Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1897-07-24
WEEKLY REVIEW OF TRADE
Predictions for an Early and
Prosperous Fall
DESPITE THE COAL STRIKE
Favorable Outlook for Crops Warrants TIL
Above Prediction.
IN THE WHEAT CROP OUTLOOK
Uncle Sem's Domain Stands High Above
the Other Graneries of the World with
Russia the Nearest Competitor
Failures for the Week.

New York, July 23.-Bradstreet's to-
morrow will say: The widespread con-
fidence that there will be a marked re-
vival in general trade in the fall contn-
ues to grow and with it material evil
dence that it is well founded. Chicago
jobbers in clothing, dry goods and shoes
and manufacturers elsewhere of pianos
organs, wagons and farm implements
report that fall business has begun,
which is much earlier than usual The
distribution of general merchandise from
st. Louis is less active though trade
there is favorable. Like accounts re-
eeved from Pittsburg, notwithstanding
dullness in iron and steel; Savannah, in
spite of this being the busy season On
plantations Omaha. Milwaukee, Duluth,
Minneapolis and st. Paul, where mer-
chants are feeling the influence of
prospectively large crop of wheat, and
from Galve ston and other points In Tex
as on the favorable crop outlook and
confidence in all increased movement CT
merchandise next fan. Demand for
supplies for shipment to the Klondyke
geld region has made July the busiest
instead of the dullness month in the
commercial year at Seattle and has had
an influence on sales of staples at Ia
coma, Portland and San Francisco.
The worlds wheat crop outlook con-
tinues to favor the United States much
as it did eighteen years ago. The OUT
look is that Russia, alone of all other
wheat exporters, will be able to compete
with the United States The advance
of more than 20 cents a bushel, com
pared with year ago, is in the face Of
a domestic wheat crop probably 100, ,000,-
900 bushels larger than last year. And
the prospect for a continued higher level
for quotations owing to increased de-
,mand from importing countries explain
why the American farmer is to secure
his proportion of the advance the COM
ing era of prosperity. That he is alive
TO the situation is indicated by a ten
dency to hold back wheat already har-
vested, Notwithstanding higher quota
tions. Unfavorabe features include
the continuance If the strike of the Bit
luminous coal miners in the western and
}suthern states which now begins to
khreaten the continued activity of indus
tries dependent upon that variety of fuel
the present stagnation of the Bessemer
pig iron and steel billet markets with
prices as low as ever known, the shut
ting down of New England cotton mill
machinery to reduce output and get rid
of stock on hand and the unsatisfactory
condition of the woolen goods market on
account of the relatively low prices of
the products compared with the prices
for raw material
Exports of wheat 01our included as
wheaD from Montreal and both coasts
of the United States this week, amount
to 1,978,82S bushels, an increase of about
456 900 bushels compared with last week.
for which shipments from the ports Of
New York and Baltimore are largely re-
sponsible. The corresponding total in
the like week last year was 3,037 900
bushels; in the week two years ago, l.
265 900; three years ago. 3,SSS,000 bushels,
and in the corresponding period in 1893,
it was 4,363,000 bushels.
Exports of Indian corn amount to g.
298 379 bushels this week. contraSted with
2729000 bushels last week, .2S0, 600 bush
+ els in the week year ago, 10000 bush
els two years ago, 256,000 bushels three
years ago and as compared with 1,5S7,OOo
bushels in the like week of 1898.
There are 220 business failures reported
throughout the United States this week
as compared with 247 last week, $50 in the
week a year ago, 239 in the week two
years ago, 237 three years ago and 4S9 in
the correspor ding period in 1893.
There were 21 business failures report
ed from the Dominion of Canada this
week against 3S last week, 37'in the week
a year ago and 25 two years ago.
DUN'S REVIEW.
New York. July 23.-R. G. Dun & Co. 3
weekly review of trade tomorrow will
say: The enn of uncertainty regard ng
duties on imports gives greater conf
dence alike to those who have opposed
and those who have favored the change.
IL
in those of the granger list, reflects a
sembla rice of heavy crop. The rema rka-
Bile rise in wheat, Notwithstanding the
assurances, is based on heavy buying for
export and belief that foreign demand
will be large. To this seems to be adj
deii another element of confidence scarce
ly observed week ago. The Iavy in
crease in receipts of gold, whether from
one side of the Alaska border or the other
swells deposits at the mints and in the
LII H. rfxI1
from new regions answer current ex-
pectations. may have an influence akin 10
that of gold discoveries in California. The
one. retarding force the strike of coal
miners has caused Is closing of a numbsr
of manufacturing works for want of fuel,
but negotiations for settlement are still
pushed with hope of success.
The wheat movement in prices is Stltl
upward. Since July the price had risen
IL cents up to the beginning of the week,
so that al fall of cents was not surpris-
ing, but the rise for the week was ssc.
Tt is noted that this rise came in the face
of highly encouraging crop news. which
is not DISPUTED, and had nothing for sup
port but foreign conditions and demands.
That there is speculative handling be-
hind the great advance is evident, and
the buying for export has not yet resulted
in Atlantic exports quite as large as last
July to date, 4.632.440 bushels flour in
eluded, against 4961,7 ,746 last year.
Western receipts. 5.527. .591 bushels in
July, against 10,275,257 last year. indicate
concerted delay of shipments. which,
however, rarefy wf,hstands the influence
of a substantial rise.
Corn exports are stEl heavy. $685., 1916
bushels I'm July, against 2421 999 bushels
last year, which perhaps reflects more
cer.iainy than the wheat movement the
actual conditions abroad Both because
of the season ard because of the pending
action on the tariff Industrial operations
are waiting and yet with am importance
which under such conditions is sufficient.
The half year production OF pig iron
exceeded that of the last half of 1896 by
56.5s5 tors, but osstside the great steel
conpo MES there Is Ntr1e actfvfsy at this
time, though they are increasing their