The times., 1897-08-07

l
Win Failures In that month amounting 10
over $60,000,00o, while in the month lust
closed failures have been only $7,1l7.727,
tnc Smallest in any month since 1892.
Extended review of the events during the
pas1 iour years, given this week, consti-
tutes more complete chapter OF finan-
eiai history than has ever been published
| for a similar period. The statement OF
lures py classes for July and for forty
SIX inontps, shows that in nanuf acuuring
| Iaturcs nave been smaller than in any
other month OF the entire period, III trad
| ing Smaller than in any month except
| one, and III many branches OF each de-
partment smaller than in most months OF
] Which records exist.
Dun's Review is gratificd to find sub
| stantiai basis for the Improvement which
nas been recorded since early this year
Last month vas the first for four wears
In which the volume Of business reported
by clearing houses was larger than in
the same month of 1892 This Is partly
que TO large yield OF wheat and good
prices, though the crop is probably not
as large nor are prices thus far as high
as IN 1892. Liquidation of a powerful
combination in wheat brought reaction
or cents Thursday, but q gain of 1 I-2
cents occurred the day following. After
Tour years OF extraordinary depression
stocks advanced with a great iiandlcap
and general average OF railroad Sc
curlfies is higher than at any time in
Tour years except for O week or two in
the fall OF 1885 Yet the average is nearly
90 per cent lower than in January. 1893.
and the roads are, as a rule, in condition
TO do more business and more cheapIy
than ever
There Las been a material increase in
the l. uinber Of hands employedin in the manu-
facturc of iron because Of the satisfactory
Adjustment or wage disputes with the
Analgamatcd Association, and the open-
Ing OF numerous establishments which have
peeIi waiting, while the coal miners strikes
seem each day more likely TO end In
pernanent settlement beneficial to 10th
parties. While consumption does not vet
equal the capacity OF the works in opera
tiol, aud prices of iron and steel prod ucts
average slightly lower, the situation is
oltogether more hopeful.
lie volume OF business measured by
actual payments through clearing houses
Is 2S.4 per cent larger than last year,
aDt ~ per cent larger than the same
Week CT lS92. There is q satisfactory
increase in the exports OF merchandise,
Z IL per Cent for the Week, which gives
promise with the returns for July to put
a speedy end TO al shipments Of gold, as
th2 merchandise balance will soon require
heavy movements of specie this way
The boot ana shoe industry is steadily
gaining, with larger orders, in spite Of
the recent advance. in nricac
Tie sales OF wool, as comparative re.
turns by months show, bear little relations
to the actual consumption in manufacture.
Nevertheless prices have risen during the
past few weeks, nearly / cent per pound
Failures for the week have been 237
in the United States against $50 last
year, and 29 in Canada against 80 last
year.
Rradstraet's VIII say: General trade
shows the most PRONOUNCED gains this
week in Chicago, st. Louis and Galveston.
The feeling of confidence that general
business is to improve in th, early autumn
is marked at these cities. On the Pacific
Coast business is brisk. the feature I'm
California being heavy wheat shipments
at San FranciSa ,; a { Portland, largeexports
OF lumber, and at Seattle and Tacoma,
active demand for supplies for Alaska
and the Northwest Territory.
The movement Of general m ercha ndise
Throughout the country is unquest,onaflv
larger tnan last week. The wooden indus
tTlFS are better off and the stagnation in
iron and steel aas given way to a grow
ing inquiry and increasing output. Mere
Significant still is the extraordinary ex-
pansion IN TANK clearings this week and
last month.
Cur expect trade in the year ending
June 80, 1897, was S1.032, ,G01 900: the
largest total on record, Is per cent larger
than i'll the previous record year, 1892
Compared with the year ended June 80. |
1896, the gain is 90 per cent.