New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-06

est No news appeared TO prop up pr1ces' 1"s
visible supply of wheat on turning into the no"
crop year proved to be 47.S6O.OOO busne's'
against 44,b81, 900 last year, and the western
receipts for the week were nearly three u"e'
an large as a year ago. while Atlantic exports
were over twice as large. including nour' looo
172 bushels against 972.001 last year sucn q
free movement at the turn OF the year, WIZ"
prices remarkably low could not occur u"'e''
farmers themselves were convinced tha' "o"
supplies would be very large DispatcnsS
garding the prospects for fall trade "e"'
ton material decrease In the yield oi VIII
ter wheat east OF Illinois. but ind'ca'e 'a'e'
yield in States further west, In some o'a. .''
unprecedented and note that farmers are s'"'
carrying a considerable part Of last years crop
because unwilling to sell at present prices o'e-
gon dispatches also say that the whea' ''o'
promises to be the largest ever grown
The cotton output Is rather less encouraging
an To Texas where rain Is reported only one
day OF last week from third OF the points ana
no rain from two-thirds. but in other States
the promise IL good, and everywhere the IN
crease OF acreage Is now admitted. The truth
Is that q very large crop this year would De uh-
fortunate because, as has been repeatedly pre-
dicted. the quantity Of old cotton TO be carried
over will this year be large. Commercial Stocks
of American, here and abroad. are now 10O322o
bales: European mill stocks, according to Mr.
| Ellison were $4,000 bales June /: and Northern
spinners have taken 1851 OI bales since Sep
TENDER /, when they held 3GO.8lS bales. and IN
these forty-fo weeks their consumption mas
certainly been less than their takings. The par
t,aI stoppage of works this month and next at
most of the mills will leave on hand at least
part of the 100000 bales which In these months
nod tha mil q uyerQ
the maximum. With such stocks carried. a
full Weld from the increased acreage would prob
ably be a misfortune.
No important change appears In the prices Of
cotton or woollen goods and the number OF
woollen mills In operation still decreases. Sales
of WOOL 1884 7S1 pounds for the week. OF which
2445781 were domestic. were slightly larger
than for previous weeks. owing to one sale or
800 600 pounds China carpet wool. but compare
with IA, GA pounds for the same week last
year, OF which S924G00 were domestic. Much
OF the buying then, and part OF 1t even now
must be reckoned speculative. though prices 90
not change Nor Is there change In prices OF
! boots and shoes OF which new sales have much
decreased, and In most branches are now less
than the weekly output though majority or
the factories have orders for some weeks
ahead. Leather is unchanged In price. but NOES
have advanced again. The iron combinations
have now reached tn. season Of midsummer
closing without any open concessions IN prices
But II Is noted that there has been much private
cutting The mills demanding lie. for iron
bars have quite generally closed. while steel
bars are selling freely at Lie. the nail combi-
nations have practically demand. and scarce
| " ANYTHING has been done by the billet pool. as
| middlemen have supplied what demand there
has been at 81 to 81 25 less than the pool has
| asked The Connellsville coke combination. still
| charging 50 per ton, has again persuaded the
railroads to lower freights to Chicago by %
| cents. because Pocahontas coke was getting
larger demand at the West. II consumption OF
iron products does not materially Improve after
| the summer vacation. the various combinations
| will have trouble.
| Commercial failures only. during the exact
| quarter ending June 80. according TO r. G. Dun
Co.. were 1895 with liabilities Of $4O.444.o4',
willie 35 banks are separately reported with
liabilities Of 4.0OO,199, thus making 7,O20 COM
| mercial and SO banking failures for the half
wear. with $97, 1863, 6S2 commercial and $S.IoZ.lu
banking liabilities. OF the quarters commercial
| failures. 500 were manufacturing with liabilities
of $40. 1856 733 and 2.13S were trading, with la
biities Of $40, 949.29S. The average of manufact-
ur,ng liabilities was only 1914 $50 per firm. against
| s33 2S3 for the same quarter last year. ana
| sal O39 in 1894 while the average OF trading la
| bties rose to S9.331 per firm. against $S.S31
last year. and SS361 in 1894 There is not much
done in commercial paper. offerings OF the most
desirable quality being not large and the con-
siderable quantity seeking virtual extension or
| renewal is not in demand. But reports from all
| parts Of the country show that merchants
| stocks are very light except In rev pranches'
and not at many cities. and that buying has
heen and probably will be very conservative.
The unwise and hurtful expansion o< last fall is
| not likely to be repeated.