Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1896-10-10
POLITICS ARE RESPONSIBLE
Failures for the Quarter Have
Neared the Panic Record.
Total Liabilities $T5,OOO,O OO---Onlg
o IL Per Cent. Less Than In
the Panic Quarter
of 1893.

New York, oct 3.-R. G.. Dun & Co.'S
Weekly Review of Trade today says:
The complete report of failures for the
quarter which ended with Wednesday
shows an increase which would be sur.
prislng If political causes were not oh.
vIous. In number 6h per cent less than
In the panic quarter Of 1893, failures for
the quarter show liabilities Ill per
cent less, amounting 70 $73, 2S5, 349,
against $97, 500, $50 in the previous half
year. Manufacturing liabilities were
So, 479, 1856, or 81 per cent greater than In
the same quarter of 1893. while trading
were $2S, 1882 and "other commercial
were $l2,067, 236. To this must be added
81, 1880 liabilities In fifty bank fail
ures, making, exclusive of railways,
nearly $780, 0O, 900 for a single quarter.
Comparisons are given showing that In
only six quarters In twenty-five e
have defaulted liabilities been as large;
that the ratio to solvent business has
been sos per 81 900. against 2.34 for the
same quarter last year that the aver.
age per firm in business has been $63. 81,
against 1862 last year; that the proper.
ton Of Increase has been greatest in the
western states, both In amount and in
average liabilities per failure, and much
larger in manufacturing than in trad
ing. Part, but clearly not all Of the
cause, has been removed by the influx
Of gold, and depression is still shown, iS
clearing house payments, 22.1 per cent
less than last year for the week and Si2
per cent less than in 1892, when another
presidential election was near.
The continued advance in wheat may
prove of the utmost Importance. 1t
has beeen liz cents for the week and
10 cents since September ?, and Is main
~ due to short crops abroad and foreign
demand. Atlantic exports for h quar-
ter, ending with September, Hour in
cluded as wheat, were %, 1924 bushels,
against IA. 800, 020 last year The outgo
of wheat separated nearly doubled in
spite Of higher prices. No lack of viSi-
BILE domestic supply causes OF supports
the advance, and western receipts for
the exact quarter were 81, 742, 94l bushels,
against 49,, 100, 400 last year.
Cotton has weakened after it's sudden
rise, because the demand for goods has
relapsed into hand to mouth buying
and print cloths are lower at 2.56 cents.
There are unmistakable encouraging
signs in the industries. although the
actual gain II working force employed
or in new orders received II 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
represents actual sales more nearly
than In past weeks, when buyers with
ash almost made their own prices.
GO loo IN, Hya Ntankg ha va h1ppn XXI ~ 700
pounds, of which only 1879, 800 we're ( r.
eign, against 34,7l9,17 last year. Of
which 1858, 40 were foreign, and when
It Is remembered hat in spite Of the re
cent starting Of some mills not m'.e
thar 80 per cent VI the total capacity
can be producing the pr~eponderancs Of
purchases to anticipate future wants is
apparent. orders for wool goo Is did not
gain and several kinds Ot dress goods,
flannel suitings and fancy worsteds, are
selling Il shade lower. BiyinG OF besst-
mer pig again lifts Pittsburs quotations
to $11.75 without any genera, gain in
demand for finished products. aild steel
bars for the first time are sold for l
cent, against IL asked by the assoC,a-
tion for Iron bars. Plates ana rails are
In less demand, but there Is heavy buy
ing of sheets at the west.
Merchants and manufas cures are
waiting, but there are not wanting siEns
thai many nave the confidence To i1Ncst
and push forward as though the DAVIS
OF prosperity were close at hand. The
quarter hat has passed has been most
trying, but things would be worse than
they are but for the general belief n a
better times are near.