The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-07-14
IN TIME OF GREAT DANGER
Dun & Co. Argue That Conditions Are
Very Satisfactory.
RESULTS OF SPECULATION IN COTTON
Prices Have Been Held Too High For the Com
fort Of Foreign Spirners. But the
Closing Of Factories Will
Bring Remedy.
Bring a Remedy.
(By the Associated Press.

New York July 13.-R. G. Dun &
Company's Weekly Review oe Trade to-
morrow will say:
eff the great increase in failures to
500, 570,134 in the first half of 1900,
against $40, 664 Gel last year, and especial
ly to $43, S93, 079 in the second quarter
against $21 sos 635 last year gave no oc-
cason for diligent search failure returns
would be worth nothing. But today it is
shown that 80 banking failures for $685.
S22,6S2 against 81 last year for 81, SOL
72S accounted for much of the differ
ences; that 265 brokerage AMI real es-
tate failures for 1921 p 3i5, against 1.5
last year for only $2,32S,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-
tors as 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
a normal state of business. When this
is seen and the remarkable steadiness
in number and size of the great majority
of failures not for exceptional amounts,
there appears ground for especial salts
faction that business has been on the
whole soundly conducted under conditions
of unusual danger.
THE Iron Age makes the output of pig
2S3 AS us weekly, July LIST, 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 S6,95S 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 adj
mitted at Pittsburg, where quotations
have been for some time nominal, and
Bessemer pig 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 month
or more a 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 out of crop called 5H 900 900
bushels: all it wants for food and seed
and 200000,000 bushels for export, with
considerable left ever in sight it is the
easy inference that anxiety is needless.
''There is no evidence as yet, and for
some time cannot be, that injuries sus-
tanned have been as great some sup
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 169 last
year. and rs in Canada, against "a last
year"