Barre evening telegram. (Barre, Vt.) 1898-19??, 1899-06-03
THE FAILURES OF MAY.
Dun's Review Finds Them Lowest on
Record For Any Month.
IRON FAMINE GROWING YET.
wheat Rises and Falls During the
week on All Sorts of Reports.
Reaction In Railroad Stocks
and Industrials.

New York, June 3.-R. G. Dun & Co. q
weekly review Of trade says:
April failures were the smallest ever
reported in any month. May failures are
nearly $2,OOO,OOO smaller, only 62.8 per
cent Of the smallest previously reported
IN any month and only 34.3 per cent OF
those in May last year. Solvent pay.
ments were $8,32S, 202, O52, and defaults
were $3,S20,68 or 45.7 cents on $1,000,
against 70 cents in April, $1.19 in March
and $500 in September, 1896. Compare
son with previous years indicates that
the ratio of defaults to solvent business
has never been as small in any other
month as in May, 1899.
Both in manufacturing and in trading
failures were the smallest ever known in
any month. and in each br:uch 8 of the
IA classes showed smaller failures than
in May Of any other year. There were
only two failures for 100000 or more,
in amount $685. 900 against S3,51O,OOO
for such failures in the smallest previous
year, but the little failures were also
fewer and smaller than ever before.
More than 20 years ago the demand
for iron was called the industrial barom-
eter, and it claims the place yet when
the demand passes all belief Many
more furnaces have gone into blast, and
yet the famine grows more severe. Pig
has risen this week so cents to 81 at
Chicago, and Grey Forge % cents at
I'ittsburg, Billets actually selling there
for 80 more than the standard price for
steel rails. Plates are SO needed chat
IS premium is paid for June or July de-
Livery. Structural works are far behind
and are expected to advance prices.
Sheet works cannot fill orders. Pig
iron has advanced 8.6 per cent in May,
and finished products 2.6 per cent.
Fluctuations of Wheat.
Wheat has been lifted TIGHTLY on all
sorts of reports and then dropped, clos
ing ! cent higher than last week. Re
turns for the broken week indicate little,
except that western receipts are still
quite large, 4,15G,OG9 bushels, against
4,263,520 last year, and they would hard
~ be as large if actual supplies at the
west were deficient. considering the eX-
IRENE urgency OF demand which last
years fancy prices created. Exports
from Atlantic ports have been 2,54O. 7S3
bushels. -four included. against 1924, 49S
last year, and 27l 800 bushels from Pa
cifc ports. against 3S5. 439 last year. and
in five weeks from both ports l3,81O,SSU
bushels. against 1891, S1l last year.
Stocks were so strongly sustained after
Ex-Governor Flowers death that liquida-
ton and reaction little later We're ex
pected by people Of experience aud have
come. The average price OF railroad
stocks fell $1.3l per share during the
past week, mainly In street railways, and
the average for industrial stocks declined
$1.7S per share, reaching lower level
than the lowest on May 18th, when ex-
Governor Flowers death was announced.
There are good foreign buying Of railway
stocks and remarkably heavy and encour-
aging purchases of bonds.
Failures for the week have been 143 In
the United States against 222 last year,
and IA in Canada against 10 last year.