Click image to open full size in new tab
Article Text
FAILURES INCREASE More Business Embarrassments Than Last Week Showed. TRADE UNSTEADY AND EASY Some Sections Show a Fair Condition. Demand Alone Causes Mills To Produce Anything. New York, September 25.-Bradstreet's tomorrow will say: "In eastern jobbing circles the feeling is one of increased confidence. There is more doing in some staple lines, noticeably at the east, and at a few southern cities. In most other instances purchases continue for immediate wants only. There is little expectation of general revival in business prior to the election. "Throughout the central west and northwest, no material change is reported in general trade features. Exceptions are at Cincinnati and St. Louis, where the demand for staples is larger. "Savannah and Augusta report a marked increase in volume of business, both wholesale and retail, with satisfactory collections. Memphis and Galveston report moderate gains in demand and sales. Improvement is shown in various commercial and industrial lines at New York, Boston, Providence and Pittsburg. "The general higher tendency of prices of staples continues. The bank clearings gauge of the volume of business brings an expected decrease as compared with last week, the falling off amounting to more than 5 per cent, the total for six days ending September 24th, being $533,000,000. The decrease this week compared When the corresponding week in 1895 is 14 per cent. THE TOTAL NUMBER OF BUSINESS FAILURES THROUGHOUT THE UNITED STATES CONTINUES LARGE, 321 THIS WEEK, COMPARED WITH 315 LAST WEEK, AND 198 IN THE FOURTH WEEK OF SEPTEMBER, 1895. Loan and Trust Company Fails. Kansas City, Mo., September 25.-The International Loan and Trust Company, of Kansas City, with offices at Delaware street and Missouri avenue, filed a deed of trust in the recorder's office today for $96,297. The officers refused to talk about the company's condition. A similar deed was filed in Wyandotte county, Kansas. The deed of trust covers numerous tracts of real estate in Kansas City, farm lands in Texas and other states and a long list of notes and securities. It provides that the trust company is to have until December 1, 1896, in which to meet its obligations. Moore Bros. Trouble Fixed. Chicago, September 25.-At a meeting of brokers interested in Diamond Match and New York Biscuit stocks, held yesterday, the committee having the matter of settlement in charge was authorized to accept the pool's terms. Very little opposition was offered and the outlook seems favorable for an amicable adjustment of the difficulty at an early date The proposition made the pool was that It should put up from $150,000 to $175.000 capital and that Moore Bros. should have notes in sufficient amount to clear the transactions in Match at $200 and in Biscuit at $80. Big Flour Mills Shut Down. Cleveland, O., September 27 -The Broadway Flour Milling Company shut up shop and went out of business yesterday, and will liquidate its present indebtedness. Its plant, machinery and stock are now for sale. Three Failures in Defiance, Ohio. Defiance, O., September 7.-The Tiedman Furniture Company incorporated with a capital stock of $100,000, made an assignment yesterday. Two other failures followed that of the furniture company, although in no way connected with it. They were the M G. May Grocery Company, the stock being turned over to the Defiance Grocery Company to satisfy debts, and the Hotel Russell, which discontinued business last night. Little Rock, Ark., September 27.-The wholesale dry goods house of Wolf & Bros., the largest exclusively wholesale business of the kind in Arkansas, was closed by attachments last night. No statement of assets and liabilities. Topeka, Kas,, September 27.-Two bank failures were reported to the state bank commissioner yesterday, one at Argonia and the other at Tribune, Greely county. The latter reported liabilities amounting to $6,000 Its capital stock is $5,000. No cause is assigned for the failures other than a gradual shrinkage of business In the western part of the state. Gold Coming to the United States. New York, September 21-The steamship La Gascogne, which arrived from Havre, brought $500,000 in gold consigned to Lazard Freres. The Bank of British North America announces that it will have a consignment of $500,000 in gold on the steamship Teutonic, leaving Europe Wednesday. New York, September 22.-Seligman & Co. will receive $100,000 gold by the steamship St. Paul now on the way hither. The sum of $1,000,000 gold was deposited at the sub-treasury today in exchange for greenbacks. The steamship Teutonic, leaving Europe