Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-11-09
formerly che United Railroads of Saa
Francisco.


October Business Mortality
TIE classification OF October failures
shows that 600 per cent Of tho 170S
defaults reported to r. @. Dun 4 Co.
for that month occurred among traders.
while 2T.2 per cent were manufactur .
ing insolvencies. The remainder. Or
3.8 per cent Of the total number, rem.
resented failures Of agents, brokers and
other similar concerns which cannot be
properly included in either manuiAc .
turing or trading. In September, when
all commercial defaults numbered 1900,
tho trading clnss supplied. O1.O per cent
OF the aggregate, manufacturers D.
per cent. and agents. brokers, etc., Al
per cent. It thus appears that the ratio
OF insOlvencies among manufacturers,
and agents, brokers, etc., was lower In
In the trading department.
Both actually and relatively, the
largest liabilities In October were In .
volved by the manufacturing failures.
which were equivalent to 45.4 per cent
Of the total Of S84, ,847 ,43S for ali
classes, as against 44.2 per cent for the
trading defaults and 1914 per cent for
the ineolvencics among agents. brokers',
etc. The respective percentages In Eep.
tember were 400 for manufacturing.
45.0 for trading and 1873 for agents,
brokers' and similar concerns, tho total
Indebtedness for that month being $40, /.
DOS, ~. The manufacturing class.
therefore, alone showed q higher ratio
In October than in September, and the
aggregate Indebtedness Of all failures,
despite considerable increase In mum.
ber., was fully $4,000 900 less than that
OF the earlier month.
Iron Production Picking Up
"Pig iron production in October gives
good gauge Of the rapid picking up of
the industry after the coal strike" says
the Iron Age, in its weekly review.
There was gain Of 26 per cent over
September ond more blast furnaces are
active today thnn at any time since
December, 1920.
"Apparently, incrense in steel output
has correspondcd to that In pig iron,
and steel companies arc operating this
week at fully 70 per cent capacity.
With rate Of pig iron production close
to 32,00O.OOO tons a year steel ingot
production is probably not far from
SS. .OOO.O 900 tons a year.
Effect Of increased output on prices
Of both pig iron and finished steel IL
being watched by buyers and sellers.
Gar supply for movement Of ma.
terial away from mills is better on the
whole and movement Of coal to the
lakes Is likely to taper of in the next
three weeks. further improving car sit.
uation. OF 5000 new cars ordered
L. & N. bought 300.
Recent price concessions have not
stimulated buying in pig iron market
md avon S2K oricp m Alohoor. t.or
has resulted In few sales.
Rush to get iron and steel imports
into the country before tho new Tariff
Act went into effect rolled up ~. .3O3
tons in twenty zone days Of September,
greater than for amy calendar month
since tho late eighties"
Copper Situation
Despite the firmer tone 10 the COPPER
market, there IL no one willing to pre-.
dict any sharp advance in quotations
in the near future. 1t is felt II cents
is about the highest price that can be
expected for the time being, as the be.
lief prevails any attempt to get the red
metal above that level would be frus.
trated by the Chile copper interests, as
in the past, when they offered the price
down to discourage any further up.
turn,
The attitude of tho Chile interests
is being closely watched. Some trade
authorities are of the opinion that tho
South American producers and their
sponsors will take every step possible