The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-04-07
FIRST QUARTERS
FAILURES LARGE
When Compared With Those
of Last Year.
LIABILITIES S56,677,O55
Some Labor Disputes Threaten to Last
Several Months.
ATLANTIC EXPORTS OF WHEAT LARGER
Dealings For the Future in Cotton Goods | h
dered. Business in WooIens Unsatsf e.
tory. A Great Consolidation in
Steel Talked Of.
(By the Associated Press.)

New York, April 6.-R. G. Dun and
Company's weekly Review of Trade to-
morrow will say:
Only twice. in twenty-five years
would such failures as these of the first
quarter of 1900 have seemed large. They
are large compared with last year and
1898, and woul have looked larger in
1888. The amount of liabilities, 56,677,-
Goo, includes $21 ISL 900 for the United
States Flour Milling Company and 2,492, :
1S2 for sixteen banks and other financial
corporations, leaving 1884 commercial
failures, with $33,022572 liabilities. Act
ual defaults in manufacturing are small
er than in the first quarter of any year
except 1899 since classified failures be-
gan, as are trading liabilities and while
Massachusetts and New England failures
nave been larger than in the first quarter
OF any other year since 1894, reports
from other States and sections are mainly
smaller than in any other years, except
ing the last. In the Southern and Pacific
states, the failures were smaller than
in the same quarter of any other year.
1t is to exceptional and not to general
conditions that any increase is due
''Quarterly reviews today show that out
side the immediate effects of stock specu-
iation and industrial consultations, the
volume Of business has been larger this
year than year ago. At that time the
extensive rise in wages which followed
combination 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 unusual spring demands
for higher wages have been granted or
in part granted by compromise, so that no
more than the usual hindrance from that
source now seems probable. Some of the
disputes threaten to last for some months.
"a little increase in foreign exports of
wheat from Atlantic ports, including flour,
2,26S,622 bushels against 2,0747 69 bushels
last year, served as occasion for little
rise, but the gain was lost later and
the week closes unchanged. Pacific eX-
ports were 1,025125 bushels against 392-
S76 bushels last year. Corn exports $685.
915 bushels against 34124S0 bushels last
year for the week showed not much great
er gain, while receipts were over a mill
lion bushels larger than last year. but
the price rose 115c. While supplies re-
manning are comparatively small slight
changes in movement affect prices much.
This fact rather than any changes in po-
sition or prospects must account for the
rise to 975, with insignificant change in
options.
''The steel sheet consolidation, with
President McMurtry, of the Apollo Works
at the head, promises great Importance.
II this, the tin plate, hoop and National
Steel works make alliance with the Car
negie 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 including one purchase of rails
fer export and the situation is generally
more hopeful Changes in minor metals
are not important, though copper grows
steadily stronger, with exports of 1910
tons from only three ports this month.
The output CT coke continues much the
largest ever known.
Failures for the week are 159 in the
United States against 141 last year. and %
in Canada against II last year