The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1894-06-09
FINANCE And TRADE.
Weekly Reports of the Leading
Mercantile Agencies.
SLIGHT SIGNS OF IMPROVEMENT.

Speculation in Agricultural Products Has
Turned Toward Higher Prices, and the
Number OF Business Failures Are Much
Lower Than for the Same Week Last Year
New YORK, June 9.-R G. Dun & Co.'S
weekly review of trade says; The outlook
for business seems little better on the
whole, though the Improvement is not
great. Moreover, II is impossible to dis
tinguish between mere replacement OF or
ders cancelled for want Of fuel or other
causes, and the new business for which
works are anxiously looking
1t is somewhat encouraging that the de- !
crease in payments through clearing
houses is but pa per cent for the first
week of June-27.2 at New York but only
1874 elsewhere. The decrease in compari-
son with 1892 Is about 80 per cent Rail /
road tonnage is larger than year ago in
live stock and moderate In cereals, but
considerably smaller in coal and iron pro
ducts and In other manufactured goods
west bound.
Speculation in products has turned to
wards higher prices, and wheat has risen
five cents with an official state report of
! injury in Kansas which Is high favored
enough even for Farmers Alliances. Ac-
| cording to the estimate OF The Financial
| Chronicle the acreage this year increases
500, 900, or g. per cent, indicating larger
| crop, with favorable weather.
With only 2937 coke ovens working and
l4,576 idle, with the Cambria discharging
half its force, and seven out Of nine of the
| Carnegie furnaces at Bessemer out OF
blast, the production and manufacture of
iron and steel are smaller than at any
| nfh hap for ig hali
that deferred work will cause heavy pro-
duction after the strike terminates, the
demand for products is at present much
below general expectations even at the
| best. Other industries have been less
affected, but many Of the textile mills,
even in New England, have now been
closed for lack Of fuel or Of orders besides
other concerns in great number between
the Atlantic and the Mississippi river.
The returns of failures are still encour-
aging, there being 2l6 in the United
States for the week, against 922 for the
same week last year, and 40 in Canada,
against 81 last year. The liabilities in all
failures reported in the months of May
were Sl9, ,3O5, ,357, about Is, ,42O, 900 at the
east, a, 500 600 at the south, and s., 1000
at the west. OF the aggregate IS, 165, OPS
was of manufacturing and S6,6S5, 400 of
trading concerns.
Bradstreets' review says: Nearly all
the unfavorable business conditions Of the
past three weeks continue to exercise an
influence The few exceptions where i'm
provement is noted are Of practically local
Importance. Retail trade at many centers
has been interfered with by unfavorable
weather and by further restriction OF the
purchasing power OF thousands of wage
| aarnare hv furtbar al from bla Or
by shrinkage in production.
Among southern cities covered Rich
mond, Savannah, Jacksonville and Au-
gustA report the more favorable condi-
tions. At the first there is better de
mRnd for groceries and provisions, for
agricultural implements and leaf tobacco,
which Is quite active. Eastern Florida
| vegetable regions report continued i'm
prOvement In crops and corresponding
stimulation among merchants, while at
the Georgia centers the volume of bust
ness Ia fair in most lines and improved in
one or two. Elsewhere south dullness,
collections and surplus funds in bank
characterize business conditions.
There is little evidence of improvement
reported from the west. At Louisville
there Is more demand for tobacco, good
business being reported. There is more
| doing by Iobbers in hardware at Chicago,
r although interior merchants tributary to
that market have not begun to buy IN ad-
vance Of actual needs, and, on the other
hand, the spread Of the coal strike is
checking business there.
Available wheat in the United States
and Canada, ahoat for and in Europe, de.
creased more than 100000 bushels last
month, against an average decrease in
the month of May in five preceding years
of about 100000 bushels each Moth.
withstanding these exhibits Bradstreets'
return points to an accumulation in the
? United States and Canada of $4,000, OOO
bushels of wheat June l, only $500, OOC
bushels less than on June ! year ago,
J, and twice or three times as much as wai
I | so held ON June ! in several preceding