Delaware gazette and state journal., 1897-07-22

settled there would not be cloud ON
the satisfactory business outlook that
continued during all the past week."
Crop prospects, il adds. have improved,
and the probability that tho foreign
buying will be very large increases
daily.
Dun's Review reports the aggregate
gross cummings Of all tho railroads of
the United States for the first week of
July as 81, 973, CIT. decrease of l. 6 per
cent compared with last year and Of s. 0
per cent compared with the correspond
ing week of 1892. Earnings last year,
the last week of june and the first
week of July, were unusually large
Nearly all classes of roads report loss
compared with both years. Shipments
indicate volume of traffic on Western
lines, about up TO the usual midsum-
mer movement. East. t.oound shipments
OF grain are light Shipment of live
stock, dressed meats and cereal prod
ucts are un to the average of the past
few months West bound business in
high-class freights shows an increase
largely in dry goods for fall and wintor
trade, and in heavy groceries. North
and South lines are carrying large con
signments of fruits, vegetables lumber
and provisions.
Bradstreet's says that July, the dullost
month in the industrial year is duller
than usual, Notwithstanding impove-
ment among potters anu others. This is
due to reaction In iron and steel,
prices of which arc back to tho lowest
points on record, dragging demand
for boots and shoes, and threatened
famine OF bituminous coal. Manufac-
turers of cotton goods and their agents
report trade slow, owing to higher cost
OF cotton aud low prices for goods.
This has shut down a number Of cotton
mills in Massachusetts, and in Rhode
Island. A fairly steady business is ie-
ported by Eastern manufacturers of
shoes, but this trade at Philadelphia
IL dull, merchants hesitating to place
orders. Western wholesale dealers in
clothing report distribution unsatis,
factory. Western bar iron mills are
| already shut down, and, il the coal
strike lasts another week, thousands OF
factory wheels will stop turning. This
checks the stronger and more confident
feeling in industrial circles which was
so pronounced fortnight ago. Tho
worlds available supply of wheat is
probably the smallest at like period
in many years. Europe is expected to
have to import 100, 600. 900 bushels more
wheat than last year, and neither India,
Australia or Argentina is expected to
be able 10 supply its usual share. The
American wheat farmer and speculator
are taking an unusual interest in the
situation at this time. Reaction in
iron and steel is followed by lower
prices for wheat flour, Indian corn,
oats, pork, lard, petroleum and rosin,
while practically unchanged quotations
arc reported for coffee, cotton, priot
cloths and refined sugar. The general
tendency of the price movement this
week, therefore, is to reverse the grow.
ing strength OF quotations in the pre-.
ceding fortnight
There are 247 business failures ro-
ported throughout the United States
this week. compared with 2l3 last week,
23J in tho week q year ago, 2l4 in the
week two years ago. 2l2 in the CORE
spending period in 1894, aud as con
trasted with 5l7 in the second week of
July, 1883