The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-07-08
IN THE WORLD OF BUSINESS
BRADSTREETS AND DUN &c CO.'S
FINANCIAL AND TRADE
REVIEWS.
The USUAL MIDSUMMER DULLAESS
Has Set I'm With Big Industrial
WOrIxs-Great Confidence in the
Autumn Trnde-ExceIIent
Crop Prospects.

New York, July 2-R. G. Dun G. Co.'S
| weekly trade review says:
Midsummer vacations have commenced in
many works, with the decrease of orders
usual at this season. This customary va.
cation is called a strike where agreements
regarding wages for the coming year have
not been signed, and the extensive strikes
or amalgamated iron workers announced
suly l Is Of this nature, but the strike of
coal miners In Illinois and other central
western states Is not and may prove COSTLY
In some iron and cotton works, wages have
Deen reduced, owing to low prices, one
cotton mill In Virginia closing because a
reduction was not accepted. With a bet
ter demand, the employees will seek an
agreement, and In Its absence the workers
before long, 80 that the situation is dis
tinctly of a midsummer character. Large
hopes are built on prospective demand
after the tariff bill has passed, but the
pressure in the market Of large importing
stocks may deter 1t. The general belief
is that removal Of uncertainty VIII In any
case increase business.
Since much of the future depends on
crops, the Frightening prospects are of the
highest Importance
Estimates by persons usually most pes
simistlc now far exceed any of a month
ago. one promising 5OOOOO,OOO bushe
wheat crop, with lower condition but
largely increased acreage of corn.
Cotton prospects are brighter, as the
crop or appears to be early rather than late
The movement of wheat Is small, west
ern receipts for the week being 65O.779
a sqSheI against sadnsts 29a last year and
against 2.l62172 sbushels last year, but a
strong effort to lift prices failed and the
close Is l 3Sc lower for the week, with
Cotton rose 1-Sc, with small sales.
The iron and steel industry hats at mid
summer, although the demand for finished
Is due to only the fact that the increase
Is not enough to keep all mills at work,
thus bringing better prices, which now
though not 10 per cent below those of
March Is. The export trade is Increasing
and large order for India has just been
taken at price said to be 50 below British
Coke production is again increasing, as
more ron furnaces S are going into blast and
in Anthracite coal. Many sellers are selling,
tin plate largely at $500 for full weight
against $3.50 for foreign.
textile and ,t cotton mills are euraing
prices scarcely changed, while wOelen
mills are gradually increasing work, with
better orders and prices inclined to ad-
vance q shade.
Enormous buying OF wool, 256 900, OOOs
pounds this year against 100 ,0O0, 900 pounds
last year, reflects speculation mainly and
some large lots have been sold three to,
five times since the revival
Prices are somewhat stronger at seaboard.
markets and so high in the interior that
dealings In domestic are restricted, amount
ing for two months to less than p 900 600
pounds against 55,000000 pounds foreign.
Failures for the week have been 241 in
the United States against 257 last year.
and 30 in Canada against % last year.