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 $4,000, OOO---Onla
u LIZ Per Cent. Less Than In
the Panic Quarter
Of 1893.

New York, Oct. 3.-R. G.. Dun a 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.
prising If political causes were not oh.
vious. In number 6hs per cent less than
in the panic quarter of 1898, failures for
the quarter show liabilities Ill per
cent less, amounting 10 s73,2 s5. 349,
against S97, 1863, 6S2 in the previous half
year. Manufacturing liabilities were
$32, 479, 1876, or 81 per cent greater thar in
the same quarter of 1898, while trading
were $2S. 73S, 217 and ''other commercial
were $l2, O67, 236. TO this must be added
81, 49, $50 liabilities in fifty bank fail
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 years
have d~efaulted liabilities been as large;
that the ratio to solvent business has
been sos per 81, 600, against 2.34 for the
same quarter last year; that the aver.
age per firm in business has been $685.
against 1868 last year; that the proper.
ton Of increase has been greatest in the
western states, both in amount and in
- - laAibiti o''' -
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,bS
clearing house payments, 22.1 per cent
less than last year for the week and SI.2
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 1.12 cents for the week and
10 cents zinc September 2, and is main
~ due to short crops abroad and foreign
demand. Atlantic exports for the quar-
ter, ending with September, -four in
cluded as wheat, were 90, 1875, PA bushels,
against 1920, 020 last year. The outgo
of wheat separated nearly doubled in
spite Of higher prices. No lack of visi-
bic domestic supply causes or supports
the advance, and western receipts for
the exact quarter were 81, 742.9 4l bushels,
against AZ, 100, 499 last ear.
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 it slight. But
the strong demand for materials, for
pig iron, hides and wool, rs for cotton,
does not diminish, and has already gone
far enough to stiften 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.
Sa1aQ In fiUa N-apkc ha va hpapn e 80 pO0
pounds, of which only 4,679, 800 were ~
eign, against Bats, 10 last Year. of
which 10, $685. 40 were foreign, and when
1t is remembered that in spite of the re
cent starting Of some mills not nia!e
than so per cent Uf tie total capacity
can be producing the preponderalIcs OF
purchases to anticipate future wants is
apparent. Orders for wool goo Is did not
gain and several kinds OF dress goods,
flannel suitings and fancy worsteds, are
selling a shade lower. BlyinS OF bessC-
mer pig again lifts PittsburS quotations
to $11.75 without any genera gain in
demand for finished products, and steel
bars for the first time are sold for ]
cent, against IL asked by the assoCia-
tion for iron bars. Plates and rails are
in less demand, but there is heavy buy
ing of sheets at the west.
Merchants and manufacturers are
waiting, but there are not wanting signs
that many have the confidence to i1N est
and push Onward as though The daY2
OF prosperity were close at hand The
quarter that has passed a been most
trying, but things would be worse than
they are but for the general belief that
better times are near,