Griggs courier., 1897-10-08
BUSINESS OUTLOOK.
Trade stin Continues TO Show :
Decided Improvement.
Failures show q Lower Average Than
for Many Years-volume OF Busi.
ness Larger-Revival In
Productive Iadustries.

their weekly review of trade, say:
1.-THE failures during the third quarter
Of 1897 were 2.90S, with liabilities Of $685.
963s261, of which % were in banking, for S.
3S7,oee. Commercial failures. 2.S4.. with
liabilities of $26.57e1s2. average only. s.. .sss
each, lower than In any quarter for %
years. The amount Of defaulted liabili-
ties Ii the smallest in any quarter for five
years. and in Is years only six quarters
have shown smaller liabilities. Manufac-
turing failures. 651, with liabilities of $9.-
81. .1s1. average but $14.4s7 each: and trad
age but $597 each, both smaller in average
of liabilities than in any previous year Of
which classified records exist.
Volume of Business Larger.
''rhe volume Of legitimate business con-
tinues little larger than in the same
Of "a 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-
exceeded those Of lss2 by Is per cent. for
the week, and 2 per cent. for September
New York makes settlements for large
part OF the country. and the daily av-
erage. Including this city. was in esptem-
900 in 1884, S22 900 in 1893, ana Sl7s.-
$4,000 In 1891, 30 that the gain over the
same month in the best Of past years IL
II per cent.
Speculation Set Back.
These evidences Of reviving prosperity
are the more important because prices for
most manufactured products have adj
vanced but moderately, and are much be-
low the level Of 1885,. while speculative
markets are all declining with curious
unanimity. as IL the large crops. which
make grain and cotton weak. would not
fvH4NA aAA tH,,.1 n~w~A~ ASnA
warrant better prices for stocks. spect,la-
tion in wheat and cotton has been set
back by bright crop prospects. The wheat
estimates Of $4,000 900 bushels, about 20o.-
100000 bushels more than would be re-
Qutred for food and seed. leaving the
plenishment. 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
ket shows more faith in predictions OF
. large yield and the per cent. has de-
clined quarter Of q cent for the week.
Working Forces Increasea.
Turning from speculative markets to
productive industry, the change in tone
10 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 force and of
wages insures . larger distribution Of
goods. Anxious appeals for speedy deliv-
cries disclose more rapid distribution al
ready than had been expected. and in
textile manufactures the works are him
dered from taking ~ liberal orders a.
they might by doubts about future prices.
though having enough to do for some
time.
1.-THE total number Of business failures in
the United States for nine months report
ed by Bradstreet's IL 9.ss3, . decrease Of Is
per cent. from the corresponding total last
year; but per cent. moro than in 1894.
and II per cent. fewer than In the corre-
sponling period Of 1898. This years fall
ing corporations. firms and individuals re-
ports $l18. .4S4 900 liabilities. total 30 per
cent. smaller than one year ago; about
per cent. larger than in nine months Of
1895 and Of 1894. and "a per cent. less than
in the corresponding period Of 1888 The
rate Of failure in proportion to the num-
ber in business IL decreasing. With refer
ence to liabilities the falling of ~ notice.
ably rapid"