The herald., 1896-07-25
Trade Has Been Dull and Grows Still nore
StaRnont

NEW YORK, July 24-Bradstreet's will
say tomorrow:
Telegraphic and mail a6lvices from COM
mercial and industrial centers indicate
more unsatisfactory state of trade. job
bers and retailers houses show still fur
ther caution in the matter of securing
supplies, buying for actual needs to de-
gree not heretofore reported. There is no
outlook favoring an early revival of trade,
while the volume of sales continues light
and prices low, with a further restriction
of credits. Unfavorable crop reports from
Nebraska have caused cancellation of
some orders and long continued rains in
Tennessee have checked business there
Louisiana reports the new rice crop short
and Eastern Washington and Oregon that
the long continued dry season has had an
unfavorable effect on the wheat crop. The
industrial situation is somewhat more
prices for most varieties. of which notably
southern pig iron. are shaded. The en-
couraging feature in iron and steel is the
extent to which stacks have blown out
Exports of wheat, flour included as wheat,
from both coasts of the United States and
from Montreal. amount to Soss,oOo this
week as compared with $685. 900 bushels
last week and l ,265, 900 In the corresponding
week in 1895.
throughout the United States, against 255
last week and 239 in the week a year ago
There are 81 business failures reported
week against SO last week and 25 in the
week year ago.
Bradstreet's review of the New York
stock market will say: The action of the
New York banks in agreeing to replenish
the diminishing treasury reserve by sur
rendering part of their own gold holdings
by the actual deposit of $15, 600 900 of such
gold, has checked the growth of the pan
icky feeling IN the securities market: This
a 10 ~ oh ed fIA fa,,
dency to hoard gold that was apparent in
many directions. Equally important was
the step taken to secure concerted ac
tion by foreign exchange houses for the
restriction of gold exports. These devel-
opments came at an opportune moment
Gaon When a0d ions st crumbnE and qu
London was ah eavy buyer at the severe
decline early, in the week. although the
encouraging outside interest and partici-
patton is concerned. In fact, the market
but for the presence of a few bargain
hunters" and purchasers Of cash was al
most bare of demand and the operators on
the short side of the account met no re-
sistance IN their efforts to hammer down
sympathy with the stock list and dealers
report that municipal bonds are virtually
unsaleable,. corporations and individual
chases. On Friday the market was more
reactionary in tone and prices suffered
under the absence of short covering and
DUN & C.'S REPORT.
r. G. Dun & Co.'S weekly review of trade
tomorrow will say:
The week began with extreme depression
in stock and speculative markets. owing
to the heavy outgo of gold and the fall of
the treasury reserve below the minimum
The Populist and silver conventions caus-
ed some apprehension and large withdraw,
ais of gold for boarding were rather feared
than seen. Then rame a sharp recovery
with the union of banks to turn $40. 000. 900
Of gold into the treasury and of interna-
The gold reserve has been quickly lifted
above the $1000 900, 900 mark and political