The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-29
A FALLING OFF IN FAILURES.
THE DEBTS sss,0OO.OOO AGAINST
SIOi, i,T5s.I52 Last Year.

The Total Failures Foot Up 6,0OO
Against 7.O30 Last Year-The Total
Liabilities of Manufacturing Com
Germs SwcIIed by the Collapse OF
rhe COrdnEe COncern-Danger OF
Exports of Gold Ccented.
New York. June 2S-R. C. Dun & Co.'S
trade review says: "The half yearly re-
port Of failures for next week viii in-
clude about 600. against 1889 for the first
half Of last year. and liabilities Of about
tSs.OOOOOO. against SlOl SIS, l52 last year. But
for the Cordage concern. the aggregate
would be nearly q per cent. less than
last year. and the manufacturing liabilities
% per cent. less. but including II. the
manufacturing liabilities will be about
SlO.OOo0O. against $li.s .lO2 last year. and
the trading $S5.OOOOOo. against SS2.si5.s7s
last year. while miscellaneous liabilities
were only $4,000, against s7.s5s.O72 last
year.
THE failures for the past week have
been 256 in the United States. against ZIG
last year. and p in Canada. against IS
last year.
Business is better. although the crop
outlook. affecting prospects beyond tho
near future, is a little less distinct
Cotton has fallen three-sixteenths 10
cents. In spite Of reports Of serious in-
jury by rains In Texas and Louisiana.
"A little buying by northern spinners
surprises the market. for their takings
have been more than enough for ths
years consumption. and British returns
show a great decrease in the exports of
cotton goods.
'The labor troubles are passing. with
frequent advances in the rate OF wages
paid.
1.-THE closing OF It's deal by the syndicate
raises the treasury reserve above si0O. .0o0.-
900, but the certainty that no more gold Is
to be imported by the bankers makes for
eign exchange stronger. and II large part
OF the bonds taken abroad have been re-
sold TO this country. deliverable as soon
as possible, some believe. the heavy mer-
chandlse imports for June at New York, 48
per cent. larger than last year, against
exports about per cent. smaller, will rem
der exports OF gold altogether probable.
Money still comes hither from the west
in amounts averaging about s250000 daily.
and commercial loans are enlarging, par
ticularly on iron and other manufacturing
paper. The volume Of business represented
by exchanges through the principal clear
ing houses Is for the past week 35.s per cent.
larger than last year. really surprising
gain and only 7-10 OF / per cent less than
In 1892 while the average for the month
Is 2S8 per cent. larger than last year, and
IL per cent. less than In 1892. The return
IL 10Th ugtY In, "a or ha
parative magnitude OF speculative opera
tions."
Bradstreet's tomorrow. June 20, will
say: "The dominating business conditions
Of the week are the continued large de-
mand for and future increases in
have surprised even the trade. The
jump in rail prices, and the scarcity OF
any higher quotations for plates and nails.
have tended to produce temporary scare
ity.
with the further advances in the
prices OF iron and steel should be coupled
the gain Of cent per pound for wool,
which apparently began its journey to a
higher level about fortnight ago.
Better quotations have also been made
for cheaper grade wooden goods, 2ls
cents per yard for prints; Bessimer pig.
billets. wheat, pork. lard, hogs. sheep and
copper. While declines In prices are re-
corded for -four, corn, oats, coffee, cotton,
naval stores and cattle. Sugar, coal and
lumber are practically unchanged
THE total bank clearings are 81, OIL ,000.-
600, and while smaller for all cities than q
week ago by 6.5 per cent, are ~ per cent.
larger than In the last week of June, 1894,
per cent. larger than In that week In 1898,
a month after the panic had gotten fully
under way, but per cent. smaller than In
the corresponding week In 1892.
THE business failures in the United
States for six months as reported to Brad
streets show marked falling off I'm the
second quarter Of the past six months. as
was to be expected, but not so great a de-
cline relatively as in the second quarter
of 1884, which results in total for six
months of 6,5H or l per cent. more than
last year, per cent. more than in 1898.
and per cent. more than in the first
half of 1891, after the Barring crash. But
the total liabilities have shrunk more than
$3O,OO0.OOO from last year and more than
one-half within two years, pointing to the
excess in the number of failures being due
rather to the continued effects Of the re-
cent business disturbance on smaller en-
terprises than to new and unfavorable con-
ditions.
AT New York there is pearly the usual
volume Of midsummer trade In staple
goods.
eat Philadelphia the Improvement in
demand for staples. and for iron and
steel, as well as at Pittsburg. is again
conspicuous.
There is relatively less gain at Buffalo.
but at Baltimore the outlook for fall
business is regarded as excellent.
There is a general revival at the
south, but merchants in almost all the
leading cities in that region report that
the demand continues very moderate, and
collections are slow. The cotton and fruit
crops in the South Atlantic states prom
Use well, and the business outlook Is
reported as encouraging.
"Incessant rains in Texas have hurt
the crops. Increased shipments by Gal
weston jobbers are reported due rather
more to a railway freight war than to
increased demand"
. rso-..o a. "a. ET~E,--a