Telegram-herald. ([Grand Rapids, Mich.) 18??-1892, 1891-07-07

AL Ws<As
Special teiegrams To Bfzdsttects re-
cord the evidence. Of week broken by
a holiday. tota IN the United states
and Canada. which. occurring during
the period Of midsummer dizziness.
tends 10 siiil further restrict the volume
OF general basness. except ia a few
staple linss. 40 Boston. Philadelphia.
Memphis and san franc seo, rather
more than reasonable dizziness IA TO
ported, al tho latter intensified hy sx'
eesslve heat. Al New York, BALTIMORE,
Cleveland and cincsnnsti the volume
OF goods distributed has been OF dis
tnctiy moderate proportions. Even
thoss entefprlssng etnters, iittsbnrg,
-. Joseph, Omaha, ~. Louis, kaasss
City. Chicago ard Duluth, report trade
rs lair. while 81. Paul remains oonsplc-
uous for more encouraging reports.
New Orleans also announces some I'M.
pfovement In Industrial lines.
Pig iron, anthracite coal, lumher,
leather Ind tobacco have been ~ no
better demand, and. except the latter,
are taken for wants only, the tendency
being for stocks To increase and OF
prices toward heaviness. The volume
of sales of staple dry goods. notions
and clothing st western ccnters has
decreased Print cloths are unchanged
at bottom figures. Wool - more firmly
held at the west. but the movement
east is not encouraged by manufacture
ers, who are taking sparingly; prices for
Ono and Michigan heeces being 2GJ5c
below quota<lons one year ago, and the
market not active. The louisiana
sugar and cane crops are improved;
the Texas oat crop promises To be a
heavy one and late accounts from Kan
sas, Minnesota, the Dakotas, Iowa and
Nebraska are very favorable for wheat.
San Francisco IS shipping freely OF
wheat. flour and provisions to Ecuador
and Peru. which have heretofore relied
on Chill for these supplies. Cotton and
rice are featureless. Several of the
larger western iron and steel manufac-
turing concerns have shut down rather
than sign the modified wages scale pro-
posed by their employees.
Wall-st has experienced q tangible
renewal OF speculative activity and
something Of an improvement in share
values. Covering by the short interest
was the main factor, but European
buying apparently gave the needed en-
couragement TO the bulls. In spite of
gold exports, aggregarng $780, 900,
| Europe seems inclined to take favor
able view of the situation, while a
sharp decline in exchange encourages
the belief that the gold movement may
come to close. Railroad interests
take very favorable view of the out
! look, which effects the speculative
community. Money at New York re-
| mains very easy on call, but is firm and
scarce for extended time loans on ,ntI-
nations that the amounts of gold
lately shipped to France are to be re-
| turned.
The bank cleariugs total at fifty-eight
cities for six months this year equal
SOC, 00O. OO0, 900, fully $4,000, 600. 900 less
than in six months Of 1890, a decrease
/! of 10 per cent. OF this s., OOO, OOO. 900
\ New York City's decrease alone &C.
| counted for nine-tenths of that sum,
more than one-half of which was due
to decreased transactions at the New
York Stock Exchange. There were
nearly ii per cent, more business fail
| ures in six months of 1891 than in like
portion of 1890, while the increase of
liabilities was fully so per cent, chiefly
| III Southern and Western states. largely
among banks. bankers and investment
| companies, and to some extent
among manufacturers and dealers in
iron, pipe, woolens, shoes, dry goods
and lumber. Available stocks of
wheat in the United States and Canada
July were about 23,000,000 bushels,
which, with invisible stocks in the
United States. indicate total reserve
not to exceed $4,000, 900 bushels, the
smallest at like date for nine years.
The exports OF wheat (and flour As
wheat) from both coasts of the United
States this week equal to 2,22l .S97
bushels, against 1,9O6,4Il bushels last
week, and 200, 1881 bushels in the week
ending July 3, 1890. Prices of wheat
and flour have advanced on renewed
export demand and speculative activity.
| Wheat crop prospects in the Domin-
ion OF Canada continue very favorable,
and exert an influence on general
trade, which has heretofore been slow
and depressed. Business failures IN the
Dominion Including those for New
foundland1 increased 127. or IA per
cent, in SIX months of 1891 over 1890,
while the increase of liabilities was 81,
47s,2s6. or 20 per cent. The increase
In number and IN debts of failing trad
ers is to de credited largely 10 the Prov.
| ince Of Quebec.-Bradstreet