Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1888-07-02
FIRST HALF OF THE YEAR.
THE BUSINESS A TENTH LIGHTER
THAN LAST YEAR.
h. O. DUN s. Co. Report sn Increase I'm
Number of Failures and Amount
of Liabilities During tho
Past Quarter.
THE WEEKLY REVIEW.

| New YORK, June 30--R. G.. Dun e.
Co. s weekly review of trade will say;
The half year closes with volume Of
| business at this date about 10 per cent
smaller than that of last year, butlarger
than that of 1881, OF previous years.
The general complaint that business is
dull means that the reaction from the
| greater activity of year ago, and from
the confident expectations of last winter,
Is keenly felt. To very many traders
who bought largely in their over-confi-
| dence, the shrinkage brings seri-
Gus losses, OF actual embarrassment,
| and to this cause is mainly due
the increase noted during recent months
| in the number of failures. For the past
quarter the failures number 2, PAL in the
| United States, against 1905 for the same
| quarter last year, and in Canada 343,
against 315. In amount of liabilities
there is also an increase in the United
States--s29, 229, $50, against s22, 976, $50
last year, but decrease in Canada
50, 781 ,874, against s3,207, 9S6 last year.
Prices have declined little more during
the past week, but show at the close
some recovery. Wheat is but nc
lower than week ago, corn 1c
lower and oats 1c higher. Fractional
gains appear In lard and coffee, while
cotton has weakened NC, and specula-
tors Tor rise have been hastily unload
Ing. Oh is about 1c lower, aud refined
has declined 1sc. Bar iron appears
shade firfneT, strikes in the west being
deemed possible, and better prices are
feaiiEed for Bessemer at Pittsburg, but
other quotations do not improve. No. /
foundry has been sold for Less than SIS
at Philadelphia, and steel rails.are un-
changed. Wool remains unusually
dull for the season, and the
manufacture shows no signs of recov-
cry. The general average of prices of
commodities is but small fraction lower
than week ago, and if cfep prospects
should prove less favorable, some Cd
vance might at any time begin. The
| crop respects, excepting as to winter
| wheat, continue generally encouraging
| of the season makes all crops peculiarly
next two mouths should prove
exceptionally hot or dry.
But our reports from nearly
all points show that with favorable
weather an excellent yield may be ex-
/ pected. AS TO winter wheat, however,
\ the reports do not warrant reduced esti-
/ mates of the loss, and on account of this
| shortage the weather in spring wheat
regions will now be watched with greater
anxiety.
| Accounts from cattle growing regions
are favorable, hut low prices are seriously
felt by growers. The clip, of wool does
not appear to have diminished materially,
but there is less readiness to market
than usual because of the general belief
| that prices may improve after congress
has adjourned.
| The volume of business Is good for the
season at Omaha, Cleveland, Denver and
st. Paul, but is generally somewhat dis
| appointing. Complaints of dullness in
trade and slow collections come from
NEST quarters, though the supply of
money is at almost every point adequate.
In many cases the diversion of capital to
real estate operations, some months ago,
causes considerable pressure. The lat
est reports of exchanges show decrease
in the volume of business in comparison
with last year of 18 per cent at New
York and 1917 per cent. outside of New
York. At Boston the loss is over 30 per
cent, at Baltimore and New Orleans
about 10 per cent. and at st. Paul IL
per cent; but gains appear of is per
cent, at Pittsburg, 6 per cent. at Cincin.
natl, and 5T per cent. at Kansas City
In foreign trade exports still fall below
last year for June about 81 per cent,
while imports slightly increase. The
| Yslpecf exports for the fiscal year has
4 probably been about S697, ,00G, 600, and 81
IMPORTS about $722, GOO, 900. No gold Of
consequence has gone abroad, nor has
the treasury made further bond pur.
chases of Importance. It's statement OF
cash on hand shows no gain or loss for
the past week.
In the stock market dullness has
brought slightly lower average OF
prices, but holders hope for July rise,
and reports Of railroad earnings continue
good On the other hand, the cutting OF
Rates increases, and prospects Of state
regulation of charges at the west grow
more threatening.
The annual reports of the state of busi
pess from branch Offices throughout the
country to r. G. Dun & CO., the mer.
camille agency, present mass Of valua
bic information. 1t will be observed that
uncertainties regarding the action OF
c5ngress are quite generally noted as
cause of dullness ln trade.