The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-04-02
RECORD Of FAILURES
For the First Three Months
of This Year
LOWEST IN MANY YEARS
Business in General Has Been
All it Should Be.


row:
In spite of foreign conditions since the
destruction of the Maine. February 10,
failures IN three months are smaller than
in the first quarter of any year since
1856; the ratio of defaulted liabilities TO
payments through clearing houses has
been the smallest for that quarter since
1881: the average of liabilities per firm in
business has been the smallest since 1850,
and the average of liabilities per failure
mas been lower than ever before in any
quarter. 1t is especially significant that
the failures for less than 100000 without
material decrease in number, were % per
cent smaller than last year in mdnufac-
turing and "A per cent smaller in trading.
The war cloud, which many have in
ferred must have greatly increased com
mercidI disasters, does not appear TO have
any such effect as yet, and while there
is some decline in the new orders for in
dustries, nearly all live works are COW
cred SO far ahead that the difference is not
felt. Rates for money have advanced and
the per cent which used to be the ruling
cOmpels many spectators to Hquidate.
But the imports Of gold go far TO pre-
vent any national anxiety. Moreover, al
though part ofthe hypothetical exchange
on Europe has been sold and ordered
against it. there is known 10 be about $50. :
100000 more yet in the banks at New York
and 81, 800 900 in other cities, against which
gold is liable to be imported, because there
IS small prospect Of any betted settle
ment The outgo Of bread stuns contin-
ues, Atlantic exports being 2,5l6,220 bush
els, flour included, for the week, against
2,1S5.37S bushels last year, and Pacific ex-
ports 542.l47 bushels, against 1875, 207 bush
els last year, and for the past FIVE weeks
from both coasts the exports have been
l6.592,917 bushels, against S,226, 256 bush
els last year. Meanwhile corn exports
have been for the week 3,76TO29 bushels,
against 4,291, 621 bushels las year. All the
speculative movements at the west have
been less influential than this heavy and
continued buying Of grain, and western
receipts begin to fall off as if supplies
were no longer unlimited. Wheat has
declined slightly, but corn has advanced
one-quarter cent for the week, and no one
imagines that foreign troubles can check
ne outgo. Cotton has advanced an eighth
because of the idea that the production
may be reduced, although receipts from
plantations thus far have been greater by
100000 bales than in 1895 from the largest
crop ever raised. and while the mills are
now nearly all active, the consumption
does not exceed the maximum. The
smallest sales of wool for many years are
reported at Boston. and at the three chief
markets sales have been only J. 466. 500
pounds for the week, and about a fifth
Of last year. The stocks held by man
ufacturers have evidently been much
greater than anybody supposed, and they
are not yet buying, after several months
of waiting, nor showing any disposition
70 buy, though nearly all their works are
running full. The iron and steel market
shows no decrease. for with works fully
employed and some additional works put
into operation for government purposes,
pig is ont lower anywhere, and aht Pitts
burg a shade higher for Bessemer, be-
cause of agreement by valley producers
while without agreement of Mesaba
mines the purchases of ore at Cleveland
were over a million tons for the week.
Billets are still scarce and sheet bars
In demand though wire rods are lower.
and wire nails are weaker, in spite of
the perfect combination of workers Other
prices for manufactured products are I'M
chaonged. hough rails are a shade srOng-
er, with Russian order pending for 5000
tons TO complete the Pacific railway, and
plates are in very heavy demand. 5000
for cars and 1900 for other uses at Pitts
burg. with 10000 tons more originating at
Chicago and structural orders cover 400
tons for buildings at the east, with 1000
tons more at Pittsburg, and many at Chi
cago.
Failures for the week have been go in
The United States, against go last year,
and p in Canada. against - last year.
BRADSTREETS
New York. April 1-Bradstreets to-
morrow. April ., will say:
A week of rather quieter general trad
ng and of smaller distribution, due 10
easily explainable causes. closes n quar-
Ter which has been eminently satisfactory
10 nearly all branches of trade and pro-
auctive of an unprecedented business in
demand for our products, particularly ag-
ricultural staples, and the active domes-
bic movement in most lines, are evidenced
BY the heavily increased bank Clearinss
reported for the quarter, and the effect
on the commercial mortality is favorahly
reflected in a total. for the first three
months OF 1898 OF failures and liabilities
involved. smaller than in the correspond
Ing period for -FOUR years past Current
demand and distribution al the east have /
been interfered with by the uncertainties
growing out Of our unsettled foreign rela- (
lions This has been particularly mani /
Test in more pronounced indisposiJion on
the part of buyers to anticipate future
wants, and some cancellations Of orders /
for wooden goods are attributed directly
10 this cause. Evidence is not lacking, (
however that the stimulation 10 The wool /
changes last year is responsible in some /
measure for the unresdtness OF manufac- /
turers to go ahead as confidently now as
they did a year ago. Little or no i'm /
provement is found in the coarse cotton /
goods trade. and print cloths have marked /
q new low record in quotations Of 2I-I6 /
cents for regular goods The anthracite 4
coal trade is suffering from the usual (
spring complaint, business in inactive and +
prices are weak There is q rather more /
quiet condition as regards new demand for
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