The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1897-09-04
FINANCE AND TRADE
Statistics Of Failures Show Enoour-
aging Business Conditions,
IMPROVEMENT WE'LL BALANCED.

Heavy Renl Estate and Building Trans
actions, Extraordinary Grain Move
ments and Increased Business I'm Iron
Made the Busiest August known.
New York, Sept. Ar. G. Dun & Co.'S
weekly review of trade says: Failures
in August were in number not II per
cent less than in August, 1896 but in
amount OF liabilities 70.S per cent
smaller. July and August show a
lower average of liabilities per failure
than has ever been known i'm any year,
or even in any quarter of the % years
r. G. Dun & Co. have kept quarterly
records. The improvement is also wen
distributed, extending to nearly every
important branch Of business, but in
clothing, 1ewelry and unclassihed trad
Ing only two months of the past AZ
have shown smaller failures, in gem
eral stores and furniture only three,
in groceries, hats and iron manufac-
ture only four, in hat and chemical
manufactures only five and in clothing
manufacture only six months of the
A. The ratio Of defaulted liabilities to
payments at clearing houses has been
smaller in July and August than in
any other month since early In 1888
August was the first month in which
the daily average of settlements
through clearing houses exceeded ma
terially that of the corresponding
month of 1892, the excess at the prin-
cipal cities being 1913 per cent.
Nor is this due, as might be sup
posed, to activity in stock speculation,
for the Stock Exchange clearing house
now disposes Of a very 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 specula-
! tive lines than 1t was then, and In
| textile goods phenomenally large
| though slackening this week, buyers
having nearly completed their initia
| purchases. With an extraordinary
movement in grain, heavy real estate
and building transactions and increas
ed business in iron products, the montl
was clearly the busiest August eve
known.
Wheat continued It's reaction unit
| It had fallen cents more, but thei
rose cents with the first revival o
foreign buying. Western receipts ar
very large, though not quite as larg
| as a year ago, but Atlantic exports
flour included, rose to 5,534, 1858 bushels
for the week, against 2175, ,453 last year
The estimates which command con
| fdence still indicate a yield of $4,000,
900 to $50 100000 bushels
Conflicting news doubtless reflects
conflicting facts, but the opinion gain
that the cotton crop will be large,
by lateness not exposed to serious in
Jury The mills are now running ant
turning out great quantities of good
In response to heavy purchases recent
ly made. Wool sells largely betweei
spectators, 16,56S5 500 pounds for tn
week Mills have been buying NOR
freely to replace the wool rapidly con
sumed, and the goods market has bee
so large and strong that they are en-
couraged to purchase even after ris
Of so per cent in a year.
The improvement in the iron an
steel industry gains momentum, and
? further advance in prices makes 4.5
a per cent from the lowest average Aus
12. The demand increases for sheet
and plates, especially for bridge an
S ship building.
Bradstreets review says: Previou
= activity in all lines of trade is main
tanned There is a better tone in de
mand from jobbers, and the volume
business in wool, leather, clothing, hat
groceries and light hardware has II
creased. There is a better request fc
wooden and cotton goods, jewelry an
rubber goods, and for boots and shoe
Some wholesale merchants at wester
centers report the largest volume
August trade on record. Last week
general and unprecedented expansio
of prices for staples is continued.
There are only 1913 business failure
reported throughout the United Stat'
this week, against 210 last year, 1886
the corresponding week one year ag
1874 two years ago, 2O7 three years ag
and as contrasted with 379 in the Ill
week cf 1898. There are 80 bushes
failures reported from Canada tn
n week Last week the total was
and a year ago It was 30.
Certainly you don't want to suffer with dy