The times. [volume] (Richmond, Va.) 1890-1903, 1899-04-01
THE COMPARISON
IS REMARKABLE.
Liabilities in Failures During the First
Quarter Of the Current Year.
BUSINESS HAS RECElVEDA CHECK
No Present improvement Noted. Partly
Owing TO Recent Heavy Buying
and and Partly 20 Uncertainty
as to the Big Combinations

NEW YORK, March SIR. G. Dun &
Co, In their Weekly Review OF Trade,
Will say.
Failures during the hrsi quarter OF
1888 have been IN amount OF n~oilties
not more than about s-tosV.S5V, ssa'hs.
sSl. 7o.l42 last year, S4s, O0;. s.0 IN 1881. ana
s57525ls5 In 1896 While the later re
turns may increase the amount FOR the
quarter a little, the complete return
which Will be given next week Will be
very remarkable In comparison with That
of any previous year. Business Is not al
present improving. There has been some
thing very like d CHECK, parity the result
Of heavy buying since January nrst 10
anticipate the market, partly caused by
the uncertainty about the operation o!
many combinations and d shade OF douo,
about foreign affairs also had some IN
fuence. The new rule Of the Clearing
House banks at New York about taxation
of country checks also causes some
shifting OF accounts.
CAUSES HESITATION.
period of transition from one cwner-
ship and management to another. and
from one Industrial system to another
when 1t affects many hundreds through
out the country irevitsbiy causes some
hesitation in business. A little later the
many hundred concerns may he doing
moro business than ever as they were
just before combinations were effected.
But at the point OF transition nobody
knows just what to expect.
There is much Withdrawal of iron be-
cause Of the consequence of high prices
is doubted. but the output of many
works have not been met by orders and
because works effected by many old COM
binations and proposed are not inclined
10 buy more largely. Prices are strongly
maintained at $l5I5 FOR Bessemsr pig
at Pittsburg. the Valley Association
having sod 10000 tons for delivery in
the last half Of tho year ut $3.50 and
Grey Forge Is stronger at $40. but
hesitation appears at Philadelphia about
maintenance OF future prices. Chicago
is inactive compared with recent weeks.
With no sales reported except 0oO0 tons
at Chicago. rails are quoted 81 higher
there and "a much at Pittsburg. and the
sale Of 10000 tons steel billets TO the
tin plate company sets prices for 100
pounds plato at $3.50 after July lst
Structural demand increased but bar
mills at the west and south are consoli-
dating and are not disposed to take
large contracts although the Pittsburg
mills are asking 81 so because their orders
exceed their capacity for supplying them.
For plates the demand far exceeds the
supply at Philadelphia and Chicago and
the leading mills at Pittsburg are full
until August or later. In hoops. cotton
ties tubes and other products. expected
consolidation affects business. Minor
metals are stronger for tin q "a cents.
with consuming demand. and for copper
AT 115 cents owing to London specula-
ton.
DOES NOT HELP WOOL.
More evidence appears that the woollen
manufacture is not helped as yet BY new
combinations or the Prospect Of :heH.
and the buying demand has been dissp-
pointing in many ways. though In dress
goods active. Sales Of wool were ~ Sl9-
100 pounds at the chief markets in four
weeks AGAINST S.s77. 500 pounds last year.
Then prices were held at the top. %. $50 2c9
in 1897. when prices were being rushed
Upward and so e32. $40 rounds in 1872. when
manufacture was nominal indicating a
var but not extraordinary demand for
goods. Prices are said TO be quiet for
Ohio. rs cents. The boot and shoe busi-
ness is again halt.ng because OF difference
between buyers and sellers as 10 prices
The fluctuations of the wheat market
have been large and tendancy on the
whole toward higher quotations. Exports
from Atlantic ports have been for four
weeks. 1l679.512 bushels against 9792.6a
last year: Pacific. 3.9e3.6s7 bushels against
2.77i112: and the other exports not given
last year make the total I1.3l7.0s5 bushels
Western receipts have been 1294a.sl5
bushels against 1865 37S last year.
Railroad earnings for three weeks OF
March have been Al per cent larger
than last year and 90 per cent. larger
than i'm 1892. and the eastbound tonnage
from Chicago in four weeks has been 49,
AIS tons. against 622 sol last year and S56.-
S65 In 1892. which indicates quite clearly
the remarkable depression in rates year
ago.
Failures for the week have been 1871
in the United States against 22o last year
and % in Canada against q last year