The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-10-10
DUN'S COMMERCIAL REVIEW.

Complete Report OF Failures for the Quar-
ter Exhibiting a Surprising Increase.
Partly Accounted for by Political Causes
Continued Advance In Wheat-Reviving
Confidence et in tho Stock Market
Better Times Near.
New YORK, Oct. 2.-R. G. Dun & Co.
say to-day in their weekly review OF
trade:
The complete report of failures for
the quarter which ended Wednesday
shows an increase which would be sur
prising if political causes were not
obvious. In number 81 per cent less
than in the panic quarter of 1893, fall
ures for the quarter show liabilities
Ill per cent. less, amounting to S73,-
2s5, 349, against S97, 500, esq in the pre-
vious half year.
The continued advance in wheat
may prove of the utmost Importance.
1t has been LIZ cents for the week and
ten cents since September 2, and is
mainly due to short crops abroad and
unusual foreign demand Cotton has
weakened after its sudden rise, be-
cause the demand for goods has re-
lapsed into ~hand-to-mouth buying.
and print cloths are lower at 2.56
cents. Some injury has been done by
recent storms, but the market seems
not now in the humor to magnify
them.
Reviving confidence is felt in the
stock market, which has slowly risen
an average of 80. cents per share
for railways, though trusts are weaker.
While east-bound tonnage is large,
from Chicago, in September, 249, l0s,
against 241, 1874 last year, the westward
movement of merchandise is small
and rates are cut, SO hat earnings re-
ported for September fall 80 per cent.
below last years, and Sc per cent. be-
how those of 1897.
There are unmistakable encourag-
ing signs in the great industries,
although the actual gain in working
force employed or in new orders re-
ceived is slight. But the strong de-
mand for materials. for pig iron, hides
and wool, does not diminish, and has
already gone far to stiffen prices.
In wool quotations are scarcely
stronger, but represent actual sales
more nearly than in past weeks, when
buyers with lash almost made their
w prices.
Buying of Bessemer pig again lifts
Pittsburgh quotations to Sll.75 with
out any general gain in the demand
for finished products, and steel bars
for the first time are sold at Que cent,
against 1.2 asked by the associa-
ton for iron bars. Plates ana rails
are in less demand, but there is heavy
buying of sheets at the west. Conf
dence that reviving business must
bring a greater demand than all the
works can meet induces the various
associations to make no change in
their prices. The minor metals are
not strong, lake copper at 1917, tin at
SI2. 90, and lead about 90.
The movement westward of money
continues, and for the quarter has eX-
ceeded interior receipts by S31 ,OOn, 900.
The gold ordered for importation
amounts to S43, 25O,O OO, and arrivals
thus far to $40, 5i4, $50, besides s., 00O,-
600 expected from Australia, which
will raise the treasury reserve to about
Sl30, OOO, 900. Relief has been welcome
in commercial markets, where seven
per cent. is done more freely on west
paper than eight per cent. recently,
but October settlements cause momen-
tary hardening.
Merchants and manufacturers are
waiting, but there are not wanting
signs that many have the confidence
to invest and push forward as though
the dawn of prosperity were close at
hand.