The sun., 1901-05-04
THE APRIL FAILURES.
Creditable Showing Last Month, Says
Dun's Review.
IRON AND STEEL MEN BUSY.
Dullness Reported In Textiles. but
Market Fairly Steady Owing to
Belief That Decline Is
Nearly Over.

New York. May 3.-R. G. Dun & Co.'S
weekly review of trade says:
Commercial failures in April were
163 in number and S5,5T1 .222 in amount
of defaulted liabilities. In the previ-
Gus month insolvencies reached 50. 195,-
4,4 and year ago We're S9,I6l SGD.
The marvelously healthy condition of
business is best appreciated when it is
discovered that the defaults last month
We're the smallest in 81 months, with
the exception of May TO August, 1899.
inclusive. In manufacturing lines there
were but 163 failures. with total in
debtedness of Sl991 .694 against ITS
last year for S4.5li0O3.
As 1899 reported the smallest liabili-
ties of any full year in two decades.
last months good showing is made
manifest by defaults IN manufacturing
concerns STT1,9jl smaller than two
years ago. Trading failures We're coo
for S3.16S. S23, and banking defaults
We're Sl2D,UOO. The death rate was only
three-tiftieths of l per cent of all firms
in business. and losses averaged $40
not Il serious embarrassment to general
trade. The proportion of unpaid bills
was less than AZ cents for each $1,000
of solvent payments through clearing
houses.
Stability of prices and vigorous pros
ecutiOn of work at mills Indicate the
wholesome condition of the iron and
steel market. Throughout the entire
range of products of this industry the
current demand for immediate deliv-
| cry exceeds all previous records. yet
! makers maintain conservative posi-
| ton, and prices are not pushed up to
| the danger point 1t Is at the finishing
steel plants that there is the greatest
/ urgency for shipments. ana full capac
| ity is assured for the next three
\ months. After July there is prospect
of respite, Judging by the light engage
4 ments of pig iron, AMI following the I'm
1 paralplled activity Of the past sis
| months Il season of comparative quiet
| would not be surprising or unwelcome
| There was Il rush 10 get in orders foi
steel rails before the higher price he
came effective, and the erection Of new
Office buildings provides u great de
mand for structural material. Which i
also in considerable request on forcigl
contracts.
Textiles Still DUH.
Dullness is still reported in the tex
tiles. \ further reduction to 2.:6 cont.
for standard print cloths did not ac
celerate operations. MS buyers appeal
confident that goods will soon be avail
able ut ~. cents. This unsatisfactory,
condition Of tile Manufacture is no
helpful to raw cotton, nor is there sup
port in better prospects for the mex
crop and port receipts far in excess u
last years movement. Still there Is
feeling that the decline has gone ia
enough, ana this negative influence
holds the market fairly steady.
There is no Improvement in wuolcns
and Coates Bros. average Of 100 quo
tations of wool on May was III
cents against lT.9o on April and - I
year ago The London sale oppnc
with disappointing prices. Small col
ceSSuns are reported in Il few grade
of shoes. and in other cases manufat
turolS are making slightly better good
II old figures. Western iobhrrS are o
derin. more freely, aud shipments froi
eastern shops are larger than III IL
:. previous week or Il year ago LratlI,
is quiet, aside from activity in hritin
butts. hut the Chicago hide market
strong and active.
Further advances were secured in II
cereal market. Chicago spectators h
inc forced to cover May corn contIac
:. mt - cents. Attractive prices brougl
. more liberal receipts III interior citi,
" and also stimulated operations On Il
!. farms. Traders haze forced the ne
crop options 10 what seems an unre
sonnblc level. since there is evidrn
Of Il large yield despite delayed plan
J. ing through excessive moisture. Whe
I, also attained a high point. advancing
If sympathy with corn. According 10 60
n. respondents, there is reason To eXpr
d. heavy spring wheat crop this w;
g. In tile principal states Il full acrca
nj has been planted. and the weather
most favorable for gclIninaiion.
tile Pacific coast ana in other dumos
spring wheat sections as we'll ms
Manitoba Il larger area than usual
devoted to raising wheat this year.
Gun Carriage Fatality