The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1898-06-04
WEEKLY REVIEW OF TRADE
FIRST MONTH or WAR SHOWS FALL
ING OFF IN FAILURES.
This is Considered EncOuraging-The
Drop in wheaton All the Gre ut In
ydustries the Cotton Manufacture Only

-
Drop in wheaton All the Gre Mt In
,dustries the Cotton Manufacture Only
Gives Some Sign of shrinkage.
New York, June 3.-R. G.. Dun & Co.
in their weekly review of trade will
say: May having been the first full
month of actual war; the fact that fall
ures in that month were smaller, even
thought but little, than in the CORE
spending month last year, and nearly
10 per cent. smaller than in May, 1896,
is somewhat encouraging, the more
because a year ago the remarkable
decrease in May gave proof of the
heavy improvement in business which
made the year SO gratifying in general
results. Details show that large fail
ures were eight in manufacturing for
$2,3S50 900, this year, against thirteen for
$685. 900 last year, and in trading five
for $690,000 against ten for S1,572,077 in
1897. Hesitation in extending usual
credits soon after war began naturally
affected weak more than strong con-
Germs, but it soon gave place to steady
and increasing confidence.
Wheat dropped "a cents from the
highest point after the May deal Gull
minated, and has since been weaker for
July because of accounts promising an
vial pvt will
paid for No. red in elevator, and a
foreign demand taking 1924, 493 bushels.
flour included, from Atlantic ports, for
the week against 2,165,7S7 last year, and
1856, 439 from Pacific ports against 1929
last year, the decline evidently hastens
the marketing of surplus, and gives the
new crop better chance. 1t Is not less
surprising that western receipts for
the week were 4,263,520 bushels against
2,099,794 last year, although the crop
has been by some supposed almost ex-
hausted, and corn receipts We're also
7,076,491 bushels against 6116,523 last
year. Exports of corn for the week
have been 4,S31,S2o bushels against L.
936,563 last year, and for the first time
in history exports of each grain have
about reached 2oo,o0o,000 bushels in the
same year.
OF all the great industries the cotton
manufacture only gives some sign of
shrinkage, cotton having dropped six
tenth during the week after rise in
goods averaging for the month about l
per cent, thus rendering the marketing
of accumulated stocks somewhat more
difficult. But print cloths have advanc-
ed, and in most staple goods the de-
mand is improving. While early esti-
mates are always questionable, evil
dence does not yet warrant predictions
of a great decrease In yield of cotton,
and a few mills which have large guam
titles of goods unsold are now idle and
waitink Wooden mills are encouraged
by somewhat larger demand for
goods, in part from government orders,
and are averaging about / per cent.
better prices for goods than a month
ago. There Is not much demand for
| wool, which is still held in the main
above the views of manufacturers, and
prices have declined an average of half
a cent for the month. Evidently the
magnitude Of stocks held by the man.
ufacturers is still unrecognized by most
dealers, and western holders are insist
ing upon much higher prices for wool
than can be obtained at the seaboard.
The demand for boots and shoes con-
tinues heavy, for although 1,7S6, 100
cases have been shipped this year from
Boston, against 1,741,607 in 1895, the
largest previous year, according to the
Shoe and Leather Reporter, and 1913, 900
cases, or 23S per cent. more than in
1892, urgent demands are coming from
iobbers in all parts of the country for
delivery two months ahead of contract,
| indicating distribution far greater
| than had been expected.
The iron and steel manufacture leads
all others in gain over previous years,
it's consumption of pig being apparent
| ly more than million tons month, or
| 1000 tons each week against 170,7S0
ons per week In May, 1892, an increase
of 1876 per cent Above all others in
| significance is the wholly unprecedent-
ed demand from agricultural imple-
| ment works, which throw In the shade
all their past ORDERS while the plate
and rail manufacturers are beating all
records, partly with foreign orders, one
| for Canada having been placed at Chi
cago for 10000 tons.
Failures for the week have been 222
| in the United States against 241 last
year and 16 in Canada against 80 last
year.
en- ROYES or corn