The Minneapolis journal., 1901-07-06
BUSINESS OF WEEK
Jobbing and Retail Lines Continue
Busy.
STRIKES HINDER MANUFACTURE
Analysis of the Failures for the
First Half of the Fiscal
Year.

New York, July 6.-Dun & Co.'s Weekly
Review of Trade says
Developments of fresh labor troubles are a
feature Of a week that has made for con-
servatism 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 act
ivity in the continued improvement in the
textile markets in the east and the uneasi-
ness over the money market does not extend
beyond the ranks Of spectators in stocks.
Crop reports continue gratifying, much good
having been done by rains in the middle
west. Harvesting of winter wheat progresses
fayoraby
Manufacturing has been interrupted by the
elements and labor agitation. Numerous
prostrations from heat caused humane en-
ployers to close mills during the most dis
tressing hours, while the sheet and hoop
workers were ordered to stop work until Ger
tain disputed points were settled. No i'm
mediate settlement is anticipated
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 frmer, with a
splendid export demand for hemlock soles.
Woolene and worsteds are selling better and
raw wool is being taken more freely, but the
average of 100 grades, according to Coates
Bros. circular, was slightly lower, at 17.O6,
oil July l. Cottons are In better domestic
demand, but prices are held above bids of
shippers to China, and sales in the brown
goods division have decreased. Manufactu-
rers, as a whole. are unusually active for the
season.
Staple products are quiet, speculation being
restricted by depressing weather and the
lengthy holidays at 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, though foreign needs are known to
be heavy Corn steadied somewhat because
of reported injury from heat and drought
Receipts continued light in comparison with
last years, but exports are equally unsatis-
factory. Cotton holds firmly at point lit
tie below sc, the free movement into sight Of
| the old crop being disregarded. Strength is
found in greater activity in the goods mar
ket, together with rumors of rain in Texas
and a few other states where moisture is de-
| fcient
Compared with the prices of year ago,
| wheat shows a decline of about lie bushel
cotton $6.25 bale and coffee 3ssc a pound,
| while corn is not higher than last years
| price and pork products alone of these com
! modities show an advance
Commercial failures during the first half Of
JSVA numbered 0.l09, with Liabilities of $685.,
| SO4,690, against 5,S92 last year for $74,745 ,452
In manufacturing lines there were 1865 de-
faults with $21691.0 .048 liabilities while 4,1s9
| traders failed for $24, 1854, ,2O7. The improve
ment over the preceding year was most strik-
ing in brokerage and banking insolvencies
which were $9,2O0,495 and SIS, ,8S9, ,554 respect
lively, against $22, ,345 and $25, ,822, ,6S2 last
year. This Is the more noteworthy because
the violent agitation in Wall street during
May was calculated to cause serious disturb
ance. and the last week of June brought other
| failures through injudicious speculation and
poor banking methods
| While the half years statement is gratify-
ing, the second quarter makes much better
! showing, liabilities declining $7,902, ,2S2 COM
pared with the first quarter ana s17, ,62S. .675 in
| comparison with the second quarter of 1900
! The average liability per failure was smaller
| than in The corresponding three months OF
any year since the records were first COM
piled The proportion of bad debts to solvent
paymnts through clearing houses was but SO
cents to each $1,000 and only one out of the
preceding 105 quarters recorded lower ratio.
while the average amount of defaults to each
firm in business was but $20.33, only seven
| other quarterly periods marked smaller re-
| turns.