The times. [volume] (Washington [D.C.]) 1897-1901, 1900-09-01
DUNs REVIEW OF TRADE.
Comparatively Small Commercial
Liabilities for August.


| NEW YORK. Aug. S1.-R. C. Dun G Col
weekly review of trade tomorrow will say;
Commercial failures during August were
| 1875 in number. with liabilities of s7,s23. 903
| Manufacturing were ia. for s2.945. 60T
trading, 519. for SO, SIS, 667; and other com
mercial. AZ, for 1872, $50. There were only
two banks. with liabilities of S146. co., Thi.
| is the best monthly statement for 1906
thus far. but shows an increase over the
corresponding month in the two preceding
years. A fair comparison would be with
the same month of 1896, however. when
the country was suffering from anxiety at
tending the Presidential campaign.
"In August 1896. commercial failures
were 1,107 in number and SIS 00S. 637 in
amount. while banking defaults were also
enormous Much better conditions now
prevail and greater confidence is shown
except in few branches OF business. Be
fore the last two years Of great prosperity
but one month is found since 1898 with
smaller commercial liabilities than August,
300.
Steel mills in the Cumberland district
and some in Indiana have shut down,
throwing out many hands, but part OF
these will be transferred to other depart
ments of the new crucble steel company.
and hope is expressed of an adjustment
with the anthracite coal miners.
Another important influence of the
week has been favorable weather for de-
yelopment OF corn over the greater part
Of the surplus corn States. though heavy
rains in the spring wheat region have re-
tarded harvesting. The cotton movement
is SLOW but conditions average better ex-
cept in the Carolinas. Price changes are
small.
Monetary conditions seem sound. but
demand for commercial loans is small for
the season. Currency movements brought
the banks s1.50O.OOO more than they
shipped South, and at New York the Sub
Treasury was a constant debtor at the
clearing house.
ANY rise in exchange will be short
lived. for the market is now buying COM
mereia bills for later delivery and there
is no apparent check to foreign trade i'm
provement. Exports at New York for the
fourth week of August were s13 1S5. $50,
making si2. iSl, 916 for the month. an in
crease OF 45.1 per cent over last year. I'M
ports increased ca per cent. In seven
months for the whole country net exports
of iron and steel were 500, 293, 314. an in
crease Of $50 per cent.
''S. eady improvement is seen in the iron
market. It is not marked by large adj
vances. but wherever a change occurs 1t
is in the right direction. II is claimed by
some authorities that orders currently
booked aggregate NOR than present pro-
duction and shipments.
There is general quiet at both cotton
and wooden mills. The only manufacturers
showing any interest in wool at Boston are
those with Government contracts that
must be filled promptly. Prices Of wool
are unchanged and Western holders have
not lost any Of their confidence
Stocks have been inactive compared with
the records of last summer, but more in
terest is gradually appearing The ten
dency of prices most of the week was a
little better, in spite of sales by foreigners
of about 5000 shares. Our market has
taken its cue each morning from prices
cabled from London. though operators re-
turning say that the holdings of our stocks
abroad are so small that iobbers can sell
dom be found to quote prices on hundred
share lots.
Failures for the week were 175 in the
United States, against 14f last year, and
10 in Canada, against 25 last year"