The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-06-02
WEEKLY REVIEW OF TRADE
DEFA ULTLD LI1BILITIES FOR MA Y
VERY HE4YY.
The Decline in Couon-steady Progress
Toward lower Level of Prices for
the Chief Materials of Industry,

The Gblek NlntSHAntB OF kndnbtEY,
New York, June 1.--R. G. Dun & Co. S
review Of trade for the week win say:
While returns of failures in May by
branches of business cannot be given
until next week, it can be stated that
not any six months in more than six
years have shown as large defaulted
liabilities as May will show, owing to
the failure of firm principally engaged
in cotton brokerage. The reported LA
bilities of this one firm exceed those of
all firms failing in every month but one
last year and in every month but three
in 1898.
The decline in cotton to nine cents,
and the reduction of regular print
cloths to is cents at Fall River, with
outside sales at 8 cents, indicate that
speculation in this case may have some
what checked business and industry.
The most conspicuous feature of do
mestic 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,
it is believed the smallest ever recorded
in May at the three chief eastern mar
kets except in 1893, prices of wool have
declined so that the hundred quotations
in Coates Bros. circular would average
: about PISA cents, against 24.72 at the
highest point February LIST, and 1915 a
year ago. The stagnant and hesitatfng
condition of the goods market, though
not extending to the most favorite sta
pies, which We're largely sold early in
hor la.
ity in prices of goods of other grades,
SO that some have been cleared out by
concessions of Is to 20 per cent. from
the early quotations Of the season.
There is also more complaint of can
cellations, and on this occasion in cot
ton as well aa wooden goods. With
prices adjusted to a lower range all tex
tile branches might expect greater ac-
tivity.
The change in hides has made marked
progress also, the ACREAGE at Chicago
declining over 3 per cent. for the past
week, and thus far about II per cent.
from the highest point. Large sup
plies are mentioned in some grades, but
the weakness of the manufacture has
been the controlling feature. Orders for
boots and shoes have been reduced
much more than shipments, because
many works had orders which are not
yet exhausted But new business is not
enough to keep nearly the full force at
work, and with many works closed
down and others working short time on
force, the shipments in May have been
smaller than in any other year since
1892. They We're larger by ia per cent.
in 1896, by 22.S per cent. in 1895 and by
277 per cent. last year.
The decline In pig iron continues, grey
forge reaching $3.50 at Pittsburg, No. 1
local coke S22 at Chicago, No. 1 anthra-
cite and bessener 500 at Philadelphia
and Lehigh No. ! $21 here
The outward movement of breadstuffs
continues well sustained, Atlantic ex-
ports of wheat in five weeks having
amounted including flour, to 1888, 592
bushels against 11,2069 last year, Pa
citlc exports to 3,275, 607 bushels against
2,204,632, and corn exports to 1874 ,065
bushels against 13, 433S1S last year The
markets have been curiously inactive
and wheat has not changed, while corn
gained only a fraction.
Failures for the week have been 100
in the United States against las last
year and p in Canada against IA last
year.