The Savannah morning news., 1900-07-14
WEEKLY REVIEW OF TRADE.
DUN d co. REPORT THE GENERAL
BUSINESS SITUATION.

How Increase in Fixtures Was
Brought About-Disasters Resulted
From Amazingly High Prices and
the Effort 10 Get Down TO Normal
Conditions Once More Report
Upon the Iron, Cotton and Wheat
Situation.
New York, July 13.-R. G. Dun & Co.'S
Weekly Review OF Trade tomorrow will
say:
If the great increase in failures to s1O0
57O,134 in the first half Of 1900, against 49,
664,661 last year, and especially 10 1888,
90 in the second quarter, against S2l,695,
635 last year, gave no occasion for dill
gent search, failure returns would be
worth nothing. But to-day it is shown
that thirty banking failures for $25, S22, $50,
against thirty-one last year for 81, sol, 72S.
accounted for much of the difference; that
265 brokerage and real estate failures for
s22 122, 946, against 145 last year for only
81, ,215, accounted for another part and
that in building and lumber working and
trade, other large failures distinctly con-
nected with those in real estate, explain
ufacturing and trading failures last year
and this.
In these and much less important
changes in a few other lines, are seen sub
stantially all the commercial disasters as
yet resulting from an amazing rise in
prices last year. followed by weary, but
largely successful, efforts during the past
eo-,- IL - -t,
OF business. When this is seen and the
remarkable steadiness in number and size
of the great majority of failures for not
exceptional amounts, there appears ground
for especial satisfaction that business has
been on the whole. soundly conducted
under conditions of unequal danger.
The Iron Age makes the output of pig
2S3 41S tons weekly, July l. but the de-
crease Of 10 900 tons has by this time been
exceeded, other furnaces having stopped
this month and repairs of works and OF
wage scales may yet occupy some weeks.
The incre ase of S69j8 tons in stocks I'M
sold implies decrease in manufacture
more than double the decrease in output
and works of FIVE of the great corpora
tions are waiting for decline in wages just
when the workers have looked for in
crease. Open markets are now admitted
at Pittsburg. where quotations have been
for some time nominal, and Bessemer pig
is offered there at SIG.
Cotton speculation has held the price
too high for the comfort of foreign spin
ners who have not provided for all their
wants, but the arrangement by the FAN
River committee to close for a month or
more a large part of the New England
mills will clear away dispute about the
market for goods.
The end of the crop year has brought
the usual estimates, which command no
more confidence than usual. If the coun-
try can get out of a crop, officially called
547, 10000 bushels of wheat, all it wants
for food and seed and 200 900 bushels for
export, with considerab bic left over in sight
il is the easy inference that anxiety is
needless. There is no evidence a 5 yet, and
for some time to come cannot be, that in
juries sustained have been as great as
some suppose, SO that alarm Is not more
necessary than 1t was last year.
Failures for the week have been 1856 in
the United States, against 1863 last year,
and 26 in Canada, against "a last year.