Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-01-13
THE BUSINESS SITUATION.


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Bradstreet's. in review of business
for the past week, says: "The yenr
opens with tone OF quiet confidence
Eerrading nearly all branchos of bust
ness, with encouraging activity in the
iron trade, q resumption OF work by
many thousands OF industrial employees
ia the Western glass industry, a
largely reduced volume of business
failures as compared with correspond
ing periods in preceding years, and u
general outlook certainly mot inferior
to aly previous year at this time. Dis.
tributiye trade has naturally been
rather slow pending stock taking and
the return of ealesmen to the field.
While tine volume of distributiye bust
neas is no larger, industrial activity ID
a special feature unconfned to any one
section, hut specially notable in the
WnHt. Resumption Of work after Tho
holidays has been general and encour-
aging in that section. Autumn weather
in tho Northwest checks distribution
but collections are reported good. Wool
has onened up actively at some Eastern
markets., and lower priCes for cotton
goods have stimulated some demand.
Wage reductions at New England cot
ton mills have been very generally ac-
copied. The holidays have exercised
their expected effect on export trade in
leading Cereals. Wheat exports from
the United States and Canada for the
first week in January amount to
3,4S1, SIG bushels, against 8, 495, 900
bushels last week, 3, los, 600 bushels IN
this week year ago. and 3, All, 600
bushels in the corresponding week in
! 1896. A trifiing gain was shown in the
worlds visible supply Of wheat during
| the month OF December, 1897, due en-.
| tirely 10 an increase in visible stocks
| iu the United States east of the
Rockies, and attributable largely to the
squeeze of short sellers at Chicago dur
| ing that month attracting supplies
| from interior poins. The viaihle supply
of wheat in this country on January
lat, 1888, was G0,S3i. 000 bushels,
| 1000, 900 bushels smaller than year
| ago at this date and tho smallest Jauu-
airy stock reported in this country
since lS9l.''
Il. G. Dun & Co. IS Review gives this
summary of tho business situation :
In failures 1897 was not only the best
| year since 1892, but on the whole the
hest ever definitely known. With 13, 500
failures, IN number lii per cent less
than 1896, aud 1852, 5Sl.771 defaulted
liabilities, 81 per cent less than in
1896, tire years. bunKing failures
counted for S25, 2i9, 700. and tho com.
merclal failures were hut Is. 31l, with
liabilities of Sl5l, 1872, OIL, the average
per failure hsing only 81, 550, the
lowest ever known except in 1892. But
even in that year the failures during
the last half averaged liahilities of
| SIC, Az per failure, while in the last
| half of 1897 the average was only
50, 500. Railroad earnings reported in
December, including seventy roads
with third of tho entire mileage Of
the United States. were 10.6 per cent
larger than in 1896, and 4. per cent
larger than IN 1892, and east-bound
tonnage from Chicago in four weeks
was 3l3, 145, against 255, 0l5 in 1892. This
volume of business represented by
clearinghouse payments has been 81. 4
per cent larger than last year for Janu-
Rry thus far, and Az per cent larger
than in 1902, and banks state that COM
mercial defaults the first of the year
were smaller than for ten years or more.
There is marked increase in the buy.
ing of commercial paper by brokers,
though banks are as yet scarcely
enough relieved from obligations TO
exnsnd in that direction, but the last
Union Pacific payment was made with
out embarrassment, and the interior
movement resulted in net receipts of
81. 800, 0C0 here. With curront rates
3la per cent abroad and 81, por cent
here, deferred claims against foreign
bankers naturally increase, although
the amount of deferred exchange known
to be held as collateral remains about
$50, 600, 000 With exports from this
city about 3 per cent and imports about
16 per cent smaller than last year for
the opening week, balances in favor of
this country seem 10 be still on the 10
| prensa -