The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-07-01
OUN'S REVIEW

New York, June S0.-R. G. Dur and
Companys weekly review of trade, to-
morrow, will say: Failures for the sec
ond quarter of 1899 have been 2OSO in
number against $3.50 last year. with
liabilities of $2O,25O, 900 against $36 602,-
252 last year, and for the first half of
1899 failures were $4S52 against $6i66
last year, with liabilities of $4S. 900
against $71,246,78S last year. But nearly
half of the June liabilities are due to
one failure not strictly commercial,
covering some banking concerns, pro-
moter and railway equipment COM
pany for $5,136,000, in essential features
loan and trust company concern.
With it banking failures amount to
6,436,000 for the half year, leaving Tor
commercial failures $42,275,053 against
$67, 444, 6S9 last year.
Manufacturing were $16,90O.0o0 for
the half year, against 30,76S.144 last
year, and trading were $23.000o00
against $32, 956,626 last year.
The demand for iron and steel seems
to have no limit Scarcity of pig has
raised the price dollar per ton for
local coke at Chicago, $1.10 to $19.75 for
Bessemer at Pittsburg, and SIT to $3.50
for Grey Forge and Is cents to 1925
for anthracite No. 1 at Philadelphia,
with some iron selling above these
quotations at all points for early de-
livery. Efforts to get foreign contracts
out of the way are met by fresh CT
ders from Europe at last week s
prices. Some furnaces have started
with contracts for their whole years
product, but others are yet delayed.
Prices of pig average higher than at
any other time since February, 1890,
and prices of finished products higher
than since March, 1891. Billets are
hardly obtainable.
-Bar and plate orders are refused quite
largely because works are oVercroWd-
ed. Sheet mills have much stronger te-
mand at the west, but less at the east
and structural works report 26.OO0 tons
required in two new eastern contracts.
The continuing demand in spite of ris-
ing prices, astonishes everybody.
Coke ovens H. 33 at work put out for
the week $4,000 tons, the largest week
ever known at Connellsville. Tin IS
stronger at rs cents and copper at Is
cents for copper, but lead is dull with
no hope for the Colorado strike. An
other industry passes all records. boot
and shoe shipments from the east,
400,S13 cases, exceeding those in any
other month of any year for four
weeks. and the demands for speedy de-
livery show enormous distribution in
all directions. New orders are large
and several months ahead.
Wool sales, 367, 700, 900, of which $751;
900 were domestic, reveal speculation
scarcely less obtrusive than in 1897,
when Al, 197, 900 pounds were sold in the
same week against 23,768200 in 1892,
when the mills were well employed.
The whole story is told in the claim
that manufacturers cannot absent
themselves from the market much
longer They are manufacturing large
ly without buying much wool, ana
have improving demand for cloths
Cotton mills are doing we'll IN spite
of the fall in cotton as the demand
gives them enough to do at current
prices, and weak spots in the trade
are defended by the agreement be-
tween Fall River mills.
Wheat receipts at the west in four
weeks have been 21,691, 536 bushes
against ALL, 625 last year, and western
receipts in June ranged between 1874, :
52S bushels in 1894 and 9,551,27S in 1896.
Beyond question the farmer and the
Spectators and elevator owners IN
farming regions believe that about ~
cents here is as much as the old wheat
will fetch, although exports have been
for four weeks S,949S3S bushels from
Atlantic ports against 15,012,6S7 last
wear and 2.445749 for Pacific
ports against 1,S29,709 last year.
It is not surprising that with
such receipts the price has dropped
/ 1-2 cents and corn fell cents with
exports in the current week, ll,oSaooo
bushels against 12,S76403 last year.
The cotton market is also weak with
heavy receipts and great crop pros
poets and declined 1-16. Failures for the
week have been 1S1 in the United
States against 254 last year, and 20
in Canada against is last year.