The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-06-10
IN THE WORLD OF BUSINESS
BRADSTREET AND II. G. DUN q
CO.'S REVIEWS OF FINANCE AND
COMMERCE..
ENCOURAGING failure Statement
Small in Number and Amount Oh
Liabilities Retail Distribution
Large and Constantly Increas-
ing-Fine Crop Prospects.

New York, June Ar. G. Dun & Co.'s
weekly review of trade tomorrow will
say:
The statement of failures in May by
branches of business gives more encour-
agement In amount of defaulted La
bilities the month was the smallest since
September, 1885,, in manufacturing, the
smallest since November, 1895, and in
trading liabilities the smallest since Sep
TENDER, except the last month OF 1884.
Failures of general stores have not been
as small in any month as in May, 1897;
in only two months out of thirty-six have
there been smaller failures in boots and
hats, only five in groceries,, and not one
trading class in that month has reported
failures larger than in half the preced-
ing month, though in furniture failures
are rather numerous. In clothing man
ufacture the month was the smallest ex-
cepting four out of thirty-six, except i've
in chemicals, six in wooden goods, seven
i'll machinery, lumber and miscellaneous
manufactures, and exceeded the average
only in iron and cotton goods and earth
enware, owing to a few failures of ex-'
ceptional size.
Nobody can mistake the meaning of
such returns. The statement that, ex'
cept for the temporary depression in
prices, the volume of business transact
ed is now larger than it was in 1892, the
year of greatest prosperity, has been
questioned by some. But comparison
of prices this week in leading branches
of manufacture not only confirms that
view, but shows a remarkable similari-
ty TO the course of prices in the earlier
months of 1879. when the most wonder
full advance in production and prices ever
known in this or any other country was
close at hand. The key of the situation
is the excessive production Of some goods
mand. So, in 1879, consumption grad
ually gained, month by month, until sud-
denly it was found that the demand was
greater than the possible supply. All
know how prices then advanced and the
most marvellous progress in the history
of any country resulted within two years.
Reports from all parts of the country
now show that the retail distribution of
products is unusually large and increas-
ing Cotton is not higher and the belief
that the next crop will be large in spite
of the floods is general, while the demand
for goods does not change, although in
this country it is large enough to keep
the market for most goods steady. Nor
is there any satisfactory demand for
wooden goods, and sales for wool for the
week have only been 5,S36,00O pounds,
and for five weeks, 34,641 900 pounds,
against 26, S0015 pounds in the CORE
spending weeks of 1892. The transac-
tions greatly exceed the demands of the
mills, although they are larger of late
because manufacturers of wooden goods
have steadily been increasing orders.
The iron industry is apparently ex-
panding production and is certainly get
ting larger contracts, in part because of
very low prices, cent being made for
beans. Bessemer pig is stronger.
Crop prospects are so good that the
rumOrs customary at this season have
no attention. 1t was stated a week ago
that along the northwestern roads pros
poets were remarkably bright and high
ly favorable reports have since appeared
from Kansas and from Texas and are
given in today's dispatches from the Pa
cific coast.
The enormous outgO of corn continues,
receipts having been 1921 ,O23 bushels,
against 2,609,9S4 bushels for the same
week last year, and the exports were
1,926,566 bushels. aginst 1,293,316 BUSH
els last year.
Failures for the week have been 241 in
the United States, against 234 last year,
and 81 in Canada, against 20 last year.