Freeland tribune. (Freeland, Pa.) 1888-1921, 1895-06-27
BUSINESS is BOOMING.
ENCOURAGING REPORTS RECEIVED
FROM ALL QUARTERS.
Crop Reports and the Constant Replen-
ishing of Stock by Dealers Are Impor-
tant Factors in tie Steady March On
ward Throughout the Country.

III 10 Steauy On-
ward Throughout the Country.
New York, June 26.-Dunn's resume
OF the condition of trade for the month
just closing will say as follows: lie who
sees setback in business at this time
must be gazing through telescope
pointed by mistake at some other coun-
try. From all parts of the United States,
the best advices obtainable tell Of ris-
ing tide of trade and industry, which
threatens here and there to mount too
far and too fast The volume of all busi-
ness is by no means equal to that of
1892 as yet, though in some important
branches larger than in that or any
other year. Daily payments through
clearing houses in June are 26.9 per
cent larger than last year, though SO
per cent. smaller than in 1892 the last
of full business at this season. A rise OF
more than quarter in II single year Is
the more significant because, in spite of
recent advances the prices of commodi-
Ties as whole average a fraction of one
per cent. lower than year ago
Causes of the Rise.
Two influences OF tremendous power
contribute to the rise, encouraging crop
news and confident replenishing OF
stocks which have been for two years de-
pleted to the utmost When business
payments have so long been Is, 600 mil
lions yearly less than before, it Is not
strange that the increase should be at
the rate of 1000 millions year
when faith In the futures inspires gen
eral replenishment of stocks. Except
ing too heavy rains in Texas, crop re-
ports this week have been highly encour-
aging. Future injury to cotton cannot
be predicted, but as yet nothing indi-
Gates yield below Z, 800, 900 bales, which
would not be supposed to threaten
famine if the commercial and mill stocks
were remembered, now exceeding by
$500, 600 bales full consumption until
September 1.
Iron Works Crowded with Orders.
The rush for supplies in iron and steel
resembles a bear panic'' in the stock
market. Because prices are mounting
everybody hurries to buy, so that they
mount higher. Bossemer iron has
reached $12. 80 at Pittsburg, the Bar as
sociation has advanced common to 3D. 10,
the Wire Nail association puts up the
price to $l.50 per keg, the steel rail
makers have raised the price to $24,
eastern and southern furnaces have both
raised prices again so cents per ton, and
structural beams are 1.35, and angles
1.25. 1t is undeniable that works in
operation are crowded with orders, and
others which have been idle for years are
preparing to resume.
Woolens and Cottons.
Sales of wool at the chief markets,
y, lib, TOO pounds domestic and 8, S44, 400
foreign, are larger than in any previous
year for the same week, and In three
weeks of June have been 10, ,516, 085
pounds, of which 1881, TOO were
foreign, against IS, 933, 900 in 1892, of
which 1894, 800 were foreign. Orders
for mems woolens are a little better, and
the Washington mills have opened their
Clay worsteds at an advance of about 24
per cent, though some lower grades are
reduced in price. Advances continue in
cotton goods, and are sustained by un-
usual demand and scarcity at time
when the mills are generally anxious TO
clear off old stocks.
Boot and Shoe Trade Booming.
Shipments of boots and shoes for the
week have been the largest ever known
in any week, 101, 425 cases, and for three
weeks of June have been IL per cent.
larger than in any previous year. Many
shops are stopping, though most have
orders to August or September. Evi-
dences of better employment of money
in the interior multiply, but funds con-
tinue to gravitate hither, and one large
loan for an Olneyville mill, with good
New York endorsement, was placed
for forty five days at II per cent. per an
mum, although commercial loans are
more freely offered and taken.
Business Failures.
Failures for the second week of June
show liabilities of only 2,092 882, of
which $702, 357 were manufacturing and
81, 327, 625 were trading against $2,917,-
635 In all for the same week last year, of
which $6SS, 1877 were manufacturing and
So, 220, 766 were trading. Failures for
the week have been 228 in the United
States against 214 last year, and 81 in
Canada against 20 last year.