The times. [volume] (Richmond, Va.) 1890-1903, 1897-10-02
CONDITION OF BUSINESS
INCREASED LCTfYITY IN WOOL,
HIDES, IRON AND STEEL.
Remarkable Decrease In Failures and De-
faulted Liabilities for the Quarter.
The Textile Market.

NEW YORK, October L.-Bradstreets
tomorrow will say:
General trade is marked by increased
activity in wool. hides, iron and steel
and their manufactured products, but
business in guaranteed districts Is al
most at a standstill, and at all except a
few northwestern distributing centres In
the spring wheat States, where business
is relatively most active. there is a check
to the de land for dry goods, hats and
clothing.
Favorable reports come from a region
extending from Knoxville to 81. Paul
/ and from Omaha to Milwaukee. The ten
| dency is 10 increase estimates OF the
wheat crops n increase the probable
yield of cotton.
The principal movements show a long
list of improved quotations this week
including various iron and steel staples,
wool. hides. print cloths, lumber, nalls'
copper. pork, beef. coffee and sugar IN
| creases are confined TO a nominal advance
for anthracite coal. twenty-five cents TOT
Bessemer pig iron. fractional gains tor
leaf tobacco. naval stores. butter. lara
and another advance for woollen goous'
Potatoes have reacted from the extremely
high prices at the West. Lead Is lower
as are corn. oats and four in sympathy
with wheat. which dropped two cents on
Bradstreet's report. Cotton IS on.
WHEAT.
Wheat mour included as wheap eN.
ports from both coasts OF the Unlteo
states and Montreal this week slighuy
exceed those Of last week. the total aggre-
eating 5.s24.2 f6 bushels. against ~5'sOs'Szo
bushels last week. APIS. 294 in tho week a
year ago. 2.6l3.S66 bushels I'm 1895. 32B,l"
bushels I'm 1894. and 3.lS9.0oO bushels In
1885,.
Corn exports show a considerable fall
ing off. the total being 3.los.6 COL bushels.
against 4022O 900 bushels last week. 3.l65.OoO
bushels n years ago. 1888. 75i bushels IN
1895. 5000 bushels in 1894 and $4,000
bushels I'm 1899.
The total number Of business failures
IN the United States for nine months re-
ported by Bradstrets Is 1858. a decrease
Of Il per cent. from the corresponding
total last year. but 6 per cent. more than
In 1894 and II per rent. fewer than in the
corresponding period OF 1895. This year :
failing corporations. firms and individ-
uals report Sis. $4,000 liabilities. a total
20 per cent. smaller than one year ago.
about 6 per cent. larger than I'm the nine
months Of 1895 and 1894 and 81 per cen'
less than in the corresponding PERIOD or
1898. The rate Of failures in proportion TO
the number I'm business is decreased.
with reference TO liabilities the falling
off is noticeably rapid.
Business failures throughout the DO
minion Of Canada amounted 10 lOl for the
past nine months. a falling off as COM
pared with last year OF 80, or less than
10 per cent. Total liabilities are SlO.653,ODO
this year. against Sl2.2 l9.000 last year.
r. G.. Dun & Co.
NEW YORK. oct. t-R. G. Dun & Co.'S
Weekly Review OF Trade will say to-
morrow:
The failures during the third quarter
Of 1897. obtained yesterday by telegraph,
were 1908. with liabilities OF So ,H63 .26l.
Of which % were In banking. for S3,3sf,
O60. Commercial failures, 2.SI4. with la
bilities Of S25.57G. 1872. average only Ss.ekl
each. lower than In any other quarter for
twenty-three years.
The amount Of defaulted liabilities is
the smallest IN any quarter for I'VE years
and in fifteen years only six quarters nave
shown smaller liabilities. Manufacturing
failures. Col. with Liabilities OF S9.43l ,lel,
average but Si4.4S7 each. and trading
2.16l. with liabilities OF Sl2. 900, aver
age but SJ.027 each. both smaller IN aver
age Of liabilities than In any previous
year. of which classified records exist.
The volume Of legitimate business col
| lectiOns are little larger than IN the same
month of 1892, for while the great IN
| crease Of PA per cent. at New horh
for the week might be supposed due 20
speculative activity. In spite OF the estap-
lishment and growth Of the stock TX
change clearinghouse. yet payments
through the principal clearing houses out
side of New York exceeded those Of lS"-
by 30 per cent. for the week ana ~ PEI
cent for September. New York makes
settlements for a large part Of the coun-
try. and the daily average, ncludln tnls
civ. was in September sou. 3o4 .vup,
against Si34 $4,000 last, $l33,3lVNu1 ln
1S0t 500. 1884 900 in 1893. and Sll6.32I .OOl
I'm 1892. so that the gain over the same
month in the best Of years IS 10 per
IMPORTANT EVIDENCES.
These evidences of reviving prosperity
are the more Importance because pIlSS'
for most manufactured products have adj
vanced but moderately, and are much De
low the level Of 1892. while speculative
| markets are all declining with curious
| unanimity. as If the large crops .whlcn
| make grain and cotton weak would no,
assure increased business to all"ay ana
warrant better prices for stocks
SPECULATION in wheat and cotton mas
been set back by bright crop prospecis'
The wheat estimates of 59O.OOO,OOo Dusn-
els about POI coo 600 bushels more h a
would be required for food and seed' leds-
ing the smallest stocks for six years WIN
ont REIMBURSEMENT. was followed Dy ut,-
| crease I'm foreign buying ana causeu
weakness. Yet western receipts TOT iouI
weeks were but p .s25.554 bushels. against
81 Oo4 ga for the same weeks last year
and Atlantic exports, -four included as
trbeat arc 16. 3251 lis bushels, against
SiT6 3G4 last wear. while Pacific shipments
are also heavy, and corn exports over
" -. -. lost WpmT The nllfe OF
wheat has declined &c. anu OF CUT" hN"''s
20. for the week. g.
Turning from speculative markets 10
productive industries the cnahHe ~ so.e
Is striking. All Industries are pushed 20
Increase working forces with occaslonal
,isa in rate of wages by the growing de-
mand. This is largely for replenishmen.t
Of stocks. u dispatches show that retdii
trade al nearly all Northern points con-
tinues 10 expand n dealers wei an mno oS
wages ensures a larger distribution or
goods. Anxious appeals for SPEEDY de-
liveries disclose more rapid distribution
already than had been expected.
TEXTILES.
T., textile manufactures the works are
Murdered from aking as liberal orders
as they might by DOUBTS ABOUT future
prices. though having enough to 10 Tor
Some time. The advance in cotton goods
hss been checked by the decline IN ma
terial hut In wOOllen goods the advance
in nrIces has been small compared WIN
the rise in wool. which IS helped BY stroh-
ger prices at London sales. me desness
sol 100 pounds In four weeks. ts.5I29O pc
ing domestic. but recent sales or very
large lots suggest that profit taking may
have begun.
Slower TO gain: because less a1fcteo Jy
er Industries. the iron manufacture mas
been pushed 10 further expansion Dy