The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-07-09
FALLING OFF IN FAILURES.
HALF YEARLY RECORD MAKES ,
GOOD SHOWING.

Failures for the second Quarter o.:
the Year Smaller Than During a
7 Similar Period for Four NearS-Fi-
nanciHl Results for the Fiscal Yeur
shade Beyond Expectations
Commercial Disasters Not Incrcas-
ed by War.
New York, July S.-R. C. Dun & Co.'S
Weekly Review OF Trade will say 'to-mor.
row;
The usual haf-yearly statement of
failures by branches of business is pecu-
harly interesting because 1t shows thar
war and fears of war have not caused in
crease in commercial disasters
The surprisingly large and general de-
crease in trading defaults would without
doubt be accompanied by corresponding re-
turns as to manufacturing, but for excos.
sivo expansion in some lines and the help
less condidon. reached by a few largs
drms in ether branches.
Failures during the second quarter have
been smaller than in The same quarter
for the past four years in trading, ana
in manufacturing smaller than in the
same quarter Of any year excepting 1894
THE fiscal year has ended
with financial results shade
beyond the general expectations,
{ nd the new war tax begins to increase
the revenue, not seriously disturbing bust
ness ia any line. No reason yet appears
to apprenend that the war revenue win
fan below expectations.
Criticism of crop estimates is less need
full because all authorities agree that the
supplies for the coming year promise to
greatly exceed home requirements and
fun export demard, though for a month
or two yet Europe may require mucn
more than usual This viii help to sus,
tain the market. while the earlier receipts
are coming forward and prices viii then
be determined largely by the outlook for
crops abroad, which is moi yet entirely en-
couraging
wv heal has reflected but little the inn
proved prospect, advancing from 50 TO 80
cents for spot, regardless of the usual
stories Of injury. the current commercial
and the department reports being appar-
emily distrusted by the trade
The cotton crop looks better ard the
prospects is reflected in decline Of a six
tenth IN the spot price.
TIE manufacturing works at the north
are quite wei employed, much more than
usual during the vacation season, and the
demand for goods is somewhat improv-
ing. Abroad the state of manufacture
does not encourage hopes Of an extra
ordinary demand for the raw material,
while the stocks held by millers are known
TO be unusually large. The South is in
oreasing in manufacture rapidly and not
entirely i'm Place of Northern mills. There
is no dishcartenmen in other textile man
ufactures ana business is good and grow
ing in silks, bagging. hemp products and
linen.
THE manufacture of wool hesitates, all
though distinctly better demand has APP
peared during the past ten days, because
prices at which western wool is held are
too high for profitable manufacture.
1T is not enough to dismiss the iron tn
dustry with the bold statement that it Is
using up more iron, even at the lowest
point of the year than ever before. IL Is
getting bigger domestic contracts for agri-
cultural Implements and car materials and
also for structural work than in any pre-
Vious year but especially for plates, the
demand for which quite overruns the ca
pacity of all the works and not mainly on
government account.
Failures for the week have been 229 in
the United States against zoo last year, and
seventeen in Canada against so last year +"