The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-07-06
ALSO BY HOT WEATHER
Business Brisk in Jobbing and Re-
tail Lines.
COTTON IS FIRM WITH LITTLE CHANGE
Commercial FaiIurers During the First Half Of
1901 More in Number Than During The
Corresponding Period of 1900
But For Less Amount
(By the Associated Press.)

New York, July 5.-R. G. Dunn and
Companys weekly review of trade to-
morrow will say:
development of fresh labor troubles
is a feature of the week that has made
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 tex
tile markets in the east and the uneasi-
ness over the money market does not
extend beyond the ranks of specula-
tors in stocks. Crop reports continue
gratifying, much good having been done
by rains in the middle west. Harvesting
of winter wheat progresses favorably.
Manufacturing has been interrupted
by the elements and labor agitation.
Numerous prostrations from heat
caused humane employers to close mills
down during the most distressing hours,
while the sheet and hoop workers were
ordered to stop work until certain dis
puted points were settled. No imme-
date settlement is anticipated because
many plants need repair and others are
taking stock Until the owners wish
to resume their position will not be
known. The reduction of rs cents on
No .2S sheets was unexpected and not
accompanied by any general weakening
of prices. Cottons are in better do
nestle demand but prices are held
above bids of shippers to China and
sales in the brown goods division have
decreased. Manufacturing as a whole
is unusually active for the season.
STAPLE products are quiet, specula-
ton being restricted by depressing
weather and the lengthy holidays at the
most of the exchanges prevented new
commitments.
News from the west was full of
promise as to the growing wheat yield,
| causing a further decline in prices, al
| though foreign needs are known to be
heavy. Corn steadied somewhat be-
cause of reported injury from heat
and drought. Receipts continue light
| in comparison with last years, but ex-
ports are equally unsatisfactory. Cot
ton holds firmly at point little be-
low nine cents, the free movement in
to sight of the old crop being diSre-
garded. Strength is found in greater
activity in the goods market, together
with rumors of rain in Texas and few
other States where moisture is defic-
lent. Sales of number seven Rio coffee
have been made below six cents, which
is not surprising since receipts at Rio
and Santos ports for the crop year just
ended were little short of eleven mil
lion bags. Even this record breaking
will he
yield is equal to expectations. Compar
ed with the prices of year ago wheat
shows a decline Of about eleven cents
bushel, cotton 1925 a bale and coffee
8 3-Sc pound, while corn is not higher
than last years price and pork pro-
ducts alone of these commodities show
any advance.
Commercial failures during the first
half of 1901 numbered 5.759, with liabil-
tiles of $S5, 1904, 500, against 1882 last
year for 74,747 452. In manufacturing
lines there were 1,265 defaults with
$21 sol ,04S liabilities, while 4,1S9 traders
failed for S24,S64,207. The improve
ment over the preceding year was
most striking in brokerage and banking
insolvencies which were $9,249,435 and
S15,S39,554 respectively, against s22 1874
SAG and S25 1922, 6S2 last year. This is the
more noteworthy because the violent
agitation in Wall Street during May
was calculated to cause serious dis
turbance and the last week of June
brought other failures through injudi
cious speculation and poor banking
methods.
while the half years statement is
gratifying, the second quarter makes
a much better showing, liabilities de-
Ginning $7602 ,2S2, compared with the
first quarter and $17,623,675 in compari
son with the second quarter of 1900.
The average liabilities per failure was
smaller than in the corresponding
months of any year since these records
smaller than in the corresponding three
months of any year since these records
were first compiled The proportion of
bad debts to solvent payments through
clearing houses was but So cents to each
81 900 and only one out of the proceed
ing los quarters recorded lower ratio,
while the average amount of defaults
to each firm in business was but $20.33,
only seven other quarterly periods
making smaller returns"