Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-10-19
THE BUSINESS SITUATION.

BradStreet S, IN Saturday ISSUE, says
"Trado activity is widespread, all
measures of volume and value testify
ing TO prevailing prosperous conditions.
Only good report. arc received from
distributive trade centors. and some
markets report fall demand as holding
out longer than expected. Railroad
earnings, bank clearings' returns and
quotations OF staple prices are all en-
couraging, pointing. as they do, to a
maximum volume of business for this
period of the year. Crop returns for
October bear out earlier impressions of
shortened yields Of most leading
agricultural products. Expectation of
more moderate yields of leading cereals
is confined to this country. The worlds
wheat crop will admittedly be smaller,
and rye, barley and oats yields are not
expected to be SO large 40 year ago.
The higher range of prices OF all
staples, and particularly of agricultural
products, however, will furnish
profitable balance to producers. Inc
advance in the price of Gotten has
| been notable one, and though some
reaction is naturally noted, the effects
upon general Southern trade and in
dustry, of the great advance are par
ticularly beneficial, as this section
alone has appeared to lag somewhat
behind the procession of prosperity.
r. g. Dun q Co. g Review says:
"The report OF failures by branches OF
business in the third quarter in 1899 is
highly encouraging. Though closer
money after long continued ease
usually brings many and larger
failures, no weak spots vert disclosed
in manufacturing or exchange OF
| ,,,, uvt, MIR pf i'll
fortune unless in some Western real
estate operations. The large failures
were SO scattered as to Indicate no
trouble in any manufacturing or
trading branch, a fact of especial i'm
portance on account of recent extensive
combinations. The small failures were
both fewer and in average of Liabilities
smaller than in any other year covered
by the record. The quarters returns
we're smaller than in any other quarter
of eighteen years excepting the second
of this year and one of 1882, and in
character especially encouraging. In
dustrial conditions could hardly be
better. After many months sof such
extraordinary buying that its con-
tinuance seumed impossible, even
larger buying still crowds producing
works in most lines beyond their
capacity.
Wheat exports are still larger than
for the great crop of last year. At
lantic, flour included, having been
7,35l, 800 bushels in two weeks, against
GIG, $50 last year, and Pacific 73O, 44s
J bushels, against 1875, 034 last year. y
The unsettling effect of war has of
set the good effect of easier conditions
in the money market. The phe-
nomenon is presented OF prices oil
] stocks declining when money is grow
ing steadily castor, although com
paratively firm under severer con.
J ditious The decline in money rates
: this week has been due in part to the
! sentimental effect of Secretary Gage's
unprecedented order anticipating tht
! interest on the government bonds fol-
! the entire fiscal year. Opinions differ
as to how much money this order viii
release. At most the outward flow viii
be slow. The shipments of currency t.
the interior have fallen of this week
: although still quite large. 1t is un
Lcertain whether the banks have
suffered not loss of cash. 1t il
, probable that the bank statement to
a morrow will show a contraction Q
n loans and deposits. The banks haven
r.j much OF margin on which to draw
Il for the surplus reserve last Saturda.
: was only S6i3,000. While rates hay
It become much easier, it is realized tina
Y the situation is still unsettled, am
a that there is danger of anothe
period of extreme stringency. Gal
Q rates, however, ruled at 31aa5 per cent
n aud time money is offered more freely