The Washington times., 1901-09-08

| AT first glance it would seem that busi-
ness conditions were in most deplorable
| shape. for an increase of s.. .l3i 963 in to-
| tai commercial losses over the corre-
| spending month last year is no small mat
| ter. Yet, looking back. it is found that
| August. 1909. re ported the smallest fail
| ures of any month last year by about 81
| OO0,0o0: so that. in the first place. COM
parison is made with an excei tionally
this year was phenomenally strong. LA
biiitieS showing a decrease of S2735. .S42
compared with the same month last year
Hence, the quarter thus far exhibits a
decrease of over 5000 600 in defaulted liza
bilities as compared with 1890 to date.
1t was not surprising that mercantile
mortality increased in August. Two dis
tressing events in July upset the COM
mercial equilibrium. but the effects were
not felt until last month. Drought in the
Southwest did much damage to corn, but
more real harm was done by excited re-
ports and hasty cancellation of orders.
For a time there was almost a panic
among business men in that region, and
payments were delayed sufficiently to
cause more than ordinary Inconvenience.
Failures were enlarged to a greater ex-
tent by the steel strike. however. as con-
tracts for material could not be filed,
and operations partly completed were
prices of the products of which output
was abruptly curtailed caused losses
among builders. contractors, etc. General
stores. grocers, and other dealers in the
necessaries of life were forced to close
their doors as the strikers attempted to
push their credit. A general suspension
OF transportation on the Pacific Coast
through a strike of tea msters. grain and
frult handlers. and allied lines, ruined
many tons of perishable goods. While
none of these influences will permanently
check the Industrial progress of a natfen
so greatly blessed by natural resources
and capable men, vet the temporary in
terruption proved too much for concerns
operating on small capital or having lilr,-
ted credit "
The bargain hunters will watch the mar
ket closely at the opening and throughout
the day tomorrow. . There can be little.
doubt that there Will be ssnue heavy pur-
chases by outsiders If the break of yes
terday is extended. There are many diyi-
dend paying securities that will look par
ucularly attractive with a few Eoints
more off their price. Among these are
the Atchison securities. and especially to
the conservative investor the preferred
stock. As has been pointed out in this
column heretofore. the dividend of per
cent Is assured on this stock for a long
time to come. The earnings of the COM
pany are sufficient to pay this dividend
three times over if the present volume of
business is kept up. and there could be
very good margin of decrease allowed for
the short corn crop and a large surplus
over the preferred dividend remain. The
Atchisons dropped to 81 and 72h yester-
day
Union Pacific preferred stock is espe-
cially attractive to the ultra conserva-
tive, with an immense surplus earned
over both the preferred and common stock
dividends. The stock sold off to 81 yester-
day. The common broke to "a.
Among the coal securities there are 9TH
er bargains if the experts are right in
their conclusion that the coal trade is in
n most fiourishing condition and the earn
ings of the coal railways sure to show
large increases. The Southwestern stocks
are looked upon with favor by many be-
cause of good earnings and the prospect
of an early deal"
Much interest attaches to the outlook
for the Sugar Trust and its stock. Care
full people are inclined to take q hopeful
view regarding the latter. New stock is
to be issued and the proceeds are to be
expended in increasing the business in
Cuba in way that should prove profita-
BILE. The issue of new stock will be sold
to holders of stock at par and will give
a valuable right which should have Il
favorable influence on the price of the
rtnc in ha fttft