The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-05-22
FINANCE And TRADE
The Commercial Agencies Send Out
Encouraging Reports.
EVIDENCES OF IMPROVEMENT.

They Come in the General Increase OF
Commercial Loans, Mostly For East
ern Merchants-The Exports of Gold
Have No Influence on the Markets.
New York, May 22.-R. G. Dun g.
Co.'S weekly review of trade says:
Unmistakable evidence of improvement
comes In the general increase Of COM
mercial loans, mostly for eastern mer-
chants or companies though some well
known houses in the middle west ap-
pear with considerable rediscounts
from the south. Not for long time
have commercial loans been fully half
the whole. The distinct change gives
proof that new business has been
larger than many have supposed.
Receipts of money from the interior
exceed shipments s1,5OO00O, mostly
from the middle west. Exports of gold
have no influence, and only signify the
willingness of Russia to pay price
for the gold needed. The excess of mer-
chandise imports to answer demands
for half year to come involves a
greater excess of exports when the
anticipatory movement ends and crops
begin to move, which fact renders
large outgoes of gold less likely and
gives the country stronger position In
International markets. Meanwhile there
is continuing increase, distinct though
gradual, in the volume of business, IN
demand for products of manufacture.
and, considering the time Of year, in
movement of grain and produce.
Western wheat receipts excel last
years for the week 2,3s4,1S9 bushels,
against 1,73S,9S6, and Atlantic exports
were 1,670S13 bushels, flour included
against 1907 91 last yea AMI for
tsree weeks 4,77s,722, against S,SS5,910
last year. Western receipts of corn
were 1,655,677 bushels, against 1,f9S.670,
and Atlantic exports 2,1SS,S25 against
1908 ,74S last year, notwithstanding the
enormous increase hitherto. Wheat
again cheated hopeful buyers and fell
nearly four cents closing 31s lower for
the week. Corn was a shade weaker.
Cotton once more advanced to rs cents,
but fell back to tx, with poor support
here and abroad. Both the volume of
stocks and the condition of domestic
and foreign markets for goods hinder
advance, and later acreage reports are
better
The iron industry has quite an in
crease in new business, though not in
all branches. Part was due to the
rupture of the steel beam pool, and
the fall in price from $1.55 to $l.25 nom
inaly quoted, and some good struc--
tural contracts were at once secured.
Part is due to a better demand for
plates and for pipe, of which one large
contract for Indiana fields was placed,
and part to growing needs for cars and
vessels.
Sales of wool decrease, though still
greater than when all the mills were
busy, but manufacturers are doing
scarcely anything, most of their pos
sible demand for months ahead having
been supplied The strike of clothing
hands here somewhat restricts the new
demand. Cotton goods are without
change in prices, print cloths being
still at the lowest on record, and the
demand is still Indifferent, with talk
of temporary closing Of mills at the
south.
Bradstreets' review says: The slight
improvement in trade Is in the ten
dency of business to increase at a few
cities in the northwest, on the Pacific
coast and in South Atlantic and gulf
states. There Is increased buying at
Baltimore, Atlanta, Birmingham and
New Orleans where trade has revived
on the announcement that northern
Louisiana, Mississippi and Arkansas
flooded districts are being placed under
cultivation, and that the damage done
is less than expected.
There were 245 business failures
throughout the United States this week
which is not far from what may be
called normal. This total is compared
with PSI last week, 2l6 in the third
week of May, 1896, 206 in the like week
of 1896, 237 in 1894 and 247 in the cor
responding week of 1898. There were
81 business failures reported from Cam
ada this week, compared with 81 last
week, IS in the week a year ago and %
two years ago.