The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-06-30
DUN's REVIEW.
Eject OF tho Shrinkags In Business
Belief That Prices VIII Improve.


Eject OF tho Shrinkage In BUSINESS
Belief That Prices VIII Improve.
New York, June Or. g. Dun 4 Co.,
in their weekly review OF trade, have the
following: The half year closes with a
volume Of business at this date about 10
per cent. smaller than last year, but larger
than that OF previous years. The general
complaint that business is dull means that
the reaction from the greater activity OF a
year ago, and from the confident expec-
tations Of last winter, is keenly
felt To- very many traders who
bought largely in their over-con-
fidence, the shrinkagc brings serious
losses, or actual embarrassment, and to
this causeis mainly due the increase noted
during recent months in the number Of
failures. For the past quarter, failures
number 2,24l in the United States, against
1905 for the same quarter last year, and
in Canada 343 against 3l5. In amount of
liabilities there is also an increase in the
United States $50, 229. $50, against s22,-
976, $50 last year, but decrease in Canada
s., 7sl, 674.against So, 2O7, 1856 last year.
The prices have declined little more
during the past week, bnt show at the close
somerecovery. Wheatis but a quarterlowe
than week ago, corn lc lower and oats lc
higher. Fractional gains appear in lard
and coffee, while cotton has weakened
&c, and spectators for rise have been
hastily unloading. Oil is about 1c lower,
and refined has declined lc. Bar iron ap-
pears shade frmer, strikes at the west
being deemed possible, and better prices
arc raised for Bessemer pig at Pittsburg,
but other quotations do not Improve. No.
l foundry has been sold for less than SIS
at Philadelphia. and steel rails arc un-
changed.
Wool remains unusually dull for tho
season and the manufacture shows no signs
OF recovery. Tho general average Of prices
oil commodities is but a small fraction
lower than week ago, and II crop pros
prospects should prove less favorable some
advance might at any time begin.
Accounts from cattle gro Sing regions
are favorable, but low prices are seriously
felt by growers. The clip wool does not
appear TO have diminished materially but
there Is less readiness 20 market than
usual, because Of general belief that prices
may improve alter Congress has adj
journed.
The volume OF business IL good for the
season at Omaha, Cleveland, Denver and
~. Paul. but is generally somewhat dis.
appointing. Complaints OF dullness in
trade and slow collections come from most
quarters, though the supply OF moneyis at
almost every point adequate. In many
cases the diversion OF capital TO real estate
operations, some months ago, causes con-
siderable pressure. The latest reports OF
exchange show decrease in the volume
OF business in comparison with last yenr OF
Is per cent. at New York and 1917 per
cent outside OF New York.
In foreign trade exports fall below last
year. for June about per cent, whilo inn
ports slightly increase. The value OF ex-
ports for the fiscal year has probably been
aoout 1900, 900 and oil imports about
So, 000, 900 oil consequence has gone
abroad. Uncertainties regarding the action
OF Congress are quite generally noted as n
cause OF dullness in trade.
The report OF failures for the half year,
ending juno 20, Is moro favorable than
the statement for the last quarter. showing
but slight increase In number in the
United States and a decrease In the mag
nitudc Of liabilities in Canada. as follows:-
First Half lsss-United States: Failures,
l,lSg liabilities, Sos, lli.l59; Canada:
failures, S72; liabilities, 81. 500, i22. first
half lss7-united States Failures, 4,9l2;
liabilities, $50, 1902; Canada failures
72i; liabilities. S10.693,0i5.