The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-07-02
SHOWING IS SATISFACTORY
BRADSTREETS SUMMING UP OF
BUSINESS Outlook BRIGHT
First Half of the Year Closes with
Good Promise for the Future
Favorable Crop Prospects and
Foreign Demand for American
Augury.

Augury.
NEW YORK, July 1.-Bradstreets
tomorrow will say:
In a period as usual devoted large
ly to stock taking and holiday and mid
summer influences making for mar
row and restricted trade, there is little
that is novel TO be found regarding
current distribution. The first half Of
the year closes with a very satiSfac-
tory showing possible in many lines of
trade, as evidenced by the returns Of
bank cleavances, railroad earnings, re-
ports as TO the conSumptive and dis
tributive demands, and last, but not
least, by that infallible barometer of
the mercantile world, business failures.
HarbingerS of the future are found
in the generally favorable crop pros
poets, not only of cereals, but of cot
ton, fruits and most products of agri-
culture and a continued heavy foreign
demand for American products.
Few important events are chronicled
this week in the business world. The
semf-annual shut down of many indus
trial concerns, particularly those in
iron and steel and glass and some tex
tile manufacturing concerns, has been
announced TO occur in the first week in
July, but this has been without much
effect upon the prices of those staples.
AdviceS from the West, indeed, lead to
the belief that this shutdown, in some
cases, may not occur at all this year,
while in others the time devoted to
repairs and stock taking will be con-
siderably abridged. The situation In
iron is a rather mixed one, most COM
plants coming from the West. 1t is
significant, however, that the fall in
coast freight rates has been credited
with improving the demand for iron and
steel for export, and considerable or
ders have been already booked. notably
some steel rails for Egypt and Mexico,
while orders for $1,000 tons are report
ed refused on account of the time
limits set Pig iron and steel rails re-
fleet the lessened activity in a shading
of prices. Doubts are expressed as to
the ability of the pig iron makers to
control production, and the next two
weeks will probably be full of interest
to the iron trade generally.
The tone of the wheat market con-
tinueS bearish, Notwithstanding thai
the worlds visible supplies have de-
creased 1900, 900 bushels in two weeks
and that the proba bilties are that Wis
ible stocks of Old wheat on August l
Will be as low, if not lever, than last
years. which were the smallest on
record for seven years. A heavy fall
ing off In the condition of the Kansas
wheat crop Is indicated.
Rather less steadiness in prices IS
observable, me st cereals, pork lard, cot
ton and several makes of pig iron be-
Ing lower for the week, while the list
of advances is exceedingly small
Steadiness has been a feature, how
ever. of raw wool, hides and heavy
leather, coffee, sugar and print cloths,
copper and lead.
A large distribution of bleached cot
tors at price concessions has been a
feature and the demand for 6reworks
and flags this year is conceded to be
heavily in advance of the past year.
Cereals still move abroad in quantities
unprecedented for the time of year.
Wheat shipments for the week aggre-
gate 4,716E01 bushels as against $780,
47S last week and 2,77S,S4S in this week
a year ago; 2, 601 ,096 two years ago, g.
007 OBJ in 1895 and 1,S50,20O in 1894.
Corn exports show a decrease from
last week, aggregating 2, Col $50, against
S.G92.321 last week; 1928 3S a year ago;
1,59S631 two years ago; 1888 in 1895,
and 100 in 1894.
In spite of unfavorable features there
were fewer failures, smaller liabilities
and consequently smaller assets this
year than in any previous year for
four years past.
Business failures number 6,429, per
cent fewer than a year ago; Is per cent
less than two years ago, and only
Fer cent larger than in 1898. Liabilities,
100, are smaller, aggrega1ng $72,12O,341,
z3 per cent smaller than last year; 81
per cent smaller than two years ago;
?.5 per cent smaller than in 1885, and
81 per cent below those of 1893
Business failures in the Dominion of
Canada for the six months of the pres
emit year make a decidedly good show
ing. They Number 8l3 involving IS 799,-
643, decrease of "a per cent in number
and in liabilities as compared with last
year, and making still better COM
rarisons with earlier periods.