The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-07-02
FAILURES GROWING FEWER.
SITUATION IN THE BUSINESS
WORLD SOUrD.

Failing OF OF Eight Per Cent. for
the Half Year as Compared With
the Same Period Last Year De-
cidedIy Good Showing in the Do
mfnion of Cannda-Few Important
Events ChrOnicIed During the
Week Just Closing.
New York, July 1.-Bradstreets to-mor-
row will say: in period as usual devoted
largely to stock taking and with holiday
and midsummer Influences making for
narrow and restricted trade, there is little
novel to be found regarding current dis
tributon. The first half of the year closes
With a very satisfactory showing possible
in many lines of trade as evidenced by the
returns of bank 'cleanrgs,s railroad earn
ings, reports as to the consumptive and
distribuive demands and last, but not
least, by that infallible barometer of the
mercantile world, business failures.
"FIarbingers of the future are found In
the generally favorable crop prospects, not
only of cereals, but of cotton, fruits and
most products of the soil and a continued
heavy demand for American products.
"tew important events are chronicled
this week in the business world. The semi
annual shut down of many industrial con
Germs, particularly those in iron and steel
and glass and some textiles manufacturing
concerns has been announced to occur in
the first week of July, but this has been
without much effect upon the prices of
these staples. Advices from the West, in
deed lead to the belief that this shut
4. t.,s ma rTt at a
this year, while in others the time devoted
to repairs and stock taking viii be con-
siderably abridged. The situation in iron
is a rather mixed one, most complaints
coming from the East. 1t. is significant,
however that the fall in ocean freight
rates has been credited with improving.
demand for Iron and steel for export, and
considerable orders have been already
booked.
1.-THE tone of the wheat market contin-
ues bearsh, Notwithstanding that the
worlds visible supplies have decreased 49,.
1000 bushels in two weeks, and that the
probabilities are that visible stocks of Old
wheat on Aug. l will be as low IL not
lower, than last years, which were the
smallest on record for seven years. A
heavy falling off in the condition OF Kan
sas wheat crop IS indicated.
Rather less steadiness in prices is OBJ
servable most cereals pork lard, cotton
I
for the week, while the list of advances is
! exceedingly small. Steadness have been
feature, however, of raw wool, hides and
heavy leather, coffee, sugar and print
cloths copper and lead.
"A large distribution Of bleached cot
tons at price concessions has been a fea-
ture, and the demand for flags and fire.
wor6s this year is conceded TO be heavily
I'm advance of past years.
Cereals still move abroad in quantities
| unprecedented for the time of year. Wheat
shipments for the week aggregate ATS 4l
| bushels as against g. 799 479 bushels last
week, and compared with 2,77S $40 bushels
in the week a year ago, 2,601 ,095 bushels in
| 1895. 2007,O31 bushels In 1896, and 1,SJ0200
| bushels in 1894. Corn exports show a de-
| crease from last week aggregating 2601 $50
bushels, against 1892, 321 bushels last week.
1923 43S bushels a year ago, 1885, GEL BUSH
! els in 1896 3S8 S63 bushels in 1895 and
| 539 100 bushels In 1894
I'm spite Of unfavorabe features there
! were fewer failures, smaller liabilities and
| consequently smaller assets this year than
! in any previous year for four years past.
| Business failures number 6429 8 per
| cent. fewer than a year ago, IS per cent.
| less than An 1896 and only per cent.
| larger than in 1893 Liabilities, too, are
| smaller aggregatng $72 120,3i1 p per
! cent. smaller than last year, 81 per cent.
smaller than In 1896 9.5 per cent smaller
| than in 1895, and 81 per cent. below those
! Of 1898.
| Business failures in the Dominion Of
| Canada for the six months Of the present
| year make a decidedly good showing.
! They number S13, involving S. 799, 643, a de-
| crease of "a per cent. in number and in
\ liabilities as compared with last year
| and making still better comparisons with
| earlier periods."t