The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-03
Dim & Co.'S weekly Review.

NEW YORK, Oct. 2-R. CT. Dun Il Co.'S
weekly review of trade tomorrow will say:
The complete report of failures for the
quarter which ended with Wednesday shows
an increase which would be surprising if
the political causes were not obvious. In
number 6a per cent. less than in the panic
quarter of 1898, failures for the quarter
show liabilities Ill per cent. less, amount
ing to $73, 285, $40, against $97, 500, 6S2 in the
previous half year. Manufacturing liabili-
ties were 1872, 479, 1856, or 81 per cent. greater
than in the same quarter of 1893, while trad
ing were $2S, 1873, PIT, and ''other CONNER
cial' were 12,067,2 36. To this must be
added 81 IL, $50, liabilities in fifty bank
failures. making, exclusive of ALWAYS
nearly $50, 900, GOO for a single quarter. Com
PARSONS are given, showing that in only
six quarters in twenty-five years have de-
faulted liabilities been as large, that the
ratio to solvent business has been $500 per
81, 900, against 1924 for the same quarter
last year; that the average per firm in bus
mess has been $63.57. against 1852 last
year, that the proportion of increase has
been greater in the Western States, both
in amount and in a average liabilities per
failure. and much larger in manufacturing
than in trading. Part, but clearly not all,
Of the causes, has been removed by the
influx of gold and depression is still shown
by clearing house payments 2.1 per cent.
less than last year for the week and 31.2
per cent. less than in 1892. when another
presidential election was near.
The continued advance in wheat may
PiON0 VI TIC ulLAOS iApO ANY Il hdS
been LIP cents for the week and 10 cents
since Sept 2 and is mainly due to short
crops abroad and unusual foreign demand.
Atlantic exports for the quarter ending
with September, flour included, were 23,-
1856 14 bushels, against IA, 320,020 last year,
the outgo of wheat separately having near
-ly doubled in spite of higher prices. No
lack of visible domestic supply causes or
supports the advance and Western re-
ceipts for the exact quarter were 81, 742, 91
bushels. against 43, 790. 499 last year.
Cotton has weakened after its sudden
wise hnanY IcO Tho So -
relapsed 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.
There are Enthusiastically encouraging
signs in the great industries. although the
actual gain in working force employed or
in new orders received is slight. But the
strong demand for Materials, for pig iron,
hides and wool, as for cotton, does not
diminish. and has already gone far enough
TO stiffen prices. In wool quotations are
scarcely stronger. but represent actual
sales more nearly than in past weeks. when
buyers with cash almost made their own
prices. Sales in five weeks have been go
1920 pounds. of which only 4.679, 500 pounds
were foreign, against 81. 10. 10 last year. of
which 1~5.55S.470 were foreign, and 37.2SS, 400
in 1892, of which II, $50. 500 We're foreign and
when it is remembered that in spite of
the recent starting of some mills not more
than 30 per cent. of the total capacity can
be PRODUCED the preponderance of pur-
chaseS to anticipate future wants is APP
parent. Orders for woolens do not gain,
and several kinds of dress goods, flannel
suitings and fancy worsteds are selling a
shade lower.
Buying of Bessemer pig again lifts Pitts
burg quotations TO Sl1.75. without any gen
eral gain in the demand for finished prod
ucts. and steel bars, for the first time. are
sold at l cent. against 12 cent asked by the
association for iron bars. Plates and rails
are in less demand. but there is heavy buy
ing of sheets at the West. Confidence that
reVivfng business must bring a greater de-
mand than all the works can meet induces
the various associations to make a change
in their prices. The minor metals are not
strong. lake copper at 10l5 cents. tin at l2.9o
cents and lead about IS cents. 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. The quarter that has passed has
been most trying. but things would be
worse than they are but for the general
belief that better times are near.