Show WEEKLY TRADE r I I if S I V Vr r f Cotton Cotton Failure Set New N mv Rec Ree Record S ord Old For Wor n nt T 1 t DEBTS DEBT IRE AR A f I EXCEED NATIONAL NATIO TOTAL TOTA POR FOR PORT T ELEVEN ELEN EEN MONTHS MONTH I IN 1899 18 4 Events Ev nt in South African A Asic iq an n War a a Fac Factor P F c tor tora a Will Will Profit Pr f When 5 peace Pe e is Restored Prices s in i Gen General General General eral Are Still Stil Slowly Sinking Speculation Restricted T S SS S 4 S New York June ju e 1 R G Dun Cos Weekly Review of Trade tomor tomorrow tomorrow tomorrow row say While returns of failures f in i May bv by branches of business bu cannot cin ot be riven iven until next week It can be stated that that not over six months in more than six years yeas have shown sho n as large defaulted liabilities as a May will show to the failure of a firm principally engaged in cotton cotOn brokerage The reported lia Ua liabilities blUe of this one firm exceed those of all firms failing in every ever month but one last year yer and in every month but b three in 1898 18 Manufacturing fail failures fal failures ures ure in four weeks of May were only 43 and trading failures while failures in brokerage and other oth r commercial lines Une amounted to 13 S The decline in cotton to 9 cents and the te reduction of regular print cloths to 3 31 cents at Fall Fal River Rive with wih outside sales ses at 3 cents indicate that tion In this ease case cae may tay have somewhat checked business and industry War News is a Factor The rapid progress of events in Af Africa A Africa rica ric with prospect that the war w will l end soon sn and the th gold supply from that tot region gion will wi be resumed has naturally natural al ally affected business busine and security ty mar rear markets marJ J on both sides of the ocean Needs of foreign borrowing may be much re reduced reduced reduced and hindrance to foreign invest investments investments investments ments here In large measure removed But the demands upon American merican ma machine machine machine chine works and other supplies are ae likely to be materially increased when whenever whenever ever eer the restoration of industries in South Africa Africa begins Prices Slowly Drop The most most conspicuous feature of do news is the steady progress to toward toward toward ward a lower level of prices for the chief materials of industry Without excitement and with wih very ver small smal sales it is believed the smallest ever eyer record recorded ed jn In May a at the th three chief eastern markets market except m in n 1893 prices of wool woo have declined so that the quota quotations tons in Coates Coate Brothers circular would average about 2184 2184 cents against 2472 at the highest point Feb FebLand Land 1816 a year ago The stagnant and hesitating condition of the dry goods market though not ot extending to the most favorite staples which were largely sold early Jn the season ha ha has caused much in prices of goods of oth othe h i grades so s that some Ies have been out by concessions co of 16 15 1 to O per ht ht from the th early quotations of tile the t season seaton son There is also more complaint otc ons and on this in n as well wel as a wool woolen en goods gods With Wih prices pric adjusted adjusted to a lower range al all textile branches branche might r ht expect greater rater activity ac i i Hides Also I Cheaper 1 The change in hides hide has ha made marked progress also the average verge at t Chicago declining ng over Over 3 per cent for the past pat week and an thus faH f about 17 per per cent from the highest t Large sup supplies supplies plies ples are mentioned in some grades but but the te we of th h manufacture ture has ha been Jeen pen the controlling feature Orders for boots and shoes sh have been reduced nuch more than shipments because I many works had ha orders order which are not yet exhausted The shipments in May have been smaller than in any other oter year since The ll were larger by per percent cent in 1890 1896 by In 1895 and by per ner Del cent crint last lat year yar Iron Iran on a Decline DeclineS S The i 1 in irn i nig g iron continues cont i ig grey g e forge iorge orge reach mj 1850 jt at Pi No 1 local dolce coke o e j 82 hat Eat at Chicago No 1 1 I anthracite and Easterner mer 22 at Phila Philadelphia Philadelphia delphia and Lehigh No 1 22 here here 1 Only small changes have appeared dur during during durIng ing the weel in prices pr ces of finished pro i i ducts d but but these the are toward lower fig figures fg I I ures urea There are current statements statement that some of the just lust taken I by the steel sheet company have been sold back to former owners and that properties of the Steel hoop company will vi be divided likewise but it is not at all surprising If i f a few out of so many combinations result resul in the disappointment disappointment disappointment of some sOIe Probably a lower quotation for Bessemer pig may ma be