The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-09-04

InsrsaIss-A Chssrfnl Outlook.
NEW YORK, Sept. s,-R, g. Dun a
Co.'S weekly review of trade Will to-
morrow say:
Failures in August were IN number
not seventeen per cent. less than IN
August, 1895, but in amount OF liabilities
seventy and elght-tenths per cent.
smaller. July and August show lower
average OF liabilities per failure than
has ever been known In any year or
even In n quarter OF the twenty-three
years II, G. Dun & Co. have kept quar-
terly records. The Improvement is also
well distributed, extending to nearly
every important branch OF business,
hut in clothing, jewelry and unclassl-
fed trading only two months OF the
past forty-seven have shown smaller
failures, in general stores and furni-
ture only three, In groceries, hats and
iron manufacture only four, In hat ana
chemical manufactures only five and In
clothing manufacture only six months
OF the forty-seven. The ratio or de-
faulted liabilities to payments at clear
lag houses has been smaller In July and
August than In any other month since
early In 1893 August was the first
month in which the daily average OF set
Elements through clearing houses ex-
ceeded materially that OF the corre-
spending month Of 1889, the excess at
the principal cities being twelve and
three-t -tenths per cent. Nor is this due.
as might be supposed, TO activity In
stock speculation, for the stock ex-
change clearing house now disposes OK
o 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 II
was then, and in textile goods, phe-
nomeEally larger, though slackening
this week, buyers having nearly COM
pleted their initial purchases.
Busisst August Ever Known.
With an extraordinary movement in
grain, heavy real estate and building
transactions and increased business in
iron products, the month was clearly
the busiest August ever known.
Wheat continued its reaction until 1t
had fallen four cents more but then
rose three cents with the first revival
OF foreign buying. Western receipts
nre very large though mot quite as
large as n year ago. but Atlantic ex-
ports flour included, rose to 5,5A,75S
bushels for the week, against 2,17b,453
last year. The estimates which COM
mand confidence still indicate yield OF
$50, 900 900 to bSO0O0,000 bushels winter
wheat, turning out so much beyond ex-
pectntlons as to balance much Of tho
loss In spring wheat. Foreign accounts
do not improve and unless more decep-
tive than usual the demand for Amer
lean 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 10,065,470 bushels.
against S,l6O31S last year, and such
movement at this season implies great
export demand not yet reflected in
the outgo.
Cotton speculation made August de-
llveries costly, spot rising to eight and
one-fourth cents, but the market then
drifted back quickly to seven and sixty
two hundredths cents. Wool sales
largely between spectators, 16b6S,bO
pounds for the week. Mills have been
buying more freely to replace the wool
rapidly consumed and the goods mar
ket has been so large and strong that
they are encouraged TO purchase even
after rise of fifty per cent. In q year.
Great quantities are held by dealers at
the west above prices yet paid In sea-
board markets,
Improvements In Iron and Steel.
kThe improvement in the iron and steel
Industry gains momentum, and fur
thef- ndyance in prices makes four and
fve-tenths per cent. from the lowest
average, August L.. The demand in
crepIes for sheets and plates, especially
FOR bridge and ship building, including
10000 tons at Philadelphia In struc-
turnl work. OF which II is said that the
10000 tons have been placed at Chicago
In bars, and especially In wire and wire
nails, and all have advanced an average
OF 81 per ton. Southern and western
dealers have united TO advance prices
OF pig twenty-five cents, Bessomer at
Pittsburgh has risen ten cents and
eastern markets are stronger The de-
mand for cars Is pressing and work for
rnilwnys increases. The first shipment
OF steel rails from this country TO Aus
tralla was OF 1000 tons by the Lack
nwnnnn company. Tin is slightly low
or M thirteen and siXty-fve hundredths
cents, but heavy exports, said TO cover
10 100000 pounds for the next three
months sustain copper at eleven and
one-fourth cents, and lead is strong at
$40.
Failures for the past week have been
1qi in the United States, against 2Si
Inst year. and twenty-five In Canada,
nrrInst thlrty-One last year.