The news & observer., 1897-07-17
OUTLOOK ENCOURAGING
NOTHING TO HINDER RAilD IM
PROyEMENT, SAYS DUN.
BUT BRADSTREET IS NOT so HOPEFUL
Demand For Wheat From Australia, South
Africa, Brazil and Argentine--SIx Less
Failures Than For the Correspond
ino Week Last Year.
ing Week Last Year.

| L IA
morrow will say:
The dulest month in the industrial year
is duller than usual, Notwithstanding
limprovement among potters and others.
This is due to a reaction in iron and steel.
prices of which are back to lowest points
on record, dragging demand for boots
and shoes. and threat and famine OF bl-
luminous coal. There are more coal
miners out than at this time last week
and notwithstanding assertions that ar
bitration will end the strike in the near
future, some Of the larger operators IN
the Pittsburg district declare that there
is nothing to arbitrate.
| Manufactures of cotton goods and
their agents report trade slow, owing to
higher cost for cotton and low prices for
goods. This has shut down number OF
cotton mills in Massachusetts, and Rhode
Island. A fairly steady business is re-
ported by eastern manufacturers of
shoes. but this trade at Philadelphia is
dull, merchants hesitating to place or
ders Western wholesale dealers in cloth
ing report distribution unsatisfactory.
Western bar iron mills are already shut
down and if the coal striks 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 a fort
night ago.
The heavy loss Of sheep in Australia.
due to drought, and speculation in wool
here on tariff prospects have made wool
prices higher, with large Sales, about
| S,O0O.O 900 pounds at Boston alone, COM
| 000 in ha tlya
week last year.
The worlds available supply of wheat
is probably the smallest at like period
in many years. Europe is expected to
have to import 100,0O0000 more bushels
than last year, and neither India, Aus
tralia or the Argentine is expected to be
able to supply its usual share.
The general tendency of the price
movement this week is to reverse the
growing strength Of quotations in the
proceeding fortnight.
| Exports of wheat flour included as
! wheat, from the coasts of the United
| States and from Montreal this week
snow the first sharp decline since last
| April, amounting to only 1,522. .092
bushels, against 2,502, 900 bushels last
week, 100000 bushels in the second
week of July last year, 1862 900 bushels
| in the like week of 1895, 1873, 900 bush
els in 1894 and as compared with s.
| O77,000 bushels in the corresponding
week in 1893.
The heavy decrease in shipments Of
wheat, as compared with last week, were
from New York City, Boston and Mon
treal Exports of Indian corn amount
to 2,723,510 bushels this week, almost
exactly the same quantity as last week,
two and half times the quantity ex-
ported in the like week last year, three
times the like exports in 1895, sixteen
times the amount shipped in the second
week Of July, 1894, and more than twice
as much as the corresponding shipments
in 1898
There are 247 business failure report
ed throughout the United States this
week, compared with 213 last week, 255
in the week year ago, 214 in the week
two years ago, 212 in the corresponding
period of 1894 and as compared with
517 in the second week Of July, 1898.
There are 3S business failure reported
from the Dominion Of Canada this week
| compared with 34 last week, 33 in the
! week a year ago, and 10 two years ago.
DUN & COMPANY'S REPORT
| New York, July 16.-R. G. Dun and
| Company's weekly review of trade to-
morrow will say:
| Excepting the great coal miners
| strike, which may terminate at any
time, there is scarcely feature of the
business outlook which is not encourag-
ing, the season considered. Crop pros
poets have been improved by needed rain
in some regions and foreign advices con-
tinue to promise a large demand. In
/ .nI, t,.,n arti in,r1a aylxy an
building, there is more activity than in
any year since 1892 and the week has
brought a better demand in boots and
shoes and in woolens, while the move
ment of freight mainly iron ore, through
the Sault Ste Marie canal is the largest
in its history. With money markets un-
clouded, there is nothing in sight to
hinder rapid improvement when uncer-
tainty about legislation has been remov-
ed, for the miners strike could not last
long if business and industries should
become active. There is much less ap-
prehension of failure of fuel supply
than there was during the first few days
when prices rapily advanced. Large
quantities of coal from West Virginia
have reached northern markets, but
, some of the miners in that State have
struck.
The advance in wheat to SIS cents
was not due to the government estimate,
which was followed by decline, but to
foreign advices and considerable buying
for export. Demand is already felt from
; Australia, South Africa, Brazil and even
Argentine, while the promise for Euro
pean crops is not considered bright. The
disposition of farmers to keep back
wheat for higher prices may affect the
outward movement, but Atlantic exports
during July, -four included, have been
3,115,4 443 bushels, against 2,953,S17 last
year, although in the same weeks A.
659315 bushels of corn went out against
1.574,O72 last year. Wheat closed fou1
cents higher for the week and corn halt
cent higher. Cotton is sixteenth high
: er, the closing or partial stoppage Of
; important New England mills hardly
neutralizing in market estimation th'