Condon globe. (Condon, Gilliam Co., Or.) 189?-1919, 1898-09-08

ALL RECORDS BROKEN.


for August.
New York, Sept. 5.--R. q. Dun ID
Go. g weekly review Of trade says: The
smallest failures ever recorded In any
month for five years were those of
August No other month since the
monthly reports were commenced bv
Dnn's review, exclusively, has shown
defaulted liabilities as small, within
VI 900, 900, and the ratio oil such do.
faults to solvent business, represented
by exchanges through all clearing
houses, only si0S.70 in 800, 900, IL
smaller by 1855 per cent than in any
previous month. The clearings rave
been the largest ever known in August.
and 1870 per oent larger than In 1899.
The enormous volume Of business In
a month usually one Of the most in
active OF the year. demands attention.
Postponement during the months Of
war Of some contracts and purchases
which have not come forward explains
pait OF the increase, and the strong
absorption Of securities explains part,
but there has also been a great decline
in the average OF prices Of all COM
modities, SO that it takes much larger
yolurle OF business in tons or bushels
TO make up transactions amounting to
a million more than in 1899. Ii Is.
therefore, strictly true that business il
larger than in the very best OF all past
years. and yet there ia every prospect
OF much further increase.
There is no room to doubt that the
wheat crop, even though 1t may fall
shade below some estimates. will prove
the largest ever harvested, and al
though BeeTbohm estimates Europe's
crop at 232, 600, 900 bushels more than
the last year, that would be only about
an average yield. while other evidence
is less favorable. Foreign buying has
been strong, Atlantic exports for the
week having been 3,328,S78 bushels,
against 5,6S4,757 bushels last year.
and Pacific exports 45S, ,S81 bushels,
against 258, ,65i bushels last year. But
receipts at the West are increasing,
and the price has dropped cents for
spot, though the September option ID
7-6c lower for the week.
The improvement in the iron indus.
try has not only continued, but be.
comes more impressive because enOr-
nous business sales have satisfied the
needs Of great consumers for months
to come, the demand for products Is SO
great that both materials and products
gradually advance in price.
Bessemer pig has arisen to $40. 56 at
PittsbuIg; local coke at Chicago, and
anthracite foundry at the East, are
strong. and also bars and plates adj
vanced share, with most structural
and plate mills filed with orders for
months to come. and 25,00O tons Of
rails sold at Chicago for delivery next
year. The advance in tin plates, In
spite of production far greater than
was thought possible not long ago, is
evidence that the consumption Of steel
in that branch will be heavy. The
wire-nail works also report better de-
mand, and the output Of Connellsville
coke has started up, gaining 10, 600
tons for the week.
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 mar
kets, and by those markets above 1c
higher than the mills are bidding.
Failures for the week have been It'll
in the United States, against 191 last
year. and 22 in Canada. against 25
last year.