Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1896-08-26
DUN'S REPORT.
An Increased Number of Fail
ureS in the United States.
Political Events Have No D, finite In
flueEce on Business Prospects.
Withdrawals of Money In tn. Interior
Rather Lsrge-specutation Advances
wheat Over One Cent-D-prc.sloni In
Iron and Steel Trade Continues

New YORK, Aug. 2a.-R. q. Dun a
Co. say Saturday in their weekly re-
view of trade:
Failures for the week have been ESQ
in the United States, against ass last
year, and 20 in Canada, against ~ last
year.
Political events of the week had no
definite influence upon business pros
poets, for the phenomenal variations in
sterling exchange and the beginning
OF imports of gold, although following
the great meeting in Madison Square
garden on Tuesday may be fairly at
tributed to the accommodating excess of
merchandise exports over imports. to
which attention has been repeatedly
called, exports from New York for the
past two weeks having been 20 per
cent larger and imports here s1 per
cent. smaller than last year. The rapid
movement of grain and the unusually
early marketing of cotton tends strong
~ To aid the banking syndicate which
mas undertaken To regulate foreign ex-
changes.
Withdrawals of money to the in
terror are rather large and commercial
loans are hard to place. and this diff
Guilty checks many new enterprises
and business in many departments.
Bank clearings are small for the
week, II per cent. less than last wear.
railroad earnings are not as good as
might be expected for the first half of
August, exceeding those OF last wear
only 80 per cent
Speculation has advanced wheat over
one per cent. during the week. com a
small fraction and cotton sc. the prin-
cipal motive power being reports OF in
jury to growing crops
The boot and shoe industry is rap
IDLY nearing the end of past orders. ex-
cepting IN women's grain and buff
SHOES, OF which there are still orders
for some weeks To ccme. while Others
are constantly received; but in other
branches the new business is light.
Prices are shade weaker. Leather il
weaker, with small demand. al
though restricted supplies have caused
shade OF advance in some KINDS
Hides at Chicago averaged more than
per cent lower for the week AGAIN
the fall in the past five weeks having
averaged about % per cent.
The iron and steel manufacture has
DAiN NphbIhutu oppression To report
and BesSemer pig has sold at $40. 40 at
Pittsburgh, while southern No. | is Of
fered at prices equivalent to $40 Mt New
York, and nearly all finished products
are being sold below the current quota
tons. There is rapid curtailment OF
production, but in spite of this
the supply of finished products
appears to greatly exceed the
demand for them. The one bright spot
is a sale of 1900 tons steel rails to ia
pan for refitting railways in that coun-
try, which makes an aggregate OF -.
900 tons exported during the year.
Nothing encouraging can yet be said
regarding the wooden manufacture and
the demand for goods. even at recent
reductions in prices is still disappoint-
ingly small.
heavy auction sale of cotton goods
brought prices which were considered
quite encouraging, and the current de-
mand Is fairly maintained, although
the mills are not inclined to make
large contracts for the future in view
of the rise in the raw material. In
general the working force in the tex
tile branches does not appear to have
increased