The Providence news. (Providence [R.I.]) 1891-1906, 1895-06-01
CROP BUGBEAR.
indications That Reports Are
Exaggerated.
Leather and Iron Advancing-Cana.
dian Outlook Shows Improvement

New York, Juno l.-R. G. DUN & Co.,
In their weekly review of trade, say:
More farreaching than any other change
during the past week, IL really warranted
by facts, is the continued. rise in prices OF
wheat and cotton. Real Scarcity Of either
would affect all business. Happily there
Is still room to hope that accounts of in.
jury are greatly exaggerated, although
there has been some evidence during the
week that both the great crops have suf'
fered more than at first appeared. Other
changes are almost all favorable, and some
highly encouraging. Labor troubles are
clearly less threatening Monetary con.
ditions are satisfactory and the substan'
tial increase in the commercial demand is
good sign.
The failures during tho past week have
been l25 in the United States, against lS3
last year.
Wheat, Corn and Provisions.
Wheat is largely supported by pub
lo buying, and the purchasing orders
from farming regions are supposed TO in
dicate an opinion of the yield. Yet wheat
comes forward freely, as IL would not at
current prices IL u short crop were assured,
and western receipts for the month have
last year. Nor do Atlantic exports reflect
increased haste 20 buy abroad-amount in
four weeks -four included, g. 1873, 42o bush
els, against 9,7l6097 last year.
Accounts still indicate that spring
wheat was not injured, and promises we'll,
in spite Of some hot days, buSin a few of
the winter wheat states the yield has been
cut down, how much cannot yet be
judged. The sale of the stock held by the
Fair estate in San Francisco will lessen
the European demand upon Atlantic
stocks.
Corn is e11 cents lower, pork 25 cents
and hogs 20 cents per 100 pounds, but lard
Is 10 cents per 100 pounds higher.
Cotton and Wool.
Cotton continues strong, because it is be-
lieved there will be some reduction in yield
per acre, as well as in acreage. No esti-
mate based on definite information puts
the decrease in acreage at more than 1875
per cent, which with yield per acre
equal to last years would equal a crop of
S,400,000 bales.
Sales of wool for the month have been
10 765, $50 domestic and 10, OBS, 600 foreign,
against 1881 700 domestic and 9,267 $50
foreign in 1892, but stocks are rapidly accu-
mulating, and at Chicago are said 10 be
the largest ever carried. In prices there
are no changes.
Leather and Iron.
Leather still advances, but receipts OF
1900 hides from abroad are reported.
The iron Manufacture is gaining rap
idly, and the average of prices, which had
fallen Feb. TO 54.1 per cent Of the prices
in October, 1900, has now risen 10 591 per
cent most Of the advance hayin been in
May.
Trade In the Dominion.
Bradstrcet's today says: The advance
of prices of staples in the Dominion Of
Canada has stimulated business notably.
Retail stocks at Montreal, which had long
been depleted, are being replenished, and
the volume of business is larger than
year ago. Hot weather has increased the
demand for summer goods at Toronto, and
IL is striking that wheat at Ontario points
is commanding 81. Nova Scotia crop
prospects are favorable, but trade is not
active Much distress continues among
Newfoundland fishermen. Imports into
that colony this year are only about one
half the usual amount in like period last
year. There were % business failures TO.
ported from Canada this week.