The times. [volume] (Washington [D.C.]) 1897-1901, 1900-07-14
DuN's REVIEW OF TRADE.
Great Rapidity Shown in n Chang,
Toward Normal Prices.

Great RADfdfty shown in Change
Toward Normal Prices.
NEW YORK, July 13.-Dun's review
tomorrow will say:
"If the great increase In failures to
s100.510.134 in the first half Of 1900 against
s49.664.s61 last year. and especially to
siS.s95.079 in the second quarter against
s2l $685. last year. gave no occasion for
diligent search, failure returns would be
worth nothing.
But today 1t is shown that 90 banking
failures for s25. S22. $50 against 81 last year
fer 1851. 72S, accounted for much OF the
difference; that 265 brokerage and real
estate failures for SO. 122 346 against 145
last year for only S2.32s 215 accounted
for another part. and that in building and
lumber working and trade other large fail
ures distinctly connected with those in
real estate explain much more Of the diff
ference between manufacturing and trad
ing failures last year and this. There APP
pears ground for especial satisfaction that
business has been on the whole so soundly
conducted under conditions of unusual
danger.
Rarely has there been more rapid
change toward normal prices than OF late.
and yet July failures thus far show rot
one OF s1G0 600 or more except In real
estate building. lumber, and cycle or au-
tomobiles, leaving a few manufacturing
failures for s252, S73. and trading failures
averaging hardly $1,000 each. The volume
OF domestic trade continues greater than
in any previous year outside New York
and Boston, at those cities exceeded only
by last year in the heat OF excitement
about securities. Foreign exports. Cor the
first time exceeding 1,i00, 600, goo in the
year just closed. are in July per cent
more than last year, with imports IA per
cent larger.
THE Iron Age" makes the output Of Zig
2S3,4l3 tons weekly July l. but the dscreass
OF 10000 tons has by this time been ex-
ceeded. other furnaces having st-pp5d his
month and repairs of works and OF wsge
scales may yet occupy some weeks. Open
markets are now admitted at Pittsburg.
where quotations have teen for some time
nominal. and Bessemer pig is offered there
at SIS. Structural makers decide not to re-
duce prices.
Cotton speculation has held the price too
high for the comfort of foreign spinners.
who have not provided for all their waits.
but the arrangement by the Fall River
committee to close for month or more
large part of the New England rzilis viii
clear away the dispute about the market
for goods There has been only about per
cent decline from the highest point ard
the mills probably have on hand aboct 20
large supply of staples as they wish 10
carry. The wooden manufacturer is in TO
better condition.
THE constant testimony as to the volume
of business is given by railroad earnings.
which In June were Si7 ,295.2 on United
States roads. 90 per cent larger than last
year. and 2I.0 per cent larger than in 1895
Stocks have improved but moderately. he
average having advanced for the week only
II cents per share. while industrial stocks
show a small decline. ~ CO.
Failures for the week have been 195 N
the United States, against 1863 last year,
and 26 in Canada. against "a last year.