The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-12-29

Number In Large, hut Not UnduIy So,
Compared with Trade Expansion.

NEW YORK, Dec. OR. G.. Dun * Co.'S
weekly review of trade will say tomorrow:
While il is not yet possible tc print accu-
rate figures of failures during the full year
1900 a preliminary statement may be made
that will approximate the final result. De-
tailed returns for all but the last few days
of the year have been compiled, and. add
ing proportionate amount for the time
still TO eIapse. IL appears that commercial
failures will number about 1850, with LA
biIities of $13z, 00e.O 00 OF this number $500
were I'm manufacturing, for SO. 10000; $500
I'm trading, for $50, 100000, and $50 brokers.
transporters. ETC., not properly belonging
10 either of the other classes, for ST $50. 900.
Besides these strictly commercial defaults
there were sixty financial concerns with
liabilities OF $34,O00.00O, swelling the total
to 1850 in number ard s110.000.000 in
amount This shows a large increase over
the preceding year, when all failures num-
bered 1903 and liabilities were S123 132. 679
1t must not be forgotten, however, that
1899 was a year of exceptional prosperity in
business. and while trade then stimu-
lated by rising prices, the succeeding year
had TO bear the bitter fruit of reaction.
Despite these disasters. made unavoidable
by the very conditions that brought Sucn
a phenomenal record for 1899, IL still will
be found that 1900 compares favorably with
other recent years
So general preparation had been made by
Eastern business interests for squeeze
I'm money near the end of the year that the
expected advance did not occur, and collec-
lions i'm the interior were so good that
banks made general complaint of the scar
city of mercantile paper offered for dis
count. This outcome was particularly en-
cCuraging, though business will need more
money after Jan. i. Meanwhile good I'M
dertone has been continually in evidence,
founded on the active distribution of mer-
chandise South and West, sellers assum-
ing an Indifferent attitude, except in cot
ton goods and some branches of silk. where
the general Improvement has been reflected
TO comparatively small degree. In both
cotton and silk circles better things are
expected in January, and in no direction
has reduction of working forces in mills
occurred. Some wage difficulties have been
adjusted In this respect the situation Is
unusually bright.
More talk OF general reduction i'm coke
and cheaper ore after navigation opens
might be calculated TO unsettle quotations
OF the finished products. but iron and steel
continue the even tenor of their way. In
every department of this industry more
Business Is offered than can be accepted
unless purchasers are willing to give much
l. c Tor delivery. One large foreign con-
tract was lost on this account, and at
many points domestic operations are de-
iayed I'm inability TO secure material In
stead of the agitation for cheaper steel
ago producers are said to contemplate an
advance Domestic contracts in this line
exceeded $1,000 tons at Chicago, and among
icreign orders Is noticed one for IL, 600 tons
for Australia, with many smaller sales.
Structural material Is wanted for buildings
and bridges, with noticeable activity in
this department for export.
Wool lost the temporary increase in ac-
tivity. sales aggregating only 4,576,700
pounds, q decrease of 2,661, 800 compared
with the preceding week. Stocks at the
ff ha nccfx~ ole
dealers are encouraged by the knowledge
that manufacturers supplies are light. Con-
Trajectory estimates still heard re-
gardiiig the cotton crop. Port receipts
show large increase over last year. but
the effect is neutralized by reports that
a much larger proportion of the yield has
hopn ms