The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1896-10-03
TRADE CONDITIONS IMPROVE
MERCHANTS IN THE INFERIOR ARE
BUYING MORE FREELY.

IheIoahliio SolIectioHS SLoW- iAS0s AA
Some Staples Tend Upwarcl-Decrease in
Bank Clearings-Largest Number of
Failures Ever Recorded.
New York, Oct. 1.--Bradstreets to-
morrow will say:
Cooler weather and continued pur-
chases by interior merchants, notably
west and south, continue the slight i'm
provement in trade recorded in preced-
ing weeks. Merchants at primary cot
ton markets and at larger centers in
the spring wheat region report bet
ter movement of staples, due to unusu-
ally heavy receipts of those crops.
| Throughout the central west, including
such points as Baltimore, Cincinnati,
| Chicago and ST. Louis, the volume of
trade falls behind that of year ago
| in some instances, but Is equal to it in
| others. AT eastern centers the i'm
provement is seen in greater ease in the
| money markets and more disposition
| to discount commercial paper, although
at unchanged rates. Wholesale mer-
chants report a better feeling very gen.
| orally, but few anticipate any mate
rial increase in the volume of business
/ this month
Mercantile collections continue slow,
and as difficult to make as heretofore,
except in the cotton states and at some
points in the northwest, where heavy
crop receipts have enabled interior
merchants to liquidate long standing
accounts. The more conspicuous de-
mand at larger interior cities is for dry
goods. clothing, shoes, hardware, leath-
er and lumber. There is also better
demand for pig iron and for steel. Bus
mess in cotton goods has been checked
! by the advance in prices, and mill
| stocks tend to accumulate again.
For the third week in succession
prices for some of the more important
staples continue upward, notably for
| cereals, wheat alone having advanced
| more than 10 cents per bushel within
month. The worlds statistical position
| of wheat indicates a return of some OF
the conditions of 1S79-S0, which result
| ed in heavy wheat exports from the
| United States at rapidly advancing
| prices. Quotations for leather, lumber,
wool and for naval stores are also high
er.
The decline In cotton appears due to
| extraordinarily heavy receipts at prl-
mary markets, in addition to which
| there are more important decreases for
sugar and petroleum.
Exports of wheat flour included as
wheat) from both coasts of the United
/ States and from Montreal this week
amounted to 4,215,794 bushels, the larg-
est weeks exports of wheat since the
i second week of September, 1893. 1t is
compared with 2,613,000 bushels In the
corresponding week a year ago.
Ttoal bank clearings for September
amount to SO 1854 100000, a decrease OF
more than IL per cent. compared with
September year ago. For nine
months of the current calendar year the
Iclearings aggregate $37, 600, de-
crease as compared with the CORE
lsponding portion of 1895 of So per sent
The latter decrease is explained by the
moderate revival in trade and in indus
trial lines, which characterized the
Iperiod from March to September, inclu-
sive, in 1895.
The total number of business failures
throughout the United States from
January 1 to September 30, 1896, is H.
$50, the largest aggregate reported for
| a ike Derl0Q since TeCOIuS u lliio Ciehi :
acter have been compiled. The next
largest corresponding total was lilac
for nine months of the panic year 1893.
The liabilities in the failures for the
past nine months of this year aggre-
gate $171, $50, 900, the assets $996l4,O0o.
| The total liabilities in the first nine
months of 1896 are more than one-half
the corresponding total three years
ago. Failures in the third quarter of
the current year We're extraordinarily
heavy. The nine months record of
failures, which exceeds that in the cor
responding portion of the panic year
1898, appears due, in part to the eff
fects of the widespread, active agita-
ton for change in the standard of
value. The failures in New England
during nine months numbered 1886
with liabilities $16,57S,S6S, assets $7,275,-
1911, against 1893 failures with liabili-
ties SIS, 382, 1893, assets $7,170,1SS in the
corresponding period last year.
When the records are examined by
groups of states it is found that the
New England states report total more
nearly normal than any other group.