The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-08-01
BUSINESS CoN0t IONS BETTER.

! BUSINESS COMB IONS BE 7 Err.
But Political Uncertainty sail Has an
UnfaVerable Effect.
New York, July 3I.--R. G. Dun &
! Co.'S Weekly Review of Trade which
issues tomorrow viii say:
Business conditions have clearly i'm
proved though business has not. The
| signing of a compact to control for
| eign exchange by a syndicate, pledg-
! ing the use of $3.50, 900, GOO for that Dur-
pose, may render it unnecessary to use
| the gold and has given some stocks
| slight advance. Gold exports have
! been stopped and foreign trade is more
| promising of an early demand for our
product. The prospects for large cot
| ton and corn crops are excellent. Two
! important labor contests have been set
tied between iron mills and puddlers,
| also the one at the Brown Hosting
Works at Cleveland, which recently
caused troops to be called out. But the
strike Of garment workers has extend
ed, although appearing at an end.
None suppose that the exchange
syndicate intend to do more than
bridge over a period in which mer-
chandise exports have been light. But
exchanges in foreign trade are already
i'm the helpful direction. domestic ex-
ports from New York having been for
four weeks II per cent larger, while
imports have been 20 per cent smaller
than last year and last week 90 per
cent smaller
Wheat IS already going out with
more freedom than is usual for the
season and Atlantic exports have been
i,901,1l bushels. flour included. for
the week, against 900,248 last year and
for four weeks 6,564,266 bushels, a.
gainst 1922, 421 last year. Western re
ceipts are also remarkably heavy, in
four weeks 1866, 1876 bushels, against
1885, 45 last year, and if part is old
wheat, so much the greater must have
been the surplus from previous crops.
In any event the free movements
show that the scarcity is due to West
ern farmers and holders. The market,
in spite of reports indicating smaller
foreign supply, reacted after a rise of
a little over 10 cents, closing 10 a cent
higher for the week Lower rail rates
helped corn to make a new record at
30.12 cents and prospects are generally
favorable.
Several weeks of extremely slack de-
mand for cotton orders have brought
n further reduction i'm print cloths to
2.44 cents, instead of the advance ex-
pected in consequence of the stoppage
of four million spindles, but prints
are selling more freely while brown
and bleached goods are dull except for
export kinds.
BRADSTREET'S REVIEW.
New York, July -Bradstreets to-
morrow will say
Political uncertainty continues an
unfayorable effect on trade and indus
trial and mercantile lines are dull
Mercantile credits are closely scanned
and in many instances shortened. Mer-
chants in northern Louisiana and
southern Arkansas ave cancelled or
ders for fall delivery in some cases
owing to the effect on trade of the
drought there.
The industrial situation is less ia
vorable. Among manufactures Of iron
and steel it is regarded as serious in
some lines. Owing to the surplus and
falling off of demand. the reduction OF
pig iron is further curtailed, yet stocks
are increased. The outlook is for
further decline in iron and steel Chi
~ ~ bAiAA = CONCESSIONS Oil pig 10 DIIIlR
bids for round lots.
Curtailment of products in cotton
fabrics continues, yet fall purchases
in prints are of small volume Demand
for boots and shoes is also smaller.
Exports of wheat flour included as
wheaD from both coasts of the United
States for this week amount to 2,484.0OO
as compared with 3,074,0O0 bushels
last. week.
The total number of business fail
ures throughout the United States this
week is 294 as compared with $50 last
week. The increase as contrasted with
the corresponding total in 1895 is u
or an average of 10 each day during
the week. As compared with the last
week of July, 1894, this weeks increase
is "a. There have been almost twice
as many business failures this week
as in the corresponding week of 1892
There are 81 business failures reported
from the Canadian dominion this week.
six more than last week. Ii more than
in the corresponding week last year
and six more than in the like week