The sun., 1901-08-03
THE FAILURES OF july
Favorable Statement Compared I'm
Same Month of Year Ago.
LATE PLANTED CORN SAVED
Dun's Review of Trade Says
oMciaI Returns show Recd
Breaking Aggregate For Hal
Years Pig Iron PrOductiOn.


! weekly review of trade says:
4 Failures in July were GOT in nunoer
against T93 last year and S7,035,93 III
amount of liabilities against S9,771lfo
in 1900. There were 155 defaults IN
/ manufacturing for SO, ,24O, 1873, cofnpaed
with 1873 for So, ,17T,6S2 year ago. mo
sos traders owing S3,353,914 against
$50 with liabilities of $3,324 1868 hst
year. Miscellaneous commercial ie-
faults, not properly included in eitaer
of the foregoing classes, were "a In
number and S4I1, ,S91 in amount, com
pared with 60 for S1,269,727 in 1900.
Banking defaults alone exhibited a ma
terial gain over last year, aggregating
STG5,0 900 against $201000.
Last months record of mercantile
mortality is especially gratifying, In
view of the many disturbing events,
for strikes and corn losses caused alarm
among merchants and almost panic
in speculative markets; hence there Is
encouragement in smaller liabilities
+ than in any preceding July since these
records were begun with the single
exception of 1899, when defaults We're
the lightest in any month of the past
"a. only excepting May of the same
year.
Continued favorable weather cOndi-
toms have resulted in the saving of
much late planted corn, and in the
northwest ideal weather for spring
wheat has been enjoyed. Violent huc-
tuations have marked the course of
corn prices. The top point of the pre-
vious week was not regained, but trad
ers on the short side of the market
We're compelled to cover at a loss. Gley-
er manipulation has been conspicuous
throughout the season, and holders of
old corn have received high prices for
the weeks receipts of 2.413,6O2 bush
els. The decrease in marketing Is not
in proportion to the advance in price.
from the high level Of prices, 1t certain
~ has driven foreign buyers out of the
market, Atlantic exports for the week
amounting to only 7Bi,17S bushels
against Z, 3,10G.931 year ago and 1908
l91 two years ago, at a difference IN
price OF Is and p cents respectively.
The Wheat Market.
Wheat is of less interest to specula-
tors, but i'll legitimate trading 1t is ex.
crptionally active, western receipts for
the week reaching 6,5OS311 bushels
against 5,02O I'll last year and 4.734,.
3G3 two years ago, while Atlantic eX.
ports We're 4.Sf5,996 bushels against
2,3I3, T9S in 1900 and 3, ,TG5, 1877 in 1899
Official returns Of pig iron produc'
tion in the first half Of the year show a
record breaking aggregate Of 7.674,7la
tons, exceeding the remarkable output
: Of the previous year by 32,044 tons
The second half of 1901 has opened
with much greater capacity of active
furnaces, and the full year promises Il
!, considerably larger total than the 13,
IS9.242 tons produced III 1900. While
a heavy yield Is not always an indica
!. tiun of sound conditions. since over
Q production brings disaster, the sltua
Z tion AT present is free from this dan
I ger owing 10 the ready consnmptv,
demand and absence of accommodating
stocks. During the past week leading
mills have placed large contracts fol
early delivery. and inquiries for al
forms Of finished steel are abundant
There is less disposition to pay fame,
prices for products that We're advance,
by the strike. which is an evidence o
the general belief in early resumption
OF work. An unfnyornhlp showing 70
the first half year in both exports an,
output Of copper resulted III the tirs
alteration III nominal price since til
!, advance to II cents eight months ago
Dealers in some drought stricken dis
triets have c0unternanded orders fo
footwear. and these cancellations ar
felt mainly hy western makers; but. Il
] Il whole, the industry is in II health
2 position. New England shops frequent
Y ~ decline orders that request deliver
!, before November, Indicating full en-
/ ployment for several months. The Ii
a cal iobbing trade is remarkably activ
e for the season.