Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1897-09-09

r. @. Dun & Co., 10 their Review of
Saturdays Issue, report that the August
failures were in number II per cent
less than in August. 1896 but in
amount of liabilities 70.S per cent
smaller. July and August show
lower average of liabilities per failure
than has over been known in any year
or even in any quarter of the twenty
three years r. q. Dun h Go. have
kept quarterly records. The improve
meEt is also well distributed, extend-
ing to nearly every important branch Of
business, but in clothing, iewelry and
unclassified trading only two months of
the past forty.se have shown smaller
failures, in general stores and furniture
only three, in groceries, hats and iron
manufactures only four, in chemical
manufactures only five, and in clothing
manufacture only six months of the
forty seven. The ratio Of defaulted liza
bilities to payments at clsaring houses
has been smaller IN July and August
than in any other mUnth since early in
&1ott Al u5tDb WAS Aup llfbb III
which the daily average of settlements
through clearing houses exceeded
materially that of the corresponding
month of 1892. The volume of bust
ness here has been distinctly larger in
other than speculative lines than it was
then, and in textile goods phenome-
nally large. though slackening this
week, buyers having nearly completed
their initial purchases. With an extra
ordinary movement in grain, heavy real
estate and building transactions. and
increased business 10 iron products,
the month was clearly the busiest
August ever known.
Wheat continued its reaction until it
bad fallen four cents more, but then
rose $ cents with the first revival of
foreign buying. Western receipts are
very large, though not quite as large as
year ago, but Atlantic exports, flour
included, rose 10 5,534, 75S bushels for
the week, against 2, 10, 453 last year.
The estimates which commanded conf
dence still indicate yield Of 500, 000, :
600 to $50, 600. 600 bushels, winter wheat
turning out 10 much beyond expecta-
tions as TO balance much of the loss in
spring wheat. Foreign accounts tlo not
improve, and unless much more decep-
i've than usual, the demand for Ameri.
IAN wheat will far exceed the quantity
which can be spared Continued large
exnorte of corn, and buying for export,
shuw still more clearly the extent of
deficiencies abroad. Cotton specula-
tion made August deliveries costly,
spot raising to 81 cents, but the market
then drifted back quickly to 1852 cents.
Conflicting news doubtless reflects con.
tiicting facts, but the opinion gains
that the crop will be large, il by late.
ness not exposed TO serious injury. The
crop of 1886, according TO the New
Orleans Cotton Exchange, was 5, 707, 9Gi
bales, which may be proiitahly com.
pared with predictions current eight
and twelve months ago. The mills are
now running and turning out great
quantities of goods in response to heavy
tOGtHtlJ Npui kblit
largely h.tween SPECTATORS, lG, SIS, SOC
pounds for tho week, making reported
sales in four months since May Isl
1911, 0G0, $50 pounds, OF which .02, 1872 AZ;
were foreign. But when the mills wert
busy in 1892 salos in thu four month";
were but ll,620, SOP pounds. The i'm
provement in thu iron and steel indus
try gains momentum, and further ad
vance in prices makes 10 per cent iron
the lowest average August 18th.
lIambleton Is Co. of Baltimore
bankers, in their weekly circular lette
say Tho best feature OF the presen
situation from market standpoint, j
tho fact that values have steadily i'm
proveh, notwithstanding tho absence o
encouragement from foreign buyers an
despite mora or less constant sellin
orders from the other side The MARIE
is in no sense dependent upon supper
from that quarter, desirable as it ma
he; that will come later and give add
tional impetus to the movement in
itiated Oh this side and sustained here
This means the presence of tho publ
in Wall street in greater numbers tha
has boon seen for many years. whic
gives strength and breadth 10 th
market, as the speculation is steadil
growing, and numerous opportunitit
will be afforded for profitable inves
ment and trading 10 all who may In
terest themselves in the stock and hon
markets. The tendency is distinct
toward higher prices throughout til
general list. "
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