Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-10-02
nr-sISEss RECORD NOT QUITE so EN-
CoURAGING THIS WEEK.
YELLOW JACK HURTS TRADE,
IN SPITE OF THE CHECK BUSINESS
Is BETTER THAN IN 1892.
Prices for Many Commodities I'm
changed OF n Little Lower Than
Last Week-RecOrd of Fail
ures Makes n Crafty
ing Showing.
New York. Oct. 1.-Bradstreet's to-mor-

New York, Oct. 1.-Bradstreets to-mof-
row will say:
General trade is marked by increased
activity in wool, hides, iron and steel and
their manufactured products, but business
In the quarantined districts remains at a
standstill and at all except few .North-
western distributing centers, In spring
wheat states, where business is relatively
most active, there is a check TO the de-
mand for dry goods, hats and clothing.
Favorable reports come from a region ex-
tending from Knoxville to st. Paul ana
frcm omaha to Milwaukee. The tendency
is to increase estimates of the wheat crops
and increase the probable yield of cotton
The prices movement shows long LIST
of unchanged quotations this week, inctpd-,
ing various iron and steel staples, WOOL
hides, print cloths lumber, nails, copper,
pork, beef. coffee and sugar. increases
are confined to a nominal advance for an
thracite COAL % cents for Bessemer pig
iron, fractional sgains for leaf tobacco,
naval stores, butter. lardSand another adj
vance for WOODEN goods. Potatoes have
reacted from the extremely high. prices at
the West and cotton is of further. Lead
Is lower. as are corn, oats and flour, in
sympathy with wheat. which dropped 2
cents on Bradstreet's reported increase of
stocks
R. C. Dun & Co.'S Weekly Review Of
Trade will say in its issue tomorrow:
THE failures during the third quarter OF
1897 were 2903, with liabilities of S2S,96S, ,361,
of which % were In banking, for 81 ,069.
Commercial failures. 2.S4. with liabilities
of s25. .576. 1872, average only IS each, lower
than in any other quarter for twenty-three
years. The amount of defaulted liabilities
is the smallest in any quarter for five
years. and in fifteen years only six quar-
tiers have shown smaller liabilities. rs
Manufacturing failures. 65l, with liabili-
ties of g. A431 49, average but sl4,4S7 each;
and trading, 2,l64. with liabilities of s12.-
s25, ,06s average but s., 5,s27 each, both smaller
in average of liabilities than in amy pre-
vious year of which classified records ex-
list. The volume of legitimate business
continues a little larger than in 1892, for,
while the great increase of 2L4 per cent
in bank ciearings at New York for the
week might be supposed to be due to spec
- ulatire activity. in spite of the establish
ment and growth of the Stock exchange
clearing house, yet payments through, the
principal clearing houses outside of New
York exceeded those of 1892 by S.5 per cent
for the week, and 20 per cent for Septem-
ber. New York makes settlements for a
large part of the country, and daily av-
n1using shs eisE II sptsm
s1S3, 80 800 in 1884; $l22, 1888 900 in 1893 and
AT6,327 900 in 1892, so that the gain over the
same month in the best of past years is II
per cent.
These evidences of reviving prosperity
are the more important because prices for
most manufactured products have ad-
vanced but moderately, and are below the
level Of 1892. while speculative markets are
all declining with curious unanimity, as ii
the large crops which make grain and cot
ton weak would not assure increased busi-
ness to railways, and warrant better prices
Speculation in wheat and cotton has
been set Back by bright crop prospects
The wheat estimates of $50, 000, 900 bushels
about 100000 bushels more than would
be required for food and seed, leaving TIE
smallest stocks for six years without re.
plenishmenr. was followed by decrease in
foreign buying and caused weakness. Yet
s25,5d bushels, against 2s,094,044 for the
same weeks last year, and Atlantic ex-
ports. flour, included, are 16, S251 1lS bushels
against s.176,364 last year, while Pacific
shipments are also very heavy. and corr
exports continue over per cent more thar
last year. The price of wheat has declined
cents and corn nearly 2 cents for the
week.
Turning from speculative markets Il
productive industry, the change in tone 1.
striking. All industries are pushed to in
crease working force, with occasional rise
IN rate OF wages by the growing demand
This Is largely for replenishment of stocks
but dispatches show that retail trade a
nearly all Northern points continues Il
sxpand and dealers well know that increas,
OF working force and of wages insures ;
larger distribution of goods.
Numerous appeals for speedy deliverie
disclose more rapid distribution alread,
than had been expected and in textile man
ufactures the works are hindered from tax
Ing as liberal orders as they might b
doubts about future prices. though havin
enough to do for some time. The iro
manufacture has been pushed to furthe
expansion by growing demand for finishe
products, which has caused little furthe
advance in prices, while pig iron is ais
higher. The average advance in all iro
and steel prices. 80 per cent from the low
est. is still restricted by addition of man
furnaces and other works of those in opeI
Of