The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-09-03
REPORTED IN FIVE YEARS
BUSINESS LARGER THAN IN
BEST OF PAST YEARS.
PROSPECTS OF MUCH FURTHER INCREASE
The Wheat Crop will be the Largest Ever Har-
vested--Wheat and Corn have Fallen
Some in Price Cotton has
Advanced a Sixteenth.
Advanced a Sixteenth.

New York, September 2.-R. G. Dun
Il Company's weekly review of trade will
say tomorrow:
The smallest failures ever recorded in
any month for five years were those
OF August. No other month since the
monthly reports were commenced by
Dun's review exclusively, has shown de-
faulted liabilities as small within 81,
100000, and the ratio of such defaults
to solvent business, represented by ex-
changes through all clearing houses. only
SlOS.l0 in 100000, is smaller by 26.5
per cent than i'll any previous month,
the cearings having been the largest
ever known in August and $50 per cent
larger than in 1892.
The enormous volume of business in
a month usually one of the most inactive
of the year demands attention. Post
ponement during the months of war of
some contracts and purchases which
have now come forward explains part
of the increase, and the strong ABSORB
ton of securities explains part, but there
has also been great decline in the
average of prices for all commodities,
so that it takes a much larger volume
of business in tons or bushels to make
up transactions amounting to million
more than in 1892. II is therefore
strictly true that businesses is larger
than III the very best OF all past years,
and yet there is every prospect of much
further increase
There is no reason to doubt that the
wheat crop, even though it may fall a
shade below some estimates, will prove
the largest ever harvested, and al
though Beerbohm estimates Europe crop
at 232,000.000 bushels more than the
last, that would be only about an aver
age yield, while other evidence is less4
favorable. Foreign buying has been
strong. so that Atlantic exports for the
week have been 3.326S7S bushels
against 1854. 75S last year. But receipts
at the West are increasing. and the
price has dropped five cents for spot,
though the September option is seven
eighths lower for the week Corn has
fallen a fraction, later reports indicat-
ing less satisfactory yield, and probably
not more than should be consumed at
home in charging the stock of animals.
The adyanceeof n sixteenth in cotton to
5.S1 has followed a little better milling
demand, with rather less favorable re-
pofiS VI pTODdDe IlpIu. DuJ the crop
is at the worst likely to exceed the
worlds needs. The New Orleans cotton
exchange makes the output for the past
year II. 199.994 bales. and Southern con
sumption, 1,192.G21 bales.
The improvement in the iron industry
has not only continued but becomes more
impressive because, after enormous buy
ing of materials has satisfied the needs
of great consumers for months to come,
the demand for product IS so great THAI
both materials and products gradually
advance in price.
The wooden mills have rather better
orders this week, but not enough as YET
to warrant running nearly full force,
with the price of wool held at the West
much above Eastern markers, and by
those markets about 1c higher than the
mills are bidding. In cotton manufac-
ture there is better demand with n six
teenth rise in print cloths. though brown
sheetings are shade lower. the de-
mand for other goods being still fairly
strong.
Failures for the week have been III
in the United States, aginst 19I last
year and % in Canada, against % last
year.