The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-10-02
LOWER THAN FOR % YEARS
VOLUME OF BUSINESS CON-
TINUES LARGER.
INDUSTRIES HAVE TO INCREASE FORCE
Iron Manufacture Further Expands by Demand
For Finished Products Failures For Week
1874 Against 299 For the Same
Time Last Yer.

1874 Against Ivy for ule odli'e
Time Last Yelr.
New York. Oct. 1.-Bradstreet's to-
morrow will say:
General trade is marked by increased
activity in wool, hides, iron and steel
and their manufactured products, but
business in the quarantined districts
is most at a standstill, and at all ex-
cent a few northwestern distributing CEN
ters, in spring wheat States, where busl-
ness is relatively most active, there is
check to the demand for dry goods, hats
and clothing. Favorable reports come
from q region extending from Knox
Vile to st. Paul and from Omaha to
Milwaukee. The tendency is to increase
estimates of the wheat crops and lncrease
the probable yield of cotton.
The prices movement shows long
list of unchanged quotations this week,
including various iron and steel staples,
wool, hides, print cloths, lumber, nails,
copper, pork, beef, coffee and sugar. In
creases are confined to a nominal ad-
vance for anthracite coal, 20 cents for
Bessemer pig iron, fractional gains for
wooden goods. Potatoes have reacted
from the extremely high prices at the
west, and cotton is off further. Lead is
lower, as are corn, oats and flour, in
sympathy with wheat, which dropped 2
cents on Bradstreet's reported increase
of nearly 100000 bushels in the
worlds visible stocks.
Wheat flour included as wheat) ex-
ports from both coasts of the United
States and Montreal this week slightly
exceed those of last week, the total ag-
gregating 5,924, ,246 bushels, against 81
sos, ,S25 bushels last week, 4.215.294 in
the week year ago, 2,613,S66 bushels
in 1895. 3,243, 100 bushels in 1894 and
3,1S9,O00 bushels in 1898. Corn exports
show a considerable falling off, the to-
tai being 3,10S,601 bushels, against f.
022, 900 bushels last week, 3,165, 900
bushels year ago, 1,3S3,754 bushels in
1895, $4,000 bushels in 1894 and 642 900
bushels in 1893.
The total number of business failures
in the United States for nine months re
ported by Bradstreet's is 1888, O de-
crease of 13 per cent from the cores.
ponding total last year, but six per cent
more than in '94 and IL per cent fewer
than in the corresponding period of '93
This years failing corporations, firms
and individuals report $11S,48 900 lia-
bilities,a total Of 30 per ent smaller than
one year ago, about six per cent larger
than in nine months of 95 and of '94
and GA per cent less than in the cores.
pond;ng period of '93. The rate of fail
ures in proportion to the number in busi-
ness is decreas sing. With reference to La
bilties the falling off is noticeably rapid.
Business failures throughout the Do.
minion of Canada amounted to I501
for the past 8 months, a falling off as
aJ xtrsf 1ac Of
than ten per cent. Total liabilities are
$-J,653,000 this year against $12,219,.
600 last year.
DUN & CO.'S REVIEW.
New York, Oct. 1.-R. G. Dun and
Company's Weekly Review Of Trade
will say in its issue tomorrow:
The failures during the third quarter
of 1897, obtained yesterday by telegraph,
were 1908, with liabilities of $2S $685.
261, of which % were in banking for
$3.3S7. .069. Commercial failures2, ,S74,
with liabilities of 5,576, 1872, averag-
ing only $500 each, lower than in any
other quarter for twenty-three years.
The amount of defaulted liabilities is
the smallest in any quarter for five years
and in fifteen years only six quarters
have shown smaller liabilities. Manu-
featuring failures 651, with liabilities OF
S9.431, ,191, averaging but $14,4S7 each
and trading 2,164 with liabilities ofSl2,-
S25.0e5, average but $5,927 each, both
smaller in average of liabilities than in
any previous year, Of which classified
records exist.
The volume Of legitimate business con-
tinues a little larger than in the same
month of 1892, for which the great in
crease of 27.4 per cent at New York for
the week might be supposed due to specu-
lative activity, in spite OF the establish
ment and growth of the Stock Ex-
change Clearing House, yet payments
through the principal clearing houses out
side Of New York exceeded those of 1892
by 3.5 per cent for the week, and &c
per cent for September. New York
makes settlements for large part of the
country and the daily average, including
this city, was in September $206,364, ,000
against $134, 900 last year, $133,-
and $116,327 900 in 1892, so that the
gain over the same month the best of
years is 10 per cent.
These evidences of reyiying prosperity
are the more important because prices
for most manufactured products have
advanced but moderately and are much
below the level of 1892, while specula-
tive markets are all declining with curl
GUS unanimity, as if the large crops,
which make grain and cotton weak,
would not assure increased business in
railways and warrant better prices for
stocks.
Speculation In wheat and cotton has