Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-05-05
DUN'S REVIEW OF TRADE.

| NEW YORK, May 4.-R. G. Dun &
Co.'S Weekly Review Of Trade will say
| tomorrow:
Failure returns for April are especial
ly valuable, because they show that
there does not exist in the most i'm
portant branches of business the con-
ditions which threaten disaster. They
call attention to one line in which
some curtailment has seemed from
previous returns to be in progress ana
has been FASTENED by extensive strikes
in the building trades.
The state of business has been repre-
sented to fit and used to support sever
al hundred theories already. The SIM
pie fact is that some reaction from the
abnormal excitement and expansion
and rise of prices last year was neces-
sary to continued prosperity, Its dura-
ton may therefore be expected to de-
pend on the promptness with which
production and prices adjust them
selves to actual demands. Much pro-
gress in that adjustment has been made
during the past week, with increased
activity already resulting. Strikes
springing from disputes about the
terms of work and wages for the COM
ing year have also made distinct pro-
gress toward settlement.
The reduction in prices of iron and
steel and their products has gone far
enough to bring out much new bust
ness. At the end of last week cut nails
were reduced 45 cents per key and in
plates and bars somewhat lower prices
have been reported. Prices for sheets
hoy h,,% ~,
and tubes there is some yielding, with
larger business in fence and other wire
since the reduction. Not sale of Bes-
semer pig is reported, the association
still asking s24.90, while eastern pig
is offered at Pittsburg below $23, and
local forge is lower at $40, with eastern
at S19.75. Chicago local coke has de-
clined so cents and southern also.
Eastern markets are irregular with
growing belief that an output exceed
ing consumption will reduce prices I'M
til the demand again expands. There
are large foreign contracts for pig
pending and important sales of finished
products for export have been made.
1t helps toward better adjustment that
coke is quoted 81 per ton lower than
month ago, and anthracite coal has also
declined.
Failures for the past week have been
209 in the United States against 1853 last
year, and 27 in Canada against % last
year.
NEW YORK, May 4.-Bradstreet's
review of the failures for the month of
April will say:
Business failures in April were not
-, 4
month for number of years past, but
they were Is per cent smaller in num-
Der than in March, and were, in fact,
the lightest recorded in any month
since September last year, when bust
ness embarrassments and liabilities
were the smallest reported in any sin
gle month for seven years past. Liza
bilities showed even a larger shrinkage
from the preceding month of March
than did failures themselves, the de-
crease being nearly Fl per cent, but
compared with April a year ago, the
falling off is only fractional one, this
being due mainly to the occurrence of
a few large failures in New York city
and Boston, none Of which, however.
was significant of any particular ten
dency in the general course of bust
ness. Failures in April, 1900, number
zoe; assets, $685. 67; liabilities. ST.
211,7 1877.
When comparisons were made with
the corresponding month in previous
years, the really favorable side can be
best appreciated.
For instance, the liabilities in April,
1899, were only about one-half what
they were in 1898, 1896 or 1895, and
were less than one-fifth as large as
they were in April of the panic year
of 1898. An even greater proportion
ate decline is shown in the volume of
assets, this being a feature frequently
calling for attention of late,- and one
not entirely favorable as may be judg-
ed by the fact that the percentage of
assets to liabilities, or, in other words,
the salvage in April, 1900 was only So
per cent, whereas year ago it was
As per cent, and in April 1896, fully SO