The Wilmington daily Republican., 1901-09-07
FAILURES OF AUGUST.
Poor Showing as Compared With
Same Month Last Year.
STATE OF METAL MARKET.
Actual Sales OF Many Iron and Steel
Products Recorded ut Material
Advances, While Big Demand
STRENGTHENS Prices.

New York. Sept. 6.-R. G. Dun n
Co.'S weekly review of trade says:
Commercial failures during the
month of August were SO3 In number
and $9.45S. SG6 in amount of liabilities.
In manufacturing there were l!s' de-
faults for $l.6ll $40: in trading 30.
owing S4.174107, and in other lines not
properly included above and exclusive
of banks there were :,5 failures. for
S672,s94 Compared with the same
month last year the statement is most
unsatisfactory. as failures were then
only 735 in number and $7,323,9O3 in
amount.
Mitigating circumstances must not
be overlooked. huwever, and the fact
that August was the best month IN
1900 by nearly S2OOO,OoO of liabilities
makes the comparison less odiols.
Moreover. the drought and strikes in
July unsettled conditions among many
small traders with little credit. and
also seriously retarded building opera
tions at a stage when losses could not
be avoided. The effects were not fully
telt until August. and If the two
months share the burden together it Is
found that liabilities were $GoOWlp
smaller this year than in the same
months of 1900.
The Cereal Market.
Actual sales of many iron and steel
products are recorded at material adj
yances. and the tone throughout is
hardened by vigorous demand. There
is much difficulty in naming represent
htive ,lliOtations. as on rush orders fan
cy premiums are charged. On moder-
ately prompt deliveries the advance is
less sharp. while contracts for distant
dates are generally taken at the figures
prevailing before the strike began.
business is especially brisk in steel
rails, Il large tonnage for next year
having already been placed. and there
is reason to loci, for a greater aggre-
cate in 1907 than in any previous year.
Rather easier terms are possible III pig
irolh and the coke output is unfavOrh-
lly affected hut otherwise this indus.
| Try has suffered no permanent injury.
| Although unsettled in tone, little al
| tcraton occurred in the principal CO.
reals. Trading was restricted, and
| there was an apparent disinclinatiUn to
| assume an aggressive stand on either
| side of the market. Wheat was sup
| ported by exports from the United
| States Of 3s9l ,IS9 bushels against
| g-,uG,}S,i in the same week last year
| and 3.l0S..3HG in lS.1 On the other
| hand. the movement is much lighter
! than in recent preceding weeks, ana
each day makes it more certain that
the current yh'ld will far surpass any
pre-, iuliS crop in tit" cnuntry's history.
| Interior receipts since july exceed
those of the two preceding years to
date by Il large margin. domestic mill
ing is heavy. the only interruption be-
ing for repairs to machinery.
Corn is held about 70 cents higher
than the average price of the two t.t-
yulls years at this date. Even if the
Weld is extensively reduced, there is
little reason for phenomenal prices in
western receipts of 3.5}s,3J3 bushels
Against g.HS1..26 last year or Atlantic
experts Of GHl ..,,f bushels. compared
with 2T12.o7o in the same week of 1900
and 3.O1l ..f;o in lS!G.
Placing of sample orders for spring
foot wear is Of such character as to in
dicatc n healthy market. and some job
hrrS are 50 anxious for early delivery
that contracts are being closed now.
Supplementary buying of fall and win
ter lines is also of satisfactory volume.
Sole leather continues exceptionally
firm no, only on domestic demand, but
also through exports,
Coates Bros. average of 100 wool
quotations rose slightly to lI.22 cents
but still appears very low compared
with the level Il year ago which was
1873 per cent higher. Better inquiry
from mills gives encouragement for the
future. and it Is thought that higher
prices will be paid at the London auc'
tion sale ten days hence. Despite
more activity in the market for cotton
goods and placing Of government con
tracts. the staple shows no great
strength.