Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1899-05-09
AN ERA Of COMBINATION
Popular Move in the Trade and In
dustrial World to Consolida-
ton Of Interests.
GIGANTIC IRON AND STEEL COMBINE.
General Evidence Is That the Ag-
sresate Is In Excess of Last Years
Large Salcs-Reviews of Bradstree4
ana II. G. Dun & Co.

| New York, May S.-Bradstreet's says:
THAT this is indeed an era of trade and
industrial combination seems evident from
the long list of announcements of new con-
solidations, rumored or actually afloat,
coming to public view this week. Whether
| This tendency has as yet reached its Gull
mination cannot, of course, be easily pre-
| dicted but in some lines of industry, the
would seem to have left little room for
| further operations of this kind. Easily
| first in this direction is the gigantic iron
and steel combination, announced with
seeming confidence as in process of forma-
ton Second only to this, however, is the
actual floating of the great copper COM
| bination. Outgrowths as these great COM
| binations are of immense Industrial
changes in many lines, they possess a spe-
cial interest in the world of trade and
| finance because of the immense aggrega-
| tons of capital or Industry involved in
their projection or their carrying out to q
successful finish.
While wholesale trade continues of a
between-seasons volume, every general evil
dence is forthcoming that the aggregate
Is in excess of last years undeniably good
proportions, and retail demand is of an en-
couraging character. That the volume of
fall business booked is in excess of the
average is very generally conceded Ad-
Vances in prices and reported great ac-
tivity abroad point to the widespread de-
MANU- lOF IRON ana steer ana render less
doubtful the hold of American products
on foreign markets. The tone of general
values Is notably strong for the season
or the year, prominent exception being
pork and hog products generally, which
have been the subject of bearish manipu-
lation.
Cereals are generally firm, cash wheat
being fractionally higher at the seaboard
on interruption to movement by the water
route. caused by the grain handlers strike
at Buffalo. while option business is in a
waiting stage pending the government re-
port on wheat condition and acreage next
week. A special feature this week Is the
activity in building and in real estate re-
ported from number of widely separated
sections, and lumber and building materials
generally are consequently firm or tend
ing upward"
As Viewed by Dun.
r. G. Dun & Co. in their weekly review
of trade say: THE failures in April were
the smallest in any month since records
by months began, IS per cent. smaller
than in April of last year, not third of
the amount in 1897, and not half the amount
manufacturing and in trading they were
the smallest ever known in that month,
and in trading the smallest ever known in
any month, as in manufacturing they were
II the largest failures were omitted. The
ratio of defaulted liabilities to solvent pay
than 70 cents per $1,000 against 80 cents in
January and s1.19 in March, s7.S9 in Au-
gust and $500 in September, 1895. A great
share Of the risk in the business world
has been eliminated.
1T Is not inconsistent or strange If BUSH
ness halts. because 1t has been crowded
to the utmost for four months in antici-
patfng 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 as
tonishing two years ago is still coming
forward, and the voluntary advance in
wages by the 16 Bessemer firms of the
central association and by the Frick coke
works, whose shipments in April, 30,452
cars, were the heaviest ever known, show
confidence In the future At Buffalo and
in Idaho strikes are causing trouble, but
labor questions elsewhere do not affect
general business.
months ahead, but good many are catch
ing UP with their orders. which have re-
Gently diminished. The report that all
the great companies are to be melted into
one influences the stock market. but is
still scarcely credited, and the raising of
foreign prices where American competi-
ton is no longer felt is suggestive. Pig
Is nowhere higher, nor has any class of
finished products established higher prices,
though in many the demand exceeds sup.
plies.
Shipments of boots and shoes from the
east in five weeks have been but 1913 per
cent. larger than last year. IA per cent
larger than in the next largest year, 1885,
and "A per cent larger than in 1892. Fac.
tories are busy with orders for months at
old prices, and 21s cents advance is paid
on new orders for several grades. But the
only change in leather is small advance
in union soles. and hides are half of per
cent. stronger at Chicago.
Failures for the week have been 1853 in
the United States, against 23S last year,
and 23 in Canada. against 25 last year"