The Providence news. (Providence [R.I.]) 1891-1906, 1899-04-08

A Feature of the First Quarter OF 1899.
Famine In Iron Continues.


New York. April s.-R G. Dun & Co. 3
weekly review OF trade says: Failures
in the first quarter OF 1899 were in num-
Der 2772. against 1861 last year. and the
liabilities s27.l52,oSl, against sS.vie.565.
decrease OF l76 percent. Geographical
aspects make the returns peculiar. With
a slight increase OF defaults In New Eng
land. an increase Of 13 percent in the
southeast and 20 percent in the central
states. there was a decrease OF nearly
~ percent in the Pacific and southwest
ern states. IL percent i'm western states
and As percent in middle states No
other year OF the "a covered by Duns
quarterly reports has shown as small
failures during its first quarter excepting
1880 and 1881, and no other except 1880
and 1886 as small liabilities per failure.
While nothing definite is known OF the
trusts. the railroads are reporting more
satisfactory earnings for March, Go per-
cent larger than last year and 1873 per-
cent larger than 1892.
The famine in iron, caused by urgent
demand. Tar exceeding present supply.
not only continues but has caused haste
TO start 4S additional furnaces. with an
output estimated at 1892 tons weekly.
These are expected to increase produc-
tion this month. and yet more In May and
June. and some weakness has been at
trlbuted TO the prospect.
In another industry progress seems TO
have been caused by frmness of manu-
facturers. who notified customers that
options for boots and shoes not accepted
before April would be Withdrawn. A
great number OF orders followed. II i
said. and April begins with the largest
shipments for that week in any year,
rs, 134 cases making the total for the year
larger than in any year excepting 1898.
Manufacturers who bought leather at
low prices months ago have comfortable
margins, but those who buy al the higher
prices lately quoted are seeking an ad-
vance which, as before, Jobbers general
ly refuse. Hides are again strong and
slightly higher at Chicago.
The market for copper is stronger FOR
lake and while domestic consumption is
heavy. the increase in Europe Is not CON
siderod encouraging.
The wooden manufacture does not yet
appear 10 have gained by recent con-
solidations or proposals. but goods OF the
finer grades are steady in price. with
moderate orders. while medium and low
grade goods tend Ia buyers favor The
demand for a few kinds has covered the
season. but makers Of the large majority
arc yet I'm need Of orders. Sales Of wool
have but slightly increased though more
inquiry is reported. with better demand
fnr-ses44e- n sie4+ies OF goods. The cotton
mills have enjoyed a fine demand OF late
and have held prices we'll but strikes
have row closed several large mills about
Providence and Norwich. growing out
of the recent advance OF wages which
the hands claim does not effect the full
restoration promised. Meanwhile cot
ton has been weaker. with better receipts
in March and poorer foreign demand.
Wheat has hcen fiuctuatiEg without
much visible reason, rumors being wildly
contradictory az usual at this season and
commanding not much more confidence
than usual. The prospect for continu-
ance of large exports Of staples has not
improved within the past 10 days.
Failures for the week have been 141
in the United states. against 222 last year
and IL in Canada against 80 last year.