The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-09-29
TRADE AND FINANCE.
GENERAL CONDITION OF BUSINESS.

70 AAoAAoA AMI - 1l1Nl1I VI
!, GENERAL CONDITION OF BUSINESS
o No Improvement Over Last Weeks II,
ports-Ths Number and Character OF
: Financial Disasters for tho Past Nine
|. alonths-status Of Wool and Iron.
New ioRE, September o7.-Bndsirte.'
Journal in It's commercial summary says
, Special kilograms to Bra'istreei's ycsterda,
reported general trade throughout tlt
country no better than heretofore. Til,
movement Of merchandise Is still notice
ably below the average. and the East and
West trunk line railways are vigorously
| cutting rates TO get what trnflic there n,
At New York, Boston, Philadelphia, and
Baltimore the distribution Of goods Is still
below anticipations, and the situation gen.
orally is unsatisfactory. This holds true
Of most OF the larger cities within the lati.
tude covered by tho four cities as far West
as st. Louis, where there is an unexpect.
Cd improvement. Sales by jobbers have
increased, and for cash notably so, and
the demand for money hns become larger
md rates higher. This Is In direct con.
trast to tho situation at Chicago, where
tho demand for merchandise rs well rs for
loans is less. In the Atlantic and Gulf
States trade generally is improving some,
and the situation on the whole may be
called relatively better than the Eastern.
Middle and Central Western States. =
THE DRAWBACKS
are the dullness Of naval stores and the
low prices which Georgia cotton mills re-
ceiyc for their products. The Louisiana
rice crop is said to be, % per cent short,
and cotton seed products will fall below
last year. Southwestern farmers have
shipped their products relatively more
freely than those in the Northwest, which
goes fur to explain the business situation
ut st. Louis. Further North there Ia n
widespread disposition to hold back wheat
owing to the low prices Quotations for
the latter have been tirmer owing to the
better cable reports of n smaller quantity
IN sight Oh land and sea, and the iact That
the United States can sci, mt 4 profit even
at current figures together with light re-.
ceipts at tho West. better weather in the
Northwest has improved the quality. Of
wheat. At San Francisco there has been
visible improvement in general trade.
Iron is unchanged, with signs Of new
strength further west. Steel rails ut s.
per ton higher, and talk is heard OF SIS.
The dry goods markets are comparative.
!!y quiet and easier, with buyers continu.
ing the policy Of restricting purchases to
Immediate wants. .@'E.#
Taerc were 20l failures in the United
States reported to Brudaireets during the
week, against 206 in the preceding week
and lG+, ia, and III in the CORRESPONDING
weeks Of 1883, 1882 and 1881 respectively.
About 50 percent we're those Of small
traders whose capital was less than S.
600. Among the suspensions reported
were Burdett 4 Pond, rubber importers. |
New York City; Chadwick, Peters 4
Holt, Wholesale dry goods, Syracuse, N,
r.; Simon Hays & Sons, Wholesale cloth
ing, Rochester, n. y; Newco,nb. Bucllau.
an Company Distillery, Louisville.
DISASTERS IN TIE PAST NINE MONTHS.
Bradstree.'s Journal, in reviewing tho
failures for the past nine months and the |
prospects for the remaining quarter, says:
The outlook is for greater number Of
failures during the current year than was
indicated six months ago, For three
quarters Of 1852 the total number OF fail
ures reported amounted to 10 percent OF
the whole number ultimately reported for
that year, and in 1883 the total for the first
nine months cqualed 72 percent of the
whole number. If the number. reported
for nine months Of 1884, taken at the
weekly average Of 20S failures for the |
third quarter entire, be called II perent |
Of the total for the year. the number for
the twelve months promises to exceed
1850. An examination Of the weekly |
averages shows that the gain Of about
1000 in the prospective total for 1854 las
between April 9th and to-day)i is due TO |
the striking increase OF some Afty-two
failures weekly on tho average during the
months Of July, August and September,
as compared with the record for those
months in 1888. In the first quarter oi !
1854 the excess OF average failures was but
eight failures weekly, and in tho second
quarter but four failures each week, as
against the record for 1883. For tho first
nine months Of the current year to and in
Guiding September 30th, the Indications
arc that tho total number OF failures in$I
the United States will aggregate $500, as
compared with 1858 failures fn like por-
ton Of 1888. ,'7.:aT;
THE NUMBER OF BANK FAILURES
in the United States in the past niuc
months is four times rs large rs those in a
like period in 1889. There have beer,
twice rs many failures Of National banks,
five times as many OF savings institutions,
and more than three and one-half times
as many, private bank failures. OF the
whole, about 20 per cent have been pri-
vate banks, as compared with GG percent
last year; about 10 percent savings banks.
rs compared will, about s percent last
year, and about 10 percent National banks.
against 20 percent last year. The heavy
gain in mortality has been
among incorporated State hanks. The in
crease in private bank failures OF IS is
largely in part due to speculation, many,
OF the class dcnominated private bankers
heng OF the "banker and broker variety.
Out Of the total Of fourteen National banks
since January |, one.half, OF
seven, only were due to criminal careless.
ness and TO fraudulent handling OF the
funds. In the case OF five others want OF
judgment in investing the bunk's funds Is
found to be Mt the root Of the suspensions.
One suspension was caused by run. Out
Of III bank failures in thirty:eight weeks,
10 only are found TO be due to fro,ltls and
to embezzlement, seven OF National, five
Of State, and four Of private banking in
Z. i. s ~! >'5
., - E Si5tsf WOOL. S, = q, al 2y.i
BosroS, September 27.-Thc Aarerliser
in its weekly review Of the wool market
says: Tho wool market, it is now seen,
will not improve untillgoods do better,