The sun., 1900-10-06
THE STATE on TRADE.
Comment by Dm's Review on the
Business Of the Week.
PRICES ARE LOWER IN IRON.
Most Manufacturing Concerns Re-
ported Delaying Extensive Pro-
ductiOn Until After Election and
buying Little Raw Material.

New York, Oct. 5.-R. G. Dun & Co.'s
weekly review OF trade says:
Commercial failures during the third
quarter of 1900 were 2,519 in number
and S27, 1886 in amount of liabilities.
Defaults of manufacturing concerns num-
bered 6O7 for $12,617,390, of traders
Ito for $11 ,545, 140 and of other com
mercial 133 for $2,957 ,4GG. Financial
failures We're II in number and $5,344,-
S5S in amount Compared with the same
three months of last year there was an
increase of 51S in number of commercial
failures and S9,479,024 in amount of lia-
bilities. AS the mortality was lighter
last year than ut any time since 1881, the
increase this year is not surprising nor
| alarming. That there appears decrease
| of S14 ,604,S compared with the second
quarter of this year and So,9O2,3I1 COM
| pared with the first three months of 1910
| shows to what ali extent business has re-
| covered from the prostratiOn which fol
! lowed inflated prices and ovcrproduction
during the exceptional activity of preced'
| ing years.
The anthracite settlement has been de-
lnycd another week, and the effect upon
| business in tho east is more apparent.
| though distribution in the west and south
seems no less active. Scasonahlc wealth
or in the east would quickly aid matters.
Prices are slightly lower in iron, wool,
coal and sugar. but the produce and tex
tile markets are firm, and in all depart
mrnts of business an effort by diStrib-
uters to increase transactions would
quickly advance prices.
There is little ordering ahead in any
Kind Of merchandise, but steel railmakers
look for contracts for about 2,0t0,0OO
tons after election. Rain is needed III
the south and on the north Atlantic
coast but in the southwest rains have
checked cotton picking. Bank clearings
| for the week at New York show 80 per
cent decrease from 1899 and 50 per cent
gain over 1893, and at the leading cities
outside New York there is Z per cent
decrease from 1880 and 15.9 per cent
gain over 1S!)S.
Little Raw Material bought.
Most manufacturing concerns are de-
laying extensive production until after
election and are buying little raw ma
terial. Pig iron has declined on small
orders and was also depressed by the cut
in southern freight rates. Finished ma
terial and structural lines are steady, and
export buying does much to prevent
dullncss. Contracts for cars bridges
and plates for ship building were signed
during the week, and rails We're sold at
S26 to domestic roads, while small
amounts were taken by Italy Boot and
shoe factories are more actively en-
ploycd on rush ORDERS confirming the re-
ported reduction of stocks, but spring
contracts are postponed. Sales of wool
mt the three chief eastern markets were
3.417 ,265 pounds. exceeding every week
since August, but still insignificant com
pared with last year, and Coates Bros.
quotations of 100 grades on Oct. | was
1861 cents against 2o.3T Sept /.
Wheat is steady. For the week Allan
tic exports were 3,252,994 bushels. iloul
included. against 3,562,0 in 1899 Aft
or the end of September there was a de
cline in the price of corn for the curren
months delivery, but elevator prices re
manned firm. and receipts for The weel
We're only l,S4OSO2 bushels agnins
7.GIg,1lO last year. while Atlantic cX
ports We're 2,lll,GlO bushels agains
2.9)2. 2232 4 year ago. lower stocks Il
Chicago caused sharp rise in prices o
pork products. Cotton pticcs are main
taincd near the top. Mills are not ac
tive, rs the plrsent price Of raw matera
IN-ou' VI pl"Il"t" ~ pH"t"tl'lIH IullH%
in the goods market Reincrs reduce
sugar to 53l cents for standard granu
lated. but supplies are low.
Speculation in stocks has been active
with Il sharp rise in prices, largo shor
interest covering. London has little {,
sell here and few large operators have
control of fluctuations. Tho advanc,
started with the bank statement lass
week, the smaller decrease in surplus re
serves than expected preventing grca
advance in rates for money.
Failures for the week were Dos i'll the
United States against 134 last year ant
% i'll Canada against 20 last year.