The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-09-04
FINANCE AND TRADE.
Statistics Of Failures Show Encour-
aging Business Conditions.
IMPROVEMENT WELL BALANCED.

Heavy Rcnl Estate and Building Trans
actions, Extraordinary Grain Move-
ments and Increased Business In Iron
Made the Busiest August Known.
New York, Sept. Ar. G. Dun & Co.'s
weekly review Of trade says: Failures
in August were in number not 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 ever been known in any year.
or even In any quarter OF the ~ years
R. G. Dun & Co. have kept quarterly
records. The improvement is also well
distributed, extending to nearly every
important branch of business, but in
clothing, jewelry and uncassified trad
ing only two months of the past Al
have shown smaller failures, in gen.
eral stores and furniture only three,
in groceries, hats and iron manurac-
ture only four, in hat and chemical
manufactures only five and in clothing
manufacture only six months OF the
u, The ratio Of defaulted liabilities to
payments at clearing houses has been
smaller in July and August than In
any other month since early In 1888
August was the first month in which
the daily average of settlements
through clearing houses exceeded ma
terially that of the corresponding
month of 1892, the excess at the prln-
i cipal cities being 1878 per cent
Nor Is this due, as might be sup
posed, to activity in stock speculation.
for the Stock Exchange clearing house
now disposes Of very large share OF
transactions, SO that they affect bank
exchanges far less than five years ago.
The volume of business here has been
distinctly larger in other than spechla-
tive lines than 1t was then, and In
textile goods phenomenally large
though slackenng this week, buyers
having nearly completed their initial
purchases. 90 With an extraordinary
movement In grain, heavy real estate
and building transactions and increas-
ed business in iron products, the month
was clearly the busiest August ever
known.
Wheat continued Its reaction until
It had fallen cents more, but then
rose 3 cents with the first revival OF
foreign buying Western receipts are
very large, though not quite as large
as q year ago, but Atlantic exports,
hour included, rose to 5,53i,75s bushels
for the week, against 2,175, ,453 last year.
The estimates which command con-
fidence still indicate yield Of 550,O0O,-
900 to 5So,OO0,oOO bushels.
Conflicting news doubtless reflects
conflicting facts, but the opinion gains
that the cotton crop will be large, IL
by lateness not exposed to serious in
Jury. The mills are now running and
turning out great quantities of goods
In response to heavy purchases recent
ly made. Wool sells largely between
epeculators, 16 6S,500 pounds for the
week. Mills have been buying more
freely to replace the wool rapidly con-
kurned, and the goods market has been
30 large and strong that they are en-
couraged to purchase even after rise
Of 50 per cent in year
The Improvement in the iron and
:. eteel industry gains momentum. and a
fhrther advance in prices makes 4.5G
pef cent from the lowest average Aug.
IL. The demand increases for sheets
and plates, especially for bridge and
ship building.
Bradsrreets' review says: Previous
activity in all lines Of trade Is main
tanned. There is better tone in de-
mand from jobbers, and the volume OF
business In wool, leather, clothing, hats
groceries and light hardware has in
nreased There Is better request fol
woolen and cotton goods, jewelry and
rubber goods, and for boots and shoes
Bone Wholesale merchants at western
centers report the largest volume CT
August trade on record. Last weeks
general and unprecedented expansion
of prices for staples Is continued.
There are only 1893 business failures
reported throughout the United States
this week, against 21O last year. SS6 lr
the corresponding week one year ago
1884 two years aso, 2O7 three years ago
and as contrasted with 379 In the likt
week Of 1898. There are 80 business
failures reported from Canada this
week. Last week the total was 80
and O year ago 1t was 80.