The sun., 1900-12-01
THE STATE Or TRADE.
Comment by Dun's Review on the
Weeks Business.
MANY NOVEMBER FAILURES
Eight Hundred ANA Fifty In Number
and $12,3O0,31G In Amount of
Liabilities Recorded Dur
ing the Month.

\ New York, Nov. 30.-R. G. Dun s.
Co.'s weekly review of trade says:
Commercial failures in November were
$40 in number and $12 2,30O.31G in amount
of liabilities against 7S2 in October for
S9,0I2.I91 and $50 in November last
year, when liabilities were only $S,GI6,-
S4S. Manufacturing defaults were but
1913 in number and S3,SS3.16 in amount,
She bulk Of the mortality occurring in
trading concerns, of which GIT failed for
$7,506,35S. There were 40 other COM
mcrcial failures. With liabilities of $910.-
793. -Four banking and financial COM
panies defaulted for $S23,000 At first
glance the November statement appears
very unsatisfactory, but it must be re-
mcmbered that q few heavy failures in
wool and other textile industries account
for Il large share of the reported liabili-
ties. Aside from this one branch of
trade, which has naturally suffered heav-
lily from the tardy approach of winter,
the figures show business to be on good
foundation.
Manipulation Mt lower prices of the
shares of some of the iron and steel COM
panies does not blind observers to the
fact that this industry is on stable
foundation, ard business generally con-
tinucs to improve IN tone, as Yet without
serious interference from the approach of
the holidays. Holiday retail trade starts
off well. The week has been character
lied by many advances in prices, hut the
most significant is the small rise in boots
and shoes. which of AL the great indus.
tries has been sl0west to conform to the
general Improvement.
A larger demand for goods for current
consumption is the report from nearly
all directions. The dry goods trade. re-
covering after recent liquidation, shows
business expanding, but ilrogulaIly and
slowly. Cotton goods show the best re-
suits, fine brown shcctings advancing
from 6 to 6.2a cents, bleachcd shirtings
from I.11 10 T.62 and brown sheetings
from > TO 5.12 cents. There is little cur
tailment Of output Of cotton goods. but
some mills, which usually run on export
trade. are diyertng machinery to light
weights for home use. Railroad earn
inSs for November to date show l per
cent gain over 1899 and 10S per cent
over 1SDS.
Iron and Steel.
Good news continues to come from
iron and steel sections. Sales of pig iron
in three weeks have aggregated 100000
tons at Chicago, and idle furnaces arc
going into blast, indicating q much larger
capacity now than on Nov. /. Buying
of all finished forms increases, and some
orders are placed ut slightly higher quo
tations. Railroads are purchasing most
literally, and machinery is in special
demand. AS yet the advance in cotton
goods is not ut all in proportion to the
gain in raw material. The wool market
.
failures.
After months OF unchanged quotations
boots and shoes move to a higher level
although the advance is only 21a cents
The gain in the raw material made some
rise necessary, or shops must have closed
Jobbers were slow to advance bids, and
the general change the past week re-
flected urgent orders. Manufacturers OF
heavy goods have taken contracts f.
March delivery and are asking Il furthe
advance of 2ia cents for new business
Split shoes do not share the rise, and
trade is quiet in this line. Orders come
from all sections of the country and 'o"al
jobbevs uru vprv h''sF Considering the
unseasonaI 10 This industry is en-
j.y.Eg To- witty. Eastern man
,.fta,llr,4s IunninG larger forces il
t'tp shops than at any time since the de
cline in prices began last spring. Prescn
quotations are only equal to those ruling
in July and far below the January level.
Abundant estimates that the cotton
yield will not reach 100000 bales fail
ed to affect prices, for traders are begin.
ming to appreciate the fact that de
crease in consumption is an unavoidable
concolnitant of unusually high quotations
Wheat is further from a dollar than al
any time since that price was predicted
by high authority and the usual ru'
mors of damage from jointing before
frost fall as flat as they have done in
previous years.