The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-12-01
PRICES SHOW An ADVANCE
WELL, SAYS II. G. DUN'S
WEEKLY REPORT
THE BAROMETER OF TRADE
Heavy Sales of Pig Iron Are Re-
ported, and Idle Furnaces
Arc Going Into
Blast.

NEW YORK, Nov. S0-R. C. Dun &
Co.'S weekly review of trade tomorrow
will say: Commercial failures in No
vember were 500 in number and $12,30Q, SIG
in amount of liabilities against 1872 in
October, for $9,G72, 791, and $50 in Novem-
Der last year, when liabilities were only
SS,046, SIS. Manufacturing defaults were
but 1873 in number and S3,SSS,165 in
amount the bulk of the mortality oc-
curing in trading concerns Of which
6I7 failed for 1856, &jS There were forty
other commercial failures with liabilities
of $780, 1893. Four banking and financial
companies defaulted for $S2S,000 At first
glance the November statement appears
very unsatisfactory. but it must be re
membered that a few heavy failures In
wool and other textile industries account
for a large share of the reported LA
bilities. Aside from this one branch Of
trade which has naturally suffered
heavily from the Jardy approach of
winter, the figures show business to be
on a good foundation
Holiday retail trade starts off well.
The week has been characterized by
many advances in prices, but the most
significant is the small rise in boots and
shoes, which of all the great industries
has been Slowest to conform to the gen
eral Improvement. 4 larger demand for
current consumption is the report from
nearly all directions. The dry goods
trade, recovering after recent liquidation
shows business expanding, but Irregular
" and slowly. Cotton goods show the
best results; fine brown sheetings ad-
vancing from to 6.25c, bleached sh1rtings
from IA to 76Zc, and brown sheetings
from to SIC. There is little curtail-
ment Of output of cotton goods, but some
mills which usually run on export trade
are diverting machinery to light weights
fer home use. Railroad earnings for No
veuber to date show only per cent gain
over 1859 and Ill per cent over 1898
GOOD TRADE IN IRON.
Good news continues to come from
iron and steel sections. Sales Of pig iron
in three weeks have aggregated 200,O09
tons at Chicago and idle furnaces ale
going into blast, indicating much larger
capacity now than on November 1. Buy
ing of all finished forms increases and
some orders are placed at slightly higher
quotations. Railroads are purchasing
most literally and machinery is in special
demand
AS yet the advance in cotton goods is
not at all in proportion to the gain in
raw material.
The wool market is recovering from the
shock of heavy failures and sales at
three chief eastern markets increased
about half a million pounds for the week
but prices are somewhat easier parti
cularly for the cheaper grades.
Abundant estimates that the cotton
yield Will not reach 1O0O0,O 600 bales failed
TO affect prices for traders are beginning
to appreciate the fact that a decrease in
consumption is an unavoidable conconit-
ant Of unusually high quotations.
Wheat is further from a dollar than
at any time since that price was pre-
dicted by a high authority, and the usual
rumOrs of damage from jointing before
frost, fall as fat as they have done in
previous years. An ample corn crop did
not prevent a clever manipulation from
securing control of the available stocks
at Chicago, and forcing the price up to
81 cents Tor the current months delivery
Heavy receipts of cattle at Chicago de-
press the price and the average in this
market for live beef fell to $40 against
$500 a year ago