The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-06-18
THE CONDITION OF TRADE
A Firm Week in Spite of Letters
Collapse.
MANY OFFERS FOR BONDS
Tho Loan Has Been Subscribed Three
Times Over - me Recess Of Elk
ports Over Imports A
Big Balance.

New York. June H.-R. @. Dun & Co.'S
Weekly Review Of Trade will say to-mor-
row: Tho passage Of the war tax bill. the
offerings of bonds and the collapse of Lei
ter and cash wheat have made the week
somewhat firm. In spite Of some features
which cannot be justified. the tax bill
was approved as probably the best that
could be obtained from congress this
year and CAV assurance Of needed reve-
nue. for the emergency. Its bond provision
has already called offers for more than
three times the amount desired. n it
will probably prove the most successful
loan ever invited by the United States. A
great victory In tho field could hardly be
more important, and especially in its in
uence on foreign opinion. No less sig
nihcant was the excess of exports over
imports In May by $5S, $50, $50. making a
States Of ssh. SIS. 037 in II months of the
fiscal year. while the imports of gold
were 500. o26. $50. though in no previous ifs
cal year have the net imports of gold ex-
ceeded 81, 4ss. 127. in 1882.
Not less important is the Official report
showing that this nation has supplied to
others. 10, O5s, 2s bushels of wheat and 2O4,-
eSVtNVV OoSAiVAo ia Will III d y III
out checking receipts from farmers. and
sees wheat fall 20 cents in a week because
a crop Is promised greater than the last
by 100, 00O, 900 bushels. This decline would
have come sooner had not Letter looked
for larger gains. but the benefit to this
country by the average advance Of nearly
Is cents for the crop year on wheat ex-
ported has been about $4s, 900, 600 and to
producers much greater.
In corn, on the other hand. the cash
price has declined only / cent and the de-
mand continues to be extraordinary.
Western receipts amounting to ASS. 202
bushels against asa. 1894 bushels last year
and exports amounting to $685.. 600 bushels
against 1.321, as bushels last year.
The cotton movement continues large
for the season, although the price has
advanced 1-16 of a cent in spite of the ia
vorable crop prospects.
The break In the price of 16-ounce clay
worsted to 1870 has somewhat discour-
aged what promised to be a healthy mar
ket. Sales of wool were made extremely
narrow by the wide differences between
excited Western holders and manufac-
turers, who have an uncertain coming
season to face.
Pig iron is extremely dull. though Bes-
semer holds last weeks advance and
other grades are not Quotably lower. No
decline I'm consumption appears, and
while bars are weak. with short time the
rule In Eastern mills, they advanced pa
at Pittsburg. while Chicago re-
ported heavy season contracts still COM
ing from wagon, car and other manufac-
turers. Heavy sheets are better at the
East, but thin are not better anywhere.
Structural works are full for the sum-
mer and have had two remarkably good
weeks at Chicago with building and
bridge orders. Plate mills are well en-
n at Chicago the demand for
pipe is better. especially from the Pacific
coast.
Shipments from there of rails in May
included some to Sweden. Belgium. South
Siberia and three other coun-
tries, while orders from Calcutta ave
been taken.
The anthracite coal output in May ex-
ceeded the allotment by 1873 per cent.
Failures for the week have been 20 in
the United States against 234 last year and
20 in Canada against 3s last year.