The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-06-02
SMASH UP OF BROKERS
In Cotton Responsible for Large
Number Of Failures-End Of Boer
War VIII Affect Security Markets

NSssS4A 4ssogSA9AgAS A0E 4AEBG
Number Of Failurss-End Of Boer
War VIII Affect Security Markets.
Decline in Pig Iron Continues.
NEW YORK. June 1.-R. G. Dun &
Co.'S weekly review OF trade tomorrow
will say;
While returns Of failures in May by
branches Of business cannot be given
until next week, II can be stated that
not over six months in more than six
years have shown as large defaulted
liabilities as May viii show, owing to
the failure OF firm principally engag-
ed in cotton brokerage. The reported
liabilities OF this one firm exceed those
Of all firms failing in every month but
one last year, and in every month but
three in 1893, Manufacturing failures
in four weeks OF May were only 81
4S6,543, and trading failures $I,72O,301.
while failures in brokerage and other
commercial lines amounted to Sl3,92S,-
S22. The decline In cotton to cents
and the reduction Of regular print
cloths to Shc at Fall River. with out
side sales at 3 cents, Indicates that
speculation in this case may have
somewhat checked business and indus
try.
End Of War Has It's Effect.
The rapid progress of events in Afrl-
ca, with prospect that the war win soon
end, and the gold supply from that re-
gion will be resumed, has naturally
affected both money and security mar.
kets on both sides Of the ocean Needs
OF foreign borrowing may be much re-
duced, and hindrance to foreign invest
ments here in large measure removed.
But the demands upon American ma
chine works and other supplies are
likely to be materially increased when
ever the restoration Of industries in
South Africa begins.
Steady Progress Towards Low Level.
The most conspicuous feature of do
nestle news is the steady progress to-
ward a lower level of prices for the
chief materials Of Industry. Without
excitement, and with very small sales,
1t is believed the smallest ever recorded
in May at the three chief eastern mar"
kets. except in 1893, prices Of wool have
declined 50 that the hundred quotations
IN COATES 6rcs' circular woufa aver
n%e nout zliS4 GEMS against z4;'s @s
the h'Shest point HeD ,I, l. anu io'iY I
cents \ year ago. Ihe stashaht anu
Insulating condition of the goods mar
ket. though not extending to the most
favnrlte staples. which were largely
SOFA early IN the seuson' mas oauseu
much Irregularlty in prices Of goods OF
other srades, so that some nave peei1
cleared out by concessions OF 10 10 ~
per cent from the early quotations OF
the season Ihere IS aiso more com
plant OF cancellations. ana on th's oc-
easion in cotton as We'll as IN wool con
ditions. with prices ADJUSTED 10
lower range all teNti.e 0Fahches "''Sn'
eNpee' 8 60 49, ~, go
Aloes Decline over titRee FeA t''
The change in hides has made mark
ed progress also, the average at Chica-
go declining over per cent for the past
week and thus far about II per cent
from the highest point. Large supplies
are mentioned in some grades. Dut the
weakness Of the manufacture has beeN
the controlling feature.
Orders for boots ana SHOES nave Deeh
reduced much more than shipments
because many works had order whieh
are not yet exhausted.
The shipments IN May nave oeeh
smaller than In any other year since
1892. They were larger by IA per cent
in 1896, by 22,S per cent IN 1899 ana by
277 per cent last year.
The decline in pig iror continues, grey
forge reaching SIS &c at Pittsburgh. NO
l local coke w Ut ~ Sn'casq, 40, Hn