The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-09-03
GREAT VOLUME OF BUSINESS.
DUN's REPORT SHOWS FEWER
FAILURES THAN FOR YEARS.

Clearing Business the Largest Ever
known in the Month of August
and $50 Per Cent. larger Than In
1892 - Foreign Buying of Wheat
Large, But Receipts Are Increas-
ing and a Drop of 5 Cents for Spot
Has acknowledgement In the
Iron Industry Continues - Better
Orders at wooden Mills.
New York, Sept. Pr. G. Dun & Co.'S
weekly review of trade will say tomorrow:
1.-THE smallest failures ever recorded In
any month for five years were those Of
August. No other month since the month
ly reports were commenced by Dun's re
view exclusively has shown defaulted LA
bilities so small within 81 100000, and the
ratio of such defaults to solvent business
represented by exchanges through all
clearing houses only $1OS.7O in 100000, is
smaller by 26.5 per cent. than in any previ-
GUS month, the clearings having been the
largest ever known in August and % per
cent. larger than in 1892.
"The enormous volume of business in a
month, usually one of the most inactive
ponement during the most OF war of some
contracts and purchases. which have now
come forward, explains part of the in
crease, and the strong absorption of secu-
rites explains part, but there has also
been a great decline in the average of
prices for all commodities, SO that it takes
a larger volume of business in tons or
bushels to make up transactions amount
ing to a million than in 1892.
1t is, therefore, strictly true that bust
ness is larger than in very best of all
past years, and yet there is every pros
pect of much further increase. There is
no room to doubt that the wheat crop
even though 1t, in all a shade below some
estimates, will prove the largest ever
harvested, and although Beerbohm esti-
mates Europe's crop at 100000 bushels
more than last year, that would be
only about an average yield, while other
evidence is less favorable. Foreign buying
has been strong, so that Atlantic exports
for the week have been 3,326S7s bushels,
against 25S,651 last year. But receipts at
the most are increasing and the price has
dropped s cents for spot, though the Sep
TENDER order Is seven-eighths lower for
the week. Corn has fallen fraction, later
reports indicating a less satisfactory yield
and probably should be consumed at home
in charging the stock of animals.
1.-The advance of a sixteenth in cotton
has followed little better milling de-
mand, with rather less favorable reports
of probable yield, but the crop is at the
worst likely to exceed the worlds needs
The New Orleans Cotton Exchange makes
the output for the past year II, 1893 1874 bales,
the Southern consumption 119262 bales
'"The Improvement in the iron industry
has not only continued. but becomes more
impressive because, after enormous buy
ing of material has satisfied the needs of
great consumers for months to come, the
demand for product Is so great that both
materials and products gradually advance
in price.
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 markets. and by those mar
kets about 1 cent higher than the mills
is better demand with sixteenth rise in
print cloths, though brown sheetings are
a shade lower the demand for other goods
being still fairly strong.
Failures for the week have been III
In the United States, against 1911 last year,
and % in Canada, against % last year."