
stronger demand at the West. but less
at the East and structural works re-
port 10000 tons required in two new
Eastern contracts. Tin is stronger at
IS cents and copper at IS cents for
Lake. but lead is duh with hope of an
end to the Colorado strike.
Another industry passes all records.
boot and shoe shipments from the East.
4O0.S13 cases. exceeding those in any
other month Of any year for four
weeks, and the demand for speedy de-
livery shows enormous distribution in
all directions. New orders are large
and several months ahead.
Wool sales 36.119, 900 pounds. of which
80 S65 900 We're domestic, reveal a spec
ulation scarcely less obtrusive than in
1897 when II 49,, 900 pounds We're sold in
the same weeks against 23.l6S.2OO in
1892 when the mills We're we'll employ
ed The manufacturers are manufac-
turing largely without buying much
wool and have improved demands for
cloths.
Cotto1 mills are doing we'll in spite
of the fan in cotton, as the demand
gives Them enough TO do at current
prices and weak spots in the trade are
defended by the agreement between
Fall River mills.
Wheat receipts at the West in four
weeks have been 21,69l, $50 bushels
against 41l1,625, last year. Beyond
question: the farmers and the specu-
lators aHd~elevator owners in farming
regions belieHe that about so cents here
is as much as the~old wheat will fetch.
although exports have been for four
weeks S.9i9.S3 bushels from Atlantic
ports against 15Ol2.6S last year. and
2445, 40 from Pacific ports against
1929, 7O9, last year 1t is not surprising
that with such receipts the price has
dropped l 1-2 cents and corn also fell
cents with exports in four weeks H.
ass. 500 bushels against 12,60l,1O3, last
year. The cotton market is also weak,
with heavy receipts and good crop
prospects. and declined a sixteenth.
Failures for the week have been Isl
in the United States against 254 last
wear. and % in Canada against 10. last
wear.