Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1896-10-22


Failures increase Over Last Year.
New York, Oct. IL. -BradstreetS'
weekly review of the trade says that
While the volume of general trade has
not increased materially, the new con-
tons are favorable to early improve
mentS, Notwithstanding that many in
terror merchants prefer to wait Till
election before placing orders, and
others will only give orders subject TO
cancellation should the movement of
the free coinage Of silver be success
full. The features of the business
week are continued advance IN the
price and strength of wheat and the
maintenance of the large volume of
wheat exports, notably to India,
and Australia. While wool was no
higher, holders sold enough to render
them Indifferent to the immediate
business and are holding stocks for full
figures. New orders for iron and steel
products have not been placed freely,
Notwithstanding the growing exports.
1t is anticipated that within three
meet expectations. On the Pacific
coast trade has been stimulated by an
advance in the price of wheat and
continued activity in exports of lum-
Der and other staples notably to
Japan, Australia, South Africa, and
India. Exports of wheat (iour in
cluded as wheaD from the United
States and Montreal during the week
amount to 4,157,0O0 bushels, agains
4,050,000 last week and 2,409,000
year ago. The total business failure
the past week throughout the Unite
States were 279. The total bank
clearings in the principal cities in the
United States, for the week wer
1898, 1926 1924; a decrease of 14.7 per
cent. as compared with the CORES
ponding week last year.
R. G. Dun & Company's report says
that the one commercial change
which, more than any other, insures
better business in the near future, is
the excess of merchandise exports over
imports in September. This excess
of exports was $34 273 900 in payment
Of which there were net imports of
gold of S34, 249, 900. Last years excess
OF merchandise imports amounted to
$6,765, 900 in September, and the net
exports of gold $16,506,000. In the
four principal classes of export
there was an increase Of
$zO,641 900, more than half be-
ing in cotton. Continued Shipments
OF gold from Europe not including
four millions from Australia, now
amount to $59,250,00) since the move
ment began, of which 52,250,000 has
already arrived. The heavy move
ment of grain is The corner stone.
There has been shipped the past
week from Atlantic ports alone 2,135,-
900 bushels Clour included and 4,208,-
845 the first two weeks in October,
against 3,510,271 last year. A more
important fact is that all available
grain freights have been engaged
months ahead here and on the Pacific
coast. The minister Of agriculture in
India stated Thursday that distress is
expected in a large Part of India as a
result of drought, but importations of
wheat from California would help pre-
vent an actual famine. A high Of
fetal of Russia now in this country
confirms the accounts of a shortness in
the Russian yield. They estimated
1OO,000,000 bushels short of last year
in the supply of wheat and there is
every reason to expect a remarkable
foreign demand Western receipts
fall little below last years. The
price advanced AZ cents for the week
and corn 2 cents. Boot and shoe
makers get very marrow orders at old
prices, or at an advance Of less than
per cent. for the week and less than
per cent. from the lowest point.
Similar difficulties threaten iron man
ufacture, for pig is higher, bessemer
being $11.50 and gray forge 1856 at
Pittsburg; while plate, angles and
beams are weaker, and the various
combinations hold their prices only
by leaving outside competitors to take
the market as far as they can Wool
has been stronger with continued
speculative buying, and sales in east
ern markets have been for two weeks
seven million pounds less than. last
year. No gain at present is possible
in goods, and though the number of
mills starting for the week was Is
against 7 stopping, much work done is
in anticipation of q better demand
than now exists. The manufacture of
minor metals also drags, though the
demand of copper has been
moderate. Failures for the week
numbered 328 against 263 last year.