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 $y5,OOO,O OO---Onl9
q l-2 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
show an increase which would be sur
prising If political causes were not OBJ
vious. In number 61A per cent less than
in the panic quarter Of 1898. failures for
the quarter show liabilities Ill per
cen less, amounting 10 $73, 2S5.349,
against $97, S69, $50 in the previous half
year. Manufacturing liabilities were
1872, 479, 1876, or 81 per cent greater than In
the same quarter Of 1898, while trading
were $2S. 1885, PIT and "other commercial
were $12, 067, 236. To this must be added
81, 7l2, $50 liabilities i'm fifty bank fall
ures, making, exclusive OF railways,
nearly $50. 600, 600 for a single quarter.
Comparisons are given showing that in
only six quarters In twenty-five a
have defaulted liabilities been as large;
that the ratio to solvent business has
been sos per 81 900, against Pa for the
same quarter last year: that the aver.
age per firm in business has been $63.57,
against $26.92 last year: that the proper.
ton of increase has been greatest in the
western states, both in amount II in
average liabilities per failure, n 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 by
cicarrng rouse payments, lz.i per cett-
less than last year for the week and 3l.2
per cent less han in 1892, when another
presidential election was near.
The continued advance in wheat may
prove of the utmost Importance. 1t
has beeen 1.12 cents for the week and
10 cents since September 3, and is main
~ due to short crops abroad and foreign
demand. Atlantic exports for the quar-
ter, ending with September, flour in
cluded az wheat, were %, 1862 pa 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 or supports
the advance, and western receipts for
the exact quarter were 81, ZAP, 9I1 bushels,
against 43, 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 if working force employed
or in new orders received 1t slight. Blu
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
lash almost made their own prices.
Sales in five weeks have beeen -. l592 200
pounds, Of which only 4.679, 600 were fDr-
eign, against 34,719, 10 last year. of
which Is, 553, 470 were foreign, and when
1t is remembered that in spite of the re.
cent starting Of some Mills not n,r.e
than 50 per cent Uf tie total capacity
can be producing the prepunderalI,s of
purchases to anticipate future wants is
apparent. orders for o goo IL did not
gain and several kinds ot dress goods,
hannel suitings and fancy worsteds, are
selling a shade lower. BiyinS of besst-
mer pig again lifts Pittsburg quotations
to $1l.75 without any genera, gain in
demand for finished products. and steel
bars for the first time are sold for l
cent, against IL asked by the assoCia-
ton for iron bars. Plates ana rails are
in less demand, but there Is heavy buy
ing Of sheets at the wesl.
Merchants and manufa ,ture:s are
waiting. but there are not wanting signs
ana push forward as though tne daww
of prosperity were close at hand. The
quarter tina has passed has been most
trying, but things would be worse than
they are but for the general belief that
better times are near.