Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1899-12-30
BUSHES PROSPEROUS.
Dun's Review said 1t Was Thoroughly
Safe In Spite Of the Bos-
ton Failures.

NEW YORK, Dec. Boz. G.. Dun q
Co IS weekly review Of trade issued to-
day said in part:
No correct seport OF failures in 1899 can be
made until the year has closed. A collapse of
speculation IN copper stocks has swelled the
aggregate at Boston alone over sI5gJJJo1
within few days, and might yet add to the
record. The failures thus far reported are
fewer in number than In any year since Is i.
and smaller in amount of commercial fiabifi-
ties than IN any year since 1881. The aggre
gate Of defaulted liabilities i si20, 1900, bnl
nearly two thirds Of the banking liabilities
Were added within few days the aggregat
reaching about s5190J.Doj. The commercial
liabilities have been about s1J 80 90, thous n
ex act returns for few recent failures are not
yet obtainable No other years except 1881.
with defanlted liabilities OF ISL ,l5J,9j.. and
1885, with s657o2.0DJ, have failures bsen AS
small since I he agency commenced quarterly
returns in 1875. The average of Liabilities per
failure is less than SJ,5J0 the smallest in any
year OF the 70. a gratifying evidence that com
mereial liabilities further removed thar
usual from the point of danger.
The week has been exciting only at Boston.
where the failures growing out of speculation
and the efforts to re establish banks III d firms
suspended have not given the week hoiiday
character Yet general business is thorough
ly safe and prosperous and no important firms
have failed save some which were indiyidu-
ally connected with concerns involved ID
spec ulation
the speculative troubles come because the
volume of legitimate business. and the I'm
precedented distribution of profits interest
aud dividends, male 1T no longer possible TO
carry some STOCKS on borrowed money Pros
perity itself placed check on speculative
ventures.
Wheat and cotton speculation has taken a
holiday, prices scarcely varying, and the
movement of both is surpr lsiagly small The
corn exports continue about as large as last
year.
The Industries are closing the most remark
able year OF their history. Long established
branches have undergone veritabie recon
struction. vastly increasing their capacity.
white new IN lustries when scarcely eXlsee...
"a year or two ago. have enlisted IL vast capi-
tai. altered modes OF business and of produe
ton IN almost every direction and improved
conditions for the future almost beyond cal
cuiation. Electrical developments in light,
heat and power, making cataract WORK.
performing wonders in production of materl-
| ais and providing trans portation all over the
land deserve especial attention.
For sucn reconstruction the increase in de-
mand for iron and steel products is the great
feature of the year. With 4i9.733 tons unsold
and 24o,5l6 produced weekly Jan. l. numbered
by severe weather SO that the output Marcn
dropped l3,UJU tons, but expanding in every
month afterwards. the industry IS now pro-
duclng about J0J, OJJ tons weekly, and unsoId
stocks reduced to lz2.92J tons. anu yet or
ders untitled will require six to nine months
work from most of the establishments. Prices
have not changed the past week. though de-
Eand tor products improved little.
The average of prices closes 1875 per cent
higher than Jan. | for pig and 1923 per cent
higher for products.
Industries which depend on individual con.
sumption have gained less, though more than
population. Wool has been raised by specu-
laIlon per cent, but has been very largely
consumed with great demand for goods. wh4c h
have advanced but IL per cent. stocks now
held are said TO be I5I 29o5i9 pounds.
Failures for the week nave been 221 in the
United states, against 90 last year, and % in
Canada, against " last year.