The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-12-29

BUSINESS IN ALL LINES CONTINUE S
TO BE EXCEPTIONALLY
GOOD
TRADE MORTALITY FOR 1900
While an Increase Is shown Over
Failures for 1899, the Year Just
Closing Has Fairly
Good Record.

NEW YORK, Dec. 2S.-R. G. Dun &
Co.'S weekly review of trade tomorrow
will say: While it is not yet possible to
print accurate figures on failures during
the fun year 1900, a preliminary state
ment may be made that will approximate
the final result Detailed returns for all
but the last few days of the year have
been compiled, and adding a proportion
appears that commercial failures
will number about 10,690 with liabi tiles
amounting to 100000 OF this
number 1890 were in manufacturing fer
$40 O00 $500 in trading for $60,OO9,0O0
and $50 brokers', tranSporters, ETC., not
properly belonging in either of the other
classes for $27.25G, Geo. Besides these
strictly commercial defaults there were
sixty concerns with liabilities of %4,c9l,-
coo. swelling the total to 10000 in num-
Der and SIG, Geo, GOO in amount. This
shows a large increase over the preceG-
ing year when all failures numbered
$3.50 and liabilities were $123, 1858. 1t
must not be forgotten however, that 1859
was year of exceptional prosperity in
business. and while trade was then slim
uiated by rising prices, the succeeding
wear had to bear the bitter fruit of reac-
uon Despite these disasters. made I'M
avoidable by the very conditions that
brought such a phenomenal record for
1899 it still will be found that $500 COM
pareS faVorably with other recent years.
So general preparation had been made
bv Eastern business interests Tor a
squeeze in money near the END OF the
year that the expected advance old not
occur and collections in the interior were
so good that banks made general COM
plant of the scarcity of mercantile paper
offered for discount. This outcome was
particularly encouraging, though business
will need more money after Jan. l.
Meanwhile a good undertone has been con-
tinually in evidence, founded upon the
distribution of merchandise South and
West, sellers assuming an Indifferent at
titude, except in cotton goods and some
branches of silk, where the general i'm
provement has been reflected to compare
lively small degree. In both cotton and
silk circles better things are expected in
January, and in no direction has reduc-
ton of working forces in mills occurred.
Some differences have been adjusted. In
this respect the situation is unusually
bright.
THE IRON TRADE.
More talk of general reduction in coke
and cheaper ore after navigation opens
might be calculated to unsettle quota
lions of the finished products, but iron
and steel continue the even tenor of their
way. In every department of this indus
try more business is offered than can be
accepted unless purchasers are willing to
foreign contract was lost on this account,
and at many points domestic operations
are delayed by inability to secure mate
rial Instead of the agitation for cheap
er street rails that was so prevalent a
short time ago, producers are said to
contemplate an advance. Domestic con-
tracts in this line exceed $4,000 tons at
Chicago, and among foreign orders is
noticed one for II 900 tons for Australia,
smaller Structural a.
terial is wanted for buildings and bridges,
with noticeable activity in this depart
ment for export.
1t is not a bad sign that the local job
bling trade in footwear is quiet, nor that
orders received by manufacturers from
statesmen are small, as most travellers re-
turned home for the holidays. Hence new
contracts are not large, but factories are
running at full capacity, and in many
cases refuse to duplicate orders at pre-
Vious prices Shops are assured of brisk
employment we'll into the new year and
makers expect to buy leather at better
terms. Aside from hemlock sole of which
There is scarcity, prices are barely
maintained, and export buying has been
proportionately better than domestic
Hides average lower, making the fifth
successive week of decline at Chicago.
Wool lost the temporary increase in ac-
tiVity, sales aggregating only 4576, 700
pounds, decrease of 1851, 300 compared
with the preceding week. Stocks at the
close of the year are excessive although
dealers are encouraged by the knowledge
that manufacturers supplies are light.
Contradictory estimates are still heard
regarding the cotton crop. Port receipts
show large increase over last year. but
the effect is neutralized by reports that a
much larger proportion of the yield has
been marketed.