The times. [volume] (Richmond, Va.) 1890-1903, 1897-09-04
The DECREASE In FAILURES.
Seventeen Per Cent. Less Than in 1886
aud Liabilities 7O.S Per Cent. Less.
IMPROVEMENT WELL DISTRIBUTED
IL Extends to Nearly Every impor'""'
Branch ofIBusiness-Ihe Recovery oil
Whcat-Large Gains in Iron bus-
nsss-HesIihier Tone Everywhere

morrow says -
Fainres i'm August were In number u
ner cent less than in 1896. but in la
billties 10S per cent. smaller Juiy a"u
August show a lower average Oh laoiilueS
uer failure than has ever been known
In any year, or even in quarter Oh the
tyventy-fhree years n. g.. Dun d 90. nave
kept quarterly records. 49,,
Tha Improvement Is also well distri-
buted. extending 20 nearly every oIahSii
OF business, but, including Jewery anu
unclassifed trading, only TWO months u
the past forty-seven have SHOWN snalie'
failures, in general stores ana 1urhi-
ture, only three; and In groceries, mas;
and hat manufactures only four; chemlcdi
manufactures only fve; and In clothing
manufactures only six months OF the
fortv-seven. The ratio Of detaulted Ia
bllities TO payments at clearing-houses
has been smaller In July ana August
than in any other month since cary IL
1925.
VOLUME OF BUSINESS.
Auqust was the first month in which
,bo dailv average Of settlements through
clearing-hou exceeded materlaly 'na'
Of the corresponding month OF eV-, ,so 30
excess at the principal cities peins 80
per cent Nor is this due, as blishe 10
supposed, 10 activity in stocks ci' a,'sa
for the Stock Exchange cleAi ms -,
nov disposes of very large snare VI
transactions. 50 that they affect bank
oxcbanges FAR less than hve years aBo
NJ volume of business here has oeeh
dist,notlv larger in other than speculS.'nns
unos man Il was then, and IN teAu'o
Goods phenomenslly larger thousn
ee,o,l,e,ing ,bis week buyers having neai
l., comnIeted their initial purchases WIN
an extraordinary movement III gam
heavy real estate and building ua"sa
,ions and increased business IN iion plo.
ducts. the month was clearly the ous'e''
August ever known IL. ,,,u q
wheat continued its reaction uhlh II
had fallen four cents. but then rose thleo
ronts with the first revival of Foreign ouy-
H. Western receipts are very large
,boueb not quite as large as year aso,
| hut Atlantic exports, Hour eAciuuou' -
| IN 5sl 100 bushels for the week, ae@'nS1
| . 17s l,2 last year The estimates Whlcn
command confidence still indicate ylelo
| M 55O O00. 900 TO $50, 100000 bushels, Winle'
wheat turning out so much beSond eNpeC-
| tations as 10 balance much OF lhe iVa,
| I'm sprlng wheat. Foreign accounts 90 noS
improve and unless mucn moro aeSelS,-,
| man usual. the demand for american
wheat viii far exceed the quantity which
can no SHARED. Continued large exports
~ corn and buying for export snow sun
,,ore clearly the extent OF denclehcies
! abroad. western receipts TOT ths w. W.
were 10 O65.4 40 bushels, against o'loV,oin
| last wear. and such a movement at .nl9
| season implies a great export demahu hoe
| yet reflected IN ontso. ..,,
COTTON MARKET.
Cotton speculation made August ue
1,yeries cost. spot rising to Sl-ic., Dul
tho market then drifted back qulchiy 10
7G2 cents. Conflicting news uoup'le9S
aects conflicting facts, but inc op's''y"
| gains that the crop VIII be lalse, ~ ~
lateness not exposed TO serious J,s,
The mills are now running, anu ll',,,e eull'l'.e
ont oreot quantities OF goods IN respohas
- tea,,v purchases recently made. Nool
so,i, largelv between ulators-lo'ooo'S
or,d, Cor the week. Mills have been
| bu,ipe, moro freely TO replace the "oVi
| ranidiv consumed, and the goous maiNc'
10 50 large and strong that they arc en-
| .,,,,rae,od to purchase even after rise OF
| m ,or cont i'm "A year. Great quantluea
| are held by dealers at the west aDo'7
| nrices vet paid I'm seaboard markets
| The improvement in the IRON anu 50
| industries gains momentum,
| T,rtbor advance In prices makes 80 peE
- from the lowest average August
,ot, mo demand increases Tor sheets
ga nlates especially for bridge and snip
| bmiiding including 10000 tons at Pnllauei-
nbto I'm structural work, ana II Is Sdiu
| - On oaO tons have been placed at
| Ct,tcoeo fn bars. and especially IN WIRE
| ~ - nails. and all have advanced an
| 9veraee Of 81 per ton. SoulheIn anu
| vvostern dealers have noted an advance
| I'm nrices OF pig iron % cents. bessem.i
| ar pittsburg has risen 10 cents, anu h'o'-
| ern markets are strong. Inc deHienu ei,'li. io'
| cars Is pressing, and work Ioi ".coi
,screases. The first shipment or s'eel
- sron this country to Australia was
| 80 600 tons by the Lackawanha CON-
-, Tin Is slightly lower at 1900 cents,
| 70. teavv exports, said 10 cover loVVV'"V
! ad, for the next three months sus-
| - conner at II IL, ana lead II s'lons
| ''" to poots and shoe shipments are
~ .,t,e : per cent. smaller than iast
neor tn August, nor per cent sIia,,or a,,e
;bsn in 1895; were 7.l2 per cent. sliiallel a,.'.
| ,han In 1891. but we're niue lai 'l To-
en- 1Ss2. Buying Is still mostly io' IN ~.
| diato needs, but Is sulhoieN
| works well employed e,. have been
TaiIures for the past week nave peen n.
,oi f S.'' -. ,he limited states against S5i last
| wear. aud % against u m, IN Tan"'''
BRADSTREET. pa
| .-,.,r work.. September S-brao'
| .,raet's tomorrow will say
previous activity in all lines OF an trau'
| .. .s,ntained. There is a better tone I,
s..aaod from iobbers. and the volume oi
,',ntrasa IN wool. leather, clothing, ha's
s,.ooor,os and light hardware has lncreas-
| "a T6ere is better request LOT Wooi'
On and cotton goods, Jewelry ana ruoooi
| Goods and for boots and shoes' Soih'
| yholesale merchants at western oeh.Ie'
| are reporting the largest volume OF Au'
| gust trade on record. There has been AT
| increased consumption OF cotton Dy
| southern mills. Western iron and stee
mills have orders TO keep them busy until
| January ist.
In the Central western States the b.
| luminous coal strike has had farther
| sonressing effect on the general industria
| situation. At the Northwest some com
| ,,ercial houses have had to work over
| tina 10 meet the demand for goods and
| the warm weather is reported TO have
nrocticallv assured the Indian corn crop
| o. the Pacific Coast wheat exports have
| 80, checked by inability 10 secure crews
| ,or vessels. Mercantile calculations have
| Greatly improved in some sections. Las
1,eek's general and unprecedented expan
| sion of prices for staples is continued.
| Wool cotton and wool fabrics, hides
| leather white pine lumber, sashes anc
| doors iron and steel bars, billets, wire
| nails barbed wire and Southern foun-
| drv iron. wheat, corn. lard, and sugar
having advanced and higher prices beini
| oxnected for boots and shoes. Lower
nrices are recorded for cotton, wheat
| s,ou- ana coffee while those OF oats, pork