The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-09-04
TONE CONTINUES FAVORABLE.
BRADsTREETs AND DUN's WEEK. =
LY MARKET REPORT.

Maintnined-The Demand For Cot
ton and Wooden Goods Has In
creaSed-Dua Compares the LiabiI-
ity of business Failures For the
Past Month with Those of Preced-
ing Years.
New York, Sept. S-R G. Dun & Co. s
weekly review of trade will tomorrow
say:
Failures in August were in number not
II per cent less than August 1896, but in
amount of liabilities 7O.S per cent smaller.
July and August show a lower average of
liabilities per failure than has ever been
known in any year or even in a quarter of
the % years, r. G. Dun and Company
have kept quarterly records. The i'm
provement is also well distributed, extend
ing to nearly every important branch of
business. but in clothing jewelry and I'M
classified trading, only two months of the
past forty-seven have shown smaller fail
ures, in general stores and furniture only
three, In groceries, hats and iron man
ufacture only four, in hat and chemical
manufactures, only five, and in clothing
manufactures only six months of the for
ty-seven. The ratio of defaulted liabilities
to payments at clearing houses has been
smaller in July and August than in any
month since early in 1898.
August was the first month in which
the daily average. of settlements through
clearing houses exceeded materially that
of the corresponding month of 1892, the
excess at the principal cities being 1913
per cent. Nor is this due, as might be
supposed to activity in stocks or collection
for the stock exchange clearing house now
disposes of a very large share of trans
actions, so that they affect back exchanges
far less than five years ago. The vol
ume of business here has been distinctly
larger in other than speculative lines than
1t was then and in textile goods phenOm-
enally larger, though slackennS this
week, buyers having nearly completed
their initial purchases. With an extra
ordinary movement in grain, heavy real
estate and building transactions and in
creased business in iron products, the
month was clearly the busiest August ever
has known.
Wheat continued its reaction until it
had fallen cents more, but then rose 3
cents with the first revival of foreign buy
ing. Western receipts are very large,
though not quite as large as a year ago,
but Atlantic exports, flour included rose
to 5,534,75S bushels for the week. against
PIE, 45S last year. The estimates, which
command confidence, still indicate yield
of $4,000, 600 to coo bushels, winter
wheat turning out so much beyond ex
pectatonS as to balance much of the loss
in spring wheat. Foreign accounts do not
improve, and unless they are much more
deceptive than usual, the demand for
American wheat will far exceed the guam
tity which can be spared. Continued large
exports of corn and buying for export,
shows still more clearly the extent of de-
ficiencies abroad Western receipts for
the week were 1906, 40 bushels, against
s, 160,3lS last year, and such a &ovement
at this season implies a great export de-
mand not yet reflected in outgo
Cotton speculation made August deliv-
cries costly, spot rising 10 SA cents, but
the market then drifted back quickly to
1852 cents. Conflicting news doubtless re-
fleets conflicting facts, but the opinion
gained that the crop will be large, and
by the lateness, not exposed 10 serious in,
jury. The mills are now running and turn
ing out great quantities of goods in order
to meet heavy purchases recently made.
Wool sells largely between specula tors
1865, 500 pounds for the week. Mills have
been buying more freely TO replace the
wool consumed, and the goods market is
50 large ana StIOHS lHdi lil6y are ShCOuI-
aged TO purchase even after a rise of 50
per cent. in a year. Great quantities are
held by dealers at the west above prices
yet paid in seaboard markets.
THE improvement in the iron and steel
industry gains momentum, and a further
advance in prices makes 40 per cent. from
the lowest average on Aug. N12. The de-
mand increases for sheets and plates, es-
pecially for bridge and ship building, in
GLIDING 10000 tons at Philadelphia in
structural work, of which il is said that
10000 tons have been placed at Chicago,
in bars, and especially in wire nails, have
all advanced an average of 81 per ton.
Southern and western dealers have united
to advance prices of pig % cents. Bes-
semer at Pittsburg has risen 10 cents and
eastern markets are stronger. The demand
for cars is pressing and work for rail-
ways increases. The first shipment of
steel rails from this country TO Australia
was of 1900 tons by the Lackawanna COM
pany Tin is slightly lower, 1855 cents;
but heavy exports, said to cover 1900, 900
pounds for the next three months, sus-
tain copper at ia. and lead is strong at
$40. Boot and shoe shipments. not quite
3 per cent. smaller than last year, but
were little larger than in 1892. Buying
is still mostly for immediate needs, but is
sufficient to keep works well employed.
Failures for the past week have been
year, and 25 against 81, in Canada"
New York, Sept. 3.-Bradstreet's to-mor-
row will say: Previous activity in all
lines of trade is maintained. There is a
better tone to the demand from jobbers,
and the volume of business in wool,
leather. clothing, hats, groceries and light
hardware has increased. There is a bet
ter request for wooden and cotton goods
jewelry and rubber goods, and for boots
and shoes. Some wholesale merchants at
western centers report the largest vol
ume of August trade on record
There has been an increased consump-
ton of cotton by southern mills.
Western iron and steel mills have or
ders to keep them busy until Jan. 1.
In the central-western states the btu
minous coal strike has had a further de-
pressing effect on the general Industrial
situation. At the northwest, some COM
mercial houses have had to work over
time to meet the demand for goods, and
the warm weather is reported to have
practically assured the Indian corn crop.
on the Pacific coast wheat exports have