The age-herald., 1900-03-03
DUN'S WEEKLY
 TRADE REVIEW The Iron and Steel Industry Con-
 tinueS Active. MANY BUSINESS FAILURES The Rise of Cotton to Nine and Half Cents Has Done Much to Stimulate Business Draw
 ing from the South
MANY BUSINESS FAILURES

New York, March 2.-R. G. Dun & Co., weekly review of trade tomorrow will say:
 Besides the SS1 commercial failures for $9,93104S which was reported today, there were in February six banking failures for $62O,121, and receivers were appointed for the United States Flour Milling company, with $25, FOG, 900 of stock and $15OOO,OOO of bonds, as authorized at its organization last April, and for the Third Avenue Rail- road company after liens for several mil lions had been placed upon the property Unless separated from such events com mercfal failures could not be compared with benefit. The manufacturing failures for $4.270,3 3S1 were larger than in February of 1896 1895, but more than half the amount was in two classes, four large lum- ber and one clothing failure making 3S per cent. of the whole. The trading failures were larger than in February of last year
 only, but 20 per cent. of these defaults were made in five failures.
 The rise of cotton to 91s cents, the highest point since January, 1885, has done much 10 stimulate business drawing from southern planta tions and country towns more than double the quantity marketed last year, distributing millions to producers, whose purchases of supplies are thus increased, and swelling beyond all expectation the purchases for export. Selling of cotton by people who had none but felt certain the.' g cents would mark the limit ,af ..ssie rise, had placed them quite at the mercy of holders. But the markets both for goods and fc~ cotton have been affected all over the world, and the country will reap some benefit in a larger excess of merchandise exports over imports. The market for goods has been pushed to greater activity, though they have risen only per cent. since the year began, while the material has risen over 25 per cent Except across the ocean, where events in South Africa caused all business to be forgotten, changes in the stock market rank next in financial interest to the rise of cotton It was revelation of the appreciation in which American railway stocks are held, to see them strongly supported, with Third Ave nue falling to about 50 and flour milling dis missed to the hands of receivers.
 The small rise in wheat last week, al- though the price is quite low, sufficed to call from the farms such receipts as 4,1O5,- 661 bushels, against 3,195,437 bushels last year, WHICH lnulCaleS tidt tHS 5uppiOo diC not nearly exhausted
 The iron and steel industry continues the greatest weekly output ever known, even while men speak of it as waiting for more definite assurance about the future. Prices of pig yield a little. Some sales of Besse- mer have been made at Pittsburg for $24, and anthracite No. 1 is quoted here at $23 50. Billets have been sold at $33 at For most finished products the prices are stronger than a week ago.
 Coke is scarce and higher, in spite of the largest output ever known, and the wages of hands have been raised 12la per cent to the highest ever paid.
 The decline in hides at Chicago contin- ues, having been over per cent. the past week and per cent. from the highest point in December. Leather has declined only per cent. from the highest point, and part of that only in exceptionally large transac- tions, presumably meant to be private.
 Failures for the week have been 222 in the United States, against 1SS last year, and 2S in Canada, against 47 last year.