The Portland daily press., 1896-07-04

Bank C1earings of Past Six Months were
.UncommOnly Large, Due In Part to the
speculations Wall Strcet-Midsum-
mer Dizziness Characterizes Trade.
New York, July 3-Bradstreets to-
III orrow will says General trade in both
commercial aud industrial lines is duller,
but the falling off is in part the usual
midsummer dullness. Comparatively
few changes are noted. Most Of them aEe
decreases in either price or demand.
The total of wheat stocks available in
the United States and Canada afiost for
and in Europe and Australia July aggre-
gate $115, 4S1 900, the smallest similar
total on q like date for four years, and
the smallest total reported az quarterly
intervals since July l, 1894. The exports
of wheat from both coasts of the United
States and Montreal, -four included as
wheat, Zone days shipments missing
from four Atlantic ports aggregate 2,60l,-
600 bushels against 2, 007, 600 in the first
week of July, 1895. The June bank
clearings foot up better than was ex-
peoted, with q total at 65 cities of 81, 1885,
617,10 which is larger than any since
January, and only Z. 4 per cent smaller
than June year ago. They exceed those
of May this year by 1.5 per cent. This Is
the first time since 1887, when the June
clearings have exceeded thoss of May.
Compared with June, 1924, the gain is
more than 10 per cent; with June, 1895,
decrease is only per cent The decrease
in Nav "a 12 rQp nanf HnT
six months the total ClearinRs aggregate
S25. 563, 366, 722, gain over 1895 of IL per
cent; over 1894 of Is per cent, ana q de-
GREASE from 1888 of IL per cent. The in
crease in bank clearings this week is
based in part on the increased speculative
activity at New York, but to a greater
extent on the monthly and semi-annual
settlement, in financial and commercial
circles throughout the country. The
total is 81, 103, 000 or % per cent more
than last week, nearly Is per cent more
than. the like week last year, end 30 per
cent larger than the first week of July,
1894
The failures in the United States for
the past six months mum ber 7602 the
largest SIX months total since the records
were compiled. The increase compared
with 1885 and 1894 is more than one
Thousand in each instance, Is and 16 per
cent respectively. Compared with 1898
(including the two months of the panic)
the increase this year is about 1,340 or
20 per cent. Contrasted with the six
months of 1892, the period OF prosperous
trade there were 40 per cent more failures
in the past six months.
| The total liabilities of 1902 failing in
| diyiduals. firms and corporations arc
| $105, 535. 900. This has been exceeded only
twice before in like periods, in the panic
years of 1884 and 1898. The increase of
total liabilities, contrasted with 1898, is
8 per cent. Ii appears probable that the
undertaking conditions prevalent in 1898
and 1894 have not all been eliminated, as
the ratio OF the total assets to the liabili-
tiles has been exceptionally heavy this
year; more than 81 per cent, which is
characteristic of periods of abnormal
business embarrassments.
The number Of failures in the Eastern
state the past six months is 96S8; liabili-
ties, 81, 2B3, 1853; sssetg 81, S46, 041; agains {
955 failures. liabilities, S12, 500, 8S7; assets,
| So, 092, S98, in the first half Of 1895.