Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-07-07
THE BUSINESS SITUATION.

r. g. Dun G. Co. g Review for this
week says that "the second quarter OF
the year closes with most encouraging
returns. Failures have been a little
larger than in the first quarter OF the
year, whereas decrease OF g. per cent
might have been expected from expert
ence OF thu past ten years, but with
that allowance difference OF only
So, 500, 0p0 can be charged to, war and
fears of war, whereas solvent payments
through clearing housas for the quarter
were over SIS, 600. 000, 600. In the very
best years defaults range from nm eighth
to fifth of one per cent of such Fay
monts. and in bad times from third to
half OF one per cent or more; but this
yenr the proportion is less than fifth.
The quarterly statement given to-day
showa IN aggregate of S34, 49S, 074, which
is smaller than in the second quarter Of
any year since 1890, except one, and the
average of liabilities defaulted to firms
in business and to exchanges through
clearing houses IL also smaller than in
any year except one of the past seven
years.
1.-THE exports of wheat continue ex-
traordinary. During the week they
hare been, -four included, 4,006, $50
bushels from Atlantic ports, against
1904, 173 Inst year. and Pacific exports,
4l6. 564, against l20 600 last year. This
maken for tha crop year, with some
minor ports yet to hear from, 2l7, ST1,-
960 bushels exported of wheat, -four
included, against 225, 665, 8l2 in 1892,
the year of largest previous expUrts. "
RradHtreet's, in its issue of to-day,
has few Important events to note. Pig
H. a..
the lessened activity in shading Of
prices. Doubts are expressed an to the
ability OF the pig iron makers to con-
troll production, and the next two weeks
will probably be full of interest to the
wheat market continues beariah, not
withdrawing that the worlds visible
supplies have decreased $4,000, 600
bushels in two weeks, and that the
probabilities are that visible stocks of
old wheat On August LIST will be az low,
il not lower, than last years, which
were the smallest on record for seven
| years. A heavy falling off in the con-
| dition Of the Kansas wheat crop is in
dictated. Rather less steadiness in prices
| is observable. most cereals, pork. lard,
| cotton and several makes of pig iron
being lower for the week, while the
| list OF advances 10 exceedingly small.
| Steadiness has been feature, however,
of raw wool, hides and heavy leather.
coffee, sugar. print cloths, copper and
lead. A large distribution of bleached
cottons at price concessions has been a
feature. ami the demand for flags aud
| fireworks this year ia conceded to be
| heavily in advance OF paat years.
"In spite Of unfavorahle features.
there were fewar failures. smaller
liabilities and, consequently, smaller
assets this year than in any previous
year for four years. Business failures
number G, 429, s per cent fewer than a
year ago, 10 lesa than in 1896, and only
3 per cent larger than in 1858. Liza
bilities, too. are smaller, aggregating
$72, 100, BAL. 90 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 1S93.'