The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-26
Dun Sees Improvement, Brad.
street Does Not.
is NO STEP BACKWARD
IMPROVEMENT A MISREPRESEN-
TATION SAYS BRADSTREET.
SLIGHT DECREASE OF FAILURES
Some Improvement Since Before elec-
tor, bu; the Record for First Half
ofi8e7 is Disappointment in

tior, bur the Record for First Half
1897 is a Disappointment in
Contrast With December.
New York, June 25.-Bradstreet's to-
morrow will say:
The persistent misrepresentation of the
actual state of trade throughout the
country during the past month in appar-
ent endeavor TO make the prospective i'm
provement in business appear to be its
present condition, demands an eXamina
ton as to the facts, and Bradstreet's
presents condensed results of interviews
with representative manufacturers anu
merchants at more than fifty important
commercial and industrial centers east
Of the Rocky Mountains. The demand,
except in a few lines, is less pronounced
than it was two months ago. There is
no material increase in the volume dis
tributed compared with a year ago and
for many staples are lower. But there
has been an improvement compared with
the situation prior to the presidential
election of 1896. and as contrasted with
last January. Many of the larger mer-
chants and manufacturers characterize
the business record for the first half of
1897 as a disappointment in contrast
with anticipations in December, 1896.
On the other hand confidence is wide
spread in revival of demand this fall.
OF the great manufacturing industries,
iron and steel, cotton and woolens, the
first shows relatively most improvement
and woolens next, although tariff delays
have taken the edge off demand in that
line and permitted importers to stock
up with nearly two years supplies. Cot
ton goods still suffer from cut prices,
excessive competition and heavy produc-
ton. There is better demand for silks,
millinery and confectionery, which, a
side from the prosperity of the bicycle
industry, constitute exceptions. Higher
prices for leading cereals, for meats,
and Havana tobacco are noteworthy, and
reflect, respectively unusually small sup
plies of wheat, on the strength of the
control of the meat supply and existing
conditions in Cuba.
Exports of wheat (four included as
w
States and from Montreal this week a.
mount to 2,156,246 bushels, compared
with 2,547, 900 bushels last week, 2,S37,-
900 bushels in the week one year ago,
1,946, 900 bushels two years ago, ill.,
900 bushels three years ago and as con-
trasted with 1871 900 bushels in the
like week of 1898. Exports of Indian
corn amount to 2,2S1, S61 bushels this
week, compared with 1,924,000 bushels
last week, 1,736,000 bushels in the week
a year ago, $4,000 bushels two years
ago, $4,000 bushels three years ago and
as contrasted with 100000 bushels in
the like week of 1893.
There are 215 business failures report
ed 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 third
week of june, 1894. Only IL bust
ness failures are reported from the Cana
dian Dominion this week, against 81 last
week, 10 in the week a year ago and
% two years ago.
DUN & CO.'S. REVIEW.
New York, June Or. G. Dun and
Company's weekly review of trade to-
morrow will say:
There is no step backward in business,
although the season of midsummer quiet
is near. Improvement continues, gradual
and prudently cautious as before, al
though in many branches evident, where
no signs of it appeared a few weeks ago.
Business men of the highest standing in
all parts of the country, having gradual
iy perceived that the tide has begun to
rise, are regulating their contracts and
investments and their plans for the fu-
ture with a confidence quite unknown to
them short time ago. Great changes
before the adjournment of Congress arc
hardly to be expected, but removal OF
uncertainty is with reason expected to
bring into operation buying forces which
have been restricted for months.
The main factor at this time is the
steadily frightening prospect for crops.
Harvesting wheat has already begun in
some winter wheat States with surpris-
ingly good results in the central region
and California, SO that 100000 tons
is now called the minimum from the
latter State and statisticians Of repute
calculate on sixty million bushels of
winter wheat beyond the government es.
SCpTIuS wheat 10 uOluS
bly, we'll with practically unknown in
crease of acreage. The price has adj
vanced ~ cents during the week with
a decrease of 100000 bushels in west
ern receipts and Atlantic exports of only
AS, 947 bushels, -four included, against
1,713,961 last year, but it is just the
season when figures have no value except
as proving how erroneous were estimates
of the crop of 1896. Cotton was lifted
an eighth without reason and has fallen
back as much, because everything points
to a larger crop than has been commonly
expected.
Iron and steel products average small
fraction lower in published quotations,
but only because private concessions
which are now refused were by various
authorities complacently concealed two
weeks ago. Pig iron is frmer with
better demand at the east and at Chica-
go, but the impotence Of valley furnaces
to resume work keeps Bessemer and