The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-04
IN THE BUSINESS WORLD.
The Average Liabilities Of Failures
Smaller Than Ever Known.
IMPROVEMENT WELL DISTRIBUTED.
Month of August the busiest Even
Known--Bradstreet' says Previ-
ous Activity II Maintained.
New York, September ar. G. Dun &
Coz weekly review OF trade will say to-

New York, September 3.--R. G.. Dun &
morrow:
Failures in August were in number not
IL per cent less than In August, 1895, but
in amount OF liabilities 7O.S per cent
smaller July and August show lower
average OF liabilities per failure than has
ever been known In any year or even
quarter Of the twenty-three years that X.
G.. Dun q Co. have kept the quarterly
records. The Improvement is also well
distributed. extending to nearly every I'M
portant branch Of business, but In clothing.
jewelry and unciassiled trading during
two months past, there has been forty
seven failures, in general stores and furni-
ture only three. in groceries, hats and
iron manufactures four, In chemical manu-
features only fve and In clothing manu-
facturee only six. The ratio OF defaulted
liabilities to payments at clearing houses
he's been smaller in July and August than
In any other months since early In 1888.
August was the first month in which the
daily average of settlements through
clearing houses exceeded materially that
OF the corresponding month Of 1892, the
excess at the principal cities being l2.3
per cent Nor is this duo as might be sup
posed to activity in stock ejaculation, for
the stock exchange clearing house now
disposeS OF very large share OF the
transactions so that they affect bank
exchanges far less than Ave years ago.
The volume of business here has been dis
tinctly larger in other than speculative
lines than II was then. and in textile goods
Fundamentally larger, though slackening
this week, buyers having nearly completed
their initial purchases. With an extraor
binary movement In grain heavy real es-
tate transactions and increased business
In iron products, the month was clearly
the busiest August ever known.
Wheat continued it's reaction until 1t
had fallen cents more. but 1t then rose
cents with the first revival of foreign
buying. Western receipts are very large,
though not quite as large as n year ago,
but Atlantic exports flour included) rose
to 5534.75s bushels for the week, against
2.175,l53 last year. The estimates which
command confidence still indicate a yield
of 1000, 900 to 0.0O0000 bushels winter
wheat turning out so much beyond ex
pectations as to balance much OF the loss
In spring wheat. Foreign accounts do
not improve and much more deceptive
than usual the demand for American wheat
will Tar exceed the quantity which can
be spared, Continued large exports OF
corn and buying for export show still more
clearly the extent of the deficiency
| abroad. Western receipts for the week
were l0,065.470 bushels, against S.160,31S
last year and such movement at this
season implies great export demand, not
yet reelected In the outgo.
| In cotton speculation, the August de-
liveries rose TO Ia cents, but the mar
| ket drifted back quickly to 762. Con-
| iiicingimews doubtless reflectG conflicting
facts but the opinion gains ground that
the crop will he very large, II by latcness
| II IL not exposed to serious injury. The
mills are now running full and turning
| out great quantities OF goods.
| Wool sales, largely between spectators,
were lGG4S GOO pounds for the week. Mills
| have Men buying far more freely. Great
quantities are held by dealers at the West
| above prices yet paid at seaboard markets.
The Improvement in iron aud steel gains
momentum and further advance In prices
| makes 4.5 per cent from the lowest aver
age on August 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 10000 tons have been
| placed at Chicago In bars and especially
In wire and wire nails, which have ad-
vanced an average of / per cent per ton.
Southern and Western dealers have united
| TO advance pig 2b cents. Bessemer at Pitts
burg, 10 cents and Eastern markets are
stronger The demand for cars Is press
Ing and work for railways increasing
The first shipment OF steel rails was made
| from this country to Australia.
TIN slightly lower at 1856. but heavy
| exports sold to cover l500O.Ot pounds for
| the next three months sustain copper at
II Id cents and lead Is strong at 4 10.
Boots and shoes shipment not quite
per cent smaller than last year in August,
nor per cent smaller than In 1895. were
" per cent smaller than In 1894, but were
little larger than In 1892. Buying is
sun for immediate needs but Is sufficient
to keep all works well employed.
Failures for the past week have been
| iol In the United States. against 1874 last
year and twenty-five In Canada, against
| thirty-one last year