The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-04-02
FAILURES ARE FEW.
War Cloud Has Little Effect in
Checking Business.

New York, April 2.-R. G. Dun &
Co.'S Weekly Review of Trade says:
In spite of foreign conditions since
the destruction of the Maine, February
Is, failures in three months are smaller
than in the first quarter of any year
since 1886; the ratio of defaulted iabili-
ties to payments through clearing hous-
es has been the smallest for that quart
er since 1881; the average of liabilities
per firm in business has been the small
est since 1880, and the average of liabll-
tiles per failure has been lower than
ever before in any quarter. 1t is eS-
pecially significant that the failures for
less than 100000 without material de-
crease in number were 20 per cent small
Ter than last year in manufacturing and
"a per cent smaller in trading.
The war cloud, which many have in
ferred must have greatly increased
commercial disasters, does not appear
to have any such effect as yet, and
while there is some decline in the new
orders for industries, nearly all live
works are covered so far ahead that the
difference is not felt. Rates for money
have advanced and the per cent which
used to be the ruling rate in active
times again prevails. which eompels
many spectators to liQuidate. But the
imports of gold go far to prevent any
real anxiety. More over, although part
of the hypothecated exchange on Eur
ope has been sold, there is known TO pc
about $50 0O0, 900 more yet in the banks
at New York and $12,500,000 in other
cities. against which gold is liable to be
imported, because there is small pros
pect of any better settlement
The outgo of bread stuffs continues,
Atlantic exports being 2.516,220 bushels,
flour included, for the week, against p
1885, 1878 last year, and Pacific exports
$40, 147 bushels, against 13S,207 last year,
and for the past five weeks from both
coasts the exports have been 16,592, 917
bushels, against 8,226,256 last year.
Meanwhile corn exports have been for
the week 3,767 029 bushels, against A.
POI ,621 bushels last year.
All the speculative movements at the
west have been less influential than this
heavy and continued buying of grain.
and western receipts begin to fall off as
if supplies were no longer unlimited
Wheat has declined slightly, but corn
has advanced one-Quarter cent for the
week and no one iniagines that foreign
troubles can check the out 60
Cotton has advanced an eighth De
cause of the idea that the production
may be reduced, although receipts from
plantations thus far have been greater
by 800 900 bales than in 1895 from the
largest crop ever raised, and wnlle the
mills are now nearly all active, the
consumption does not exceed the max
imum.
The smallest sales of wool for many
years are reported at Boston, ana at
the three chief markets sales nave peen
only 1466, 500 pounds for the week ana
about a fifth of last years Tor the
quarter. The stocks held by manufac-
turers have evidently been mucn great
err than ANYBODY supposed, and they are
not buying after Several months OF
waiting nor showing any disposition
to buy, though nearly all their works
are running full
The iron and steel markets shows no
decrease, for with works fully employ
ed. and some additional works put into
operation for government purposes, pig