Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-06-02
DUN'S REVIEW OF TRADE.

NEW YORK, June 1.--R. G. Dun G.
Co.'S Weekly Review of Trade to-mor-
row will say:
While returns of failures in May by
branches of business cannot be given
until next week, it can be stated that
not over six months in more than six
years have shown as large defaulted
liabilities as May will show, owing to
the failure of firm principally en-
gagged in cotton brokerage. The re-
ported liabilities OF this one firm ex-
coed those Of all firm falling in every
month but one last year, and in every
fmonth but three in 1898. Manufacture
Ing failures in four weeks OF May were
only s2.4S6.543, and trading failures
S4,720,301, while failures in brokerage
and "other commercial lines amount
ed to $13,92S,S22. The decline In cot
ton to cents and the reduction OF
regular print cloths TO 3l1sc at FAN
Rlver, with outside sales at &c, indicate
that speculation in this case may nave
somewhat checked business and n
dustry.
me rapid progress OF events IN
Africa, with prospect that the war WIN
soon end and the gold supply from tnaI
region via be resumed, has naturaliy
affected both money and security mar
kets on both sides Of the ocean. Needs
OF foreign borrowing may be mucn re-
duced, and hindrance to forelsn IN
yestments here IN large measure re-
moved. But the demands upon amer
lean machine works and otner sup
plies are likely to be materially IN
creased whenever the restoration OF
industries IN South Africa begins.
The most conspicuous feature OF 40
mestic news is the steady progress to-
ward a lower level of prices for the
chief materials of industry. Without
excitement, and with very small sales
1t is believed the smallest ever record
ed in May at the three chief Eastern
markers except in 1898, prices of WOOL
have declined so that the hundred quo
tations in Coates Bros. circular would
average about PISA cents against Az
at the highest point February LIST, and
1876 a year ago. The stagnant and nes-
itating condition of the goods market
though not extending to the most favor
tie staples, which were largely sold
early in the session has caused much
irregularity in prices of goods of other
grades, so that some have been clear
ed out by concessions OF Is to 20 per
cent from the early quotations OF the
season. There is also more complaint
of cancellations, and on this occasion
In cotton as well as in wool conditions.
With prices adjusted to a lower range
all textile branches might expect
greater activity.
The decline in pig iron continues,
grey forge reaching $3.50 At Pittsburg,
No. local coke $22 at Chicago, No.
anthracite and Bessemer S22 at Phila-
delphia and Lehigh No. S21 here.
Only small changes have appeared dur
ing the week in prices OF finished pro-
ducts, but these are toward lower fig
ures There are current statements
that some Of the properties Just taken
by the steel sheet company have been
sold back to former owners, and that
properties of the steel hoop company
will be divided likewise, but it is not
at all surprising if a few out o. so
many combinations result in The dis
appointment Of some. Probably low
er quotation for Bessemer pig may be
accepted by the association in the CEN
trail region for the latter half of the
year as the closing of many works ow-
ing to reduced demand may leave these
furnaces without full employment.
The acceptance of two large con-
tracts for export, one for $500 900 by
Southern works, is good sign.
Failures for the week have been 100
in the United State, against 145 last
year, and II in Canada, against ii last
year.