The San Francisco call., 1897-09-04
DUN,s REVIEW OF TRADE.

NEW YORK, n. Y, Sept. 3-R- G. Dun d Co.
in their Weekly Review OF Trade tomorrow will
say: Failures during August were in mum ber not
II per cent less than in August, 1896, but in
amount of liabilities 7OS smaller. July and Au-
gust show lower average OF liabilities per failure
than has been known In any year, even
in a quarter, of the twenty-three years Il. G. Dun
IL Co. have kept quarterly records The improve
ment is also well distributed, extending to nearly
every important branch of business, but in cloth
ing, jewelry and unclassifed trading only two
months Of the past forty seven have shown smaller
failures; in general stores and furniture Only
three: in groceries. hats and iron manufactures,
ouy four; in chemical manufactures only five
and in clothing manufacture only six months of
the forty-seven.
The ratio of .defaulted liabilities to payments at
clear n ng-houses has been smaller in July and Au-
gust than in any other month since early in 1893.
August was the first month In which the daily
average of settlements through clearlng e houses
exceeded materially that OF the corresponding
month of 1892 the excess at the priucipal cities
being 2. 8 per cent Nor is his due, as might be
supposed, activity in stock speculation for the
stock Exchange Clearing house now disposes of
a very large share OF transactions that they
affect bank exchanges far less than five years ago.
Wheat continued i reaction until it had fallen
A cents more, but hen rose cents with the first
revva of foreIgn buying. Western receipts are
very large, though not quite large year ago.
but Atlantic exports, flour included, rose 10 5534.
IA bushels for the week, AGAINST 2l75,4b3 asst
year The estimate which command confidence
still indica.e yield Of 5G,O0U0U0 to $4,000. 900
bushels Of winter wheat, turning out so much
beyond expectations as TO baan much of the
loss in spring wheat. Foreign accounts do not
improve aud unless much more deceptive than
usual, the demand for American wheat will far
exceed the quantIIy which can be spared
The improvement In the iron ano steel industry
gains momentum, and further al vance in prices
makes A. from the lowest average.
August q The demand has increased for sheets
and plates, and especially for bridge and ship
building including 10000 tous at Philadep phia in
structural worn. of which it is SAID that 10000
tons have been placed at Chicago. For bars, and
especially wire and nails the demand IS
heavy. and all have advanced an average of ST. a
ton. southern and Western de lers have united
TO advance prices of pig 70 cents Bessemsr
Pitt burg has risen 10 cents and Eastern markets
are stronger he demand for is pressing
and work for railways incre8sed.
The first shipment of steel rails from this coun-
try 10 Australia was Zoo tons by the Lacka-
wanna Company. lin is still slightly lower at
IL o5c but heavy exports, said to cover l5.-
600. O00 pounds for the next three months, sus
tain copper at i14c, and lead is strong at l. lUc
Boot and shoe shipments, not quite per cent
smaller than last year August. nor per cen
smaller tnan in 1898 were 712 per cent smaller
than 1893, but were a little larger than In S92
Buying is still mostly for i'm Immediate necessities
but is sufficient TO keep works well EN- lloyed.
aiures for The past week have been ISL in the
United States against S34 year and 25
against 81 in Canada.