Omaha daily bee., 1896-08-01
BUSINESS RIPE FOR A BOON
Conditions Are Now Favorable for a Good
Improvement in Trade.
DUH SAYS THIS IS The TORPID SEASON
Prospects OF Large Crops OF Corn and
Cotton Continue to he Excellent
Lower Rates Bring Grain
20 Market.

NEW YORK. July Cir. G. Dun & Co.'S
weekly review Of trade. which issues to-
morrow. will say: Business conditions have
clearly improved, though business has not.
Ii is the torpid season and better pros
poets have little effect as yet. The sign
ing OF a compact to control foreign eX-
change by a syndicate p~ledging the use OF
SI5,Oo),oO for hat purpose may render it un-
necessary to use the gold and has given
some stocks a light advance. Gold exports
have been stopped and foreign trade is
more promising Of an early demand for our
product.
The prospects for large crops Of corn and
cotton are still excellent. Two important
labor contests have been se~ttled-between
the iron mills and puddlers, and at
the Brown Hosting works at Cleveland,
which recently raused the troops to be called
out. But the strike Of garment workers has
extended, although appearing near an end.
None suppose that the exchange syndicate Is
Interested 10 do more than bridge over a period
in which merchandise exports hav ebeen light.
But exchange in foreign trade is already in
the helpful direction. domestic exports from
New York having for four weeks been IL per
cent larger. while imports have been 20 per cent
smaller than last year, and last week 20 per
cent smaller. Wheat is already going out with
more freedom than is usual for the season. and
Atlantic exports have been 1901. III bu.. Hour
year, and for four weeks s,56i, 2sG bu.. against
3 ,i22, 4.l bu last year. Western receipts are
bu.. against 1855. 445 blu. last year. and, as
! part Is old wheat. so mucA the greater must
have been the surplus from previous crops. In
any event. the free movement shows that the
scarcity is due to the western farmers and hold
ers. The market, in spite OF reports indicating
smaller foreign supply, reacted after a rise OF
a little over / cent. closing half d cent higher
for the week. Lower rail rates help corn TO
make a new record at 30Ec, and prospects are
generally favorable.
Several weeks OF extremely slack demand for
cotton goods have brought a further reduction
in print cloths, TO 24ie, instead OF the advance
expected in consequence Of the stOppage OF 4OcO.-
0o sptndles. but prints are selling more freely.
\ While brown and bleached goods are dull. except
for export kinds. The woolen mills 90 not get
cent lower in price than last year. and sales
Of wool now reported are less than a quarter
Of a full weeks consumption, for the week only
l.eI9, 700 lbs. against 6,072. $50 lbs. last year, anu
for FIVE weeks past only ~ll.5iT.lsl lbs, against
q, SCI. SlA lbs. last year. and 81, 557, $50 lbs. in 1892.
Leather is stubbornly held without change
in prices, and in some grades Is really scarce,
although manufacturers are buying only for
sharply at Chicago. declining . per cent for the
week. with heavy Accommodations.
The iron industry is helped but little by the
settlcment which gives puddlers OF the Ohio re-
dcman is 80 light that few mills can run. and
the associations price is IL cents. while steel
bars are now being sold at less than Les cents.
Trade in wire nails has been so light that even
the trininG allotment of G.. 600 kegs for July is
supposed TO have exceeded sales, and the assO-
catin- is in session to consider the matter. The
billet pool has been constantly undersold by
middlemen. Many contracts for structural works
are held back. and there is very little done in
that line. and orders for plates and pipe ara
scarce. 1t is not strange that pig iron Is
we"" Bessemer being sll5G at Pittsburg and
s. n:hern somewhat lower at the east.
Failures for the week have been PSI in the
United States. against PSI last year, and 40 in
Canada, against % last year.