Barre evening telegram. (Barre, Vt.) 1898-19??, 1900-05-05
APRIL FAILURES
Dun's Review Comments on Last
Months Business Troubles.
IRON AND STEEL CONDITIONS
Reduction In Prices Has Not as Yet
Gone Far Enough to Bring Out
Much New Business, Says
the Review.

New York, May 5.-R. G. Dun & Co.'s
weekly review of trade says:
Failure returns for April are especially
valuable because they show that there
does not exist in the most important
branches of business, the conditions
which threaten disaster. They call at
tention to one line in which some curtail-
ment had seemed from previous returns
to be in progress and has been fastened
by extensive strikes in the building
trades. In real estate speculation and
building few large failures cover over
a third of all the defaulted liabilities of
the month, but in no other direction does
there appear any indication Of unsound-
ness or more than an entirely natural
and safe increase of commercial credit.
In trading the failures were less than in
the same month Of any previous year
and but for few builders and con-
tractors would have been in manufacture
ing also. In most of the large branches
Of manufacture and also Of trade fail
ures were smaller than in any other year
or in any other year but one.
The state Of business has been repre-
scented to fit and used to support several
hundred theories already. The simple
fact is that some reaction from the alb
normal excitement and expansion and
rise of prices last year was necessary to
continued prosperity. Its duration may
therefore be expected to depend on the
promptncss with which production and
prices adjust themselves to actual de-
mands. Much progress in that adjust
ment has been made during the past
week. with increased activity already re.
sulting. Strikes springing from disputes
about the terms of work and wages fol
the coming year have also made distinct
progress toward settlement.
The Metal Market.
The reduction in prices of iron and
steel and their products has gone fal
enough to bring out much new business
At the end of last week cut nails were
reduced 40 cents per key, and in plates
and bars somewhat lower prices have
been reported. Prices for sheets have
not yet been named. but in pipes anG
tubes there is some yielding, with larger
business in fence and other wire since
the reduction. Not Il sale of bessemel
pig is reported, the association still ask
ing $2490 while eastern pig is offered al
pittsburg below S23, and local forge il
lower at $40, with eastern at $3.50
Chicago local coke has declined 80 cent:
and southern also. Eastern markets are
irregular, with growing belief that M
output exceeding consumption will re
duce prices until the demand again eX
pands. There are large foreign con
tracts for rig pending, and importan
sales of finished products for export have
been made So great is the stress o
need in other countries that March ex
ports of iron and steel were by far thu
largest ever known in any month.
helps toward better adjustment that cok'
is quoted 81 per ton lower than month
| ago, and anthracite has also declined.
April exports of breadstuffs have beer
| large. both wheat and corn surprising last
years record. Atlantic exports of whea
| in five weeks. -four included, have reach
| cd II .OSO903 bushels, against 1O.144.1 T
| last wear. Pacific exports 3,513,22o0 bush
| els, against 2.09O, 1871 last year, and corr
exports 15573.337. against 12,740.?4:
| last year. In spite of conflicting stories
| the movement of wheat from the farms
| continues larger than year ago. Th,
| price closed rs it opened, while corn de
| clined . cents.
| Failures for tho week have been in thu
| United States 200 against 15S last year
and - in Canada against % last year.