The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1896-07-11
MIDSUMMER DULLNESS
CHARAoTERIzE TRADE TRR0UGH
OUT TIE COUNTRY.

Financial Question Is settled-Bank
Clearings Falling OT-Merchants Appear
Fearful of the Future General Tendency
of Prices Downward.
New York, July 10.-Bradstreets to-
morrow will say: The usual mid-sum-
mer dullness In general merchandise
markets has been emphasized by I'M
favorable weather, by uneasiness at
the attitude of the Chicago platform to-
wards the finances of the country, and
by the continued conservatism with
which merchants continue to supply
their wants The volume of business
appears smaller than last week Mer-
camille collections are more unsatisfac-
tory and there is disposition among
jobbers to look more closely after
credits. There is no Improvement in
the demand for fall business in WOOL
ems. Iron and steel industries report a
reduced demand, even after the greatly
restricted output, with prices practical
ly unchanged.
portion of the recent activity
among shoe manufacturers still con-
tinues. but the tendency is to fall off
Pittsburg, st. Paul and Savannah all
report smaller volume of business,
and complaints are heard as to the
prospect of the wheat crop on the Pa
cif1c coast. Bank clearings throughout
the United States aggregate only $685.
100000, a falling off from last week of
nearly IL per cent, and a decrease
from the corresponding week in July,
1895, of IA per cent. When contrasted
with the like period in 1894 (when the
volume of business was extremely de-
pressed) this weeks total is IL per
cent. larger, but when compared with
the total for the corresponding week
in 1893 the fall off is IA per cent, and
with the like period in 1899, the de-
crease is 10 per cent.
Among two dozen staple articles,
prices OF which form gauge of the
general tendency of values, only one,
print cloths. shows an advance over
last week, coffee, petroleum. iron, Steel
coal and lumber being conspicuous
among, these prices for which are IN
changed. The general tendency of the
price movement therefore, is down.
ward. the advance in prints being the
result Of the shutdown at the east
More encouraging trade features in
clude the opening of new prints for fall
delivery and the preparation for the
road of travellers, more particularly
among dry goods jobbers. Lake freight
rates are lower and shipments heavier.
Jobbers at Augusta report some i'm
proyement over May and June and at
Minneapolis merchandise is moving
more freely with fairly satisfactory or
ders. At st. Louis there have been
more orders received for hardware dry
goods and shoes than anticipated. At
Chicago increases In trade have been
very slight, but at Omaha gains are
noted in the movement of dry goods,
shoes and groceries. Relatively the
whose dry goods jobbers report sales
men receiving encouraging orders and
whose dealers in clothing and shoes re-
gard the past three weeks business as
pointing to better fall trade than in
1896
Gross railroad earnings for June are
favorable, showing the largest gain
over last year reported since February,
and a proportion Of gain almost three
times that reported in May. The total
June earnings of 113 companies aggre-
gate $35, $780, 900, gain for the year of
II per cent. This follows gain in
June a year ago over June, 1894, Of
per cent. The granger and Pacific
roads show heaviest relative gains, and
the southwestern and one eastern road
are the only groups that report de-
crease.
For six months the total cravings are
1922, 542,270, a gain over a year ago of II
per cent. The number Of business fail
ures throughout the United States is
219. The falling off from the
week year ago is Al. Advices from
Toronto are that the feeling in general
trade circles has improved slightly
Ontario crop prospects point to an av-
erage of recent years. At Montreal
business continues of hand to mouth
character and some orders for fall de-
livery have been cancelled.
Few merchants there look for gen.
eral Improvement in trade this season
The total number Of business failures
reported from Canadian dominion Is 81
this week against 80 in the week one
wear ago The bank clearings at Win
nipeg. Montreal, Toronto, Hamilton and
Halifax S24, 10000 as in the like week
one year ago the aggregate was $685.
n7e O00