Barre evening telegram. (Barre, Vt.) 1898-19??, 1902-02-08
FAILURES OF JANUARY.
Final Returns Show Unusually Large
Number OF InsOlvencies.
MANY DEFAULTING TRADERS.
Dun's Review Reports Famine Con-
ditiOns In the Market For Pig
Iron. but Comparative Quiet
In the Produce World.

| New York, Feb. S.-R. &. Dun Il Co. 3
weekly review of trade says:
| Final returns of commercial failures
during January exhibit an exception
ally large number Of insolvencies and
also an unusual amount of defaulted
liabilities. In manufacturing lines
there were 2G4 failures, involving $G.-
3OS,94S. an increase of 81 6O1 .964 over
, the liabilities last year. Defaulting
traders numbered 1,12O, with liabilities
| of $1,1l6.01., an increase of 112 in
number and 81. 800, 16S in amount Mis-
|,cellaneous failures were 30 in number
and $So6,5Sl in liabilities. exceeding
January, 1901. by ten in number, but
showing a decrease of $321 Az in de-
faulted liabilities.
Exclusive of tiduciary insolvences.
which were also of exceptional size,
failures in strictly commercial chan
neIs numbered ,434 and involved S14.
312.5O1 against 1.242 in January. 1901.
for $11,22O,s11. Twenty defaults for
| over 100000 each account for over
81 600, 900 of the months losses. but of
smaller failures the aggregate was also
heavy. the average liability to each
manufacturing failure for less than
100000 exceeding the average Il year
ago by 30 per cent.
Interruption to railway traffic and
outdoor work by severe storms was
the only unfavorable factor in the
business situation during the past
week. while manufacturing activity
increased. and distribution through re-
tail channels was uudiminished. Re
ports from the west are especially ell
couragin9 but a few southern points
are slow to exhibit improvement. Rail
way earnings continue their monoto
nous record of increase.
Activity in general at shoe shops. par
ticularly at the west. and New England
per cent more than last year. No con-
cessions are made from the recent adj
vance, but there are still buyers who
prefeE to accept poorer quality at old
prices. Retailers report larger stocks.
though not more than will be required
Iron and Steel Market.
Famine conditions exist in the mar
kct for pig iron. 1t il doubtful whether
there was ever Il time in the history of
the nation when this metal was so
scarce. Considering the fact that pro-
ducton during 1901 was far beyond all
previous records. the present shortage
gives indisputablc evidence of the UNI
rate at Which the mills
nave been consuming. Controlling in
terests deprecate all tendencies to in
fate prices. recognizing the fact that
the continued heavy consumption Is de-
pendent upon quotations held at a rea
sonable point. Nevertheless, If deiv-
cries are wanted before July I, it is Of I
len necessary to pay Il premium. and
consumers have been compelled in some {
instances to place orders abroad.
Efforts are being made to repurchase
ron sent abroad last year. since that !
may evade the duty German billets
ire still arriving. but the market
abroad is advancing. which will tend
% check the movement. Numerous new
oar. billet. sheet and tin plate plants
ire under consideration. Structural
material supplies are utterly made
lllate, and the action of the Chicago
council repeating the ordinance limiting
he height of buildings has placed
many new contracts OH the market.
Railways are so urgent for supplies
that an order for rails may go abroad.
In the light of these reports it is not
that exports of iron and steel
fall off and foreign contracts receive
scanty attention.
Compared with the erratic course of
the cereals during the preceding month
Or two. produce markets have been
uuet this week Dullness and lack OF
special influences We're not productive
Of weakness. however. former quot,-
tons being stubburlly maintained. In
The case of corn there are many OK
pressiOlis of faith in lower prices with
cut aggressive speculation on the short
side. There was no support III Allan
tic exports of l229i, bushels, compar-
I'd with ;;.373. 464 Il year ago. Heavy
storms curtailed the interior movement
10 1,:.)2. 500 bushes 3.r,inSt 5.O16.S
last year. Exporters of wheat evince
A disposition to wait for easier terms.
but shipments on old orders were I. 1877
i96 bushels against 4,33O,9S1 a year
ago