The star. (Reynoldsville, Pa.) 1892-1946, 1897-09-08
FEW FAILURES.
Great Demand by Foreigners for American
Wheat--Rise In Iron.


II. q. Dun & Co.'S weekly review Of
trade reports:
Failures In August were In number
not only IL per cent. less than In Au-
gust, 1896, but in amount of liabilities
70.S per cent. smaller. July and Au-
gust show lower average of liabili-
ties per failure than has ever been
known In any year, or even in quar-
ter of the twenty-three years X. q.
Dun & Co. have kept quarterly rec
ords. The Improvement is also well
distributed, extending to nearly every
important branch Of business. but In
clothing, jewelry and unclassified ira
ding, only two months OF the past for
ty-seven have shown smaller failures;
In general stores and furniture only
three; in groceries, hats and iron man
ufacture only four; in hat and chem
ical manufactures only Ave. and In
clothing manufacture, only six months
of the fOrty-seven.
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
are very large. though not quite as
large as a year ago, but Atlantic ex-
ports. flour included, rose to 1894 1853
bushels for the week, against 2,175,453
bushels last year. The estimates which
command confidence still indicate
yield of 10000, 900 to $50. .000, 900 bushels.
winter wheat turning out so much be-
yond 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 spar
ed. 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 3,160,31s
bushels last year. and such a move
ment at this season. implies a great ex-
port demand not yet reflected in outgo.
Cotton speculation made August de-
liveries costly. spot rising to Sh cents,
but the market then drifted back quick
ly to 1852 cents. Conflicting news
doubtless reflects conflicting facts. but
the opinion gains that the crop Will be
large, II by lateness not exposed to Sc
rious injury. The mills are now run
ming and turning out great quantities
of goods in response to heavy purcha-
ses recently made.
The Improvement in the iron and
steel industry gains momentum, and n
further advance in prices makes as
per cent. from the lowest average, Au-
gust IL. The demand increases for
sheets and plates, especially for bridge
and ship building. including 10000 tons
at Philadelphia in structural 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
% cents. Bessemer at Pittsburg has
risen 10 cents and eastern markets are
stronger. The demand for 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
Company. Tin is slightly lower at 49,
65 cents. but heavy exports. said to COW
er 100000 pounds, for the next three
months, sustain copper at 17hc., and
lead is strong at 4.10c.
Failures for the last week have been
191 in the United States. against 1894
last year, and 25 against 81 in Canada.