Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-09-04
DUNNS REVIEW OF TRADE.

New York, September 3.-R. G. Dun
& Co.'S weekly review of trade will to-
morrow say:
Failures in August were in number
not II per cent. less than in August,
1856, but in amount of liabilities 70.8
! per cent. smaller. July and August
show lower average of liabilities per
/ failure than has ever been known in
any year or even in a quarter of the
! % years r. G. Dun & Co. have kept
| quarterly records. The improvement
| is also we'll distributed, extending to
nearly every important branch Of bus
! mess, but in clothing, jewelry and
| of the past AZ have shown smaller fail
ures, in general stores and furniture
| only 8, in groceries, hats and iron
manufacture only 4, in hat and chemi-
/ cal manufactures only 5, and in cloth
| ing manufacture only six mOEehs OF
| the At. The ratio Of defaulted liabil-
p! 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 settle
ments through clearing houses ex-
! ceeded materially that Of the CORE
spending month of 1892, the excess at
I ha ,vir 1.ir oil hain I
Nor is this due, as might be supposed
to activity in stock speculation, for the
stock exchange clearing house now dis
poses Of a very large share of trans
actions, SO that they affect bank ex-
changes far less than FIVE years ago
| The volume Of business here has been
distinctly larger than in other than
speculative lines than it was then. and
| in textile goods, phenomenally larger,
though slackening this week, buyers
having nearly completed their initial
purchases. With an extraordinary
| movement in grain, heavy real estate
and building transactions and in
creased 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
1 DC
| ports, -four included, rose to 5,534,758
! bushels for the week against 2,175, 453
last year. The estimates which COM
! mand confidence still indicate a yield
| Of $50 TO $50 million bushels of winter
| wheat turning out so much beyond
| expectations as to balance much of the
loss in spring wheat. Foreign ac-
counts do not improve and unless much
| more deceptive than usual the demand
| for American wheat will far exceed
| the quantity which can 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, 40 bushels against 3,16O. 318
last year and such movement at this
season implies a great export demand
not yet rejected in outgo.
Cotton speculation made August de-
liveries costly. spot rising to 81 cents,
but the market then drifted back
quickly to 1852 cents. Wool sells large
| ly between spectators. 1856. 500
F. pounds for the week Mills have been
buying more freely TO replace the wool
rapidly consumed and the goods mar
/ ket has been so large and strong that
they are encouraged to purchase even
| after a rise of 80 per cent. a year.
Great quantities are held by dealers
at the west above prices yet paid in
seaboard markets.
The improvement in the iron and
steel industry gains momentum, and
a further advance in prices makes As
per cent. from the lowest average, Au-
/ gust IL. The demand increases for
sheets and plates, especially for bridge
and ship-building, including 10000 tons
at Philadelphia, in structural work.
of which it is said that the 10000 tons
have been placed. It Chicago, in bars