The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1900-07-17
FAILURES THIS
YEAR AND LAST
Difference Due to the Large
Business Dcne.
IN TIME OF GREAT DANGER
Dun & Co. Argue That Conditions Are
Very Satisfactory.
IN TIME OF GREAT DANGER
RESULTS OF SPECULATION IN COTTON
Prices Have Been Held Too High For the Com
fort Of Foreign Spinners. But the
Closing Of Factor S Will
Bring Remedy.
Bring a Remedy.
(By the Associated Press.


New York, July 13.-R. G.. Dun G
Company's Weekly Review OF Trade to-
morrow will say:
If the great increase in failures to
s1GO, ,57O,13 in the first half OF 1900,
against $40, 664 Gel last year, AMI especial
ly to $43, ,S93, ,079 in the second quarter
against $2l .695, $50 last year. gave no
caSlon for diligent search, failure returns
would be worth nothing. But today it is
shown that 80 banking failures for $25,
622,662 against 81 last year for $7,SO1,
128 accounted for much of the differ
ences; that 2G5 brokerage and real es-
tate failures for $22 p 80 against J. 5
last year for only S232S 215 accounted Tor
another part, and that in building and
lumber working and trade other large
failures distinctly connected with those
in real estate explain more OF the diff
ference between manufacturing and trad
ing failures during the last year and
this. In these and much less important
changes in a few other lines are seen
substantially all the commercial disas-
ters yet resulting from an amazing
rise in prices last year, followed by
weary but largely successful efforts dur
ing the past few months to get back to
normal state of business. When this
is seen and the remarkable staadiness
in number and size of the great majority
Of failures not for exceptional amounts,
there appears ground for especial satis-
faction that business has been on the
whole soundly conducted under conditions
of unusual danger.
s'The Iron Age makes the output of pig
1884 tons weekly, July 1st, but the de-
crease of 10000 tons has by this time
been exceeded, other furnaces having
stopped this month"; and repairs of works
and OF wage scales may yet occupy some
weeks. The increase Of 86.958 tons in
stocks unsOld implies decrease in manu-
facture more than double the decrease
in output and works of five of the great
corporations are waiting for decline in
wages just when the workers have looked
| for increase. Open markets are now ad
mitted at Pittsburg, where quotations
have been for some time nominal, and
| Possemer rig is offered there at SIG.
Cotton speculation has held the price
! too high for the comfort Of foreign spin
ners, who have not provided for all their
wants, but the arrangement by the Fall
River Committee to close for a month
| or more large part of the New Eng
| land mills will clear away many dis
puteS about the market for goods. The
| end of the crop year has brought the
usual estimates which command not more
| confidence than usual If the country
| can get cut of crop called $4,000 GOO
| bushels: oil it wants for food and seed
| and 100000 900 bushels for export, with
! considerable left over in sight, it is the
| easy inference that anxiety is needless.
| There is no evidence as yet. and Tor
| some time cannot be, that injuries su>-
|
| pose, SO that alarm is not more necessary
| than it was last year.
| Failures for the week have been 100
| in the United States against 1863 last
year and 26 in Canada, against "a last
| year.
| TOTAL. NET RECEIPTS.
New York, July 13-The following are
! the total net receipts of cotton at al
| ports since September 1st, 1899:
| Galveston G99 .279 bales: New Orleans
| 1884 946; Mobile. 202,37S; Savannah
| 1,065 $50; Charleston, 259, OBS; Wilmington
| 27S 64S; Norfolk, 390,378; Baltimore. 90
700: New York, 114.3S4; Boston, 10, ,241
| Newport News, 1854 Philadelphia. As
! 332; Brunswick. 92,405; Port Arthur anf
| Sabine Pass, 68,020; Pensacola, 129302
| Total, 6,4O7 ,O51 bales.
| TOTAL BANK CLEARlNGS.
/ New York, July 13.-The total bank
| clearings at the principal cities of the
| United States fer the week ending July
| 18th were 81 I25 Ola $50, a decrease as
! compared with the corresponding week OF
| last year of Oil percent.
Outside of New York city the total
cearings were 1864 ,623 215, a decrease OF
| per cent.
COMPARATIVE COTTON STATEMENT
New York, July 13-For the week end
| ing Friday July 13 1900 Net receipts a
all United States ports during week
| %. 531; net receipts at all United State:
ports during same week last year, p ,0o6
| total receipts to this date, 6407 ,051; tota
receipts to same date last year, $3.50. .S36
| exports for the week, 13 1872; exports 10
| same week last year, SO, 826; total exports
to this date 800, 9S3 total exports t
same date last year 7,016,437: stock a
all United States ports, 139, ,327: stock a
| all United States ports same time las