Barre evening telegram. (Barre, Vt.) 1898-19??, 1902-11-08
THE STATE OF TRADE
Dun's Review Says That Steady Prog.
ress Is Being Made.
FAILURES DURING OCTOBER.
Increase Noted Over Those For Same
Period Last Year - Reduction
In Tin Plate Prices-The
Cereal Markets.
IS DURING OCTOBER.


steady progress. reports from all sec-
tons of the country containing ev'-
dences OF wholesome development. An
unusually large fall distribution oc-
Cured and current transactions in
heavier goods are liberal considering
the mildness of the season Com
plants of slow freight movement are
still heard, testifying to the enormous
volume of business handled by the
railways, which report earnings for
October per cent larger than. last
year and II per cent above 1900. 1t
is the exception when manufacturing
plants have not contracts assuring
activity for many months, and annual
inventories will be taken with Difficult
ty owing to importunate customers.
Commercial failures in the United
States during the month of October
numbered 1853, involving liabilities of
$10,Sj1 534. while in the correspond
ing month last year there We're SG4
failures with an aggregate indebted
ness of S10,6S0.627. Manufacturing
defaults numbered 257 for $3.50, 1877.
against 2O5 year ago, for S4537, Isl.
Trading failures We're 632 in number
and $4,649.552 in amount, compared
with 610 in 1901 involving $4,311, 7SS.
Other commercial insolvencies num-
bered fifty-four, against forty-nine
last year, and liabilities were 1881. 195,
compared with S1,831.55S. Banking
and other fiduciary defaults were ten
276, two-thirds of this exceptionally
large amount being furnished by a
single overcapitalized corporation.
A few very large failures also &C.
count for As per cent of the total COM
mercial liabilities. the average of the
remaining 947 defaults amounting to
only $6,24S, an increase of but 1894
over last years average and less than
in any other year Of the decade If all
failures for 100000 or more are omit
ted in every case. The increase over
last years manufacturing liabilities
was not in any Of the leading
branches, but due to the unusually
large defaults in salt, coal and ice,
while the trading expansion was
caused by two large failures in cloth
ing and paints.
The Iron and steel Market.
The only development of note in the
iron and steel market has been the 10
per cent reduction in price of tin plates
to take effect Dec /. While some
change was anticipated, the trade was
not prepared for SO large cut: If the
recent lowering of price lists in GER
tain sections of the market should
stimulate foreign trade, there will be
occasion for qualification, as some ex-
ceptional export movement is needed
to offset the heavy imports of pig iron
and billets. Many furnaces have been
compelled to bank because of the poor
receipts of COKE and there is little evil
dence Of improvement in the railway
situation, motive power being utterly
inadequate. New sources of supply
are considered, and coke ovens will be
erected at more convenient points, but
no immediate help is promised. Con-
tural material for bridges and build
ings while plates are sought by car
works and shipyards. High premiums
are still paid for prompt delivery, but
most shipments are on old contracts
placed at regular list prices. Recent
enlargement Of facilities has greatly
increased production in many lines,
which explains the slightly easier
tone of the market as whole, but
there is no evidence of diminished de-
mand or unsound conditions.
Heavy rains at number of farm
centers were the only unfavorable
grain reports received, and the effect
was fully neutralized by further post
ponement of frost. This delay has un-
doubtedly added much to the total
yield of agricultural products, and the
general level of quotations has r
sponded. Liberal domestic c0nsump
ton, however. prevents any return o,
the low record prices Of previous years
when banner yields were harvested.
Visible supplies are still small, pre-
venting any aggressive speculative sell
ing, but there is also less activity on
the part of manipulators for an ad-
vance.
Receipts Of wheat still largely sur
pass the movement Of a year ago,
to 1857, $40 bushels against
5, 73S, 851, but are less than the arrivals
of 9,27S,67S last week. Exports from
the Atlantic coast have also decreased;
but, including the liberal outgo at the
west, the weeks total shipments from
the United States were 4,246, 239 bush
els compared with 5,651,4 year ago
and 1910, 164 bushels in 1900. Corn is
coming to market more freely than last |
year, receipts amounting to 2,127,O74
bushels against 1922, O59, but Atlantic |
exports were only 137,43O bushels
against 642. 14c year ago and 2,52O.-
ITO in 1900. Brighter crop prospects
md smaller exports depressed cotton. |
many authorities increasing their esti-
mates of the current yiold