The herald., 1897-06-26
Bradstreet,s Reviews

NEW YORK, June 25.-Bradstreet's re-
view of general trade tomorrow will say
that the persistent misrepresentation of
the actual state Of trade throughout the
country during the past month in an ap-
parent endeavor to make the prospective
Improvement in business appear to bN its
present condition, demands an examina-
ton as to the facts, and Bradstreet's pre-
sents condensed results OF interviews with
representative manufacturers and mer-
chants at more than fifty important COM
mercial and industrial centers east Of the
Rocky mountains. The demand, except In
few lines. is less pronounced than 1t was
two months ago. There is no material in
crease in the volume distributed compared
with year ago, and prices for many
staples are lower, but there has been an
Improvement compared with the situation
prior to the presidential election of last
year and as contrasted with last January.
Many of the larger merchants and manu-
facturers characterize the business record
for the first half or 1897 as n tlisappont-
ment In contrast with anticipations in De-
cember. 1896. On the other hand conf
dence is widespread in a revival of demand
this fall. or the three great manufacture
ing industries, iron and steel, cottons and
woods. the first shows relatively the most
improvements, and woolens next, although
| tariff delays have taken the edge off de-
mand In that line and permitted importers
to stock up with nearly two years sup
plies. Cotton goods still suffer from cut
l,rices, excessive competition and heavy
production. There is a better demand for
silks, millinery and confectionery, which,
aside from the prosperity of The bicycle
Industry, constitute exceptions. Higher
prices for leading cereals. for meats and
Havana tobacco are noteworthy. and re.
fleet, respectively, unusually small sup
plies OF wheat and strength o: the control
OF the meat supply and existing conditions
In Cuba. Exports of wheat flour included
as wheat from both coasts of tile United
States and from Montreal this week
amount to 2,156,24S bushels, compared with
2,347,O 600 last week. 2,S37,00 in the week one
year ago. 1,946,0OO two years ago, 1,716,0 ,00O
three years ago. and as contrasted with
1,911 600 in the like week of 1893.
There are 215 business failures reported
throughout the United States this week,
compared with 226 last week, 21S in the
week year ago, 215 two years ago, and as
contrasted with 1S9 in the thir,l week Of
June. 1894. Only II business failures are
reported from Canada this week. against
"a last week and 10 in the week a year
ago.
FINANCIAL REVIEW
Bradstreet's review of the stock market
creased considerably, 1t is stu by no means
a very broad speculation. and the decided
advances in so many leading stocks seem
due largely to inside support o. TO Dur
chases by large interests that have in late
years taken little part in Wall street. Lon
don has been occupied with the jubilee
celebration, but while Americans have
been strong there, it is in the main re-
Election of movement here and the British
public displays no very marked tendency
to interest itself In our securities. Com
mission house buying here has grown. but
there Is general complaint that it has not
done so in proportion to the general 'ad-
vance in prices and the market at inter-
walls has become dull. Professional traders
who realized profits have several times en-
deavored to provoke reaction, but recent
experiences with the market does not en-
courage operations on the short side of the
market The appearance of some friction
in the senate over the wool schedule of
gree of speculative hesitation, and the
roads, expectations of much better things
In the near future, encouraging talk as to
the business outlook and rumors of in
railroads all have combined to maintain
sponsible for the present rise. The market
has paid little attention to the strength of
foreign exchange, or the shipment of some
strong in investment and speculative is
sues. participating in the improvement.
Municipal bond issues find ready market.