River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1897-10-07
CONDITION OF TRADE.
faiiures show Lower Average
Than for Many Years.

New York, Oct. 2.-R. G. Dun d Co., In
their weekly review of trade, say:
The failures during the third quarter
or 1897 were 1903. with liabilities OF saS,-
s6326l. Of which % were in banking. for So
SS','siS Commercial failures. ASA. with
Liabilities OF S25,575.iS2. average only s.. 500
each, lower than in any quarter for q
years. The amount OF default la bill
ties Is the smallest in any quarter for five
years. and in Is years only six quarters
have shown smaller liabilities. Manufac-
turing failures, col. with liabilities Of So
4Si,l9l. average but s14,4S7 each; and trad
ing. 2l64. with liabilities Of sl2 SOS 0c5, aver
age but S,927 each. both smaller IN average
OF Liabilities than in any previous year Of
which classified records exist.
The volume of legitimate business con-
tinues little larger than in the same
month of 1892. for while tho great increa Sc
of IA per cent. at New York for the week
might be supposed due to speculative
activity, in spite OF the establishment and
growth OF the stock exchange clearing
house. yet payments through the prin-
cipal che airing house outside Of New York
exceed those Of 1892 by IS per cent. for
the week. and per cent. for September
New York makes settlements for n large
part Of the country. and the daily av-
erage. including this city. was In Septem-
Der, s206SG4,0 600. against 1884, $4,000 last,
s133 80 600 in 1894 Sl22 1888 900 in 1898 and s176
S27.0 600 in 1892, SO that the gain over the
same month in the best of past years is II
per cent.
These evidences Of reviving prosperity
are the more important because prices for
most manufactured products have ad-
vanced but moderately. and are much be-
low the level of 1892, while speculative
markets are all declining with curious
unanimity. as II the large crops. which
make grain and cotton weak. would not
assure increased business to railways and
warrant better prices for stocks. Specula-
tion in wheat and cotton has been set
back by bright crop prospects. The wheat
estimates of 590000.000 bushels. about ZOO
100000 bushels more than would be re-
quired for food and seed leaving the
smallest stocks for six years without re-
Punishment. was followed by decrease IN
foreign buying and caused weakness. The
price OF wheat has declined cents and Of
corn nearly cents for the week. Dismal
reports have been frequent but the mar
ket shows more faith in predictions OF
a large yield and the per cent. has de-
clined a quarter Of cent for the week.
Turning from speculative markets to
productive industry. the change in tone
is striking. All industries are pushed to
increase working force, with occasional
rise in rate of wages. by the growing de-
mand This is largely for replenishment
OF stocks. but dispatches show that retail
trade at nearly all northern points con-
tinues To expand, and dealers well know
that increase of working forces and OF
wages insures a larger distribution Of
goods Anxious appeals nor speedy deliv-
cries disclose more rapid distribution al
ready than had been expected, and in
textile manufactures the works are hin
dered from taking as liberal orders as
they might by doubts about future prices,
though having enough to do for some
time
slower to gain. because less affected
by replenishment Of dealers stocks than
4. H.
has been pushed TO further expansion by
growing demand for finished products,
which has caused a little further advance
In prices
Failures for the week have been 1874
in the United States. against 299 last year,
and "a in Canada, againSt 46 la st year"