The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-04-07
LIST OF FAILURES is LARGE.
LIABILITIES FOR THE QUARTER
WE'RE S56,677, 1855.

At Almost Any other Time They
Would Not Have Seemed So ENten-
siye-QuarterIy Reviews show the
Volume of Business Was Larger
Than IA Year AEO-Increase I'm EN-
ports of CereaIs-Features of Cot
ton and Iron Markets.
New York, April 6.-R. CT. Dun & Co s
Weekly Review of Trade tomorrow will
say:
Only once in twenty-five years would
such failures as those of the first quarter
of 1870 have seemed large. They are large
compared with last year and 1898, and
would have looked larger in 1888. The
amount of liabilities, $3.50 ,O55 includes
$21 ,161 90 for the United States flour mill
ing company and $2492,4S2 for sixteen
banks and other financial corporations,
| leaving 1884 commercial failures, with
S 3,Q22,572 liabilities. Actual defaults in
manufacturing are smaller than in the
first quarter of any year except in 1899.
| since classified failures began, as are
| trading liabilities and while Massachu-
sets and New England have been larger
year since 1894, reports from other states
and sections are mainly smaller than in
| any other years excepting the last. In the
Southern and Pacific states the failures
| were smaller than in the same quarter of
| any other year, 1t is to exceptional and
not to general conditions that any increase
| is due.
Quarterly reviews to-day show that
! outside the immediate effect of stock
| speculation and industrial consultations,
| the volume of business has been larger
! this year than a year ago. At that time
| the extensive rise in wages which fol
| lowed combination in many cases had
not yet taken place and the purchasing
| power of the people was smaller than it
| is now. Very many of the usual spring
| demands for higher wages have been
! granted, or in part granted by compromise
! so that no more than the usual hindrance
| from THAI source now seems probable.
Some of the disputes threaten to last
| for some months.
Cereals aud Cotton.
A little increase in foreign exports of
| wheat from Atlantic ports including flour,
2,268 500 bushels, against 2,074769 las4 year,
| served as occasion for a little rise, but
| the gain was lost later and the week
| closes unchanged. Pacific exports were
1,0251 25 bushels against 1872 SIG last year.
Corn exports 36959l5 bushels against
3. Az. 4SO last year for the week showed not
| much greater gain, while receipts were
over a million bushels larger than last
| year but the price rose l12
cents. While supplies remaining
are comparatively small. slight changes
| in movement affect prices more.
This fact rather than any changes
in position or prospects must account fol
the fall of cotton to 9.56 cents and It's
later rise TO 975 with significant change
in options
No change has come in cotton goods
this week, though dealings for the tutuf'
are hindered. Business in woolens Is ais
somewhat unsatisfactory, with cancelia
lions comparatively numerous and orders
smaller than We're expected. The sinking
in prices of " OIL continues. from nc to Il
more having been conceded this week 4
effect sales of considerable blocks, bu
sales for the week at three chief market
have been only 9933,6OO pounds and thu
absence of manufacturers from dealing
still has its natural effect.
The rise in some leather has helped man
ufacturers of boots and shoes to hOlC
prices but not to get more orders which
are much smaller than in previous years
Steel and Iron.
The steel sheet consolida ton. viii
President McMurtry of the Apollo Work:
at the head, promises great importance
If this, the tin plate, hoop and nationa
steel works make alliance with the Car
negie Company, as is reported. the whole
industry will sooner or later be effected
For the present no change appears il
prices Of pig, and only slightly more yield
ing in plates and bars to secure more
business. But many new contracts are
reported, including one purchase of rails
for export and the situation is generally
more hopeful.
Changes in minor metals are not i'm
portant, though copper grows steadily
stronger with exports of 1870 tons from
only three ports this month. The output
of coke continues much the largest ever
known.
Failures for the week are 159 In the
United States, against 141 last year, ano
% in Canada, against II last year.