Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-02-04
DUN'S REPORT.
Number Of January Failures
Much Below Average.
Wheats Decline Of Five Cents Most
Remarkable Feature Of Week.
Cotton Market Strong Advance in Wool IRON
industry Still Rushing.

New York. Feb. 3.--R. G. Dun & Cos.
Weekly Review of Trade, tomorrow
will say: Failures in January were
smaller than in any previous month
except August. 1898, and July. 1897.
The manufacturing failures were the
smallest except August. 1898. There
were only seven failures for 100000 or
more. and the average liabilities per
failure is smaller than in January of
any other year. Considering that jan
uafy is usually one of the largest
months of the year in failures. the re-
turn is surprising as we'll as encourag-
ing.
There is an epidemic Of consolida-
tons. Never before have so many or
CARNATIONS of that sort been in ope-
ration or in progress. While ignorant
prejudice condemns all. though many
are beneficial. it seems probable that
the business it at present over done.
The most remarkable feature of the
week has been the decline of five cents
in wheat, with only half cent in corn
and only a sixteenth in cotton. me
government estimate of the wheat
crop, 675.OOO.000 bushels has more in
fluence than any other from that source
for number of years because 1t is rec
ognized as the result of great efforts
to get at the truth and is therefore
considered about the lowest estimate
admissible.
With ordinary consumption and
present exports of 150.U00,0O0 bushels
from the crop of 1898, flour included.
there will be less than 100000 900 bush
els for replenishment of stocks, for
farmers holding and for exports in the
next FIVE months, and the exports of
4942, 436 bushels, flour included. from
Atlantic ports. against 3.094511, last
year. and 1850 from Pacific ports,
against 776.S40. last year. besides 3O9.-
S55 from Duluth and Portland Me-,
shows a stress of foreign demand which
may we'll excuse some recovery in
prices.
\ very strong market for cotton
goods has prevailed. and prevents raw
cotton from declining. The advance in
goods has been unusual and is sustain
ed by the heavy buying especially of
print cloths and kindred products.
The prospect is that the outgo will
place dealers and manufacturers in
stronger position than they have held
for years, with smaller stocks of goods
unsold.
A better tone appears in the wooden
goods market also with some impor-
tant grades which were opened at n
great reduction in prices recently adj
vanced. which has stimulated the de-
mand for all grades. Sales Of wool
have been fairly large. 80. 152, 400 pounds
for the year thus far against 36,7S2, 40,
last year
The iron industry is advancing prices
of products rather than of materials.
Pig has remained without change, this
week. anticipating six of seven fur
naces will be put into blast as soon as
possible. The demand is strong but not
apparently urgent at the chief mar
kets. Eastern bars and plates have ad-
vanced with very heavy demand. and
cut nails have been hOiSted by the as
ISOLATION of makers. The rush of Or
ders for the future does not cease, and
the works are generally covered for
months ahead with more orders for
ships, steel cars and for exports. IN
the minor metals the speculative fever
at London has caused considerable ad-
vance and the tin plate combination
has advanced prices % cents.
Failures for the week have been pa
in the United States, against 333, last
year, and % in Canada, against 80, last
year.