The Monticellonian., 1895-06-28
DuN's COMMERCIAL REVIEW.

the Best Advfces Tell of Il Rising Tide of Trade and Industry.
 NEW YORK, June 29.-R. c. Dun's report, issued to-day, says:
 Failures for the second week of June show liabilities of only &, 092, 3S3, of which S702, 357 were manufacturing and S1,329, ,625 were trading; against S2, 9l7, 535 in all for the same week last year, of which S6ss, 137 were manufae- turing and s2,22O, 766 were trading, Additions for the first week of June raise the aggregate for two weeks, in cluding the Gordage concerns, to s14,- 321 ,s41, of which Sl0.5f7,335 were m an ufacturing and s3,6S4116 were trad ing.
 Failures for the week have been 22s in the United States, against 21i last year, and 3l in Canada, against 25 last year.
 He who sees a setback at this time must be gazing through d telescope pointing by mistake at some other country. From all parts of the United States the best advices obtainabe tell of a rising tide of trade and industry, which threatens nere and there to mount too far and too fast
 The volume of all business is by no means equal to that of ls93 as vet, though in some important lines larger than in that or any other year.
 Daily payments through clearing houses in June are 269 per cent larger than last year, though SC per cent. smaller than in ls92, the last year of full business at this season. A rise of more than a quarter in single year is the more significant because, in spite of recent advances, the prices of commodities as d whole average a fraction of per cent. lower than year ago. Two influences of tremendous power contribute to the rise: Encouraging erep news and con fident repIenishing of stocks which have for two years been depleted to the utmost. When business payments have so long been Sl5.000, 000 yearly less than before, it is not strange that the increase should be at the rate of 1,0oo. GOO a year. when faith in the future inspires general replenishment of stocks
 Excepting too heavy rains in Texas crop reports this week have been highly encouraging. Future injury to cotton cannot be predicted, but as yet nothing indicates yield below 7.500 900 bales, which would not De supposed to threaten famine if the commercial and mill stocks are re- membered. now exceeding by ? 800, 009 bales, a full consumption uatil Septem bcr 1. Receipts continue small and consumption close to the maximum here and abroad, though the market ing of British goods is not entirely en- couraging. Liberal purchases of all products by the south do not indicate belief that any serious misfortune im- pends.
 So the strong trade in the cereal growing states accords with brighter crop prospects. The reports from spring wheat states and from the Pacific coast are so cheering that al though the loss of winter wheat was | large, those whose estimates have been most accurate in recent years now vary in predictions from 49O o0o, 900 to 47O, GOO, GOO bushel.
 Atlantic exports for three weeks, four included, have been only 3.758,- 71s bushels, against 6, O06 232 last year, indicating no urgent demand at cur. rent prices, There has been a fall of 6 cents in wheat, with heavier sales than for three weeks past.
 The rush for supplies in iron and steel resembles a "bear panic" in the stock market. Because prices are mounting, every body hurries to buy, so that they mount higher. Bessemer iron-h has reached SIP 65 at Pittsburgh, the Bar association has advanced com mon to St 15, the Wire Nail assocja- tion puts up the price to S150 per keg, the steel rail makers have raised the price to S24. Eastern and south ern furnaces have both raised prices again 50 cents ton, and struc. tural beams are S1. B and angles S1 9. It is undeniable that works in opera tion are crowded with orders, and oth- CTS which have been idle for years are preparing to resume.
 Sales of wool at the chief markets, 8,113, 700 pounds domestic and 3. s44, 40e foreign, are larger than in any pre- vious year for the same week, and in three weeks of June have been 10, 516,. 065 pounds, of which 7,764, 800 were foreign. Holding of stocks by growers for higher prices has caused an ad- vance in the average of 104 qualities of domestic wools quoted by Coates Bro. $ from 1909 cents June 1 to 13 27 cents; but Australian is bought on lo To af fI fa h ing and 34 to 36 for clothing, both secured, and want of domestic sup plies is evidently causing heavy pur- chases of foreign wool in advance of needs
 Orders for mems woolens are little better, and the Washington mills are generally opening mp their clay worsteds at an advance of about 2l7 per cent, though some lower grades are reduced inprices.
 Advances continue in cotton goods, and are sustained by unusual demand and scarcity at time when the mills are generally anxious to clear off old stocks.
 Shipments of boots and shoes for the week have been the largest ever known in any week, l0l, 425 cases, according to the Shoe and Leather Reporter, and for three weeks of June have been II per cent. larger than in any previous year.
 FINANCIAL DESPERATION Leads to Probably Fatal Shooting at
 south Bend, Ind.