The record-union., 1898-08-27

bushels in 1896; 1,S71,92S bushels in
1895. and 342O,COO bushels in 1894
Business failures in the United States
this week number 172, against 1875 last
week, and compared with 21O in this
week a year ago; $50 in 1896; 100 in
1895, and 1872 in 1894. Business fail
ures in Canada this week number y.
against % last week; % in this week
year ago; 81 in 1896. and AZ in 1895.
NEW YORK, Aug. OR. G. Dun
& Co.'S Weekly Review of Trade
will say tomorrow:
The volume of business reflected in
exchanges at the principal clearing
houses is 20.4 per cent. larger than last
year, and 26S per cent. larger than IN
1892, heretofore the year Of largest
business and highest prosperity ever
known. Part Of this increase was due
to speculation at New York, but there
are most healthy increases over the
best Of the previous years, and though
in some branches business is not salts
factory in character, in nearly all 1t IS
in volume larger than ever before.
No unfavOrable change appears m
the prospect Of crops, upon which the
welfare of the country largely depends,
nor is there present or threatening
financial disturbance. Europe has not
wearied of buying American securi-
ties, although some spectators have
been selling, nor is there shown any
want of confidence among American
investors. Comparisons as to foreign
trade are apt to mislead, because i'm
ports last year were extraordinarily
small after the big rush to anticipate
new duties, while exports We're begin
ming to show the phenomenal demand
which made the year quite the most
remarkable in our history. Hence of
| the decrease, 13 per cent. from New
| York in August thus far, is not alarm
| ing, but sales Of products yet to DE
followed are large and have stopped
any advance in the current rates OF
| foreign exchange. Nor is 1t at all
| disheartening that imports at New
| York for the month thus far exceed
last years by nearly $5,O00,OO0, since
| last year they fell below those of 1896
by more than $4,O0O0OO.
Wheat goes down 3 cents this week,
| as If there We're no foreign demand
coming, the previous concert Of farm
ers to keep back wheat, the crop being
certainly very large, tending to en-
| courage a conspiracy Of traders against
| them, which thus far has entire con-
troll of the market. Atlantic exports
for the week have been 2,731 ,594 BUSH
els, against 3,56S, 500 last year, and for
| four weeks Of August 13, 1O1 ,O79 BUSH
els, against 1887 ,63S last year, while
Pacific exports, 254 239 bushels for the
week, against 77O,S79 last year, have
been for the month 1868, ,S94, against
| 1,405, 1888 last year.
| 1t is wise to remember that the for
| eign demand on account of last year S
shortage is still tapping over, while
reports show that foreign crops are
about average.
The output of iron and steel no longer
| measures the demand. and the stipu-
| lated stoppages Of furnaces in the
Shenango and Mahoning Valleys has
raised the price of Bessemer pig at
Pittsburg to 5000, and of gray forge
to 1926, without any certainty what
ever that such prices can be main
tanned when the valley furnaces re-
sumo operations, as some of them are
now doing. The natural result is that
the Pittsburg region is so much the
less able to compete with the great
Illinois combine just formed, which is
getting all the business it can do, and
promises to turn out iron at less cost
than any other works in the country.
AT all points bars promise larger
output than ever before, and structural
forms and plates are in heavy demand,
while the tin-plate producers have felt
themselves obliged to advance prices
about 10 cents per box. and the sales
are said to be very heavy.
Failures for the week have been 1I9
in the United States, against 223 last
year, and 26 in Canada, against 81 last