The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-09-01
BUSINESS FAILURES.
August the Low Record Month of the
Year-Iron Trade lmproving.


NEW YORK. Aug. s1.--R, O. Dun & Co.'S
Weekly Review of Trade VIII say: Com
mercial failures during August were rs in
number. with liabilities Of s7.szs,sos. Manu-
featuring were 17i for $2.si5so7; trading, SIG.
Cor 1855 CO.,, and other commercial, AZ. for
s792. 629. There were only two, banks, with
liabilities of $4,000. This issthe best month
in the statement for 1900 thus far. but shows
an increase over the corresponding month
in the two preceding years =
Steel mills in the Cumberland district and
some in Indiana have shut down. throwing
many hands out, but part Of these will be
transferred TO the other departments OF The
new crucible steel company. Otherwise the
working force Is increasing and hope Is ex-
pressed of adjustment with the anthra-
cite coal miners. Reading Company miners
are said to be opposed TO a strike. and some
others are in the same position. Another
important influence of the week has been
favorable weather for development of corn
for the greater part of the surplus corn
states, though heavy rains In the spring
wheat region have retarded harvesting.
The cotton movement is slow and late, but
weather conditions average better except in
the Carolinas. Price changes are small:
Steady Improvement is seen In the iron
market. 1t Is not marked by large adj
vances. but whenever change occurs IL is IN
the right direction. IL Is claimed by some
authorities that orders currently booked ag-
gregate more than present production and
shipments. Special concessions TO secure
prospective business are withdraw and
buyers seek contracts for prompt delivery.
In some lines mills are actively employed
With orders for months ahead. and con-
tracts running 10 June were placed this
week. Sales of iron bars were made at
Sl.40 and SIG is quoted for Bessemer pig ut
fittsburg. Western stove manufacturers
have been buying freely and more bridge
builders signed contracts for structural ma
terial Merchant steel advanced on increas-
ing orders, while domestic purchases OF
cotton ties were large. although rather late.
Copper exports average million pounds
per day, and the market Is in strong posi-
ton. Iron ore handlers have made trouble
at Cleveland and the industry will be en-
barrassed by delay in unloading vessels.
Further reduction is shown I'm the OUTPUT
at Connellsville coke ovens.
1t is not possible to report progress I'm the
boot and shoe industry, unless II can be
considered encouraging that continued In
activity at the shops must In time reduce
stocks 10 point where orders viii mean n
resumption of operations. There Is general
quiet at both cotton and WOODEN mills The
only manufacturers showing any interest In
wool at Boston arc those with government
contracts which must be filled promptly.
Prices OF wool arc unchanged. and Vest
crn holders have not lost any OF their con-
fdence. Sales at the three chief Eastern
markets were only 4.23f, 200 pounds. against
5.062.500 in the previous week and e32S, 100 a
year ago.
Failures for the week. were Us In the
United States. against III last year, and -
in Canada. against g last year.