The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-04-07
INCREASE IN FAILURES
THROUGHOUT THE EAST.
WESTERN AND SOUTHERN
STATES ARE PROSPEROUS.
Duns Review of the Years First
Quarter Shows the Gain
in Defaults.

New York. April 6.-R. @. Dun & Co.'S
Weekly Review of Trade Tomorrow will
say: Only twice in twenty-five years wculi
such failures as those of the first quartz.
of 1850 have been large. They are Ia ge
compared with last year and 1898 and woU <
have looked larger In 1899. The amount O
liabilities. S56.61I.GJ5. includes SCI III. 400 for
the United States Flour Milling Company
and s.. to-. 4S2 for sixteen banks aud othc-
financial corporations. leaving 2.S94 CONNER
cial failures with SO .0.2. go liabilities.
Actual defaults in manufacturing ar.
smaller than in the first quarter % any
other year except 1899, since classified fail
ures began. as are trading liabilities. ami
while Massachusetts and New England fai!-
ures nave been larger than in the first
quarters Of any other year since lSai. re
ports from other States and section are
mainly smaller than in other years cxccut-
ing the last. In the southern and Pacific
states the failures were smaller than in the
same quarter Of Il year ago. II is to cv-
ceptionai and not to general conditions
that any Increase is due.
Volume of Business,
Quarterly reviews to-day show thar. ont
side the immediate effects of stock spec,i-
lation and Industrial consultations. the
volume of business has been larger this
year than a year ago. At that time the On
tensive rise in vases. which followed COM
bination in many cases. had not yet taken
place, and the purchasing power of the
people was smaller than it is now. Very
many Of the usual spring demand for high
er wages have been granted. or in part
granted. by compromise, so that no more
than the usual hLindrance from that sources
now seems probable. But some of the dis.
putes threaten TO last for some months
Gain In Imports Lost.
\ little increase In foreign exports oc
wheat from Atlantic ports tttour included,
-225S.G2s bu.. against 21Ss. 100 last year.
served as occasion for a little rise. but the
gain was lost later. and the week clos.<T
unchanged. Pacific exports We're LOS. 125 ~,
against $3.50 last year Corn expSc-
the week showed not much greater gain,
while receipts were over 1t mutton pr.
larger than last year, but the price rose
Tlzc.
While supplies remaining are compara.
lively small, slight changes in movement
affect prices much. This fact. rather than
any change IN position or prospects. must
account for the fall of cotton TO 9I5s cents
AMI its later rise TO 9.i0 cents, with ins.c-
%niicant change in options. No change has
come In cotton goods this week, though
dealings for the future are hindered. Bust
ness in wooleps is also somewhat unSatis-
factory. with cancellations comparatively
numerous and orders smaller than were ex-
rectcd. The sinking in prices CT wool colt
tinues from iac TO lc. The ri.p in some
leather has helped manufacturers o: boots
ard shoes to hold prices, but moi to get
more orders. which are much smaller than
in previous years.
steel sheet Consolidation.
The steel sheet consolidation with rrtsi-
dent McA,u:try of the Apollo Works at the
head, promises great Importance. IL this,
the Tin Plate. Hoop and National Steel
Works make alliance with the Carnegie
company. as is reported, the whole industry
will sooner or later be affected. For the
present no change appears in prices of pig
and only slightly more yielding in plates
and bars TO secure more business. But
many new contracts are reported. inctudilG
enc purchase of rails for export, and th\
situation is more hopeful. \
Change in minor metals are not impor-
taut. though copper grows steadily strong
err, with exports of 1870 tons from only
three ports this month. The output of coke
continues much the largest ever known.