The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-07-26
BALTiAORA
Dun X eos REVIEW.
Natural Reaction Follows Vast Grain
shipment.

'H'lhh'h''
New York. July pr. e.. Dunn X
Co. in their weekly review Of trade will
say tomorrow:
A state OF war does not disturb busi-
ness. But reaction after "A phenomenal
movement Of grain causes relative loss.
which many mistake for decrease in
the volume Of trade. SO much grain
has been required and shipped during the
past twelve months that "A decrease was
inevitable, and Granger and Pacific
roads show IA loss in earnings, even com
pared with 1892, though not much yet
compared with last year.
After the surrender at Santiago, bare
~ Il week Of rest has preceded the sail
ing of the Porto Rico force, but mean-
while the Presidents proclamation open
ing Santiago to trade on terms singularly
favorable to inhl bitantS there, and the
rush to build UP business III Eastern
Cuba. are occupying the thoughts OF
many e~nterpriSing firms. Reduction OF
one-half in the tax heretofore paid. with
honest instead Of Spanish administra
tIOIl DIIiiSS llbliit w ,ubui ~
meaning Of the change and they also
learn To use money Of which u paper
dollar is as good as gold, which for them
is a long step forward.
In the stagnant midsummer season,
with business larger than ever before,
the great manufactures nearly all share
the gain. Once before ia 1890 with an
extraordinarily small movement prior to
July. the shipment of boots and shoes
was larger than this year but in no
other year have shipments in three weeks
Of July been as large. Print cloth works
At Fall River have in part combined 10
curtail production. half the spindles OF
that city being idle for a month. but in
other branches Of the cotton goods trade
no such heroic measures appear neces-
sary. There is an increase in the de-
mand for wooden goods. although in
some lines slow and Disappointing, but
the number Of establishments at work
increases. though the mills are every
where crowded Sheets and bars are in
better demand than heretofore and the
prolonged weakness in cast pipe, which
usually requires nearly 100000 tons OF
pig in a year, may presently be cured.
With abatement Of foreign needs and
prospects Of excellent crops in many for
eign countries wheat has declined during
the Week tHfeP cents III price. IOtWltn-
standing exports from Atlantic ports
amounting to 1.937.092 bushels, -four in
Guided. against 1.516.397 last year. and
from Pacific ports 577,755 against 80.
o23 last year. Total exports for three
weeks nave been 1890. go bushels. -four
included against 5.194.4SS last year.
Corn still goes abroad in astonishing
quantity. all the circumstances consid-
cred. exports having been in three weeks
J.Ii1,S41 bushels against G.G3J.395 last
year. The price has not changed in spite
of the decline in wheat. The closing of
some New England mills has doubtless
affected the price of cotton to some ex-
tent. and vet the crop reports ire suf-
f~iciently favorable to depress prices an
eighth during the week without other in
%fiuence. The collapse Of n strong pool
to advance prices and control the market
is also reported.
Failure for the week have been DOT i'm
the United States against 221 last year.
and Il in Canada against % last year.
TOTAL BANK FAILURES.
New York, July 22.-Thc total bank
clearings for the week in the United
States were 81. 152. $3.50. 653; per cent in
crease 30. Exclusive Of New York
S4l6.O31,J3O; per cent. increase %.
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