Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1899-07-08
DUN'S REPORT.
~.
Largest Railroad Earnings
Known in Six Months.
Wheat Declines Three-Eighths--Corn
Export Heayy--Cotton Advances.
Weolen Goods Show Better Prices and De.
=7@ -
mands-cotien Goods Quiet.

New York, July 7.-R. G. Dun & Co.
in their Weekly Review of Trade. will
say: Failures of the first half of 1899.
with banking and financial included. as
in all other accounts published, were
4SS4, with liabilities of $40, ,G6l. Com
mercial failures were 1883, with liablll-
ties of $42, 062. 1888. of which $751;
were manufacturing and $23,Oll,3 64,
We're trading. In the second quarter,
failures were the smallest everreported
in that quarter Of % years for which
quarterly reports have been made by
this agency. The average per failure
$1165, is the smallest ever known in any
quarter; the average per firm in bust
ness, 1920, and the ratio of defaulted
liabilities to solvent exchanges, 62
cents per $1,000, are both the smallest
ever known in any quarter.
Railroad earnings for the half year
have been the largest ever known, on
100000 miles sc per cent. larger than
last year and 1913 percent. larger than
in 1892, all sections showing gains for
the year, and all but the coal roads
over 1892. June tonnage from Chicago
was IL per cent. greater than last year
and SO per cent greater than in 1892.
and for the year has been 81 per cent.
greater than in 1892.
Wheat declined three -eighths of a
cent, exports being but 2,259,021 bushels
for the week, flour included. against .
SAB. 139 last year, for both coasts. al
though Western receipts were 3.s61.523
bushels, against 6lS,492. last year.
Corn exports are twice last years, q
hprc
year for the week and the price de-
clined quarter.
The cotton movement still indicates
a greater surplus than was by any
body expected, but disastrous floods in
Texas caused a sixteenth advance.
which dispatches from that quarter do
not seem to warrant. Then loss, much
or little. would not materially affect a
years business.
Scarcity and high prices of iron and
its products can no longer be reckoned
evidence of good times. In the Shen-
ango valley six furnaces have been
stopped by n strike for 20 per cent.
more wages, and minor strikes are re-
ported at various iron works. the tin
plate strike being yet unsettled. New
orders reported continue large, being
evidently reported week after week at
different cities because not taken, but
new orders accumulated do not equal
the output of the works.
Shipments of boots and shoes We're
smaller for the week than in 1898 or
1897, although some manufacturers tell
of orders for their full capacity until
November. Hides show no change in
prices at Chicago. cattle receipts being
but 31a per cent. smaller for the half
year than in 1898.
Textile manufacturers are doing we'll
and in wooden goods prices tend up
ward with a considerably better de-
mand, but sales of 9,S2S, 700 pounds at
the three chief markets were mainly to
dealers, and the advance in price, 1857
cents per pound average for 100 quota
lions by Coates Bros, against 1876,
June 49, and 1901, May Is, does not in
vite heavy transactions.
Cotton goods show no pressure to
sell, but are quieter, and the increased
manufacture at the South is felt each
year more clearly in Northern mills.
The volume of business for the first
week of July has been $50 per cent.
greater than last year and 1919 per
cent. greater than in 1892
Failures for the week have been 119
in the United States against 229 last
year and 20 in Canada against Il last
wear