The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-10-05
HIGH PRICE OF COTTON
1T HAS CAUSED THE TRADE
CONDITIONS IN THE SOUTH
TO IMPROVE.
MERCANTILE COLLECTIONS GOOD

Within the Last Five Years Food
Products Have Fallen 49, Per Cent,
WOoIen Goods 22 5 Per Cent, Cotton
Goods I3. 5 and Iron Products 1914.
NEW YORK, Oct. 4.-R. G. Dun &
Co.'S. weekly review of trade, which
issues tomorrow will say:
Commercial failures in the third
quarter of 1895, were 2, ,792, with liabili-
ties of $32, 1917, 179, averaging $11, ,521
per firm, against $40, ,028 last year, about
Is per cent more. The rate of CONNER
cial mortality, 81 failures in a quarter
for every 900 firms in business, is lower
than last year, and the proportion of
defaulted liabilities to the solvent bust
ness represented by payments
through clearing houses is tht
2 49 per 1000 against 2 n lA5t
year. The defaulted liabilities
per firm in business average $26 90
against 81 80 last year The defaulted
liabilities of the manufacturing class
average $20,86 against $19, 783 in the
same quarter last year; IN trading $S,-
577 against So 443 last year and the
bank failures, not included above, have
been 81, with average liabilities of $114,-
900 against $110, 036 last year In the
third quarter, when failures are usually
low, the average of liabilities in pros
porous years falls below $4,000, the
number below in 1000 firms. the
defaulted liabilities below SO per 81, 900
exchanges, and below $25 per firm in
business. Thus the analysis indicates a
condition approaching, but not yet
reaching, one of general prosperity.
Highly important comparisons of prices
this week show about the lowest range
ever known for wholesale prices of all
commodities Notwithstanding advances
since March of 30 per cent. in cotton
goods, 40 per cent. in boots and shoes,
and So per cent. in iron and steel pro-
ducts, while in wooden goods there has
been scarcely any advance, and in all
food products taken together a fall of
II per cent. Comparisons show a fall in
food products of 232 per cent. in the
five years since October, 1890, in wooden
goods 90 5 per cent; in iron products
16 per cent, and in cotton goods 1915
per cent, while boots and shoes are a
little higher, and in leather and hides
much higher than five years ago.
The cotton market has mounted above
nine cents, and holds in spite of real
izing, but, as the crop is late and quite
largely held back, does not yet feel the
influence of the receipts natural at this
date. Reports of injury and low esti-
mates of yield have impressed all minds,
while few remember the stocks brought
over. Receipts are growing, but for the
month have been 275, 900 bales less than
last year.
Wheat is shade weaker, while west
ern receipts have been &, $50, 492 bushels
against 4, 487, 104 last year, while Allan
tic exports have been only 1898. .179
bushels against 2, 791, 499 last year. Corn
is but little lower, though beginning to
move quite largely.
Failures in three days have been 207
in the United States against 219 last
year, and Al in Canada against 40 last
year.
Bradstreet's Weekly Review.
NEW YORK, Oct. 4.-Bradstreet's to-
morrow will say:
"SeasOnable weather has stimulated
sales Of merchandise and increased the
prospects of a favorable fall trade gen.
orally Among the less favorable feat
ures are moderate demand in staple
lines on the Pacific coast, reaction in
the volume Of business at Baltimore and
the check to the advance in prices of
iron and steel, with a reaction of about
81 90 per ton, at the Ohio Valley and
Pennsylvania centres.
Mercantile collections are very gerer-
ally improved, more par icularly South,
Georgia and Texas merchants and farm
ers being conspicuous for liquidating in
debtedness and anticipating payment of
commercial paper.
The general dry goods trade has i'm
proved with more seasOnable weather.
Trade conditions South are improving
with the free movement of cotton and the
high price of that staple With some
exceptions leading Southern points re-
port improving trade and advancing
prices for dry goods, hardware, leather
and shoes.
Exports Of wheat (hour included as
wheat) from both coasts Of the United
States and Canada amount to 2,613, 900
bushels. Last week the total was 3, 151,-
600 bushels, one year ago 3,243 900
bushels, two years ago 3, 189, 900 bushels,
and three years ago A OH 900 bushels,
Bank CIearings for the Week.
New YORK, Oct 4.-The bank clear
ings for eighty four cities of the United
States compiled by Bradstreet's, with
the percentage of increase or decrease as
with last year are as fol-
lows: For the United States, $l,136,-
089, III. Increase 1876.
Weekly Cotton Statement.
New ORLEANS, La, Oct. 4.-Secrctary
He-ter's weekly cotton statement shows
The amount brought into sight during
the week to be 300, ,865 bales against 319,-
O36 for the same period last year, $685.
l12 year before last and 222, ,t70 in
1892. The total movement since Sep
Lember 1-733, 800, against 897, 0O5 last
year, 66S, 1874 year before last and
683, 625 in 1892.