The Forest Republican. [volume] (Tionesta, Pa.) 1869-1952, 1900-07-18
TRADE SOUNDLY CONDUCTED
Dun's Review says AN Analysis of Fail
ures shows 1.-THE Iron
situation.

NEW YORK, July ll.-R. q. Dun q
Co. S weekly review Of trade, issued to-
day, said in part:
If the great increase in failures to Sl00,570 1874
in the first half Of 1900, against 66l last
year and especially to SI3,S93070 in the second
quarter, agans; 81, ,lG9, ,65j last year gave no oc-
rason for dligent search, failure returns
would he worth nothing. But today it is shown
that 70 banking failures, S25, ,S22, ,6S2. against 81
Inst year, for S7,60l, ,12s, accounted for much of
the difference that 2j5 brokerage and real es-
tate failures, for So, l22 ,3i6. against ll5 last
year, for only $3,32S 2l5, accounted for another
part and that in building and lumber work
ing and trade other large failures distinctly
connected with those in real estate explain
much more OF the difference between manu-
featuring and trading failures last year and
this
In these and much less important changes in
a few other lines are seen substantially all the
commercial disasters as yet resulting from an
amazing rise in prices last year, followed by
weary but largely successful efforts during the
past few months to get back to normal state
Of business. When this is seen and the re-
mhrknble stcadiness in number and size of the
great majority of failures, not for ex optional
amounts there appears ground fOI especial
whole so Soundly conducted under conditions
of unusual danger.
The Iron Age malrs the output Of pig 2S3, ,Il3
tons weekly, July |, but the decrease Of 1900
tons has by this time been exceeded, other fur.
naccs having been stopped this month, and re-
pairs of works and of wage scalesIlnay vet oc-
cupy some weeks.
The increase of S6,gjS tons in stocks unsold
implies decrease in manufacture 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
admitted at Pittsburg, where quotations have
been FOR some time nominal, and Bessemer pig
is offered there at Sl6. The structural makers
decided not to reduce prices, but steel bars
there and plates at Philadelphia are said to
have sold at LIS in some cases. The sheet
works open Mondaylwith large orders. Coke
works, about ~ per cent idle, have no demand
now and in contracts it is said that even S2.5
would be shaded.
Some of the best wooden mills are closed in
part or in whole ON account Of the uncertainty
OF demand. Wool is growing weaker and even
offered by some western holders at prices
which We're refused not long ngo, but the mills
do not yet know what goods they will be able
to sell, and from a temporary idlencss there
seems for some ho escape.
Inv 'iu VI tne crop year mas Drought tne
usual estimates, which command not more CON
fidence than usual. If the country can get out
of crop officially called 547 OOOO0O bushels, all
1t wants for food and seed and 2OO0OO,O bush
els for export, with considerable left over in
sight, 1t is the easy Inference that anxiety is
needless.
There is not evidence as yet, and for some
time to come cannot be, that injuries ,Vls
tanned have been as great H. some suppose. 80
hot Rlnsa, -. 4.
last year.
Failures for the week have been l06 in the
United States, against 1859 last year, and 20 in
Canada, against y last year.