Warren sheaf., 1896-07-09
10 = !. --aI = ! - 49,. :. :
TRADE REVIEW.
The situation AS Seen by Dun and Brad.
street.-The Failure Record.

New York, July 4.--R. G. Dun &. CO..
in their weekly review of trade, saw:
"Current movements have been so lar.e-
sly Of q temporary character or else purely
speculative on the day by day plan, that
they are not highly instructive Thus an
extensive shutdown of cotton mills il
solely in the hope that half production in
stocked market. Stocks fluctuations were
still more ephemeral including two sharp
declines and partial rallies within week.
both laboriously ascribed to various po-
litical causes, but mainly due to keen op-
orators who saw chances for quick turn
Extended reviews Of the half years op-
erations in leading branches Of manufac-
lures go far to explain numerous stoppages.
In woolens they are without concern. Mills
are waiting for orders, the sales of wool
having been not a third of last years for
the same week. Prices are depressed, but
still depend on foreign possibilities. In
cotton goods the closing Of many mills, both
August. is in effect a recognition of the fact
that heavy stocks Of goods manufactured
from cotton costing between 7h and Sh
cents could not be expected to show profits
If the mills go on manufacturing until a
new and probably heavy crop of cotton is
ready. The reduction of prices has brought
out large demand in many cases, but not
enough to meet the output Of the mills A
further decline in print cloths to 21h cents
is significant, when such decrease in
production is assured.
Having begun by reducing prices to the
lowest ever known. boot and shoe produc-
ers are doing q shade better in prices with
leather a little cheaper on the WHOLE though
hides have mounted to about the level of
January 1. The output Of iron has largely
decreased, and there is a quite general
stoppage of works for repairs. but the an
nual controversies about wages have in
most cases been settled, and it is believed
will be settled in all without strikes.
Wheat declined one-half cent and re-
covered one-fourth cent, but western re-
ceipts continue remarkably large. The
stocks in sight are greater than a year ago,
and though winter wheat yields less, spring
wheat seems likely with fair weather to
yield more than last year. Corn promises
remarkably well and also oats. Cotton
greatly needs rain in parts of Texas, but
better reports come from most of the other
sections, and large increase in acreage is
generally reported.
Complete failure returns for the second
quarter of 1896, April to June 80, inclusive.
cover 1886 in the United States, against
2,e55 in the same quarter Of last year. Fall
ures for the week have been 257 In the
United States, against 1876 last year, and q
in Canada, against "a last year."
Bradstreet's says:
General trade, in both commercial and
industrial lines, is duller, but the failing is.
in part, the usual midsummer dullness.
Comparatively few changes are noted, but
most of them are decreases in either price
or demand. Quotations for wheat, Indian
corn, cotton, oats, iron and steel are lower.
Sugar has reacted after the decline of last
week, leather remains conspicuously firm,
with shoe factories busily employed, and
petroleum and anthracite coal are higher.
The sentiment of the trade at many points
is not favorable. At some western centers
complaint is made that the purchasing
power Of the agricultural community is cur
tailed by prolonged low prices for farm
products. The general Industrial situation
shows no renewal of activity"