ac accepted by the association in the cen central central central region for the th latter later half of the year as s the closing cosing of man many works owing to reduced demand may leave these furnaces f without full ful employ employment employment ment The acceptance of two large contracts for export export one for by southern works Is a good sign Failures for the week have been in tie tie United States against last year Yer and 21 in Canada against 14 1 last lasty year y ar arNe S New Ne York June iune 1 Bradstreets financial review w tomorrow tomorroW will wi say Speculative dealings de have again been beenS of a restricted kind and the S public ap appear app pear p ar to develop no real interest inter st in the stock market The investment demand for bonds and dividend paying stocks continues s to be excellent and it is ap apparent apparent apparent parent that the floating flating supply of such securities is considerably smaller than in recent years The developments of the week have in the main been of a favorable char character character acter London has ha reopened to the successful outcome of ot the war in South Africa Afrie and the assurance that the gold mines of the te Rand are safe with wih an advance in hi ii which American stocks have participated to a a certain extent The buying of our securities for for foreign foreign eign eig account has not however been on ona ona ona a sufficiently large scale to have much practical Influence upon the tone of the tite market here or unon uton current quotations fOr f r speculative shares Gold old Outflow at an nit a End Another development is the decline of exchange rates to a level which puts an end to any apprehension as to ship shipments shipments shipments ments of gold Early this week it I be became became came apparent that no further with of 5 ecle either from London or Paris would be made and the situa situation sita situation tion ton in hl this respect has shaped itself so that the gold outflow is over for tor the season seaon Money is becoming decidedly easier asler in London and the other foreign financial centers canters open discount at the British capital being down to 2 23 per percent cert cent a I drop of 1 l per cent In a month The The ease of money abroad with wih the cheerful news from South Africa seems likely to result r in the development of ofa ofa ofa a a speculative movement in London of more than ordinary ordina proportion al although although although though it must be admitted that th t thus ins for t the London stock market has taken the situation quietly and does not seem disposed to indulge in any over drawn excitement S 5 f Sugar u ar War is Over OverT y r T r which has ha a considerable influence unon upon the temper I of Wall Val street is the accumulating evi evidence evidence evidence dence that that the scaled ugar sugar trade war is practically ended even if there has been ben no formal settlement among tIle the tie refining interests It I has ha been point pointed pointed pointed ed out for some time that the tho ourse of ofHie the Hie capitalists c interested inthe i hi J e busi business busine ness ns ne sa was one which necessitated lie a ac ac compromise c when all an parties artes were thoroughly tired of their losses l es It I Js fsr r L Ice that the t th n Amen Ameri A AmenI mer r I cn Sugar Refining company and the 1 opposition refineries should within the thelast last few weeks have advanced prices to a le seems to afford a fair fain profit and the speculative not un unnaturally Unnaturally naturally draws the te inference that this I is the result reul of an agreement or ar among the parties paries In inter interest Interest Interest est While nothing cap can cat be learned as asto a asto to the facts there has ha been beeh heavy covering of shorts short in sugar stocks and a d dnn an nn advance in its price to making it i the most active as well wel as the th strongest feature fea tune ture of the market market The he steel L ck have been irregular and heavy on the news that further reductions in prices were scored in western markets S At the same time the liquidation in inI I these stocks seems to be over ever and in f some cases case covering by a short inter interest interest est et resulted in an improvement of their market position It I may m y also be said sold I that the tobacco stocks contributed contrib to toward toward toward ward the strength of the general mar market mart ket kat because while wItHe they showed no de decided decided decided t improvement the selling in inI I them has ha ceased and the fear of com cam competitive comI I opposition has ha diminished The railroad list has ha been strong to steady particular attention being paid pad to I Burlington Northern Norther Pacific common and and Atchison preferred In ln the wo vo I latter cases caes prospective increases in inI dividend rate te are the main reasons for forthe forthe forthe I the support extended to t them |