The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-14
GREAT DANGER FAILED
TO UNSTEADY BUSINESS.
LARGE INCREASE OF FAIL
URES OVER LAST YEAR.
Commercial Disasters Attributed
To The Jump in Prices Twelve
Months Ago.

New York. July l3--R. G. Dun & Co.
| Weekly Review of Trade tomorrow viii
say:
If the great increase in failures to Sloo.-
| 57o l5i In the first half of 1859, against
$iy.5ji.6eI last year, and especially to siS,-
S.2.019 in the second Quarter. as against ST.
cas- $50 last year, gave no occasion for dill
gent search, failure returns Will be worth
nothing. But to-day ii is shown that thirty
| banking failures for $2S.s22,ss2. as against
| tairty-onc last year for S,,51l.'N. accounted
| for much OF the difference; that 26o broker
| age and real estate failures for 81. ls2.3,o.
| as against rs last year for only sZ.52S,2l5.
| accounted for another part. and that in
! building and lumber working and trade 9TH
| er large failures distinctly connected with
| those in real estate explain much more OF
/ tn difference between manufacturing and
| trade failures last year and this.
In thes- and much less important
| changes IN n few other Inns are seen sub
| stautiaily all the commercial disasters as
Yet resulting from an amazinS Use in prices
| last year. followed 10y weary but largely
SuC.,y ssiUi efforts during the past lew
months L. get TO It normal state of business.
VI len this Is seen ana thr remarkable stead
iE,.ss in number and size OF the great ma
j,rity of failures. 10. for exceptional
amounts. there appears great ground Tor
especial satisfaction thit business las been
SO spUrdIy cc1duCteu uuu,r Conditions u
unusual danger.
steel Mills Closed.
The Iron Ak. makes the output of pig
81. il3 tons weekly June /, nut tine decrease:
oi 1890 tons has ny this time been ga
CceGct. other furnaces having stopped tnis
month ami repairs Of Work ana of wage
scales may ye; occupy some We Ks.
The increase of $500 la tons Of stocks
unsbiG implies decrease in manufacture
than lofIbl,. de al
works Il five oi the great corporations are
WaltIn. for decline M wages just when
the workers have looked for increase. open
markets are now admitted at Pittsburs.
where quotations have been tor some time
nominal and Bessemer pig Is offered there
~ sid. Structural makers decided not to re-
Guce prices, but steel bars there and plates
at Philadelphia are said To have sold ut
II. 10 in some cases
Coke works. about ~ per cent Idle, have
no demand now. and I'm contracts it IL said
that even $50 will be shaded.
Cotton speculation has held the price too
high for the comfort OF foreign spinners.
who have not provided for all their wants.
bu; the arrangement by the Fall River
committee to close for a month or more, a
large part of the New England mills Will
clear away dispute about the market for
goods. The wooden manufacturer is in no
better position, with some of the best mills
closed in part or wholly on account of the
uncertainty Of demand.
Wool Growing Weaker.
wool is growing weaker.and even offered
by some WesterneIs at prices which were
refused not long ago. but the mills do not
yet know what goods they will be able t.
sell. and from a temporary idieness there
seems To be no escape.
prices of shoes are not weaker. but 4
larger proportion OF the makers appear dis
posed to make concessions already men
toned. SO light is new business that job
bers seem to have modified their views.
Leather grows weaker. though kid has
held steadily. owing TO decreased produc-
tinn. Splits are a little lower. but most
upper leather is steady.
The end Of the crop has brought the us
ual estimates. which command more
confidence than usual. If the country can
get out OF a Crop officially called 5f7.000o1
bu. all il wants for food and seed and 2fc.-
ESQ go bu for export, with considerable left
over IN sight. il is the easy inference that
anxiety is needless.
There Is no evidence as yet. and for
some time to come cannot be. that injuries
sustained have been as great as some sup
pose, so that alarm is not more necessary
than IL was last year.
Failures for the week have been 1876 in
the United States. against 1853 last year and
70 in Canada, against "a last year.