The Portland daily press., 1897-07-31
BUSINESS IMPROVING.
The Advances Of Property Still Con.
tinues.
INCREASE In FOREIGN DEMAND
FOR WHEAT, ENCOURAGING.

Cotton Mills Curtailing Production In An
ticipation of Lower Cotton-Woolens
Respond to the New Tariffs-Prospects
Bright for Farmers.
New York, July 3O.-R. G. Dun & Co.,
in their weekly review of trade will say:
Dispatches from almost every northern
city of Importance report without excep-
tion 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.
gressed with gratifying rapidity and ease.
Some confusion is caused by events
seemingly contradictory by closing of
large cotton mills when many others are
advancing, but the balance is unmistake-
ably on the right side.
The most important event since the
passage of the new tariff which was gen.
orally anticipated week ago, has been
the marked increase in foreign demand
and advance in price for wheat, which
has risen 4 "a cents during the week with
western receipts for the first time exceed
ing last years, and western railroads be-
sieged for cars, and with Atlantic exports
of ]. 71S, ,73S bushels, flour included, for the
week and 6.351, ,17s bushels in four weeks
against 6,917, ,s65 last year. With heavy
contracts for shipment, exceeding 1900, 900
bushels on single day, Liverpool reports
of a shipment from America to northern
Bohemia and French markets excited,
speculative sales here have little influence.
With crop news still favorable as our
Western dispatches, show producers may
probably realize $50, ,000, 900 more than
last year on wheat, which means great
difference in purchases by agricultural
states. Corn also advanced l1.25 cents
and cotton sixteenth, though reports as
to yield are good.
The industrial sky is partly over-clouded
by coal and iron difficulties and by the
closing of some cotton mills. Having run
for months far ahead of consuming de-
mand on cotton bought at comparative
ly high price, the mills see ahead a 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
year on its own basis
The woolen manufacture answers
wholesomely and moderately to new tariff
conditions and while opening of light
weights below about 81 in cost has met a
very encouraging demand, the advance in
price is asked is not large. With very
heavy stocks of free wool on hand the
manufacturers are able and in the
presence of large stocks of foreign goods,
are obliged TO engage for the next season
without advancing prices in proportion to
the rise in wool and large contracts of
that nature have already been made. Sell
ing of wool at Boston where the specula-
tion has been most active, is suggestive,
amounting to S,s4S, 900 pounds for the
week.
Delayed purchases Of boots and shoes
now crowd the works and shipments in
July. not 1000 cases larger than last year,
and per cent less than in 1895, are larger
than in any previous year.
Failures for the week have been 236, in
the United States, against 281 last year,
and 2S in Canada, against 30 last year.