The herald., 1896-04-11
COMMERCIAL CONDITIONS
Dun & Co.'S and Bradstreet's Reports on the
Business Situation

BUSINESS SituutiOn
NEW YORK, April 10.-Bradstreet's
financial review tomorrow will say that
during the early part of the week the
New York stock market, while dull and
professional in the character of trading,
displayed decided tone of strength.
The bearish tendencies which assert
ed themselves derived any positive
character they may have displayed,
from the situation at washington in
regard to the Cuban question. The
street" in fact. appeared to disregard
the adoption of the concurrent resolu-
tionS favoring the recognition of Cuban
belligerency. The acceptance by the
house of representatives of the senate's
form of this last Monday was indeed al
most without any effect on the stock
market. Rumors of action by the presi-
dent, possibly of a message to congress.
taking an advanced ground in regard to
the relations of this country toward
Cuba and Spain was what disturbed
the market, inducing caution and con-
servatism in some quarters and afford
ing opportunity for the speculative in
terests in and out of Wall street to insti-
tute bearish attacks upon various por-
tions of the stock list. At the same time
some effect was produced by the crop
news from the west, the decided impress
sion that winter wheat throughout
large area of agricultural country is in
Y,
of a number of important roads which
depend for traffic upon that class of
grain. 1t cannot be said that the
street" has been particularly sensitive
to the renewal of gold exports.
Bradstreet's Trade Review tomorrow
will say: While there is no general in
crease in business, there are several
encouraging features. First, the ad-
vance in prices of flour, wheat, corn.
oats, pork and sugar, together with that
for steel billets and beams and other
iron and steel products. The advance
in wheat has continued so much longer
than expected that the trade is again
discussing the likelihood of this be-
ing the beginning of the long-looked-
for advance for cereals which they be-
lieve must come after the extreme de-
preston of the last few years. I'm
favorable crop reports from central and
western states confirmation of pre-
viots short crop reports from Arsen-
tina and Australia, small supplies in
Europe and afoat therefore, but above
all, revival of speculation in wheat,
are underneath prices
Bradstreets exhibit of comparative
prices of 10S staple articles, including
live stock, shows higher quotations for
2S products on April /. 1885, compared
with 56 which We're lower and IS which
are unchanged in contrast with quota
tionS on January l.
Contrasted with one year ago there
are increases of quotations for 3S items,
while are unchanged and 49 are lower.
Exports of wheat, flour included as
wheat, both coasts of the United States
amount to 1.764,00 bushels this week,
compared with 1893, 900 last week and
1884 600 in the week last year. Indian
corn exports amount to 1891 900 bushels
this week. compared with 2199, 600 last
week and 29S14, 900 in the week one year
ago.
Business failures, 231 this week,
compared with z36 last week and 225
in the week year ago.
DUN So cos REPORT
NEW YORK April 1o.-R. G. Dun &
Cos weekly review of trade which is
sues tomorrow, will say:
The volume of business has not on the
whole increased, nor have prices appre
ciably advanced since April /, when the
range for all commodities was lowest
ever known in this country. Bread
stuffs and iron products have risen
slightly. but some other articles have
declined. and the root of the matter is
that the demand for consumption is still
below expectations. The weather has
not favored the active distribution of
spring goods.
The injury done to winter wheat by
storms and frosts at the west would
appear from reports of state officers to
have been considerable. Remarkably
low estimates of condition are reported
by state authorities. which tends to les
sen purchases of farmers and of dealers
in farming districts. But the reports are
more gloomy than year ago, and the
quantity of wheat which has come from
farms since August 1st has been 1G3 ISL
554 bushels, against 129076, ,460 at the
same date last year. Western receipts
for the week are about go per cent
larger than last year, and for two weeks
about so per cent. While Atlantic ex-
ports, flour included. have been for the
week, 909,co5 bushels, against 1.159, ,006
last year, a decrease of nearly half.
These conditions tend to check the
advance which reached three cents, but
was followed by a reaction of one cent.
Corn rose 2$t cents with wheat. and on
account of small stocks. The billet pool
has raised the price of pigiron and steel.
and yet the finished products have
gained scarcely nothing, nor has the de-
mand for them increased. Prices for
Lake ore are announced, as expected,
S1.10 higher than last year. and the coke
combination makes no reduction. but
gradually lessons the output. While
purchases of pig to anticipate future
wants have been heavy, actual compe
tition is but moderate. Minor details
are dull but lead is weaker at S3.05 on
forced sales west. Wool is weaker, with
sales for the wek only 2.232. 500 pounds at
the thre markets--the smallest for many
years. Prices tend lower except for fine
washed fleece, and manufacturers are
rapidly reducing production.
Failures for the past week have been
209 in the United States, against 207 last
year, and As in Canada, against p last