The Portland daily press., 1895-07-13
BUSINESS PROMISE.
Bradstreet's Shows a General
Frightening Up.
TRADE rs SURE TO BE GOOD IN
THE FALL.

Railway Earnings and Bank Clearings
Show Great Gains-Crop Prospects
Excellent-Promise of Future Happi-
ness.
New York, July 12-Bradstreets' tomor
row will say: At the close OF the second
week in July the condition of trade
generally remains practically unchanged,
although the commercial and industrial
activity at many points continues more
conspicuous than usual at the midsum
mer season. Prices generally continue
strong, the exceptions being found among
the cereals, hog products, coffee and lead,
while as significant as anything else are
the exceptionally favorable outlook for
trade in the fall and the encouraging
promise for the wheat and corn crops
throughout the Central Western, Western
and Northwestern states Almost all the
cereal crop reports except those called
Official" have been most favorable.
Bessemer pig iron is higher again, s14
being asked at Pittsburg and SIS is ex-
pected in the near future. Steel billets
are higher, as are galvanized and black
sheets, hides and manufactured goods
very generally. Heavy receipts of cattle
and hogs, good crop reports and reduced
purchases of wheat abroad will explain
the reactions in the commodities referred
to.
Sugar, print cloths and cotton remained
firm at last weeks quotations. New
business in dry goods is quiet. Prices
are steady, dress woolens being firmer
on higher price of raw wool.
The bank clearings throughout the
country this week present the largest
total since the period of the panic in
the second week of July, 1894, IA per cent
larger than the second week of July,
1898, and one half of one per cent larger
than the second week of July, 1892.
Among the eastern cities there is a
change for the better at Pittsburg, Phila-
delphia, Baltimore and Providence. Man
ufacturers of woolens and jewelry report
a better demand, with all forms of iron
and steel in active request. These feat
ures are resulting in stimulation Of
business in other lines
With few exceptions the general trade
is quiet. Summer dullness prevails
throughout the South. The exception is
with respect to the iron mills which are
| running full time. This is conspicuous
at Chattanooga, and is beginning to be
in Birmingham. At: Atlanta the sales
of hardware are larger; those of dry
goods, shoes and groceries are smaller.
New Orleans reports only a fair volume
of business, less than expected.
AT any of the cities throughout the
Western and Northwestern states the
merchandise markets present a dullness
incident to the first half of July, although
at all points the outlook for fall trade is
tod
! of business is heavier than expected at
| this time. Collections are good and the
crop market is favorable. The industrial
situation is characterized by the western
pig iron furnaces being sold nine months
| ahead and by contracts within week
| for 10, 600 tons of steel rails at S25. St.
Louis, Kansas Cityeand Omaha all report
| hardening and an expectedly favorable
| crop outlook.
| On the Pacific coast trade conditions
continue favorable. The construction of
| the San Joaquin Valley Railroad is aid
ing business in many directions. Exten.
sive wheat engagements at San Francisco
leave that port bare of tonnage Port
land, Ore, reports prospects of good fall
trade, and an improvement in the salmon
catch.
The Washington crop reports are en-
couraging. There are 13 ships loading
with lumber at Tacoma. AT Seattle there
| is notable increase in mill operations
| and cargo shipments. The exports OF
wheat, (flour included asTwheat) 2, 317,
600 bushels this week, against 2, 377, 00O
| in the second week of July, 1894 and 4,
134, 900 in that week of 1893.
The June railway earnings show a con-
tlnued improvement, and the largest
gain for any month within two years.
The total earnings of 120 roads for June
aggregate $50, 469, 745, an increase ovel
| June year ago of per cent, against
a decrease in June, 1894 from June, 189;
of % per cent. For the first time this
year granger and eastern roads show in
creases compared with a year ago. Fol
the six months ending with June this
year, the earnings of 122 roads (witt
gate 1924, 1886, 900, a gain over last year Of
2: 5 per cent, following decrease in the
six months of 1894 from 1898, of Is. 4 pei
cent. The only notable falling off in
June is that in theearnings of the South
ern roads caused by the coal miners
| strike on the Norfolk & Western. En-
couraging features are the increases in
| earnings of the Pacific and Southwestern
groups
There were 266 failures in the United
States this week, compared with 229 il
| the second week of July, 1894, and 39S
in the like week of 1898.
New York, July 12-R. 6. Dunn & Co.
report that the failures for the first foul
days of July show liabilities of 81, 25S,
| 500, of which 1886, 434 are for manufact
uring and $7O2, 066 for trading concerns.
The failures this week are 253 in the Uni
ted States, against PAT for the correspond
| ing period last year.