The herald., 1895-07-13
Weekly Reports of the Great
Commercial Agencies
CONSPICUOUS IMPROVEMENT
Trade Prospects Favorable Throughout
the Country
Wall Street Spectators Object to the Leakage
Of Commercial "Tips" from the Gov
eminent Agricultural Department

tIduc SeueTally
changed, although commercial and in
dustrial activity at many points con-
tinues more conspicuous than usual with
the midsummer season. Prices generally
continue strong. exceptions being among
the cereals, hog products, coffee and
lead, while as significant as anything else
are the exceptionally favorable outlooks
for trade in the fall and the encouraging
promises for the wheat and corn crops
throughout the central. western and
northwestern states. Exports of wheat,
-four included as wheat, amount to 2,317,-
900 bushels this week, against 1000, 900
last week. 2,377.000 in the second week
in July, 1894, 4, $4,000 in that week in
1893, and as compared with 2.5s3 600 IN
the corresponding week OF 1892. AT At
lanta sales of hardware are larger, but
those of dry goods. shoes and groceries
are smaller. New Orleans reports only a
fair volume of business, less than ex-
pected. At many of the cities through
out the western and northwestern states
merchandise markets point to dullness
incident to the first half of Jniy, though
at all points the outlook for fall trade is
reported good. At Chicago the volume
of business is heavier than exepcted at
this point, collections are good and the
crop market is favorable. At st. Louis.
u
volume of business. prices hardening and
ah expected favorable crop outlook.
On the Pacific coast trade continues
favorable. The construction of the San
joaquin valley railroad is accelerating
business in many directions.
Eastern wheat engagements at San
Francisco leave that port bare Of tonnage.
Portland, Ore, reports prospects OF
good fall trade and Improvements in the
salmon catch.
r. G. Dun & Co. s weekly review says:
A business Hood so strong and rapid
that conservatives fear it may do harm is
ont of season in July. But the seasons
this yeal lap over and crowd each other.
May frosts and frights. it is now evident
kept back much business that would
naturally have been finished before mid
summer, and the delayed accumulation of
one season gets in the way of efforts to
begin another on time. But the volume
Of business. however it may be assured.
IS remarkably large for the month, even
in good year. The exaggerated fears
about crops have passed, the syndicate Is
believed both able and determined to pro-
tect the treasury, and the time draws
near when the marketing of new crops
will turn into a national balance if specu-
1ation does not hinder.
The week has been notable for sensa-
tional fall in wheat OF Genus in two
days, followed by recovery of cents,
though records no Interpretation of the
quiet disregarded government report. The
sudden drop in prices was the result of
speculation rather than commercial inhu-
ences. though exports not half as large as
last year 2097. Gas bushels (fiour included)
from Atlantic ports for two weeks of
July against 4, 227, 915 last year had their
effect as we'll as western receipts of H.
937. 474 bushels against 2, 156, Sl8 last year.
This news indicates an enormous crop of
corn, the largest grown.if weather favors,
but the price is only 1sc lower than
week ago.
The weekly output os iron was III 1874
tons, having risen 1890 tons in June
and where furnaces have gone into ope-
ration since July the output rose and has
put lnto operation many additional
works, and there is rush to buy before
prices have a higher advance. Influential
ufacturers are sending out warnings
that the rise may easily do more, ana
prices in fact have advanced nearly per
cent in two weeks. but are 10 per cent
lower than IN October. 1894.
The demand for structural iron is
enormous, including 1900 tons for No. 9
Broadway, and as much more here and
as much in Chicago on smaller orders.
Bessemer pig has advanced to $14.50 at
Pittsbrrg and wire nails to $l.55 higher
than in October, 1892, grey forge to
$l1.25. structural beams to $3.50 and
angles to $1.35. Copper is sitter at $1.sO
and lead at $3.37, but tin is slightly lower
ut IA cents.
Wool is still advancing with enormous
sales. II, ia. 600 pounds for the week, and
in two weeks OF July 26.497,6l4 pounds,
as against II, 9S6, $50 in the same week of
1892. AS the sales are about four times
the weekly consumption 1t is expected
that the market is essentially speculative,
but the rise abroad has set the country
aplaze so that western holders are asking
even higher prices than heretofore. But
buying by most manufacturers is already
affected and at the prices now asked for
wool. some manufacturers are doubling
whether corresponding value for goods
can be realized.
Labor controversies in wooden mills
have genearlly resulted against the work.
ers, although some advance in wages has
been obtained. but strike of carpet
weavers at Philadelphia already affects
thousands and threatens to include a
great many more, an advance of ~ cents
being demanded while the market for
goods is so dull and weak that manufac-
turers naturally refused.
Cotton goods continue active and strong
with comparatively little dicffiulty as to
labor. Northern mills have taken little
over 100, 900 bales IN the past thrce
months since cotton was below cents,
but with cotton bought cheap for five
months ahead, they are able to do good
business.
Failures this week have been 253 in the
United States against 247 last y ear, and
35 in Canada against 40 last year.
y 1H
There was much kicking among grain
men on the New York produce exchange
yesterday over the leakge of the crop re-
port. Insiders, it is alleged, are about
twenty-four hours ahead of the rank and
file OF traders i'll getting the report. A
prominent broker who is indignant at
the alleged tins, became possessed yester.
day noon of figures on the condition of
spring and winter wheat said to have
come direct from Washington. He re-
ceived them through friend, and re-
fused to give the names or figures, but to
assure the doubters that he had sure
TIP the figures were placed in an envelope
sealed with the signatures OF two brokers
and 1T was put away. This morning the
ngures were com pared with the Official
condltions sent out in the crop report.
On spring wheat the tip was 1O1 against
lO2. to 1922, the government figures and
winter wheat 65 against 65.8. official. The
signincance and importance of this will
be apparent when it is stated that the
best local guesses yesterday we're for con-
dltlons OF 1913 and u for spring and win
ter. 1t was said the northwest also had
straight tip on the government report
for they were heavy sellers in this mar.
ket yesterday.
Bank Of England Bullion
LONDON, July H. -Ns amount Of
bullion gone into th, Ba TX of England