| Show j FAILURES Iii FEBRUARY During the Month Six Banks L Closed their Doors MILLING TRUST COLLAPSED There were Eight Hundred and Eightyone Commercinl Houses 5 Forced to the Wall The Manufacturing Manufac-turing Failures were Over Pour and OneQuarter Millions Larger than in February of Last Year Trading I Failures were also Larger but 20 Per Cent were in Firo Failures New York March 2 R G Dun Coa Weekly Review of Trade tomorrow tomor-row will say Besides the SSI commercial com-mercial failures for 0931018 which J were reported today there were In February six banking failures for 5620 J21 and receivers were appointed for the United Stales Flour Milling com pany with 25000 00 of stock and 51o 000000 of bonds authorized at its organization or-ganization last Aprl and for the Third Avenue Railroad company after liens for several millions had been placed upon the property Unless separated from such events commercial failures could not he compared with benefit The manufacturing failures for J2o7G3S were larger than in February Febru-ary of 1SOC or 1895 but more than half the amount was in two classes four large lumber and ono clothing failure f making SG per Cent of the whole Tho trading failures were larger than in February of last year only but 20 percent per-cent of these defaults were made In five failures Tn niorft branches the comparison with previous years Is encouraging and analysis brings out In strong light the remarkably low average of liabilities in the smaller failures which onstl Lute the great majority indicating sound business conditions and unusually unusual-ly Hatlsfactory coll > tlInns The rise of cotton to D c the highest point since January 1S03 has done much to stimulate the business drawing from Southern plantations and country towtm more than double the cjauntity marketed last year distributing distrib-uting millions to producers whose purchases r pur-chases of supplies are thus Increased and swelling beyond all expectation the purchases for export Heavy selling of cotton by people who had none but felt certain that 9 l cents would mark thy limit of the rise had placed them quite at the mercy of holders But tin markets both for goods and for cotton have been affected all over the world and the country will reap some bcnullt In a larger excess of merchandise exports over Imports Themarket for goods has been pushed to greater activity though they Have risen only 3 l per cent since the year began be-gan while the material has risen over 25 per cent Except across the ocean where events In South Africa caused nearly all business to be forgotten changrs in the stock market rank next In financial finan-cial Interest to the rise of cotton It was a revelation of the appreciation In which American railway stocks are held to see them strongly supported with Third Avenue falling to about 50 and flour milling dismissed to the hands of receivers tt Thesmall rise in wheat though the price Jsqulto low sulllceil to call from the farms such receipts llOoCGl bushels bush-els against 3195i7 last year as to indicate that supplies arc not nearly exhausted JSxportK from Atlantic ports continue con-tinue small for the week flour Included In-cluded only lS 12306 bushels against JOG99S1 last year and In four weekn from both coasts exports have been 13639260 against 14SKt373 bushels Though ixpnrtJ run behind last years which were almost unequaled they have already exceeded In eight months those of the full years and the exports of corn Jn four weeks 12724655 bushels against 12031055 laat pear explain ex-plain much of the dllllculty corn rising throequarters of u cent during the week while wheat declined 1e The Iron and steel Industry continues con-tinues the greatest weekly output ovei known even while men speak of It as waiting for more definite assurance ibout the future Price of pig yielded 11 little jjome sales of bessemer having been made at PIttsburg for 24 ami anthracite No 1 is quoted here at SJ350 Billets have been sold at S33 at Plllsburg For most finished products prices are stronger than a week ago or as strong bars and shoots being Btrengllienod by large business while only plates appear weaker 210 being quoted for sizes not the widest Coke Js scarce and higher lu spite of the largest output ever known and the wages of hands have been raised 12 per cent to the highest over paid The decline In hides at Chicago con tinues having been over 2 per cent the past week and 9 per cent from the highest polniin December leather has declined only 3 per cent from the highest Point and part of that t only in exceptionally large transact loins presumably pre-sumably meant to be private Boots and uhoeit have yielded very little and ninny dealer ended their Eastern trip without buying and intend lo wan until un-til April as they did lust year when they paid rather leas than the price askad In February Yet shipments on past orders have boon hi February 3S52H caRcH about GOOOO more than In 1S9S or any bluer year Failure for tin week have been 222 in the United States against 18S last l year and 28 In Canada against 47 last year |
