Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1898-09-08
Ever Showed SO Small Bust
ness Failures for the Month
of August as 1898.
THE BUSINESS is LARGER
And Prospect of Still Further Increase
The Wheat Crop Will Break the Rec
ord -lmprovement In tho Iron
Trade More Marked Large
Shipments of Boots and shoes.

| New York, Sept. 2.-Dun's weekly re-
view of trade tomorrow will say:
| The smallest failures ever recorded in
any month for five years were those of
August. No other month since the month
| ~ reports were commenced by Dun's re-
| view exclusively has shown defauted liza
bilities as small within Si0Co,O0O and the
ratio of such defaults to solvent business
represented by exchanges, through all
clearing houses, only sl0S70 in 100000 is
smaller by 26.5 per cent than in any pre-
vious month, the cearings having been
the largest ever known in August and
$50 per cont larger than in 1892.
1t is strictly true that business is lar
ger than In the very best of all past
years, and yet there is every prospect of
much further increase
There is no room to doubt that the
wheat crop, even though it may fail IL
shade below some estimates, will prove
the largest ever harvested, and although
Beerbonm estimates E,urope's crop at 232,-
uo,WO bushels more than the last that
would be only about an average yield,
while other evidence Is less favorable.
Foreign buying mas been strong, so that
Atlantic exports for the week have been
6,326,SiS bushels against 5,534 75S last year,
and Pacific exports i5S,GS1 against 2jS6jl
last year. But receipts at the West are
increasing and the price has dropped five
cents for spot, though the September OPP
ton is seven-eighths lower for the week.
Corn has fallen fraction later reports
indicating less satisfactory yield.
The advance of a sixteenth in cotton to
5IM has followed a little better milling
demand 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, 1880 99t bales
and southern consumption was 1872 Cpl
bales.
The Improvement in the iron industry
has not only continued but becomes more
Impressive because after enormous buy
ing of materials has satisfied the needs
OF great consumers for months to come
the demand for products is so great that
both materials and products gradually add
vance in price Bessemer pig has risen to
$lo65 DIT Pittsburg, local coke at Chicago
ana anthracite foundry at the East are
strong, and also bars and plates advance
shade, with most structural and plate
mills filled with orders for months to come
ana q oop tons rails sold at Chicago for
delivery next year. The advance in the
plates in spite CT production far greater
than was thought possible not long ago
is evidence that consumption Of steel in
that branch will be heavy. The wire nail
works also report a better demand.
The shipment of boots and shoes from
the East in August have been larger than
hold off as much as they can. hoping for
lower prices, and dealers stocks are re.
ported low. But the opening of fall trade
is expected to hasten retail distribution
soon Leather is dun, without change in
prices, and hides at Chicago are a shade
weaker 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 markets about one cent higher
than the mills are bidding. In cotton |
manufacture there is better demand with !
18th rise in print cloths though brown !
sheetngs are shade lower the demand !
Tor other goods being still fairly strong
Failures for the week have been III in |
the United States, against 191 last year, |
and p in Canada against q last year.
BANK CLEARINGS.
New York, Sept. Bank clearings at
80 cities for the week ending September |
l. as telegraphed Bradstreet's, were as fol- |
lows:
Total for the United States, 81, 2e9 ISL, 94S; |
increase, In; total outside New York |
S,93lNl; increase. 15 totals for Domin- !
ion of Canada, s2l, S9l. 1877; decrease, IL.