The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-09-06
DUN & CO.'S WEEKLY REPORT.
August had the Smallest Number Of
Failures Reported i'll Five Years.

New York, September 2-R. G. Dun
& Company's weekly review of trade will
say tomorrow:
The smallest failures ever recorded in
any month for five years We're those
Of August. No other month since the
monthly reports We're commenced by
Dnn'S review exclusively. has shown de
faultcd liabilities as small within 81
000. 0O0, and the ratio Of such defaults
to solvent business. represented by eN-
changes through all clearing houses, only
$1OS.1O in 100000. is smaller by 26.o
per cent than in any previous month.
the clearingS having been the largest
ever known in August and 80 per cent
larger than III 1892
The enormous volume Of business in
a month usually one Of the most inactive
Of the year demands attention. Post
poncment 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 ali commodities,
so hat it takes Il much larger volume
Of business III tons or bushels to make
| up transactions amounting to Il million
| more than in 1892. 1t is therefore
strictly true that businesses is larger
than i'll the very best or 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 Il
shade below some estimates. will prove
the largest ever harvested. and al
though RcCrhOhm estimates Europe crop
1T 232,00O 600 bushels more than the
| last hat womb no only aho11t an nvnp-
age yield, while other evidence is lessH
favorable. Foreign buying has been
strong. 50 that Atlantic exports for the
week nave been 3.3326.S7S bushels.
against 3.33f.13S last year. But receipt
1T 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 Il fraction, later reports indicat-
ing less satisfactory yield. and probably
not more than should be consumed at
nom" III charging the stock Of animals.
The advance Of Il sixteenth in cotton to
'.S1 has followed Il little better milling
demand. with rather less favorable re
ports Of probable yield. but the crop
IS IT the worst likely to exceed the
worlds needs. The New Orleans cotton
exchange makes the output for the past
year l~1.l99.9o4 bales. and Southern con
sumption. 1.192.G21 bales.
Ihc 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 tina,
both materials and products gradually
advance in price.
The wooden mills have rather better
orders this week. but not enough as vet
to warrant running nearly full force.
with the price of wool held at the Wast
much above Eastern marHcrS. and biz
those markets about &c higher than The
mills are bidding. In cotton mannfac-
ture there IS better demand with i six
teenth rise III print cloths. though brown
SlleetlngS are 4 shade lower. the dc.
mand for other goods being still fairly
strong.
Failures for the week have been III
III the United States. aginst 19I last
year and 30 in Canada. against % last
year.
WEEKLY BANK STATEMENT
New York Sept. 2-T1le total hanl
clearln@s III the United States for III,
week were S1.269.3S1. 94S: per cent in
crease IA per cent. Exclusive of New
FORK. S43S,931 OIL; per cent increas,
nor cont