The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1894-07-14
FINANCE and TRADE.
Remarkable Statement in the Face
Of Adverse Conditions,
sOUNDNBss OF BUSINESS AMAZING

The stoppago of halfway Traffic, the De-
lay in the Tariff Bill and the work of
Mobs Has Not Produced the Paralysis
Feared.
NEW YORK, July AR. G. Dun & Co.'s
weekly review Of trade says: When cir
cumstances are duly weighed the strength
and soundness Of business in this
country during the past two weeks are
amazing. With the second city in the
country in the hands of a lawless and
murderous mob, besides many other cities
and towns with railway traffic almost en-
tirely stopped over the vast area between
Toledo an the Pacific, with presidential
proclamations declaring the existence of
an insurrection, and the passionate answer
ordering half million to stop work, with
prolonged strike of coal miners not
fully ended in many states, and with diff
ferenCes between the house and senate on
the tariff question so wide that the duties
affecting manufacturers and mining can
not be anticipated, industries and trade
have nevertheless gone on with sublime
confidence that the people and their gov
ernment would soon restore order The
shrinkage of business and depression of
values have been unexpectedly small the
failures relatively few and unimportant
and there are even signs in some indus
tries Of actual progress toward recovery
from previous troubles
Wheat is slightly lower, in profound
disregard of the government report indi-
eating "a yield of less than 400, 0OO, 600 bush
els, and as the official estimate of yield in
1898 was more than 100000 600 bushels
I short of actual exports and consumption,
it is readily assumed that another discrep-
aDcy as large may spring from similar
causes. Receipts and exports in the pres
ent disturbed condition of business are
| not significant
The decrease in failures exhibited last
week is followed by good returns for July
thus far. Reported liabilities in the first
five days were only Ssl1 ,567, though mail
delays kept back some western returns.
The number of failures during the past
week have been 237 in the United States,
| against 374 for the same week last year,
and 40 in Canada, against 25 last year.
Bradstreets' weekly review of trade
says: During the greater portion of
the week general wholesale business at
| Chicago and at centres within the terri
| tory tributary has been practically par
| dl9Acu ny lub TdllWhy blTlhe. Larger east
ern cities felt the effect of the tie up in re-
stricted receipts of live stock, meat and
| produce, while western manufacturers
and merchants suffered loss through in
ability to secure supplies and raw mater
| ials from the east. The railroad strike
and boycott in part repeated the effects
of the recent soft coal strike by shutting
up a large number of important indus.
| friac fhrp11rrb of fro Int
no more favorable time, from the point of
view of the merchant and manufactures,
than the midsummer of 1894, after the
| panic season in 1898 could have been
{ chosen to precipitate so widespread rail-
| road tie up when business was already so
| generally and severely restricted. A num-
Der of small strikes are reported, but there
are 25, 600 fewer idle because of strikes ON
Friday this week than last
Iron, steel, lumber, shoes, wool and
cotton manufacturing industries at larger
eastern and western centers have prac-
tically no shipments, and commercial
| travellers throughout the central western
states generally have been compelled to
! leave the road.
The worlds stock of wheat has declined
during the past fourteen weeks about
| 5000, 900 bushels more than in the like
portion of last year, which is significant
in view of the insistence in the trade that
invisible domestic supplies are almost ex-
| hausted. Exports of wheat, flour in
cluded, both coasts of United States and
Canada, this week equal 2,977, 600 bushels,
compared with !, $3.50, 600 bushels last week,
| T. l34, 900 bushels in the second week OF
July last year, 2,S5S,00O bushels in that
week two years ago and 100000 three
years ago.