The record-union., 1899-05-06
Were the Smallest Since Any Records by
Months Begun.
New Business in Amount Which
Two Years Ago Would Have
Been Astonishing is Still Conn
ing Forward, and the Voluntary
Advance in Wages by Many
Manufacturers Shows Confi-
dence in the Future.

NEW YORK, May Or. G.. Dun q
Co.. in their Weekly Review of Trade
Tomorrow viii say
The failures in April were the small
est in any month since records by
months began, IS per cent smaller than
in April last year. not a third of the
amount in 1897, and not half the
amount of April of any previous year.
Both in manufacturing and trading
they were the smallest ever known in
that month, and in trading the smallest
ever known in any month, as in manu-
featuring they were, if the larger fail
ures were omitted. The ratio of default
ed liabilities to solvent payments
Through the clearing houses was less
than 10 cents per 81 ,O00 against 50
cents. in January and $1.19 in March,
$1.S9 in August and $500 in Septem-
Der, 1896 A great share of the risk
of business of the world has been elm
mated.
1t is not inconsistent nor strange if
business halts, because it has been
crowded to the utmost for four months,
in anticipating future needs on account
of new combinations proposed IN
some cases prices have been advanced
so far as to check new business, and in
others works have been engaged so far
ahead that new orders cannot be taken.
Yet new business in amount which
would have been astonishing two years
ago is still coming forward, and the
voluntary advance in wages by the
firms of the central association and by
the Prick Coke Works, whose ship
ments in April (30,452 oars) We're the
heaviest ever known, show confidence N
the future.
AT Buffalo and in Idaho strikes are
causing trouble, but labor questions
elsewhere do not affect general business.
The grain movement has fallen off,
only 2464, 14S bushels having been re-
eeived at the West during the week,
against 4, 100, 519 bushels last year, and
of corn only 2612, All bushels have been
exported, against 1 541, 149 bushels lest
year, while wheat exports from both
coasts have been better, 3,545,15 bush
els, -four included, against 1854. 231
bushels last year.
Nearly all iron works are crowded for
months ahead, but a good many are
catching UP with their orders, which
have recently diminished. The report
that all the great companies are to be
melted into one influences the stock mar
ket, but is still scarcely credited, and
the raising of foreign prices, where
American competition is no longer felt,
is sugg estive.
Wool sales for the week have been
1arge-S, S59, S53 pounds-owing to sales
of over a million pounds Australian in
bond for export and heavy speculative
purchases Of Territory The wool year
ends with heavy stocks on hand, and
prices about 10 per cent lower than last
year. British prices averaging about II
per cent higher for Australian fine but
about 10 per cent lower for English and
cross bred woods. Sales of domestic
woolin four months have been So, 593, 1135
pounds, more than in any year except
ing 1897, when spectators were taking
IN the heavy stocks which some of. them
have Recently been selling at a loss, but
sales of foreign have been 81, 125. SOB
pounds for the year, against 90, 264 $50
pounds in that year
The market in goods is a little strong
er, with an advance in clay mixtures.
but in general is waiting for the out
come of new combinations and about
some of these there is still doubt wheth-
err they will be completed. The worsted
combination has gone into operation,
but without Interfering with deliveries
OF goods under previous orders. The