Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-06-08
THE BUSINESS SITUATION.

f. G. Dun & Co. IS Royiew for last
week says: April failures were the
smallest ever reported in any month.
May failures are nearly $1,000, 600
smaller, only SO. s per cent Of tho smallest
previously reported in any month, md
OILY 34.3 per cent of those in May last
year. In dealing with times like these
tho chief difficulty is to avoid the ac-
cents of extravaganza. In actual pay.
ments through clearinghouse business
is sc per cent larger than last year,
and 49,. per cent iarger than in 1882.
In railroad earnings, Notwithstanding
differences In rates, business is 81 per
cent larger than last year, and 21.3 per
cont larger than in 1899. Wheat has
been lifted TIGHTLY on all sorts Of
reports and then dropped, closing
cont higher than last week. Returns
for the broken week indicate little ex.
cept that Western receipts arc still
quito large, 4, 156,0 69 bushels against
4, 263. 500 last year, and they would
hardly he as large IL actual supplies at
tho West wore deficient, considering
tho extreme urgency OF demand which
last years fancy prices created. Ex-
ports from Atlantic ports have been
2,549, 7S3 bushels, -four included,
against 4, 294, 49S last year, and 271, 929
bushels from Pacific ports against
1888, 439 last year, and in five weeks
from both ports 1880, $50 bushels
against 1897 81 last year. -
Bradstreet's, in today's issue, says
that ''in industrial lines the demand
for and strength Of iron and steel are
the most interesting features. Heavy
sales Of the cruder forms are reported
this week for fall delivery, and prices
are higher all around, from 80 cents to
81 per ton on pig iron, nearly all classes
Of steel, rails and finished products
generally. Further progress in the
constellation movement is reportable in
this industry, a number of tube mills
having pooled their interests.
'Advices from many cities OF great
aotivity in building find confirmation
in the continued heavy demand for
lumber, building hardware and other
materials. Prices of the former staple
are firmly held, and the only indicated
changes are in an upward direction.
Advices from the shoe trade are favor
able, and leather and hides are firm.
The wool trade is in an interesting
position just at present, because manu-
facturers are still backward in placing
orders, and the recent speculative buy
Ing has not reduced domestic stocks
materially. The reverse is true, how
ever, of stocks of foreign woods, which
have been depleted by recent re-exports
of Australian sorts. Refined sugar is
in especially good demand, and the ad-
vance Of the fruit season foreshadows a
large business in the near future. Bank
clearings for May furnish another very
large aggregate, and show such heavy
increases over corresponding months in
previous years as to prove that the
general business of the country is being
maintained in enormous volume. lndi-
yidual increases, too, are numerous and
heavy in most sections Of the country,
and the result lie an aggregate of bank
transactions for the month only ex-
ceeded by two previous months in the
history of tho country. The total clear
ings at seventy four cities for the month
amount 30 SS,3l3, 375, 47s, fractional
increase over the aggregate for the pro-
ceding month of April"