The times. [volume] (Richmond, Va.) 1890-1903, 1898-09-03
TRADE LARGER
THANEVER KNOWN
The Volume of Business for the Month
of August Immense.
SMALLEST FAILURES RECORDED
The Wheat Crop is the Largest the
Country Has Ever Harvcstcd-Cot-
ton Has Advanced go Demand
Large for Iron and Steel.

NEW YORK. sept. 2-R. G. Dun &
Co. IS Weekly Review Of Trade Will say to-
morrow:
The smallest failures ever recorded IN
any month for five years were those
of August. no other month since the
monthly reports were commenced by
Dun's review exclusively has shown de-
faulted liabilities as small within 100000
,and the ratio Of such defaults TO solvent
business represented by exchanges
through all clearinghouse, only $ilNO
I'm 100000 IS smaller by 265 per cent than
I'm any previous month. the cleafinss
having been the largest ever known in
August, and . per cent. larger than in
1897
LARGEST EVER KNOWN.
The enormous volume OF business I'm
month usually one of the most inactive
OF the year. demands attention. Fost-
ponement during the months OF war oi
some contracts and purchases which nave
now come forward explains part IN inc
increase, and the strong absorption "l
securities explains part but tneie mas
also been q marked decline in the average
OF prices for an commodities so thal il
takes a much larger volume of business
I'm tons or bushels TO make up the trans
actions amounting 10 a million than lh
1892. 1t IS. therefore. strictly true tnal
business Is larger than the very best or
all past years. and yet there is every
prospect of much further increase.
WHEAT CROP IMMENSE
There is no room 20 doubt that the
wheat crop. even though it may ran
"a shade below some estimates, viii prove
the largest ever harvested, and although
Boorhomhm estimates crops ar 232V90D
bushels more than the last, that would
only be about am average. while other
evidence is less favorable Foreign buy
ing has been strong SD that Atlantic
exports for the week have been 5o-jNS
bushels against 553i75S last year. ana
Pacific exports As ssh bushels against
2586H bushels last year. But re-
ceipts at the West are INCREASING, ANA
the price has dropped five cents FOR spot
though the September option IS sclcn-
eighths lower for the week. Corn has
fallen fraction later reports indicating
q less satisfactory Yield and probably not
more than should Doe consumed at home ln
charging the stock Of animals.
THE COTTON CROP.
The advance Of % sixteenth in cotton
10 5S1 cents has followed a little better
milling demand with rather less favorable
reports OF probable lird, uui iNe crop
is at the worst likely to exceed the
worlds needs. The New orleans Cotton
Exchange makes the output for the past
year 1f1s9g9l bales. ana Southern COM
sumption 1192 6I bales
IRON AND STEEL.
The Improvement in ihe iron industry
has not only continued. hut become
moro impressive because. after enormous
buying Of materials has satisfied the
needs Of great consumers for months to
come. the demand for product is $50 great
that both materials and products grade
ually advance in price.
The w0ollou mills have rather better
orders this week. but NOT enough as get
TO warrant running nearly ful force
with the price OF wool held no the west
mitch above Eastern markets. ana hy
those markets about I cent higher than
the mills are bidding. ln cotton mauu-
facture there is better demand with
sixteenth rise 500 print cloths though
brown sheetines are shade lower Che
demand for other goods being stnl fairly
strong
Failures for tho week have been 1-l in
the United states. against 1-l last year,
and % in Canada against % last year.