Lincoln County leader. [volume] (Toledo, Lincoln County, Or.) 1893-1987, 1898-09-09
ALL RECORDS BROKEN
'ank Clearings Largest Ever Know,
for August,

largest Ever Known
FOR August.
New York, Sept. Or. q Dnr g.
20. 8 weekly review of trade saws. Tho
smallest failures ever recorded in ony
month for five years were those Of
august. No other month since the
monthly reports were commenced bv
Dun's review, exclusively, has shown
nefaulted liabilities as small, within
81, 900, 600, and the ratio of such do.
faults to solvent business, represented
oy exchanges through all clearing.
houses, only $l08.70 in 500, 900, il
smaller by 26.5 per cent than in anv
previous month. The clearings have
oeen the largest ever known in August.
ana $50 per cent larger than in 1892.
Ihe enormous volume of business in
month usually one of the most in.
active of the year, demands attention
Postponement during the months Of
war OF some contracts and purchases
which have not come forward explains
part OF the increase, and the strong
absorption Of securities explains mart
but there has also been a great decline
IN the average of prices of all COM
moditles, so that it takes much larger
volume of business in tons or bushels
to make up transactions amounting to
million more than in 1899. 1t Is.
therefore, strictly true that business Is
larger 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 fall
shade below some estimates, will prove
the largest ever harvested, and al
though Beerbohm estimates Europe's
crop at 232, ,00O,O00 bushels more than
the last year, that would be only about
an average yield. while other evidence
is less favorable. Foreign buying has
been strong, Atlantic exports for the
week having been 3,S26,87S bushels,
against 5,594,757 bushels last year,
and Pacific exports 45S, 88l bushels,
against 25S, ,65l bushels last year. But
receipts at the West are increasing,
and the price has dropped . cents for
spot, though the September option is
7-6c lower for the week.
The improvement in the iron Indus
try has not only continued, but be.
comes more impressive because enor.
nous business sales have satisfied the
needs Of great consumers for months
to come, the demand for products is so
great that both materials and products
gradually advance in price.
Bessemer pig has arisen to $40. 55 at
PittsbuIg; local coke at Chicago, and
anthracite foundry at the East, are
strong, and also bars and plates ad-
vanced share, with most structural
and plate mills filled with orders for
months to come, and $4,000 tons OF
rails sold at Chicago for delivery next
year. The advance in tin plates, in
spite Of production far greater than
was thought possible not long ago, is
evidence that the consumption of steel
in that branch will be heavy. The
wire-nail works also report better de-
mand, and the output of Connellsville
coke has started up, gaining 10000
tons for the week.
The woolen 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 mar
kets, and by those markets above lc
higher than the mills are bidding.
Failures for the week have been I'll
in the United States, against l9l last
year, and % in Canada, against 20
last year.