The San Francisco call., 1899-04-01
puN,s REVIEW oF TRADE.

NEW YORK. March SIR. G. Dun & Co..
in their weekly review of trade. VIII say:
Failures during the first quarter of 1899 have
been in amount of liabilities not more than
about S26. $50 $780, against Ssl, 7lo.l42 last year.
s4S. OO7, $40 in 1897 and s57525l25 in 1886 While
the later returns may Increase the amount Tor
the quarter little the complete returns. which
will be given next week. will be very remark
able in comparison with that of any previous
year. Business is not at present lmproVlns
there has been something like check, partly
the result OF heavy buying since January
TO anticipate the market partly caused py
the uncertainty about the operation of many
combinations and n shade OF doubt about Tor
eign affairs also had some influence. The new
rule of the clearing house banks at New York
about taxation of country checks also causes
some shifting of accounts. a period of tran
sition from ownership TO another and
from one management 10 another ana from
industrial system to another, where II
affects many hundred establishments through
out the country. inevitably causes some hest
tation in business A little later the many
than ever they were just before combina-
tions were effected. But at the point OF tran
sition nobody knows just what to expect
There is much withdrawal of iron business be
cause continuance OF high prices is doubted,
because the great purchases inaae by Works f
have not been met by orders and because works
affected by many other combinations proposed
are not inclined to buy more largely.
Prices are strongly maintained at Sl9 10 Tor
Bessemer pig at Plttsburg. the valley asso-
citation having sold l3O, 600 tons for delivery in
the last half OF the year at $l4 so, and grey
forge is stronger at sl4 40 but hesitation APP
pears at Philadelphia about maintenance OF
future prices. Chicago is inactive compared
with recent weeks with no sales reported
except 10000 tons at Chicago. rails are quoted
81 higher there, and as much at Pittsburg,
and the sale of 600 tons steel billets TO
the tin plate company sets prices for 1O0-pound
plate at 81 05 after July l. Structural demand
are consolidating and are not disposed TO take
large contracts although the Pittsburg mills
are asking 81 so because behind in their orders
For the plates the demand far exceeds the
supply at Philadelphia and Chicago, and the
leading mills at Pittshurg are full until
August or later. In hoops, cotton ties, tubes
and other products expected consolidation at-
fects business. Minor metals are stronger for
tin at "a cents. with consuming demand and
for copper at 1850 owing to London specula-
tion. More evidence appears that the woolen
manufacture IS not helped yet by new COM
binations or the prospect of them. and the
buying demand has been disappointing in many
ways though in dress goods active. Sales Of
wool were %. sol 200 pounds at three chief mar
kets in four weeks against S.S7TS0O pounds
last year when prices were held at the top,
rushed upward. and so. SIS pounds in 1892
when manufacture was normal indicating, a
Prices are said to be quiet for Ohio Xxx at
% cents.
The boot and shoe business is again hating
because of differences between buyers and
sellers as 20 prices.
The fluctuations of the wheat market have
been large and tend on the whole toward
higher quotations Exports at Atlantic ports.
flour included. have been for four weeks Il.
679 5l2 bushels. against 1892 495 last year, and
Pacific ports 3,963.6 .6s7 bushels, against 2,74.ll2,
and the other exports, not given last year.
make the total Il, 7l3 0S9 bushels. Western re-
-ceipts have been 12949, SIS bushels, against g.
966 S73 last year.
Railroad earnings for three weeks of March
have been Al per cent larger than last year
and 9.S per cent larger than in 1892, and the
east-bound tonnage from Chicago in four
weeks has been 43s TONS against go, sO1 last
year and 356 S65 in 1892 which indicates quite
clearly the remarkable depression in rates a
year ago.
Failures for the week have been 149 in the
United States against 220 last year. and Is in
Canada against q last year.