The times. [volume] (Washington [D.C.]) 1897-1901, 1900-10-06
DUN's COMMERCIAL REVIEW.
Figures Concerning Failures for the
Third Quarter of 1000.

! NEW YORK, Oct 5.-Dun's review to-
! morrow will say:
Commercial failures during the third
! quarter of 1900 were 2,519 in number, and
| s27, 119, 1856 in amount OF liabilities. De-
faults of manufacturing concerns numbered
! COZ, for 81, 617, 800; OF traders, 1,779, for
| s11, 545, 140, and Of other commercial houses.
1873. for s2.544.85S in amount. Compared
with the same three .ccnths last year there
was an increase of sis in number of COM
mereial failures and $4,000 in amount
of liabilities. As the mortality was lighter
last year than at any time since 1881, tho
increase this year is not surprising nor
alarming.
That there appears a decrease Of s14,-
604,8S3 compared with the second quarter
of this year and s5.902,577 compared
with the first three months OF 1900, shows
to what an extent business has recovered
from the prostration which followed in
fiated prices and overproduction during the
exceptional activity of preceding years. The
anthracite strike settlement has been de-
layed another week, and the effect upon
business In the East is more apparent,
though distribution in the West and South
seems no less active Seasonable weather
in the East would quickly aid matters.
prices are slightly lower in wool, coal.
and sugar, but the produce and textile
markets are firm, and in al! departments OF
business an effort by distributors to in
crease transactions would quickly advance
price,. Bank clearings for the week at
New York show only so per cent decrease
from 1899 on account of the Dewey holidays
last year. and SO per cent gain over 1895.
THE most interesting financial develop
ment was the further drop Of l cent in
the pound in sterling exchange, complet-
ing decline of cents in two weeks with
out any important change in our money
market. At the same time London rates
for di7counts have strengthened mate
rally, though the Bank of England made
no charge in its rate, in which an advance
had been expected. Cotton shipments are
producing about double the exchange they
did a year ago and as the crop Is being
moved with funds shipped from New York
and without gold imports from Europe,
the net result is that New York is loaning
foreigners about half the value Of the
crop.
Most manufacturing concerns are de-
laying extensive production until after
election and are buying little raw material.
Pig iron has declined on small orders and
was also depressed by the cut in Southern
freight rates. Finished material and
structural lines are steady, and export
buying does much to prevent dullness.
SdlSS Oh WOOi DIT tue lnItt CnleI rldSicIH
markets, 3.417, 265 pounds, exceeding every
week since August, but still Insignificant
compared with last year, and Coates Bros
average price of 100 grades on October 1
was 1864 cents. against 20.37 September 1.
Wheat is steady. For the week At
lantic exports were 3252. 1874 bushels, -four
included against 3,562,062 in 1899. Lower
stocks at Chicago caused a sharp rise in
prices of pork products. Cotton prices are
maintained near the top. Mills are not
active, as the present price of raw material
is out of proportion to quotations ruling
in the goods market. Refners reduced
sugar to 5 2-4c for standard granulated,
but supplies are low.
Speculation in stocks has been active,
with sharp rise in price and large short
interest covering. London has little to sell
here, and few large operators have con-
troll of fluctuations. The advance started
with the bank statement last week, tho
smaller decrease in surplus reserves than,
expected preventing great advance in rates
for money.
Failures for the week were EOS in the
United States and % in Canada