Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-10-13

r.. G. Dun q, Co. IS Review for this
week says: 1.-THE final returns Of fail
ures for the third quarter of 1898 con-
siderably exceed last weeks estimate,
numbering in all 1856, with liabilities
of s32, Cos, 214, and of commercial fail
ures only 2,540, with liabilities of
1926, 104,7T Comparisons given today
show that the failures have been
smaller than in any other quarter since
1892, both in amount, in average per
failure and in defaults per firm in bust
ness. The ratio of defaulted liabili
ties to solvent payments through clear
inghouses was only $1.56 per 81, 600,
excepting in 1892, the smallest ratio
since 1882, when the modes of report
ing were essetially different. Although
railroad stocks have somewhat adj
vanced, the gain has not corresponded
with the very creditable returns OF
earnings for, the month of September,
showing on roads thus far reporting
$34, 100, 2S5, gain Of 5.3 per cent over
last year, and 81 per cent over 1892.
For nine months of this year the re-
turns thus far received amount to
$3.50, 1913, SIG, a net gain of 81 per cent
over last year, and 2.5 per cent over
1892, about 1852, 153 miles of railroad
being covered. The tonnage for the
past four weeks from Chicago east
bound has been only 217, 635, against
234, 179 last year and 259, SOC in 1892
But the st. Louis and indianapolis
roads have largely increased their ton
mage, SO that, with Chicago included,
the aggregate shipments eastward
amount to 487, 621 tons, against 474, $40
for the same weeks last year. There is
Mi ha n
returns, showing, for the past five
weeks an excess over imports amount
ing to SOL, 600, 600 or more, make it i'm
possible for foreign holders to unload
such stocks as they may have here to
the disadvantage of this market. The
demand for deferred sterling exchange,
SO important in the market year ago,
again appears, and indicates renewed
disposition to lend to European
bankers"
Bradstreet's says that with the
exception of some parts of the South,
whore heavy storms and yellow fever
with resulting quarantines check dis
| tribution, very large business appears
to be doing, though complaints of mar
row margins of profit are we'll nigh
unanimous. While the bank clearings
of September point to slightly
smaller business done the country over
than one year ago, this weeks figures
point to a fair gain over last year, and,
therefore, over all previous records for
this week of theye The volume Of
distribution, as a whole, is well up to
or above that reported a year ago in
most sections, and, therefore, far in
advance of recently preceding annual
| periods. As for some time past, most
activity is perceptible in the West and
| Northwest and on the Pacific coast,
particularly at Puget Sound and Co.
| lumbia; River points. 1t has been a
carnival and fall celebration period at
number of Western cities this week,
and resulting large distribution both
retail and wholesale is reported. I'm
reasonably warm weather is credited
with checking the retail and wholesale
demand for heavy winter goods, par
ticularly clothing and shoes, but cooler
weather since has impaired better
tone to this business Accompanying the
increased movement in wheat this week
have come some rather better advices
as to collections, particularly in the
spring wheat sections. At leading
Eastern markets recently favorable re-
ports are fully maintained, with bust
ness in textiles, particularly cotton and
wooden goods, least favorably situated.
Signs are not wanting that the spread
of yellow fever in some sections of the
South, with resulting guarantees, has
sharply checked trade in the lower
Mississippi Valley, while heavy storms
on the South Atlantic coast have oper.
ated to arrest distribution and reduced
the rice crop. The general industrial
situation is a very favorable one.
Marked activity continues to be feat.
ure of the iron and steel trades, but the
immense rate Of production at present,
in the absence Of immediate new de
mands, has caused a shading of somt
few grades Of pig iron and steel billets.
The situation as TO prices generally is
one of sustained strength, wheat being
prominent in this respect, while the
most important reduction is that grow
ing out Of the refined sugar war. Bust.
ness failures are still down to mini
mum, numbering 1863 for the week
against l66 last week, 237 in this wcel
year ago, POI in 1896, 274 in 1895 anc
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