The times., 1900-12-29
DUN,s REVIEW. OF TRADE.
An Increase in Fixtures and LiabiIi-
ties Over Last Year.

NEW YORK, Dec. 2S.-Dun's review to-
morrow will say:
"While it is not yet possible to print
accurate figures of failures during the full
year 1900, preliminary statement may be
made that will approximate the final re-
suit Detailed returns for all but the last
few days of the year have been compiled,
and adding proportionate amount for
the time still to elapse, it appears that
commercial failures will number about
10, $50, with liabilities of s137, 100000.
"Of this number 1890 were in manufac-
turing. for $40. $50, ,000 while there were
1900 in trading for $50 600, 099. ard 53i
brokers, transporters, ETC., not properly
belonging in either of the other classes,
for S27, 900. BesiCes these strictly COM
mercial defaults there were so financial
concerns, with liabilities of $4,000 900,
swelling the total to 1880 in number. and
s170 ,a00, 600 in amount. This shows a large
increase over the preceding year, when
all failures numbered 1888, and liabili-
ties were 1923, 49, ,679.
at must not be forgotten, however, that
1899 was year of exceptional prosperity
in business, and while trade was being
stimulated by rising prices. the succeed
ing year had to bear the bitter fruit Of re-
action. Despite these disasters made un-
brought such phenomenal record for
1899, IT will still be found that 1900 COM
pares favorably with other recent years.
Such general preparation had been made
by Eastern business interests for a
squeeze in money near the end of the
year. that the expected advance did not
occur and collections in the interior were
so good that banks made general COM
plant of the scarcity of mercantile paper
fx,- III t,f-
particularly encouraging. though business
viii need more money after January l.
Meanwhile a good undertone has been
continually in evidence, founded upon the
active distribution of merchandise South
and West. sellers assuming an Indifferent
attitude, except in cotton goods and some
branches of silk, where the general I'M
proyement has been reflected TO compara-
lively small degree Some wage diiIer-
ences have been adjusted, and in this re-
spect the situation is unusually bright.
Railroad earnings for December thus far
show an increase of S.4 per cent ever last
year. and 1a.5 over 1898.
More talk OF G general reduction in
coke and cheaper ore after navigation
opens might be calculated to unsettle |
quotations of the finished products, but
iron and steel continue the even tenor of
their way. In every department of this
lHuNSliy lHOIe uGSlue5S II OteIeu tndn can |
be accepted.
1T is not bad sign that the LEGAL job
bing trade in footwear is weak nor that
orders received by manufacturers from |
statesmen are small, as most travellers are
turned home for the holidays. Hence
new contracts are not large but factories |
arr running at full capacity, and in many
cases refuse to duplicate orders at pre-
yicus prices. Hides average lower max |
ing the fifth successive week of decline at |
Wool lost the temporary iu- |
crease in activity, sales aggregating oniy |
!. $40, 100 pounds. decrease of . 651 800 |
compared with the preceding week Stocks !
at the close of the year are excessive. al |
though dealers are encouraged by the !
knowledge that manufacturers supplies |
are light.
Contradictory estimates are still heard l
regarding the cotton crop. Port receipts |
show a large increase over last year. but |
the effect is neutralized by reports that n |
much larger proportion of the yield has
been marketed