The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-06-30
DUN'S TRADE REVIEW.
A SMALLER VOLUME OF BUSINESS
FOR THE HALF YEAR

Upon the Action of Congress-Cot-
ton Shows aWeaker Position-Prices
But Small Fraction Lower.
New York, june 2e. --R. G. Dun & Co. g
review of trade for the week is as follows:
Half the year closed with volume of bust
ness at this date about 10 per cont. smaller
than that of last year, but larger than 1886,
or previous years The general complaint
that business is dull means that the reac-
tion from greater activity than year ago
and from the confident expectations of last
winter is keenly felt. Tovery many traders
who bought largely in their over-confi-
dence, the shrinkage brings serious losses or
actual embarrassment, and to this cause is
mainlydue the increase noted during re-
cent months in the number of failures. For
the past quarter the failures number 2,241
in the United States, against 1905 for the
same quarter last year, and in Canada 343
against 3l5 In the amount of hablli-
ties there is also an increase in
the United States of 500, 229, $50,
against S22, $40, $50 last year, but decrease
in Canada 81, 7Sl ,674, against $780,, 1856 last
year.
Prices have remained little more quiet
during the past week, but show at the close
| some recovery. Wheat is but one-quarter
OF cent lower than week ago, corn l
cent lower and oats cent higher.
COTTON WEAKENED.
Fractional gains appear in lard and
coffee, while cotton has weakened "a cent
| and spectators for rise have been hastily
unloading. Oil is about one cent lower
| and refined has declined a cent. Bar iron
appears a shade firmer, strikes at the west
being deemed possible, and better prices
are realized for Bessemer pig at Pittsburg,
| but other quotations do not improve. No. l
foundry has been sold for less than $l8 at
| Philadelphia, and steel rails are unchanged.
| Wool remains unusually dull for the season
| and the manufacture shows no signs of re-
| covery. The general average of prices of
| commodities is but small fracJlon lower
than a week ago, and ii the crop prospects
| should prove less favorable some advances
\ might at any time begin.
| Crop prospects, excepting as to winter
wheat, continue generally encouraging
| i'll every respect save this.
The lateness of the season makes all crops
| peculiarly liable to injury, if the weather
| for the next two months should prove
exceptionally hot or dry. But our reports
| from nearly all points show that with favor
| able weather an excellent yield may be
| expected. As to winter wheat, however,
| reports do not warrant reduced estimates of
the loss, and on account of this shortage the
weather in spring wheat regions will now
| be watched with greater anxiety.
CATTLE PROSPECTS.
Accounts from the cattle growing regions
are favorable, but low prices are seriously
| felt by the 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 ad-
| iourned
| The volume of business is good for the
season at Omaha, Cleveland, Denver and
St. Paul, but is generally somewhat disap-
pointing. Complaints of dullness in trade
| and slow collections come from most
| quarters, though the supply of money is at
almost every point adequate. In many
cases the loan of capital to real estate oper-
| ations some months ago causes considerable
pressure. The latest report of the exchanges
| show decrease in the volume of business
in comparison with last year of 1S per cent.
at New York and 1917 per cent outside OF
| New York. AT Boston the loss is over &c
per cent, at Baltimore and New orleans
about Is per cent, and at st. Paul 13 per
cent. But gains appear Of Is per cent. al
Pittsburg. per cent. at Cincinnati, and
515 per cent. at Kansas City.
FOREIGN TRADE.
In foreign trade exports still fall below
last year for June about 81 per cent. while
imports slightly increase The value Of
exports for the fiscal year has probably
been about S697, 600 and of imports
about S722, 2,000, 900 No gold of consequence
has gone abroad, nor has the treasury made
further bond purchases of Importance. Its
statement of cash on hand shows no gain OF
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 oi
railroad earnings continue good On the
other hand, cutting of rates increases, and
the prospects of state regulation of charges
at the west are growing more threatening
Annual reports Of the state of business
from branches throughout the country
issued to-day, present a mass of valuable in
formation. The uncertainties regarding
the action of congress are quite generally
noted as the cause of dullness in trade. The
accompanying report of failures for the
half year, ending June 80, is more favor
able than tine statement for the last quarter
showing but a slight increase in the number
in the United States, and a decrease in the
magnitude Of liabilities in Canada as fol
lows:
UNITED STATES.
Failures. Liabilities
First half 1885; s;;:......".....5,is9 s6sila, I5!
I TtKufh hall nf