The age-herald., 1900-12-29
R. (. DUN'S WEEKLY
 REVIEW OF TRADE The Year 1900 Will Compare favorabIy With Others MANY BUSINESS FAILURES Iron and Steel Continue on Even Tenor of Their Way, Though Reduc-
 tion in Coke and Ore May
 Unsettle Things
MANY BUSINESS FAILURES

New York, December 2S-R. G. Run & Co.'S weekly review of trade will say to-
 morrow:
 While 1t Is not yet possible to print ac- ct rate figures on the failure of 1900, there
 is TO reason to believe they are exception l ally defined one or the other way.
 Detailed returns for all but the last few ! days of the year have been compiled, and i adding a proportionate amount for the time still to eapse, 1t appears that com
 mercial failures will number about 1O,63O, With liabilities of $137 7OOO,OOO. Of this num-
 Der 2300 were in manufacturing, for $49,-
 750,OO0 7SO0 in trading, for $6O,0OO0OO, and
 59e brokers, transporters, etc., not properly
 belonging to either of the other classes,
 for $27,2 900. Besides these strictly com
 mercial defaults there were sixty financial
 concerns with liabilities of $34 GOO, ,000, swell
 ing the total to 10,690 in number and $17O, , 000OOo in amount This shows a large in-
 crease over the preceding year, when all
 failures numbered 9Ss3 and liabilities were | $123, ,132, ,679.
 It must not be forgotten. however, that 1 1899 was a year of exceptional prosperity
 in business, and while trade was then stim- ulated by rising prices, the succeeding year l had 10 bear the bitter fruit of reaction. | Despite these disasters made unavoidable 1 by the very conditions that brought such 1 a phenomenal record for 1899, it will be l found that 1900 compares favoraby with other recent years.
 1 So general preparation had been made by | eastern business interests for squeeze in l money near the end of the year that the expected advance did not occur and eollec- l tons in the interior were so good that | banks made general complaint of the scarcity of mercantile paper offered for | discount. The outcome was particularly encouraging, though business will need l more money after January 1. Meanwhile l good undertone has been fully in evidence | founded on the active distribution of mer- l chandise south and west, ,esellers assuming l an indifferent attitde except in cotton l goods and some branches of silks, where the general improvement has been reflected | to a comparatively small degree In both l cotton and silk circles better things are l expected in January and in no direction l has reduction of working forces in mills l occurred. Some wage differences have
 been adjusted. In this respect the situation is unusually bright
 More talk of a general reduction in coke and cheaper ore after navigation opens might be calculated to unsettle quotation | of the finished roducts, but iron and steel l continue the even tenor of their way. In every department of this industry more | business Is offered than can be accepted un- l less purchasers are willing to give much
 time for delivery. One large foreign con- l tract was lost on this account and at many | points domestic operations are delayed by | inability to secure material Instead of the | agitation for cheaper steel rails that was so prevalent short time ago, producers are l said to contemplate an advance. Domestic l contracts in this lime exceeded 5000 tons
 at Chicago, and among foreign orders is
 noticed one for 17,0O0 tons for Australia, with many smaller sales. Structural ma- terial is wanted for buildings and bridges,
 with noticeable activity in this department 1 for export It is not a bad sign that the 1 local jobbing trade in footwear is quiet nor l that orders received by manufacturers from l salesmen are small, as most travellers re- l turned nome for the holidays. New con- | tracts are not large, but factories are run | ming at full capacity, and in many cases 1 refuse to duplicate orderso at previous | prices. Shops are assured of brisk employ 1 ment well into the new year, and makers l expect to buy leather at better terms. Aside | srom hemlock sole, of which there Is a
 scarcity. prices are barely maintained and l export buying has been proportionately bet | ter than domestic
 1 Hides average lower, making the gfth suc- l cessive wee ito decline at Chicago. Wool | lost the temporary increase in activity, 1 sales aggregating only 4,760000 pounds, a 1 decrease of 2,610,0OO pounds from last report. Cotton in all its departments continues | in healthy condition despite rumors and 1 statements to the contrary.