The evening tribune. (Pawtucket, R.I.) 189?-190?, 1897-07-03
Most Encouraging Feature
Is That Fall Trade
Will Be Good.
Satisfactory Condition Of Affairs
In Different Parts OF the
Country Very Gratifying.
MARKED DECREASE IN FAILURES.
Bank CIearings Reflect an Enlarged Volume
Of Trade-Increaslng Activity In the
Boston Wool Market.


Better weather has favorably affected
the sale OF seasonable goods, particu-
!arly clothing, hats and shoes. The most
encouraging feature Is the continued
and, in some instances. increased con-
fldence OF merchants and manufacture
ers that the autumn will bring larger
volume OF business at higher prices. The
approach of the Fourth of July holiday
has tended to check operations In some
lines Augusta cotton mills are paying
reduced dividends.
General trade is reported quite salts
factory at Kansas City, st. Louis,
Omaha, Memphis and New Orleans.
None Of the larger Eastern centers re-
cords an increase. The least favorable
feature of the week Is found in disap-
pointment at lack Of demand and re-
action In quotations for some varieties
OF iron and steel. The threatened idle
ness Of 200, 600 iron, steel and glass work
ers and's coal miners lis, except in the
latter instance, due, in part, to the
season of the year.
The tendency Of prices Is more en-
couraging. The speculative demand for
wool has advanced the price of that
staple, and tariff and other considera-
tions have resulted In higher quotations
for skins, hides and leather. Finished
iron at Western centers is 81 ton
higher. fBessemer pig iron has sold
lower. Lower prices are reported for
spirits OF turpentine, coffee and petrol
cum, while quotations for steel billets
and for sugar remain unchanged.
There are 1924 business failures re-
ported by Bradstreet's throughout the
United States during the past six months,
a falling off Of 578 from the like total
last year, with which exception II is the
largest aggregate Of failures in a like
period. Total liabilities Of individuals,
firms and corporations failing amount
to $93, 3,656, 900, a decrease OF 81, ,879, 900
from the corresponding total last year,
and Of ST., ,204,O00 from the liabilities re-
ported in the first half Of the panic year
1898. This total Is also smaller than in
the first half Of the year 1884, with which
exceptions it is the largest recorded for
the six months periods in 1S years.
While there has been only moderate
decline in the number of failures since
last year, liabilities have been unex
pectedly increased by the embarrass-
and other concerns in New England
within the last quarter. 1t is worthy Of
note that the New England states and
the territories alone, among groups Of
states and territories, report increases
in number of failures compared with last
year
June bank clearings reflect an en-
larged volume Of speculation and trade
in total which is 6S per cent larger
than that of May, 81 per cent more than
i'm June a year ago. 1.2 per cent more than
in June, 1896. and "a per cent more than
in June, 1894. The decrease compared
with the January total this year is less
than / per cent, while the falling Off
from June, 1892, is only 10 per cent.
Southwestern and New England cities
show the largest gains as compared with
year ago, 1916 and 1919 per cent, re-
spectively, while the heaviest decrease
Is that OF the northwestern group, Is per
cent. The entire gain at all cities I'm June
over a year aga Is accounted for by the
increases at the cities of New York and
Boston, respectively, 6 and IL per csNt.
For six months. clearings are still be-
hind those of a year ago. The total
clearings at rs cities are 24,964, ,430, ,2s2 a
decrease Of 30 per cent from the like
total In 1885, and per cent from 1895.
but n gain Of 13 per cent over the total
for 1894. Compared with 1892 and 1893
the decrease is about 1S per cent.
The weeks bank clearings amount to
81, ,06G, ,O0O, 900. about per cent more than
last week, but 36 per cent less than In
the like week last year.