The herald., 1896-05-23
COMMERCIAL CONDITIONS
Business Is Generally Dull TO Stagnatlon.
Increase In Failures

NEW YORK, May 22.-R. G. Dun & Co. s
weekly review of trade, which issues to-
The waiting condition, which is to some
people nothing better than stagnation,
Thousands of orders and contracts are
merely deferred because they can be more
safely given a little later. There is nothing
exciting in the speculation market for ex-
portable products and stories about dam
age to wheat have been numerous but
the general belief regarding the future
l 50 cents per bushel. The western receipts
bushels against 4a;362.6s7 last year. while
only S,19s.O6O bushels for the same weeks
against 4,749674 last year.
The home market fails entirely to re-
spond to short crop stories. for it is known
that western reports indicate crop ex-
ceeding last years.
If the output of pig iron were always
q reliable barometer of business condi-
lions, as some suppose, the return of fur
naces in blast may first, according to the
Iron Age 1SS,Sl9 against 1S7451 April l,
Of stocks unsold since January has been
293. 243 tons. and this, deducted from the
output, leaves 2976.34S tons for four months.
which is certainly in excess of the actual
consumption, because the stocks of the
great steel companies are not included in
the statement: Since the steel billet pool
creased largely. There is scarcely any i'm m
provement in the demand for finished pro-
ducts, though the bar association has be-
steel billets to get n slightly higher price.
Sales of wool have been 2.64S, 200 pounds
for, the week at the three chief markets.
and for three weeks ending May q. 9, 1877 400
pounds, of which 4,SS2, 800 were domestic
against 1594S,350 for the same weeks OF
1892. of which S.6O1, 800 were domestic.
Failures for the week have been 227 in
the United States against 207 last year, and
rs In Canada against % last year.
BRADSTREETS REVIEW.
NEW YORK. May 22-Bradstreet's re-
view of the week says:
speculation during the present week has
been even narrower and more professional
than before. The tone however. has on
the whole been steadier and the apprehen-
siye feeling in. regard to the political re-
suits as bear factors accumulates. That
large holders of securities have not been
affected by the recent liquidation tenden-
cy. but that the latter was confined to the
smaller semi-professional bulls. The ex-
haustion of selling from this quarter has
imposed check upon bearish activity
on the part of the room traders and the
absence of any decided pressure on the
market I has been no less significant than
the total lack of outside interests. COM
mission houses as class being almost idle.
London has not been factor either way.
Among the incidents of. the week is the
news that j. p. Morgan has placed an OPP
ton for Sc, SOC, 900 of the new Northern Pa
cine prior lien per cent bonds with a
Lon hond on, banking SYNDICATE. the belief being
autumn. This weeks gold shipments have
!. en- GO comparatively small; amounting to
s2,650 goo. and in the early part of the
ders" for gold from Germany had been
filed There seems to be some uncertain
ty about this. however, and the existence
of considerable inquiry for exchange
would in any event tend to force rates TO
a level at which gold would move to LON
don. as the record for many years past
shows to be a normal proceeding at this
season.
So far as any speculative interest de-
Xeloped 1t was mainly in connection with
trials.
The reactionary tendency In prices.
shrinkage in railroad earnings the falling
the present constitutes the, beginning Of
between-seasons period include the more
conspicuous features Of the general bust
ness fsitnaioh On the other hand BUSH
General trade throughout the Central
west has not met anticipation. Kansas
City, where the, movement of merchant
camille collections are fair and trade pros
poets were never better. improvements
are noted on the Pacific coast, due to the
look more favorable and stimulated pur-
cchases IN staple lines. Exports of wheat.
i,o1 IT. included 4a,,t as wheat from both coasts
100000 bushels as compared with 1.903 900
bushels last week, 2.754.000 bushels in the
week one year ago and 2,310, 900 bushels two
ures throughout the United States this
week shows marked falling. off from the
as compared with 265 last week, 2O6 in the
like week of 1895, 237 in the third week in
May. 1891 and as compared with 247 in the
corresponding week of 1893.
The total number of business failures 40
reported from the Canadian Dominion this
week is 2S as compared with "a last week
20 IN the week year ago and 20 two years