Freeland tribune. (Freeland, Pa.) 1888-1921, 1895-08-01
ONLY FAVORABLE SIGNS
Nothing Else Visible on the
Business Horizon.
Scarcely Any Shrinkage Except
That Which Comes Natural with
Midsummer Heat-More Long
Closed Works To Open-Large
Demand for Cotton Goods.

New York, July 27.-Dun's weekly re-
view of the condition of business will
to-day say: 1t is not the season for the
tide of business to rise, but there is per-
ceived scarcely any shrinkage except
that which comes naturally with mid
summer heat. Lateness of spring trade
threw heavy settlements into the second
week OF July and clearing house pay
ments are now almost quarter smaller
than in that week, but are RI per cent.
larger than last year, and only so per
cent. smaller than the same week of
1892. The volume of new business is
small compared with recent months, but
large enough to encourage more open
Ing OF long closed works, and more ad :
vances in returns to labor. Important
strikes show that the advance is not
enough for some, but seem not more
threatening than a week ago. The
small shipments of gold count for moth
ing, and money markets are undis-
turbed. A graver cause of apprehen-
sion, II current reports were reliable,
would be the injury to wheat, which
has affected the markets more this week
than at any other time since early in
June, but, with reason or without, the
reports are generally believed to be ex-
aggerated.
Financial Situation.
The financial situation Is not disturbed
by gold shipments, nor by the large ex-
cess of treasury expenditures, amount
ing to about 1890, 900. Receipts are
naturally better in July than in most
other months, but expenses are also
large. Money scarcely begins to go out
for crop moving, and the demand for
commercial loans is not as large locally
as it should be. Failures for seventeen
days of July show liabilities of So, 599.-
751, of which 81, 993, 52S were of manu-
featuring, and SO, 924, ,sS1 of trading con
Germs. A year ago corresponding
reports covered $6,317, ,696, of which
S3, ,5SS, 93S were of manufacturing, and
81, 4S3, oil of trading concerns. Failures
for the week were 202 in the United
States against 249 last year, and 81 in
Canada against 80 last year.
Iron and Steel Products.
Prices of iron and steel products still
rise, the feature this week being the
startling advance of so cents per keg in
cut and wire nails, with new cards for
various sizes which, it is stated make
the advance actually greater than it ap-
pears. Angles are also shade higher
and other prices strongly maintained
Bessemer pig does not advance, although
the Carnegie and one other company
have been buying about 140, 200 tons
which is supposed to foreshadow large
contracts for rails. In the first half of
1893 orders for rails were 713,000 tons
against 502, 900 in the first half of last
year, and good many small orders ap
80
distinct halting in new demand, though
crowded with orders for some time to
come. The prospect that other furnaces,
with a capacity Of 5000 tons weekly at
the east and as much at the south will
go into blast within the remaining
months of 1895, hinders further rise in
pig
Textiles and Boots and Shoes.
Textile works have better outlook
with a larger demand. both for cotton
and woolen goods, shade advance in
print cloths, and in most bleached goods,
and more hopeful market for light
weight woolens, which, if scarcely ad-
vanced beyond last years prices, are ON
the whole selling better. Enormous
sales of WOOL A, 77S, 1854 pounds in four
weeks against 20, 220, $50 in 1892, far ex-
ceed actual consumption, but reflect
belief that prices will not decline, and
the few changes this week have been
upward. Scarcity of domestic wool in
eastern markets is in part due to heavy
speculative Withdrawals. The boot and
shoe manufacture has before it orders
for some weeks work in most branches,
though the new orders are at present
scanty. Shipments from the east in four
weeks of July have been 371 ,3S9 cases
against 1913, 1853 for the same weeks in
1892.