The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1897-08-11
VERY GRATIFYING.
Further Signs Of Improvement In
Business Conditions
Less Failures Than for Any Month
In Four Years Past = Dun ana
Bradstreet Tell of the Dawn
of BetterfDays.
New York, Aug. 7.-R. G. Dun d. Co.
Al. -: IL, ,axiaxu Of trade nav.

i'm their weekly review Of trade, say:
-Four years ago. August s. 1893. the first
number Of Dun's Review was issued. with
failures In that month amounting 10 over
$50. 10000 while In the month just closed
failures have been only NII.IH. the
smallest In any month since 1892 The
statement of failures by classes OF busi-
ness for July and for 46 months shows that
in manufacturing failures nave peen
smaller than in any other months or the en-
tire period, In trading smaller than In any
other month except one, and In many
branches OF each department smaller IMAM
In most months of which records exist
1.-The pessimists who pronounced reports
OF gain fictitious and misrepresenting have
grown weary of their dismals and begin TO
see the dawn OF better days. Last month
was the first in four years or which the
volume Of business reported py clearing
houses was larger than in the same month
of 1892, and the telegraphic dispatches from
all parts OF the country given this week
show a gratifying Improvement This IS
partly due to a large yield or wheat ana
good prices. though the crop Is probably
not as large nor are prices mus iar as
high as In 1892. but Of cotton the price Is
higher and the yield probably larger than
In that year. Other farm products are
| realizing good prices, and the possible de-
crease In the yield OF corn may help TO
market the enormous surplus brought over
from last year. Liquidation OF powerful
combination in wheat brought reaction Of
cents on Thursday, but a gain Of ~ cents
occurred the day following.
The Industrial World.
ut is the wrong season TO expect much
from industries, and yet there has been
material Increase in the number OF hands
| employed in the iron manufacture because
OF the satisfactory adjustment or wages
dispute with the Amalgamated associa-
ton and the opening OF numerous estab-
| lishments which have been waiting. while
the coal miners strike seems each day
more likely TO end in a permanent settle
ment beneficial to both parties. Mean
while the demand for most finished prod
ucts Is steadily increasing, the feature
this week being large pipe contracts for
Russian oil fields. Sumatra and Germany.
While consumption does not equal the ca
pacity OF the works In operation, and prices
OF iron and steel products average slightly
lower, the situation Is altogether more
hopeful
THE sales OF wool. as comparative re-
turns by months show, bear little relation
TO the actual consumption in manufacture,
but heavy liquidation since the tariff bill
was enacted give the impression that some
dealers are no longer confident Of a speedy
advance. Nevertheless prices have risen
during the past few weeks nearly l cent
per pound. Manufacturers are buying but
little, though they are rapidly increasing
the output and are able to obtain an ad-
vance of about 10 per cent. In prices OF
goods with rapidly increasing orders. The
temporary curtailment OF output by cotton
mills continues, but does not yet bring i'm
proved prices for products. although the
demand is generally gaining.
Failures for the week have been 237 In
the United States. against 24o last year.
and % In Canada, against 30 last year."
From Brndstreet's Point of View.
Bradstreet's says:
General trade shows the most pro-
nounced gains this week at Chicago, ST.
Louis and Galveston The feeling OF con-
hdence that general business is to i'm
prove In the early autumn Is marked at
these cities, and purchases OF dry goods.
clothing, shoes and other staples have in
creased heavily and are followed by a dis
position toward prices up. Purchases were
restricted at Kansas City. Omaha and
some other northwestern points early In
the week, owing TO extreme heat and fears
of damage TO the Indian corn crop but
rains and cooler weather have stimulated
demand again. On the Pacific coast bust
ness is brisk. the feature in California be-
ing heavy wheat shipments to San Fran
cisco, at Portland large exports of lumber
and at Seattle and Tacoma active demand
for supplies for Alaska and Northwest Ter
ritory and for wheat, fruit and hops. The
movement of general merchandise
throughout the country is unquestionably
larger than last week. Cotton goods and
wooden industries are better off, and the
stagnation in iron and steel has given way
TO a growing inquiry and increasing out
put. But more significant still is the ex-
traordinary expansion In bank clearings
this week and last month.
THE upward tendency Of prices during
the past three weeks is again feature
wool being frmer and higher for some va
rietes. Cotton yarns are stronger also, as
are some grades of cotton at the west
Shoes are no higher. but leather and hides
cost more than week ago. as do wheat
Notwithstanding the reaction in Septem-
Der options), -four. pork. lard Pacific coast
hops sugar, soft coal and tea. There Is
a 25-cent advance in Bessemer pig iron at
Pittsburgh, where makers decline orders
for future delivery at current quotations,
and for iron bars and iron and steel sheets
at western centers. In fact. our prediction
in iron and steel has appeared.
Quotations for cotton and print cloths
remain practically unchanged, while those
for Indian corn and oats are lower on i'm
proved crop prospects. Other products quo
tations for which have declined are coffee.
petroleum. turpentine and resin."