The sun., 1900-11-03
FAILURES OF OCTOBER.
They We're 7S2 In Number and
S9,O72,791 In Amount.
IRON INDUSTRY PICKING UP,
Recovery Noted In Cotton and Also
In wheat, Latter Owing 10 Re
ports That Argentina Has
Poor Crop.

Now York. Nov. 2-R. G. Dun & Co.'S
weekly review of trade says
Commercial failures i'll October were
TSo in number and $9.0I2, T91 in amount.
Manufacturing defaults numbered 2uu
for 50. 1g5 .3G2, trading 541 for SJ,33l .1SS,
aud other commercial IL for SJ26,24l.
There were only two financial disasters,
with Liabilities Of S550,000. As was ex-
plnined in detail last month, the unparal-
lcled conditions existing u year ago make
comparison with 1899 unfair, but DC
tober, 1896, was also the month just pre-
ceiling presidential election. and fail
urcs then were 1,214 in number and
Sl1.SSU. 266 in amount, although the num-
ber Of concerns in business has increased
more than 125.O00 in four years. October
shows much improvement over Scptem-
bcr returns, liabilities decreasing nearly
S1000.0n0.
In manufacturing the October figures
are particularly encouraging. Prior TO
last year but five months out Of G}
showed smaller liabilities, and even in
1899 i've out of the II branches showed
heavier losses. Trading failures We're gfIl-
orally small, but if we exclude few
large defaults for over SlOO0O0 each the
total is smaller than in amy previous
October since these records were COM
nrnecd except 1850 and 1S0S.
Encouraging signs multiply in the iron
Industry Strength in besScmer and
Sluy forge at Pittshurg shows that the
recent increase i'll activity Of finished
torms has ut last affected the market
sor raw material. Improvement in do
Nestle buying Of pig is the more notice
able because Of decrease in exports
Structural shapes continue in urgent re
a .,-itb n,.tir Ia
mand from shipbuilders and with tall
of pool to sustain the price. Ban irol
would sell readily At former prices, bu
holders grow stubborn. Reports are cur
rent that American concerns have con
tractpd for machine shops in Bremen
and numerous bridges abroad, incudin;
some in Africa. Billcts at Philadelphi;
cost $40. which does not look like re
tluction in steel rails. Buyers in thes
lines decided not to wait for election t
place contracts.
Shoe Industry Active.
Fun forces are employed at New Eng
land shocshops. and heavy orders IL
sure brisk work for the rest of the veal
Prices have not advanced for the fnisl
ed articles with leather and hides. TIE,
tile operations are more vigorous. sale
of wool at the three chief eastern MAJ
krtS exceeding all recent fecOruS, With
total of 1904 800 pounds. This is lafg
ly for prompt consumption and cons
qucntly makes poor comparison with tt
same week last year, when unpreceden
cd speculation made the total 2J,3S6. Il
pounds, with many large transaction
missed i'm the excitement of the Boste
market. With the greater activity the
appears Il tendency toward tirmcr price
and 100 grades on Nov average
19Jl cents, according TO Coates Bros.
Philadelphia.
Cotton has recovered Il little of the !
cent sharp decline attributed to repol
that frost would surely do serious dan
age. The market does not show mn
fpar.of disaster and there Is more reas
10 believe that the slight advance v
induced hy better purchases Of Spinner
who were attracted after the fall Of 81.
!: bnlc III less than three weeks. The
was also some recovery in wheat. start
by the statement thar Argentina Wot
not he aide to eapglt freely this year
cause ot injury to the growing crt
Corn did moi Join Jl,e advance 10 amy
tent and provisions were generally qui
except for Il corner in October pol
which compelled traders on Tho short si
IL cover contracts at so when the MOI
ended. Small concessions are made
importers of raw sugar
Failures for the week We're l9S in
United States against 1S3 last year Il
% in Canada against % last year.