Morning journal and courier., 1885-07-07


 and F. 0. Chamberlain's Starlight, the tor mer winning by length or two. The fol lowing is the
 SUMMARY.
 800 class purse $50 divided.
 D. A. Upsons b. g. College Boy. ...:......... 1 F c Chamberlain's blk E Starlight
 Time 2:5O, BAY, 2:5115.
 Rain falling after the completion of the race, the balloon ascension was postponed until the end of the shower. At 6 o'clock the drags were cast off and the balloon mounting to an altitude of 800 or LOGO feet was carried rapidly to the southward by g strong breeze and disappeared. The balloon passed close to Talcott mountain tower and was seen by large number of people on the tower. It landed on the farm of MT. Pinney, about mile and half from the tower.
 The Colt IIammerless club of Hartford scored IFS, the Collinsville club 169 at the contest in shooting clay pigeons. The Win sted base ball nine defeated the Collinsville nine in seven innings, 12 to ?. The bicycle races were a fine feature of the day.
 THE BUSINESS OUTLOOK.
 A Few Failures That Relieve the
 General DuIIness of the Aspect
 and Hint at a Better Outlook.
 The R. G. Dun 6 Go. mercantile agency's review of the business outlook for July just issued at tho branch office in this city says:
 An increase in the number of failures for the six months amounting to less than 50O, among traders numbering over one million, is not, after all, circumstance of surprising character. Indeed, the increase in number is a triae as compared to the hopeful indica- ton found in the large diminntion of Habili- ties, the amount of indebtedness for the first half of 1885 being only STA, ,OOO, 900, as against SPA, 100000 in the corresponding period of 1884. With trade restricted in volume to the narrowest limits and with profits almost obliterated an increased num- Der of failures is surely not astonishing. Competition overproduction, with heavy business expenses, compared with the small amount of trade to be done, could result in little else than growth in mercantile casualties. But that the increase IS not an excessive one, and that the indebtedness 1n- volved shows a great: t:decline, is most hopeful sign It should also be borne in mind that the greater part of the increase in number of failures occurs in the first quarter of the year, and that during the second quarter the diminution is very marked, while ha- bilities show an enormous reduction. It IS pretty safe to conclude, from the figures we thus present, that the condition of internal commerce is an improving one, and that the failure statistics are of 8 much more hopeful import than it was thought could be in view of the depression, restric- ton, and unsatisfactoriness of business gener- ally. That the failures are of much less i'm portance than heretofore is shown by the de- crease in the average liabilities, which in the last quarter show $12, 1000 per failure, against $3S, 900 for the corresponding quar- ter of 1884, and SIS, ,000 in 1885,.
 It would be manifestly unsafe to regard the diminishing importance of the failures as a sign of @ return to more prosperous times, so much disappointment having been expe- rienced in the past. Predictions, apparently equally well founded, have been so utterly discredited by the events that he would be a brave man who would now undertake to an early return to better state of things For, notwithstanding that all the elements of great prosperity are in sight, and that conditions or less favor able exist in almost all departments for the profitable prosecution of business, yet the one thing wanting seems never to be at tained and the seasons go by, in which the almost universal report is dullness, want of profit and prospective depression. Yet it is impossible to conceive that this state of things should become chronic in a country ike this, while everything favors an i'm proved condition. Therefore it would not be surprising ii, with the 1essened indebted ness which 1t is our good fortune to report, there should follow conclusion that business has much more hopeful prospect just now than for some years past. We think this inference may also be safely de- duced from an attentive perusal of the re- ports which are appended to this circular, from our various branch offices throughout the country. These reports are gathered by our own representatives, after consultation with the leading men of each locality, and form, perhaps, more generally comprehen- sive picture of the existing condition of the country than could anywhere else be ob- tained. Certainly the effect of reading them carefully over is to encourage the belief that a much more hopeful future is in store for us than three months ago would have seemed possible
 The monetary condition existing at this time as compared with that of last year, shows contrast so marked as to have the utmost significance in relation to prospects for the future. Last year the trade of the was almost paralyzed by threat ened restriction in banking accommodation, the enforcement of which for a time had most serious consequences; yet it is a matter of that, considering the pressure for payment, the failures that occurred were not much larger in number and amount than were actually reported. To-day, however, precisely opposite condi- tion of things exists. Money is 20 abun- dant as to go begging, and though confidence is still wanting and it is difficult to induce permanent investments, yet the tendency in the direction of expansion must soon set in. The necessit es of the daily laborer for the provision of his family, are not more exigent than those of the capitalist for the profta- ble employment of his money. With this it is the belief of not few that very soon must come desire for investments that will yield some return, and thus stimulate every branch of business, and Oeget return to greater activity, increased speculation, and extension into new and profitable undertakings The rich men of jhe country have suffered in proportion to a ,ar greater extent than the poor men. The ow price of breadstuffs and the cheapness of as the result of excessive a declining traffic, have been lctual advantages to men of small means, in hat the cost of living and transportation has been reduced in greater proportion han the wages or incomes of the rank md file of the community. While he purchasing power of money has been ,reatly enlarged, the amount of money paid o men in employment has not diminished in nything like the same proportion. It is rue that in vast stretchesof territory farm l rs have not realized the profits hitherto at | ending their efforts and their debt-paying l lower, both for interest and current bills, | as been greatly diminished. But this class, l eing less dependent than any other upon | income from outside sources and having al l nost all their wants supplied within them elves, have been enabled to tide over the | ard times much more easily than traders or yage-earners
 While therefore, review of the trade of | he country does not bring out many satis- | actory clements, it nevertheless is a fact | hut consumers as a class are really in a bet ST condition than they were year ago, and hat, in view of the low stocks of merchant ise in all hands, the decrease in internal in- ebtedness, the lessened number of failures, he low prices for living and the steady ten enoy towards economy which the year as witnessed, there is much ground for he belief that the autumn business will be I the main satisfactory. With the proba ilities of fail yield of agricultural pro uots in tho West and Northwest, the good romise of the cotton crops in tho South Fth the increased immigration-of the best asa-whieh thus far tue year has shown, 'ith plethora of money at low rates, n set ed financial policy, and the absence of po tieRl excitement, there ought to be no req 'n why marked improvement in business lould not ensue.
 West Haven Turner's.
 The West Haven Turner's have elected as lhcers; President, Joseph Vett vice presi- ent, Emil Cores; recording secretary, l..