The Providence news. (Providence [R.I.]) 1891-1906, 1895-07-20
TRADE OUTLOOK.
Somewhat Dimmed by the Dizziness
OF Midsummer.
LOWER PRICES FOR CEREALS.
Prospects For tho Industrlals
ReasSuring.

NEW YORK, July eo.-R g. Dun & Co.'S
weekly review of trade says Tho weeks
news Is not entirely encouraging, but Is
all the more natural because there are
signs Of midsummer dullncss.
Wheat prospects are not quite so good
as last week, but still there are lower
prices, as corn and cotton have been
lowered. The exports of gold and the less
favorable treasury returns for July are
not unexpected and mean nothing as TO
coming business. There Is pcrceptible
decrease In tho demand for most manu-
factured products, and the actual distribu-
tion TO consumers naturally lessen In
midsummer. Much of the recent buying
was 10 anticipate rise In prices, and
such purchases fell of when prices have
risen.
There are still numerous advances In
wages, but strikes grow more numerous
and important In part because business
was usually large In the first half Of July
n quite tone meets reasonable expecta-
tions
The future turns on crops and the mar
kets reflect a prevailing belief that the
crops are TO be fair. Stocks carried over
are such that yield Of 1000, 900 bales cot
ton and 420, ,000, 900 bushels wheat would
meet all needs, but lower prices prophesy
larger yields, and of corn probably the
largest on record. Wheat has declined .
cents for September, corn III cents and
cotton q cent for spot.
The Metal Markets.
To some extent industries are awaiting
the crop outcome, as usual In July, but
reports Of more works going into opera
tion express faith in the fall demand, for
q time Of reaction after the heavy pur-
chases Of the past two months was inevit-
able. Orders have so accumulated in iron
products that some works forego the usual
summer rest, and eastern furnaces, soon
90 begin blast, will add about 5000 tons
weekly to the production. Yet the week
has been in new business the dullest since
tho rise in prices began, as many hesitate
to buy after so great an advance. A few
quotations have advanoed-gray forge and
eastern bar--while bessemer pig is shade
weaker at Pittsburg. but the average of
all prices Is 1 per cent higher for the week
and 2s.8 per cent higher than Feb. /.
Minor metals are stronger with sales Of
1900, 900 pounds copper up to IL cents for
lake, and tin Is firm In spite OF o large
visible supply.
woolens and Cottons.
Wool advanced in the first half Of July
an average Of 1 cent for l04 quotations OF
domestic by Coates Bros. Of Philadelphia,
and is now per cent higher then year
ago. The opening of lightweight woolens
has not been encouraging, as less demand
and slightly lower prices appear, but
highly encouraging as to worsteds, In
which there are numerous advances.
Cotton mills continue to enjoy a largo
business, and several have advanced wages
this week, but some strikes of considera-
BILE Importance are threatened or in prog.
-rcss. The weaker tone for the material
does not as yet affect prices OF goods.
New business in boots and shoes is linn
ited, though makers reason from the gen
eral pressure for deliveries that distribu-
tion has been large, and that the next sea
son will be good. There is obvious, on the
other hand, some shrinkagc in buying be-
cause the advance in prices has been so
great. Shipments from Boston for July
thus far have been 269,0ll cases, against
2iS, ,s92 for the same weeks in 1892, but
many makors are nearing the end of their
orders, and some are discharging cutters.
Business Failures.
Failures for the week have been 258 in
the United States, against 236 last year.
Canada's Poor Crop Outlook.
Bradstreet's says: Grasshoppers and
lack of rain have injured the crops in the
province of Quebec, and In western On
tario the outlook Is so unfavorable in
some localities that cattle have been
turned into wheat and hay fields.
General trade at Montreal is only fair,
and requests for renewals have increased.
Fears as to the consequences Of the banking
embarrassment there have subsidcd in
large part. The general trade prospect
there, as at Quebec city, is not as bright rs
II was 10 days ago. Business Is quiet at
Toronto, with a moderate improvement In
demand, based on general crop prospects
and the demand for wool from the United
States. The outlook is favorable at Hall
fax, and fair at Prince Edward Island.
Drought and forest fires have added TO til,
disaster in Newfoundland, but the fishin
season jp that colony is said to have bee,
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