The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1897-09-10
DUN'S TRADE REVIEW.
A Wonderful Showing of Business
for August.
All Previous Records Broken Lower
Failures and Smaller in Volume, with
More Business in Almost All Depart
ments of Trade and Manufacture,


ments of Trade and Manufacture.
New YORK, Sept. 4-R. G. Dun s.
Co.'S weekly review of trade says:
Failures in August were in number
not only = per cent less than in August
1896, but in amount of liabilities 7O 3
per cent. smaller. July and August
show a smaller average of liabilities
| per failure than has ever been known
in any year or even in quarter of the
23 years r. q. Dun 81 Co. have kept
| quarterly records. The improvement
| is also well distributed, extending to
nearly every important branch of busi-
ness, but in clothing, jewelry and un-
classified trading only two months of
the past Al have shown smaller fail
ures; in general stores and furniture
only three; in groceries, hats and iron
manufactures, only four; in chemical
manufactures, only five; and in cloth
| ing manufacture, only six months of
| the A.
The ratio of defaulted liabilities to
payments at clearinghouse 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 clearinghouse exceeded ma
terially that of the corresponding
month of 1892, the excess at the prin-
cipal cities being - 8 per cent. Nor is
this due, as might be supposed, to
activity in stock speculation, for the
stock exchange clearinghouse now dis
poses of a very large share of trausac-
tiOns, so that they affect bank cX-
changes far less than five years ago.
The volume of business has been
distinctly larger in speculative lines
than it was then, and in textile goods
phenomenally larger, though slacl1en-
ing this week, buyers having nearly
completed their initial purchases.
With an extraordinary movement in
grain, heavy real estate and building
transactions and increased business in
irol products, the month was clearly
the busiest August ever known.
Wheat continued its reaction until it
had fallen four cents more, but then
rose three cents with the first revival
of foreign buying.
Western receipts are very large,
though not quite as large as a year
ago, but Atlantic exports, -four in
cluded, rose to 5, 534, 75S bushels for the
week, against >, 49, 453 last year. The
estimates which command confidence
still indicate a yield of 500 OOO, 600 to
$50, 100000 bushels, winter wheat turn
ing out So much beyond expectations
as 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.
Continued large exports of corn, and
buying for export show still more
clearly the extent of deficiencies
abroad. Western receipts for the week
were 10, OG5, 400 bushels, against 3, lGO,-
SlS last year, and such movement at
this season implies great export de-
mand not yet reflected in outgO.
Cotton speculation made August de-
liveries costly, spot rising to 81 cents,
but the market then drifted back
quickly to 7.62. Conflicting news
doubtless reflects conflicting facts, but
the opinion gains that the crop viii be
large, if by Iateness not exposed to Sc
rious injury. The mills are now run
ming and turning out great quantities
OfgOOds in response to heavy purchases
recently made. Wool sells largely be-
tween spectators, 16, 56S 600 pounds
for the week. Mills have been buying
more freely to replace the wool rapidly
consumed, aud the goods market has
been SO large and strong that they are
encouraged to purchase even after a
rise of 50 per cent. in a year.
The improvement in the iron and
steel industry gains momentum and Il
further advance in prices makes A. per
cent. from the lowest average, August
H.
The demand increases for sheets and
plates, especially for bridge aud ship
building, including 100, 900 tons at
Philadelphia in structural work, of
which 1t is said that 20, 600 tons
have been placed at Chicago,
in bars, and especially in
wire and wire nails and all have ad-
vanced an average of 81 per ton.
Southern and western deale rs have
united to advance prices of pig p
cents. Bessemer, at Pittsburgh has
risen ten cents, and eastern markets
are stronger. The demand Tor cars is
pressing, and work for railways in
creases. The first shipment of steel
rails from this country to Australia
was of 1000 tons by the Lackawanna
Tin is still sligh tly lower at 1865
cents, but heavy exports said to cover
Is, OOO, 900 pounds for the next three |
sustain copper at Ia, and |
lead is str Ong at 40
Boot and shoe shipments, not quite |
five per cent. smaller than last year in |
August nor four per cent smaller than |
in 1926, were "a per cent smaller than
in 1894, but were a little larger than in |
1892. Buying is still mostly for imme |
diate needs, but sufficient to keep |
works well employed.
Failures for the past week have been |
19l in the United States, against 834 |
last year.