The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1898-07-07
GIVES ENCOURAGEMENT.
business Situation Shows a Healthy
Condition in Almost All IN
Lines ,-'T

New York, July 2-R G.. Dun & Co. =
weekly review of trade says: 1.-THE second
quarter of the year closes with most en-
couraging returns. Failures have been a
little larger than In the first quarter O
the year, whereas decrease of 6.2 per cent.
might have been expected from experience
OF the past ten years, but with that allow
ance difference OF only $500, 900 can be
charged to war and fears Of war, whereas
solvent payments through clearing houses
for the quarter were over SIS, GOO, 0OO, 900. In
the very best years default ranges from
an eighth to a fifth of one per cent. of such
payments. and in bad times from a third to
half of one per cent. or more, but this
year the proportion Is less than fifth.
the quarterly statement shows an aggre-
gate of $S4, ,074, which Is smaller than in
the second quarter of any year since 1890,
except one, and the average Of liabilities,
default of firms in business and to ex-
changes through clearing houses, is also
smaller than in any year. except one. Of the
past seven years.
THE exports Of wheat continue ex-
traordinary During the week they have
been, -four included, 4,60O,S9O bushels from
Atlantic ports. against 2,O64,178 last year,
and Pacific exports 416,564, against 12O, 900
last year. This makes for the crop year,
with some minor ports yet to hear from,
217,S71,960 bushels exported of wheat, flour
of largest previous exports, but at the
same time I'll. 452.25S bushels of corn have
gone out, against 76.602,285 bushels in that
year, and 17S,S17,417 last year, which was
much the largest on record. The market
has been little weaker, as is natural with
abundant evidence of an enormous yield,
Notwithstanding all reports of injury, but
cash wheat has advanced to IS cents Corn
has declined a fraction. although the de-
mand for export is still beyond all prece-
dent, and cotton is an eighth lower at 625
cents, owing to favorable reports as to the
growing crop.
at is judged by experts that about 30
per cent OF the cotton mandatory ma
chinery Is now employed, and yet the de-
mand for goods is Strengthening. The
heavy stocks carried abroad indicate less
than the usual demand for goods there, as
DO the shipment from Great Britain. The
demand for wool has been almost wholly
confined to needs for orders in hand, and
yet there is good reason to look for a better
demand for goods as soon as the new sea-
son has opened, while the government con-
tracts more than the usual proportion Of
machinery is employed, even at this dull
season.
Failures for the week have been 254 in
the United States, against 241 last year.
and Is in Canada, against 30 last year.
Bradstreet's says: I'm a period as usual
oeVoteu largely 10 STOCK taxing, ana WIN
holiday and midsummer influence making
for narrow and restricted trade, there Is
little that is novel to be found regarding
current distribution. The first half of the
year closes with very satisfactory show
ing possible in many lines Of trade, as evil
uenced by the returns of bank clearances,
railroad earnings. reports as to the con-
sumptive and distributive demands, and
last, but not least, by that infallible barom-
eter of the mercantile world. business fall
ures. Harbingers Of the future also found
in the generally favorable crop prospects,
not only Of cereals. but of cotton, fruits
and most products of agriculture and con-
tinued heavy foreign demand for American
products