The Monticellonian., 1895-07-05
ouN'5 COMMERCIAL REVIEW.

NEW YORK, June 29-R. c. Dun < Co.'S weekly review of trade, issued to-day, says:
 The half-yearly report of failures next week will include about 6,9o0, against 7,039 for the first half of last year, and liabilities of about sss, 000,- 900, against sl01, ,57s, 159 last year. But for the Cordage concern, the aggregate would be nearly 23 per cent. less than last year, and the manufacturing lia- bilities 20 per cent. less, but including it, the manufacturing liabilities will be about s40, 09O, 900, against S41 ,376, log last year, and the trading S45, ,0O0,000 against S52, ,345.973 last year, while miscellaneous liabilities were only @, FOG, GOO, against S7, S56.072 last year. The liabilities for the second quarter will be about s4l, 100000 against S47, 0Si ,6Ss for the first quarter this year. but sS7, 595, ,973 for the second quarter of 1891
 Railroad receiverships cover eleven roads, with 3,356 miles, S10a 656. 40 in- debtedness and Ss7, 498, 53l of stock. Failures in Canada have been about l,100, against 1, ,042 last year.
 Failures for the past week have been 256 in the United States, against 214 last year and 23 in Canada, against 35 last year
 Business is better, although the crop outlook, affecting prospects be- yond the near future, Is little less distinct There is more ground for doubt about winter wheat and cotton than q week ago, and threshing re- eeipts are comparatively low, though prospects for spring wheat are exceed ingly good. The price, one-quarter of cent lower for the week, is beyond mistake too low, if the latest impress sions of injury to winter wheat are correct, and receipts for the week are relatively small, but for four weeks have been 5,16G, ALA bushels against 5,T9f, ,59s last year, while Atlantic ex- ports, flour included, have been for four weeks 4.912,729, against TAI. 002 bushels last year.
 Corn has declined a fraction and pork is steady. Cotton has fallen three-sixteenths to cents, in spite of
 
 Texas and Louisiana. A little buying by northern spinners surprise the mar ket, for their takings have been moro than enough for the years consump. tion. and British returns show great decrease in exports of cot ton goods.
 Speculation has even spread to the wool market, and. with an advance of about l cent in prices, the sales have been the largest ever known in any week=14,067, 900 pounds, against G. sS5, GOO in 1892. In four weeks of June the sales have be been 16, 132, 465 domes- tie and 7,45t, 800 pounds foreign, but in 1899 they were 13, 340, TOO domestic and 0,427, 300 foreign. A growing belief that the domestic clip is short, and an idea that the coming London sales, beginning July ?, will show higher prices, have been more potent than a little increase in the manufacturing demand, and the prices have risen in all markets. Light weights and mixed goods hesitate, and some are lower than a year ago, but since the Washington mills opened Clay worsteds at a slight advance, other medium and better grades have been stronger in tone.
 The labor troubles are passing with frequent advan ces in the rate of wages paid.
 Copper has been strengthened by a large sale of Calumet and Heela for export at 10% cents, which is now quoted; while tin is slow at 14.15 and lead at 32711 cents.
 Iron still advances. Bessemer selling for Sl290 at Pitts burgh, and grey forge at S10 sO a further advance in structural forms Is expected, the west ern demand for steel rails at the ad- vance of g. per ton is quite good the rise in bar is maintained and plate and sheet mills are crowded so that it is difficult to place orders at current prices.
 The closing of it's contract by the syndicate raises the treasury reserve above Sl00, GOO, 900, but the certainty that no more gold is to be imported by the bankers makes foreign exchange stronger. and if large part of the bonds taken abroad have been resold in this country, deliverable as soon as possible, as some believe, the heavy merchandise imports at New York, AS per cent larger than last year, against exports about 9 per cent smaller, will render exports of gold altogether prob able
 Money still comes hither from the west in amounts averaging about S25O, 900 daily, and commercial loans are enlarging, particularly on iron and other manufacturing paper. The railroad presidents have again agreed to restore rates which have been disas- trously cut for some time; but railroad stocks have sharply declined about 1.94 per share during the past week. Prices of coal are not maintained, and another meeting of the agents failed to mend matters.
 The volume of business represented by exchanges through the principal clearing houses is for the past week B. per cent. larger than last year, a really surprising gain, and only Fl per cent less than in 1s02, while the average for the month is 2SS per cent. larger than last year and Fl per cent. less than in 1892. The return is highly encouraging.
 Finding of the United States Local Board