The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1897-07-31
Los ANGELES HERALD. SATURDAY MORNING JULY s.,

week of 1894 it was 22O, and in the like week
of 1893 it was 459.
FINANCIAL REVIEW
In its review of the stock market Brad
streets will say: Speculation in Wall street
continues active, and, in spite of some
trregularity in price, has a pronounced
bullish tone. Expectation of a reaction as
soon as the passage of the tariff was ac-
complished rendered traders disposed to
adopt the bear side at the beginning of the
week. Considerable profit taking was seen
in the grangers and in American Sugar on
Monday and Tuesday. This selling was
supplemented by offerings of short stock
on the part TO the traders, who throughout
the week have shown a readiness to at
tack the market On the other hand, an
outside demand for stocks asserted itself
at concessions, while the disposition to pur-
chase low priced shares that have not
taken part in the rise was a notable fea-
ture. Expectations of revival of general
business tended to create speculative con-
fidence, and the continuance of favorable
crop reports, foreign purchases of grain
and accounts of the heavy traffic appear
ing on the western railroads have all in
1uenced spectators and investors. At the
same time 1t would seem that powerful
financial interests are favorable to the bull
movement IL they are not actively helping
1t. The market was. at the close of the
week. disposed to pay some attention to
the unexpected strength of exchange and
unexpectedly large gold shipments today.
Dun & Co.'s Review
NEW YORK. July sO.-R. G. Dun & Co.'s
weekly review of trade tomorrow will say:
Dispatches from almost every northern
city OF importance report, without excep-
ton, improvement in business and from
Detroit to Seattle and Portland splendid
crop prospects. The task of adjusting the
business and industries of the country to
conditions created by new law has pro-
crossed with gratifying rapidity and ease
Even the increasing strength of striking
coal miners probably forwards the adop-
ton of the uniformity plan, which prom
ises to remove most of the causes of the
struggles Some confusion is caused by
the seemingly contradictory closing of
large cotton mills when many other works
are starting, and by decline in some prices
when others are advancing, but the bal
ance is Enthusiastically on the right side.
The most important event since the pas
sage of the tariff, which was generally an
ticipated week ago, has been the marked
increase in foreign demand and advance in
price for wheat. The latter has risen Az
cents during the week, with western re-
ceipts for the first time exceeding last
years, and western railroads besieged
for cars, and Atlantic exports of 1.7lS, 1888
bushels, flour included, for the week and
6,S51,1 s7 bushels in four weeks, against
6,94I,S 65 last year, with contracts for ship
ments exceeding 1,200.0 900 bushels on a sim
gle day. Liverpool reports of a shipment
from America to Northern Bohemia and
with French markets excited, speculative
sales here have little influence. The in
dustrial sky is partly overloaded by coal
and iron difficulties and by the closing of
mil T. win frr
months far ahead of consuming demand
on cotton bought at comparatively high
prices the mills see ahead large crop and
cheap cotton, and it is but the rational way
to halt production, clear off accumulated
stocks at the season when vacations are
common and begin the new year on its
own basis. The wooden manufacturer
answers wholesomely and moderately to
new tariff conditions and while opening
of lightweights below about 81 in cost, has
made a very encouraging demand the adj
vance in prices asked is not large. With
very heavy stocks of free wool on hand
affairs are able to and in vhe presence
of large stocks of foreign goods are
obliged to engage for the next season with
out advancing prices in proportion to the
rise in wool, and large contracts of that
nature have already been made. Selling of
wool at Boston, where the speculation has
| been most active, is suggestive. amounting
| to S,S05000 pounds for the week, and at
the three chief markets to 1884, 500. Sales
for four weeks have been 49, 109, 200 pounds,
%, 53S. 500 being domestic, against 7,21l, $50
in all last year. Delay in the iron indus
try is partly because the wages have not
been settled at all the works, though at
many, and partly because of the steadily
rising demand, does not yet raise prices
In some products prices are lower. owing
to competition between the works, but
Bessemer is shade higher In structural
work, plates, sheets and bars for the
enormous operations of agricultural i'm
plement works, the demand increases for
rolling stock owing to the abundance of
crops.
Failures for the week, 236 in the United
States, against PSI last year, and IS in.
Canada, against 40 last year.
ON ,NHANGE