Iron County register., 1897-09-09
DUN'S TRADE REVIEW.
A wonderful Showing Of Business
for August
An Previous Records Broken -L0weR
Failures and Smaller In VOlame. with
More Business tn Almost All Depart
ments of Trade and Manufactures


New YoRK, Sept. 4-R. G. Dun a.
Co. s WI ekty review of trade says:
Failures in August were in number
not only u per cent. less than in August
1896. but in amount of liabilities T0.S-
per cent smaller. July and August
show a smaller average of liabilities
Der failure than has ever been known
in any year or even in quarter OF the
2S wears r. G. DUN s. Co. have kept
quarterly records. The improvement
is also well distributed, extending to
nearly every important branch of busi-
ness. but in clothing. jewelry and un-
classified trading only two months OF
the past Al have shown smaller fall
ures; in general stores and furniture
only three; in groceries, hats and iron
manufactures, only four; in chemical
manufactures, only five; and in cloth
ing manufacture, only six months OF
the AZ.
The ratio of defaulted liabilities to,
payments at clearinghouse has been
smaller in July and August than in
any other month since early in 1898.
August was the first month in which
the daily average of settlements
through clearinghouse exceeded ma
teriaIly that of the corresponding
month of 1922, the excess at the prin-
cipal cities being 1913 per cent. Nor is
this due, as might be supposed, to-
activity in stock speculation, for the
stock exchange clearinghouse now dis
poses of a very large share of transac-
tions, SO that they affect bank ex-
changes far less than Eve years ago.
The volume of business has been
distinctly larger in speculative lines.
than it was then, and in textile goods
phenomenally larger, though slacken--
ing this week, buyers having nearly
completed their initial purchases.
With an extraordinary movement in
grain, heavy real estate and building
transactions and increased business in
iron products. the month was clearly
the busiest August ever known.
Wheat continued its reaction until it.
had fallen four cents more, but then
rose three cents with the first revival
of foreign buying.
Western receipts are very large,
though not quite as large as a year
ago, but Atlantic exports, -four in
cluded, rose to 5, 5S4, 75S bushels for the
week, against 2, It's, 453 last year. The
estimates which command confidence
still indicate a yield of $50, OOO, 600 to,
$50, 600. 900 bushels, winter wheat turn
ing out so much beyond expectations,
as to balance much of the loss in spring
wheat
Foreign accounts do not improve,
and unless much more deceptive than
usual. the demand for American wheat
will far exceed the quantity which cam
be spared.
Continued large exports of corn, and
buying for export. show still more
clearly the extent of deficiencies
abroad. Western receipts for the week
were 10, 065. 46o bushels, against 8, I60,-
S1S last year, and such a movement at
this season implies great export de-
mand not yet reflected in outgo.
Cotton speculation made August de-
liveries costly, spot rising to 81 cents.
but the market then drifted back
quickly to 7.62. Conflicting news,
doubtless reflects conflicting facts, but
the opinion gains that the crop will be-
large, if by lateness not exposed to se-
rious injury. The mills are now rum
ming and turning out great quantities.
ofgoods in response to heavy purchases,
recently made. Wool sells largely be-
for the week. Mills have been buying
more freely to replace the wool rapidly
consumed. and the goods market has
been SO large and strong that they are
encouraged to purchase even after a
rise of so per cent. in year.
The improvement in the iron and
steel industry gains momentum and q.
further advance in prices makes as per
F.
H.
The demand increases for sheets and
plates, especially for bridge and ship
building, including 100, 600 tons a.
Philadelphia in structural work, of
which 1T is said that 10000 tons,
have been placed at Chicago,
in bars, and especially in
wire and wire nails and all have ad-
vanced an average of 81 per ton.
Southern and western deale RS have
united to advance prices of pig 25
cents. Bessemer, Mt Pittsburgh has
risen ten cents, and eastern markets
are stronger. The demand for cars in,
pressing, and work for railways in.
creases. The first shipment of steel
rails from this country to Australia
was of ., 900 tons by the Lackawanna
company.
Tin is still sligh tly lower at 1866
cents. but heavy exports said TO cover
$1,000, 900 pounds for the next three
months, sustain copper at 1IH, and
lead is strong at 4.10
Boot and shoe shipments, not quite.
five per cent. smaller than last year in
August nor four per cent. smaller than
in 1895, were ~ per cent smaller than
in 1894, but were little larger than in
1892. Buying is still mostly for imme--
date needs, but sufficient to keen.
works well employed.
Failures for the past week have been
19l in the United States. against 33A
last year.