The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1896-07-04

marked by a more decided shrinkage in
values than has been witnessed for some
months past, accompanied by both liqui-
dation on large scale and by pressure
upon prices from operators for the short
account. Apart from sales of stocks
where the margin should have been ex-
hausted or holders became anxious as
to the outcome, the public has had little
part in this weeks trading. Its in
creased activity with such exceptions
was mainly professional, although
very noticeable feature of the situation
was the heavy and aggressive buying on
declines by the foreigners. This, in
deed, has been one of the most re-
markable incidents of the week Cable
reports describe Americans as being
the most active department in the Lon
don market, and state, moreover, that
at the declines very active demand for
them has made its appearance in that
quarter. At the same time, so far as can
be learned, the buying question can
scarcely be all by the foreign public but
is due to large banking and speculative
interests in London. While the action
of the foreigners did not at once check
SAAN NSiici diiAdtiOii III w oil SlTeeI, III tne
end 1t affected a speculative sentiment
and was influential in producing the
steadier tone which asserted itself in
the latter part of the week at the lower
level of prices. Friday the market was
dull, steady and somewhat higher on
covering of shorts and continued foreign
buying. At the close the market weak
ened a little on professional bear SELL
ing.
Bradstreet's review Of trade will say:
General trade in both commercial and
industrial lines is dulled. but the fall
ing 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 last week; leather re-
mains conspicuously firm, with shoe fac
tories busily employed, and petroleum
and anthracite coal are higher. The
sentiment of the trade at many points
is that the immediate outlook for busi-
ness is not favorable. At some western
centers complaint is made that the pur-
chasing power of the agricultural COM
munity Is curtailed by the prolonged low
prices for farm products. The general
industrial situation shows no renewal Of
activity. Exports Of wheat from both
coasts of the United States and from
Montreal, flour included as wheat, one
days shipments missing, from four At
lantic ports. aggregated 2,6O1, 900 bushels
against 2,837,000 bushels last week;
2.O07, 900 in the first week of July, 1895;
1,85O,0O0 bushels in the corresponding
week of 1894, as compared with 3,677 900
bushels in the like week Of 1893.
Business failures in the United States
for six months number 1902, the largest
six months total since records have been
compiled. The increase, compared with
1895 and 1894. is more than 1000 in each
instance. Is and per cent respectively.
The total liabilities are $1O5, ,535, 900.
This has been exceeded only twice be-
fore in like periods, in the panic years
1884 and 1888 The increase in total lia-
bilities over the first half of 1895 is 81 per
cent, and over 1894 it is 2S per cent.
The total number Of business failures
in the Dominion of Canada for six
months is 11S4 for 1896. compared with
S34 in 1885, an increase Of nearly 27 per
cent.
business failures weremor numerous
in the last six months than in the like
portion of 1885, in each of the provinces
except Manitoba and British Columbia.
The total liabilities this year are sS,2S4.-
200 against $6,629.000 last year, gain of
IA per cent