The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1897-07-24
Sales of the Month Evidence That II is
Well Founded.
For Once in Many Years the Out
look for the Farmer is One OF
Prosperity-WiI1 be Able to Sell
His Wheat at a Price That Will
Pay a Profit Over the Cost of
Cultivation.

NEW YORK, July 23.-Bradstreet's
tomorrow will say:
The widespread confidence that there
will be a marked revival in general
trade in the fall continues to grow, and
with it material evidence that 1t is Well
founded. Chicago jobbers in clothing,
dry goods and shoes, and manufactur-
ers there and elsewhere of pianos, Or
gans, wagons and farm implements re-
port that fall business has begun, which
is much earlier than usual. The dis
1ribution of general merchandise from
ST Louis is a little less active, although
trade there is favorable. Like reports
are received from Pittsburg, Savannah,
Omaha, Milwaukee, Duluth, Minneapo-
lis and st. Paul. where merchants are
feeling the influence of prospectlvely
large crop of wheat, and from Calves
ton and other points in Texas, on the
favorable crop outlook and confidence
in an increased movement of merchan-
disc next fall.
Demand for supplies for shipment to
the Clondyke gold region has made
July the busiest instead of the dullest
month of the commercial year at Sc
attic, and has had influence on sales
of staples at Tacoma, Portland and
San Francisco.
The worlds wheat crop outlook con-
tinues to favor the United States much
as it did eighteen years ago. The out
look is that Russia, alone, of all other
wheat exporting countries, will be able
to compete with the United States. The
advance of more than 20 cents bushel
compared with q year ago, in the face
of a domestic wheat crop probably 1OO,-
600 900 bushels larger than last year,
and the prospect for a higher level from
importing countries, explain why the
American farmer is to secure his pro-
portion of the advance and the coming
era of prosperity. That he is alive to
the situation is indicated by a ten
dency to hold back wheat already har-
vested, notwithstanding higher quota
lions.
Exports Of wheat flour included as
whea) from both coasts in the United
States and from Montreal this week
amount to 1878, 2SS bushels, an in
crease of about $4,000 bushels COM
pared with last week, for which ship
ments from the ports Of New York and
Baltimore are largely responsible. The
corresponding total in the like week
last year was 3,073,0 bushels, in the
week two years ago /, 265, 900 bushels,
three years ago 3,6SS,0 900 bushels, and
the corresponding period in 1898 it was
4163, 600 bushels.
There are 220 business failures re-
ported throughout the United States
this week, as compared with PAT last
week, $50 in the week a year ago, 239
in the week two years ago, 237 three
years ago, and 4S9 in the CORES pond
ing period in 1893. There were p bus
mess failures reported from the Do
minion of Canada this week, against
So last week, 81 in the week year ago,
and % two years ago.
NEW YORK, July Or. G. Dunn
& Co.'S Weekly Review of Trade will
say tomorrow:
1.-The end of uncertainty regarding du-
ties ON imports gives greater confidence
alike to those who have opposed and
those who have favored the change.
The great change in stocks, particular
~ in those of the Granger lists, re-
fleets assurances of heavy crops. The
remarkable rise in wheat, notwfth-
standing the assurance, is based on
heavy buying for export There must
be added another item of confidence
scarcely observed a week ago. The
heavy increases in receipts of gold,
whether ON one side of the border or the
other, swelling receipts at the mints
and the banks of this country, and is
the yield from new regions, answer cur
rent expectations that it may have
an influence akin to that of the gold
discoveries in California
The one retarding force, the strike of
the coal miners, has caused the closing
of a few manufacturing works for want
of fuel, but negotiations for a settle
ment are still being pushed with hope
1.-The wheat market is the sensation
of the month. Since July 9th the price
has risen II cents, but Wednesday a re-
action of cents was not surprising,
but the close was "a of a cent higher
for the week. 1t is notable that this
rise came in the face of highly en-
couraging crop news, which is not dis
puted, and had for support nothing but
foreign conditions and demand. Actual
buying for export has been at times
heavy, and loading of cargoes here and
in California for countries which usual
" contribute to European supplies
greatly strengthens the impression pro-
duced by Continental reports. That
there is speculative handling behind the
great advance is evident, and the buy