The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-03-03
TRADE OF COUNTRY
IL. G. DUN & CO.'S SUMMING UP OF
BUSINESS CONDITIONS FOR
THE WEEK
OUTLOOK IS ENCOURAGING
FlSure" On Recent Failures Are
GiVen' Together With Their Pos
sible Effect on the Commercial
World-WhiIe Amounts Are Large,
causes Offset the ShOwing-IrOn
and Steel Still BuOyant.

N~"Ses unset the ShOWing-IrOn
and Steel Still BuOyant.
NEW YORK, March 2-R. G. Dun &
Co.'S weekly review of trade tomorrow
will say:
Besides the 8S1 commercial failures for
$9'9Sl,OIS which were reported today. there
were In February six banking failures for
SOzVlzl' and receivers were appointed for
the United States Flour Milling COM
pany, with $25.OOO.O 900 of stock and S15, OOO
OOo or bonds, authorized at It's organiza-
lioh last April, and for the Third Avenue
rSaiWay company, several other liens for
large sums have been placed upon the
property. The manufacturing failures for
&2S76SS were larger than in February of
1850 or 1895, but more than half the
amount was In two classes, four large
lulhoer and one clothing failure, making
q" per cent or the whole. The trading
Ialiures were larger than in February of
last year. but only about 2 per cent OF
thlS DEFAULT were made in five failures
IN most branches the comparison with
previous years Is encouraging and anal
ysls brings out in strong light the re-
IlarKaoly low average of liabilities in
lhe smaller failures which constitute the
great majority, indicating sound business
conditions and unusually satisfactory col
lections.
The rise of Gotten to 9Jhc. the highest
point since January. 1898. has done nucb
to stimulate business drawing FROM
southern plantations and country towns
more IMAM double the quantity marketed
laSt year, distributing millions to pro-
uucers whose purchases of supplies are
mus increased and swelling beyond all
expectation the purchases for export
i1eaVy selling of cotton by people who
tau none but felt certain that Sc would
marx the limit of the rise, had placed
them quite at the mercy of the holders.
But the markets both for goods and for
cotton nave been affected all over the
world' and the country will reap some
dement, In larger excess or merchandise
exports over imports The market for
goods has been pushed TO greater activity.
though they have risen only 3 per cent
since the year began, while the materiaY
has risen over rs per cent
Except across the ocean. where events
IN South Africa caused nearly all business
TO be forgotten changes in the stock
market rank next In financial interest 10
the rise of cotton
1t was revelation of the apprecfa.
ton In which American railway stock
Is held to see them strongly supported
with Third Avenue falling to about 50.
and flour milling, dismissed to the hands
of receivers
Inc small rise in wheat last week al
though tho price Is quite low, sufficed to
call from the farms such receipts, 41J0 ISL
bu against 1896, 437 last year as to indi-
cate that supplies are not nearly ex-
hausted. Exports from Atlantic exports
continue small for the week, flour incIud-
ed only 1.e12.306 bu against 1858, 1854 last
year and In four weeks from both coasts
exports have been II, $3.50, 260 against IA, $685.
S73 bu. Though exports run behind last
years which were almost unequalled,
they have already exceeded in months
those Of most full years and the exports
Of corn In four weeks, u, 724646 bu, against
12,05l. 0SS last year explain much of the
difficulty. corn rising three quarters of a
cent during the week, while wheat de-
cllned NC
THE iron and steel Industry continues
the greatest weekly output ever known,
even while men speak of 1t as waiting
for more definite assurance about the
future. Prices of pig yield a little some
sales of BeSseme having been made at
Pittsburg for S24, and anthracite No / Is
quoted here at $3.50. Billets have been
sold at $SS at Pittsburg. For most fin
a week ago, or as strong, bars and sheets
being strengthened by large business
while only plates appear weaker 80 be-
ing quoted for size not the widest Coke
is scarce and higher In spite of the largest
output ever known and the wages of
hands have been raised 1914 per cent 10
the highest ever paid
1.-The decline In hides at Chicago con-
tinues having been over per cent the
past week and reaching the highest point
in December. Leather has declined only
per cent from the highest point. and
part of that only in phenomenally large
transactions presumably meant to be
private. Boots and shoes have yielded
very little and many dealers ended their
Eastern trip without buying and intend
to wait until April as they did last year
when they paid rather less than prices
asked in February. Yet shipments on
past orders have been In February $780,
2i4 cases, about $4,000 more than in 1898
or any other year
Failures for the week have been 222
in the United States against 1S6 last year
and % In Canada against AZ last year"