The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-10-14
IN THE WORLD OF BUSINESS.
nRADSTREETS AND DUN & CO.'S
WEEKLY REVIEWS OF FL
NANCE AND COMMERCE..
BUSINESS IS STILL INCREASING
Though There Are Several Reaction
airy Influences at WOrk-NIanu-
featuring Industries Continue
Actiye-GOOd Outlook.

New York, Oct. S.-R. G. Dun & Co..
weekly review of trade will say in its
| issue tomorrow:
While failures were the smallest known
in any quarter since 1892 and business
payments through banks the largest by
$26S, 100000 ever known in September,
the spectators who profess anxiety about
Cuba or fever at the south or munich
pal election still have some influence.
Helping them just now is the fact that
after extraordinary purchases for repen-
ishment of stocks from any section or
town there must necessarily be for time
less buying from that quarter. Yet bus
mess is still increasing. the productive
force steadily enlarges. the distribution
of wages affords an increasing fund for
purchases and the foundations are laid
for larger business hereafter. The
weeks exchanges are S.S per cent larger
than in 1892.
Crop reporters, who nave widely diff
fered, now agree in putting the yield of
wheat at about 5S0,000,0O0 to 100000
900 bushels, which is nearly 20G,000,000
bushels more than will be required for
home use, keeping stocks as they were
July 1, the lowest for seven years. AS
foreign reports indicate q larger demand
and exports since July 1 have been near
" as heavy as in the best past year, with
2,9So,97S bushels from Atlantic ports,
flour included, for the last week against
2,24O,5l1 bushels last year. the recovery
of l LIE in price for the week is not with
out reason.
Cotton is unchanged in price, with
larger consuming demand though big
crop estimates do not appear to be dis
puted
A large increase in the production of
pig iron and heavy realizing sales of lots
held on speculation have caused q de-
cline of 15c to $1,000 for Bessemer at
Pittsburg, though grey forge there has
advanced 25c and pig iron is stronger at
Chicago and eastern markets
Reports of combination in steel rails
are denied and it is said that only three
large producers will agree on prices
while the rod and wire compact appears
to be still in the future.
Wool has now reached an average of
~ to 30 per cent per pound for 100 quo
tations of domestic by Coates Bros. of
Philadelphia, showing a rise of cents
since year ago, with a heavier rise on
some qualities but following an average
decllne OF IL cents from March. 1893.
Speculative sales still account for most
of the aggregate. which has been at the
chief markets 14.334.0 600 pounds for the
week, of which S,955.S90 pounds were
domestic.
Manufacturers are purchasing some
wool for mixture with cheaper wool
held for some months past. The rise has
SO greatly exceeded the advance in prices
of wooden goods that the mills might have
to pause but for the very large stocks pur-
chased in advance. Goods are strong.
with. further advance in some grades,
but in the aggregate thus far not 20 per
cent from the lowest point, against GO
per cent advance in the average price of |
wool; Dealings in cotton goods are de-
layed by weakness in raw cotton. but |
neither print cloths nor other goods have
declined since last week. Though the |
mills are not quite fully employed, a con-
tlnued increase in consumption is eX-
Dected.
Failures for the week were 90 in the |
! nlted States against 296 last year. and |
- in Canada against 46 last ycar