Evening capital. (Annapolis, Md.) 1884-1910, 1889-07-06
TRADE OF THE WEEK.
A Fairly Good Business for the
Summer Season.
uoLpEN AuTUMNAL PROsPEOra


Taanres ON the Increaae-wooi Al
sances--nron Remains Stronghold Co
lng Eastward Too Rapidly.
NEW YoRK, July CIR. g. Dun q
Co.. weekly review Of trade says:
Though there has been the dizziness
usual IN a holiday week, business has
been fairly maintained in volume andis
gradually Improving in prospects. Fall
trade Is expected to commence earlier
than usual, and the local indications in
all parts OF the country lead dealers to
anticipate a good season. June has been
month Of exceptionally large transac-
tions, and while speculation has 50
swelled bank exchanges at New York
that they exceeded last years BY " per
cent, and at Boston, Philadelphia ana
Chicago SO that they showed gain OF
1871 per cent. The increase at all other
clearing houses also averaged i4.5 per
cent.
Prices OF commodities, in spite Of the
rise in some speculative markets. have
on the whole fallen during the month
about per cent, and are now hardly
II per cent. above the lowest average
ever recorded. But there are signs Of
substantial improvement in the most i'm
portant branches of industry, which inn
press observers with confidence In the
future. The monetary situation, though
threatened by large exports Of specie,
remains as yet undisturbed.
stocks steadily sinking.
Nevertheless the stock market, by
many considered an indicator Of the
future. has been sinking. The average
81 prices has now declined 1921 per
share since June 12, and while the fear
OF monetary pressure hereafter had
been factor of some importance. it is
clear that the wars of western and to
some extent of eastern railroads have
disheartened many spectators and
caused much selling. It IS felt. too,
that the rise stimulated by sudden adj
vances In trust stocks was not OF sub
EtantiaI character. But there has been
much confidenc that the enormous half
yearly disbursements by government
and corporations would cause new de-
mand and advance IN the better secure
ties, and while the movement thus far
in July has not answered expectations
holders are still hopeful
Failures ON tho Increase.
Reports from interior points are gem
orally favorable both as to the volume Of
business for the season and as to the pre-
vnillng estimate Of prospects. Coflec-
tions are now here seriously disturbing
and the money markets are everywhere
fully supplied though with light present
demand at most cities.
The half yearly return of failures
shows relatively larger increase in
New England than In any other section
about 2S per cent.--and next in the
trans Mississippi region this side of the
Rocky mountains about 20 per cent
In the middle states the increase has
been but n per cent, thence to the Mis-
eissippi about per cent. and &C the south
about ~ per cent Against q general
inctease OF 3 per cent. In numbers there
Isl decrease Of 81 per cent. in aggregate
liabilities. Loss incident to speculations
have been heavy. but IS to number of
failures probably the disappointing trade
Of the last open winter was the most inn
portant cause.
slight Rise In Cereals
The markets have not changed greatly
during this broken week Wheat Is
about Of cent higher, owing to ac-
counts Of inquiry from prolonged
drought wheat in Dakota and Mime
sofa, where heavy rains have just inn
proved to outlook considerably. Other
crop prospects continue favorable, but
in some quarters too much rain has in
iured corn and the price is AGENT higher.
Products are coming forward in inn
nlense quantity 50 that prices are de-
pressed.
Leather does not change. but the re-
vised quotations Of wool for July / show
an average advance of about cent per
pound and Il is becoming serious ques-
ton whether the hopes Of improvement
IN the manufacture may not be defeated
BY an advance in the material which
may keep many of the mills idle. At
present many are working short time
md the buying seems only sufficient to
meet Immediate needs. The price Of
cotton has advanced 3-I0.
xron Holds IL Own.
The iron market remains strong il
tone. bat no further advance in prices
has keen realized. Southern iron is
still offered IN large quantity al sic. 30
Cor Ne. + and the demand for mannfac-
tured iron is less active. Sales Of about
10000 tons of stsel rails appear Is have
been on y basis IL SOS at eastern mills.
The monetary prospect is clouued BY
the exports Of Sl7 .501 $40 gold and ST.
131 .a6a silver from New York alone
since June /. In consequence the cir
culation 0f all kinds has been reduced
$I 0o0, 900 ii June, though the aggre-
gate Is even now 5000. 600 larger than
year ago It i felt that continued
oxltgo ia July would be apt to cause
pressure III September. The New York
banks reported last week 4 surplus OF
only $500 900, and the actual surplus
probably was not over 81, 000. 900. which
Is not large preparation for an active
foIi demand.
The Weeks Failures.
The business failures occurring
tlzroue hont the country during the last
total IS ~, Is compared with q total Of
EI5 M sReek and 2H0 the week previous
t6ff9 lH&t For the corresponding week
oi last year She figures were 2I4, made
no st IN2 liza the United States and g ia
XI5t Dominion AZ &sntsS, E a $3.50