The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-09-04
AVERAGE OF LIABILITIES LOW
EST FOR % YEARS.
THE IMPROVEMENT IS GENERAL
The Month Was the Busiest August Ever
3: Known in GRAIN Real Estate, Build
ing and Increased Business
in Iron Products.


Previous activity in all lines of trade
is maintained. There is a better tone
to demand from jobbers, and the volume
of business in wool, leather, clothing
hats, groceries and light hardware has
increased There is a better request for
wooden and cotton goods, jewelry and
rubber goods, for boots and shoes. Some
wholesale merchants at Western centers
report the largest volume of August
trade on record. There has been an in
creased consumption of cotton by South
ern mills.
Western iron and steel mills have or
ders to keep them busy until January
1st. In the Central Western States
the bituminous coal strike has had a
further depressing effect on the general
industrial situation. At the northwest,
some commercial houses have had to
work overtime to meet the demand for
goods and the warm weather is re-
ported to have practically assured the
yield in the corn crop. Mercantile col
lections have greatly improved in some
sections.
Last weeks general and unprecedent-
ed expansion Of prices for staples is
continued. wool, cotton and wool ia
Der, sashes and doors, iron and steel
bars, billets and rods, wire nails and
barbed wire and Southern foundry iron,
wheat, corn, lard and sugar having adj
vanced and higher prices being expected
for boots and shoes. Lower prices are
recorded for cotton, wheat, flour and cof-
fee, while those for oats, pork, print
cloths, petroleum and coal are I'M
changed.
This weeks exports of wheat flour in
cluded as wheat are the largest with
two exceptions, the second week of Sep
TENDER and the fourth week of August,
1891. Total shipments amount to g.
26S,247 bushels against 5,149,653 bush
els last week, 1868, S62 bushels last year,
2,260,261 bushels in 1895, 3,207, 800
bushels in 1894, and 100000 bushels
large, aggregating 3,1S5,O64 bushels this
week. 2,527. 500 bushels last year, L.,
4O5,37 bushels in 1895. 127. 900 bush
els in 1894, and 672,S76 bushels in
1893.
There are only 1913 business failures
reported throughout the United States
this week against 21O last week, 1886
in the week one year ago, 1874 two years
ago, POI three years ago and as con-
trasted with $40 in the like week of
1893.
There are 30 business failures report
ed from the Canadian Dominion this
week. Last week the total was 80 and
a year ago it was 30.
DUN & CO.'S. REVIEW.
New York, Sept. 3.-R. G. Dun &
Co.'s Weekly Review Of Trade will to-
say:
Failures in August were in number not
II per cent less than in August. 1896,
but in amount Of liabilities 7O.7S per
cent smaller. July and August show
lower average Of liabilities per failure
than has ever been known in any year
or even a quarter of the % years r. G.
Dun and Company has kept quarterly
records. The improvement is also we'll
extending to nearly every
important branch Of business, but in
clothing, jewelry and unclassified trad
ing only two months of the past Al have
shown smaller failures, in general stores
and furniture only three, in groceries,
hats and iron manufacture only four in
hat and chemical manufactures only five
and in clothing manufacture only six
months Of the AZ. The ratio Of defautled
liabilities to payments at clearing houses
has been smaller in July and August
than in any other month since early in
1898. August was the first month in
which the daily average of settlements
through clearing houses exceeded mater
tally 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 stock
speculation, for the stock exchange clear
ing house now disposes of a 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
speculative lines than it was then and
in textile goods phenomenally larger,
though slackening this week, buyers hav-
ing nearly completed their initial pur-
chases. With an extraordinary move
ment in grain, heavy real estate and
building transactions and increased bust
ness in iron products, the month was
clearly the busiest August ever known.
Wheat continued its reaction until it
had fallen four cents more but then rose
D ceutS With the uTSL revival OIL foreign
buying. Western receipts are very large,
though not quite as large as year ago,
but Atlantic exports, -four included, rose
TO 1854, 1853 bushels for the week, A.
yainst 2,175, 453 last year. The estimates
which command confidence still indicate
\ yield Of q .5SO,OOO,OOO bushels win
ter wheat t. ng out so much beyond
to balance much Of the
loss in spring wheat. Foreign accounts
DO not improve and unless much more
deceptive than usual, the demand for
American wheat will far exceed the
quantity which can be spared Contin-
ned large exports Of corn and buying
for exports, show still more clearly the
extent Of deficiencies abroad. Western
receipts for the week were 1O,O65. 40
bushels, against 3,16O,31S last year and
such a movement at this season implies
a great export demand not yet reflected
u Outgo.
Cotton speculation made August deliye-