The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1895-06-15
Good Times here AGAIN
Business Continues to Boom in Every
Direction.
CROP REPORTS FAVORABLE
The Coveted Gold Will Again Flow in Onr
Direction ut Harvest Timc-Wagcs
on the Increase Railroad
Stocks Advancing.

New York. June AR. G. Dun &
Co.'S weekly review OF trade tomorrow
will say:
1t is no longer a question whether
business improves. Not for a long time
have our reports from all parts of the
country been so uniformly favorable.
The daily average of bank clearings
in June Is 24.S per cent. larger than
last year, though 11.4 per cent. less than
in 1892. The most potent influence has
been the receipt of more favorable ad-
vices regarding growing crops; even
official statements helped, because alto
gether less gloomy than previous ru-
mors. Labor troubles are getting out
OF the way, wages in many establish
ments are rising, and with the iron in
dustry just now leading, there is gen.
eral Improvement in manufactures.
Monetary conditions also help. The
time draws near when, with good crops,
exports will bring gold hither, and
though foreign operations in stocks and
bonds have been insignificant this
week, the effect of previous transac-
tions has not been exhausted. Much
diminished receipts of money from the
interior indicate better employment in
business, especially at the west, and the
volume of commercial loans steadily
rises, and is now fair for this season
even in good year.
Cnlamitous RumOrs Extinguishcd.
The government crop reports were
so much less dismal than was expected
| that they really extinguished for a time
| 80 lo la
sidedly cheering outlook for spring
wheat, which our own and other private
adVices confirm, goes far to balance re-
ports of loss in winter wheat regions
and even these, in the light of the dem
onstrated deficiency of official returns
of acreage, were found far more en-.
couraging than previous accounts.
The output of pig iron June was but
a trifle larger than May ], 157,224 tons
against 156,554 a month ago, and 174,02.
two years ago. Stocks unsold were re-
duced in May 96,597 tons, by stoppagt
of many Mahoning Shenango, Illinoi.
and Virginia furnaces which after
wards resumed. The advance in price:
continues, bessemer pig reaching Sl24l
and grey forge s10.65 at Pittsburg, ant
changes in all iron product show an ad
vance of 81 per cent. this month ant
1873 per cent. from the lowest point II
February. For this conservative in
dustry the rise of &c per cent. in bes
semer iron seems large, but 1t compare!
with 80 per cent. in cotton, SO per cent
in wheat, 60 to 20 per cent. in ather
30 per cent. in refined oil, and over 10,
per cent. in hides. All these product!
were at the lowest when any came, bu
with each consumption has yet to justi
fy the advances.
Anthracite Little Backward.
The anthracite coal trade does no
maintain the improvement recently re
ported, and with palpable over-produc
tion, bad faith being charged again
the price has declined 25 cents.
The coke producers about Connells
Vile have not yet made open declara
ton of their new compact but con
tracts are being made at S1.35 for tn
last half of the year, with provision
for advance If wages rise Railroad
stocks have gradually advanced abou
% cents per share during the week, an,
earnings for the first week of Jun
show an increase of ST. per cent. owe
last year, while full returns for Ma,
gained 7.S per cent, though 1873 pc
cent. less than in 1898.
Failures for the past week have bee
241 in the United States against 2S
last year, and "a in Canada against 4
last year.