The Portland daily press., 1898-07-16
WE CONTINUE TO PROSPER.
Americans Learning Outside Affa irs Can
not Injure Business.

New York, July 15.-R. G.. Dun &
will say:
The destruction of Spanish fleet.
Europe's quick appreciation of the feat,
the wearying flags of truce at Santiago
and at last the surrender, have all in
fiuenced some markets day by day. But
Americans have grown, and see that not
many outside matters greatly influence
the business which enables them to mar
ket 81 ,21O, ga, 0l5 worth of domestic pro-
ducts abroad in year against $685. 052, :
o44 worth imported. Industries and bust
ness are at the naturally lowest point for
the year, and therefore the records are
more impressive. just when stagnation
Is customary very many iron mills are
crowded with orders for months, the
illinois rail mills until December or later,
with sales this week of 900 tons, and
structural works with few contracts for
10000 tons or more, while larger demands
appear for cars, plates and sheets and
better demands Tor pars at the East.
The fall shipments have just begun in
boots and shoes and works have smaller
orders than they want, though many
works for several months ahead, but
Others few, because they refuse contracts
at old prices. Leather costs more, but
yields slightly for common hemloca sole,
while prices of hides are decidedly weak
CT at Chicago. Behind all is great dis
tribution, by many dealers greater than
in May and extraordinary abundance of
pasture promises cheaper cattle. Ship
ments for the east in July have boen only
3200 cases less than last year, while de-
liveries in the first half of the year were
100, 900 cases smaller, but shipments are
now greater than in any former year and
Ia N 1900
IL is still between seasons for wool, but
q few purchases indicate some disposition
for business and the demand for wooden
goods Is better, though prices for some
have been reduced and the competition
as to serges seems likely to be exclusive
Sales of wool were but 7,641, 200 pounds,
5, so, 200 being domstic for two weeks of
ally, against "a, 572, 800 pounds last year,
of which 1866, 900 were domestic. One
sale of l, 500, 900 pounds territory at prices
lower than are being paid by Boston par
ties in Montana, looks like business in the
future. Cotton has been steady in spite
OF good crop prospects, owing to larger
foreign buying. The mills in this coun-
try are doing their share, and the demand
for goods is gradually growing better.
Wheat has been dropping in prices I'M
der estimates of $50, 000,0 900 to 700, 600, 900
bushels this year, which seem to be at
least as well warranted as over conserva-
tive estimates by the Same parties last
year. The foreign outlook has much i'm
proved and the decline in price during the
week was about &c for spot and 2
for the nearest option. Corn exports are
decreasing as is natural, but the price is
nearly 1o stronger.
Money is coming into New York heavi-
ly in July, commercial loans are hard to
find and the interior is paying its debts
in advance. 1t is to New York reyela-
| tion of the enormous prosperity attained
at the West last year.
Treasury receipts for bonds cause no
disturbance and the greatest foreign bal
anoes ever known give certainty that no
foreign demand can disturb the market
for long time to come.
Failures for the week have been 2l5 in
the United States, against 1858 last year,
and in Canada % A:ainst 81 last year.