The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-07-06
HEAT AND THE STRIKES
ARE THE ONLY SETBACKS IN THE
BUSINESS SITUATION.
HaIf-Ye nrIy Record of Fail
ures-The Years Export Move
ment of Wheat and Corn.

NEW YORK. July 5.-R. G. Dun & Co.'S
weekly review of trade tomorrow will say:
Developments of fresh labor troubles is a
feature of a week that has been marked
for conservatism in many directions. but
throughout the country jobbing and retail
lines are busy and are handling goods at
prices which yield fair profits. There is a
reflection of this activity in the continued
improvement in the textile markets in the
East, and the uneaslness over the money
market does not extend beyond the ranks
of spectators in stocks. Crop reports con-
tinue gratifying. much good having been
done by rains in the middle West. Har-
vesting of winter wheat progresses favor
ably. Manufacturing has been interrupted
by the elements of labor agitation. Numer-
Gus prostrations from heat caused humane
employers to close mills during the most
distressing hours. while the sheet and hoop
workers were ordered to stop work until
certain disputed points are settled. No i'm
mediate settlement is anticipated. because
many plants need repair and others are
taking stock. Until the owners wish to re-
sumo their position will not be known. The
reduction of 25 cents on No. 2S sheets was
unexpected and not accompanied by any
general weakening of prices. Footwear
shops in New England are active on fall
lines. but local jobbers are less busy and
orders from statesmen on the road are light.
Leather is quiet but irmer. with a splendid
export demand for hemiock soles. WoOlens
and worsteds are selling better and raw
wool is taken more freely. but the average
OF one hundred grades, according to Coates
Brothers circular, was slightly lower, at
17-05 cents on July L.. Cottons are in better
domestic demand, but prices are held above
bids of shippers to China. and sales in
brown goods have decreased. Manufacture
ing, as a whole, is unusually active for the
season. Staple products are quiet, specula-
ton being restricted by depressing weather
and the long holidays taken by most of the
exchanges.
Commercial failures during the first half
of 1901 numbered $3.50. with liabilities of
S55. S04 $50, against 5.332 last year Tor St4,-
741.452. In manufacturing lines there We're
/ ,265 defaults, witt SCI, SCI .O4S liabilities, while
4.1s9 traders failed for $24 .S64,2 07. The i'm
provement over the preceding year was
most striking in brokerage and banking
insolvencies. which were $,206. 435 and $15,-
$50, 554. respectively. against so, 24,346 and
$25. So, $50 last year. This is the more note
worthy because the violent agitation in
Wall street during May was calculated TO
cause serious disturbance and the last week
Of June brought other failures through in
judicious speculation and poor banking
methods. While the half years statement
is gratifying, the second quarter makes a
much better showing. liabilities declining
81. 500. sS2 compared with the first quarter
and sl7,623.675 in comparison with the sec
ond quarter of 1900. The average liability
per failure was smaller than in the cor
responding three months of any year since
the records were first compiled. The pro-
portion of bad debts TO solvent yments
through clearing houses was but 90 cents
ceding 100 quarters recorded a lower ratio.
while the average amount of defaults To
each firm in business was but $50. SO, only
seven other quarterly periods making
smaller returns.
Bradstreet's summary of general condi-
tons is in about the same terms as Dun's.
commenting on failures. the review notes
that June failures were the smallest OF
any month this year. but liabilities were
swelled by a few heavy suspensions of
banks, and were the heaviest for more than
a year past. Considering the increased
volume OF business in the past two years.
the six months record is a very favorable
one. as the total number of failures for the
half year was 1865. with liabilities Of $685.
lSS :S62 and assets of a little less than one
half this amount.
Wheat. including flour, shipments for the
last week, 3.0lS.S32 in the corresponding
week of 1890. and ~S.75S.972 in 1899. Wheat ex-
ports for the cereal year 10000 are 2l7. 13S. SCI
bu. against 20.679. 40 the preceding season,
and 227, 7l5.S4S bu in 1859. Corn exports
for the week aggregate 2.240.9 33 bu. against
year ago. and 4.s97. IA i'm 1899. Corn exports
for the cereal year lgtV-0l are 116.6 S3. 100 bu,
against 20S.9 74. t3S the preceding season. and
l72. lao SIS in 1S9S-S9.