The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1898-07-02
FINANCE and TRADE
The Leading Mercantile Agencies
on the Business Outlook.
DESPITE INCREASED FAILURES


Shutdown OF Many Industries Ma,
Not Occur at All.
New York. July 2.-R. G. Dun & CO..
weekly review of trade says: The sec
ond quarter Of the year closes with
most encouraging returns. Failure!
have been q little larger than in tht
first quarter of the year. whereas de.
crease of 6.2 per cent might have been
expected from experience of the past ten
years. but with that allowance a differ.
ence of only $3.5O0.00o can be charged to
war and fears of war, whereas solvent
payments through clearing houses for
the quarter were over SIS, 600. 600, 900. In
the very best years defaults range from
an eigth to fifth of per cent of such
payments, and In bad times from a
third to half of per cent or more but
this year the proportion Is less than a
fifth The quarterly statement shows
an aggregate of s34.4sS,O74. which Is
smaller than in the second quarter of
any year since 1890, except one, and the
average of liabilities defaulted to firms
in business and to exchanges through
clearing houses is also smaller than in
any year except one of the past seven
years.
The exports of wheat continue extra
ordinary. During the week they have
been, -four included 4.0Os,s9O bushels
from Atlantic ports. against 2,O64, 4,173
last year, and Pacific exports 416,564,
against 100000 last year. This makes
for the crop year. with some minor
ports yet to hear from. 2l7,S71, $3.50 BUSH
els exported Of wheat. flour included,
against 225;665,s12 in 1892. the year of
largest previous exports, but at the
same time 2l1. ,253 bushels of corn
have gone out, against 76.G02,2s5 BUSH
els In that year. and 17S8l7.417 last
year, which was much the largest on
record.
1t Is judged by experts that about 90
per cent of the cotton manufacturing
machinery is now employed. and yet |
the demand for goods is strengthening.
The heavy stocks carried abroad in
dlcate less than the usual demand for
goods there, as do the shipments from
Great Britain. The demand for wool
has been almost wholly confined to
needs for orders in hand, yet there Is
good reason to look for better de-
mand for goods as soon as the new
season has opened, while with govern
ment contracts more than the usual
of machinery Is employed,
even at this dull season. Sales Of wool
have been only 3.011,200 pounds for the
week at the three chief markets, and
FOR the month 1O,193.3O0 pounds.
against 41.197.000 year ago, and 29,-
$4,000 in 1892. The decrease in sales
since the elimination of speculation in
February has been most remarkable.
The iron industry shows some de-
slime in prices. though the demand for I
implement and car material is still be-
1ond all precedent, and in general it
nay be said that the market west of
Is remarkably strong. with
any Indication Of decline in !
he demand for finished products.
Minor metals arc quiet. Tin plates are {
| shade weaker at $3.50 for full weight $
american, the corresponding foreign ,"
,rades growing somewhat stronger.
Bradstreet's review says: In a 1
,eriod, as usual, devoted largely to
took taking and with holiday and mid
ummer influences making for q mar
low and restricted trade. there Is little I
hat is novel to be found regarding cur 9
ent distribution. The first half of the i
ear closes with very satisfactory !
howing possible in many lines of s
rade, as evidenced by the returns of
ank clearings, railroad earnings, re- +
orts as to the consumptive and dis :
ributive demands, and last, but not ,
east, by that infallible barometer of .
ne mercantile world. business failures. :,
[arbngers of the future are found in
enerally favorable crop prospects, not s
My Of cereals. but of cotton. fruits and
lost products of agriculture, and t
ontinued heavy foreign demand for y
merican products. =
Few important events are chroncled n
lis week in the business world. The Il
shutdown of many indus r
'ial concerns. particularly those in s.
on and steel and glass, and some "
lie manufacturing concerns. has been 7,
to occur in the first week AN
July. but this has been without m
uch effect upon the prices of those n
aples Advices from the west, indeed, tn
ad to the belief that this shutdown, va
some cases, may not occur at all o.
lis year, while in others the time de- ~ u.
tied to repairs and stock taking will M
considerably abridged. w