The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-06-25
Bradstreet's Report

Bradstreet's Report
NEW YORK, June A-Bradstreet's to-
morrow will say:
Reflection Of the advanced stage OF the
season is found In perceptible quietlng
down of distributive trade in many parts OF
the country, and accompanying this nave
been announcements OF the nxing OF peri
DDS of annual shut-downs IN many nous,
trial lines, but significant of the changed
conditions which now animate and control
business, as compared with corresponding
periods in previous years, are the contin-
ued large gains In. the volume OF panM
clearings over preceding years, quite 1avoI-
able reports from most OF the country
leading industries, notably iron ana steer.
in which next years wage scare IS peins
adjusted with unexampled ease, com
lively heavy exports of cereals and the
products Of most of the leading ports, ana
rather less than the usual shaking OF prices
common at this period of the year as the
result of the advance INTO the iast tian n
wheat prices came more steady tone ana
the growth of a feeling that perhaps the
bear" movement in prices may be over
done, as was the "buli' movement, whlcn
eliminated a month ago. With the excep-
ton of a rather spotted condition or the
whole crop in different states, chiefly as the
result of too much moisture, the crop STU
alton in the country, as whole, has rather
improved. Less Is heard of extravaganza
wheat crops, but the production OF crop
of wheat in excess of all previous totals
is expected.
The iron situation has not developed suf-
flciently to allow of any very pronounced
forecasts of next seasons business. Less
satisfaction is expressed In the wooden
goods trade, and business is classed as
slow and Improbable, with raw wool re-
fleeing dizziness in manufacturing and in
unchanged eastern quotations
Cereal exports are nearly enough smaller
than in recent weeks, but are stu IN excess
of preceding years. Wheat shipments for
the week aggregate 3,799,470 bushels, as
against A, 1896 600 bushels last week, but COM
pared with 900 bushels in this week
year ago.
Corn exports show very slight falling
off aggregating for the week 1902 ,52l BUSH
els, against 4.1U6,000 bushels last week and
22S1 900 bushels a year ago.
Business failures for the week in the
United States are abnormal, numbering 220
as compared with POI last week, and 21o In
this week a year ago.
Business failures in the Dominion of Can
wit 10 last week, and II in this week year
ago.
Financial Statement
NEW YORK, June A.-Bradstreets FL
nancial Review will say tomorrow:
Early in the present week the .specula,,
ton degenerated into dull, professlonal
affair." Prices sagged off. without mucn
animation being shown and later on rallied
under manipulation directed against the
short interest, which had apparently a.
tained considerable proportions. Al the
close of the week stronger tone appeared
in the favorable crop advces from the west
and the belief that the occupation OF san
tiago would lead to an early peace. There
was lack of public participation through n
quality, while Europe has hardly been an
appreciable factor. The dizziness and sag
ging tendency are ascribed 10
number of influences. The concentration
of attention upon the government bond is
sues has been one of the chief OF them,
though the success of the popular subscrip-
ton and the absence of any disturbance in
the money market from that cause tend to
deprive it of further force: 1t may, indeed,
be noted that the market for railroad bonds
has been exceptionally strong and that
good demand for investments has asserted
itself, extending from the high grade bonds
to issues of secondary grade. The mar
ket, however, could hardly fail to be chi led,
temporarily at least. by the approaching
influence, Of the stamp duties OF the war
dealings. loans of money and transactions
in foreign exchange with more or less Sc
verify. In fact. as regards the stock mar
ket, there Is some trepidation shown as to
whether or not the institution of tax of
So per 100 shares will not tend to reduce
public interest. The exchange has, 1t Is
true, taken the matter boldly, and resolved
that the customer and not the broker shall
be charged with the tax, and 1t remains to
be seen whether the additional cost to
speculative transactions Will be disregard
| ed or not. 1t would seem tnat speculative
interests have been somewhat discouraged
by the declines in the price of grain and
the conflicting accounts Of the crop results
and prospects. The bull movement OF prices
during the past year has had for Its foun-
dation the high prices at which American
| breadstuffs sold and the heavy foreign de-
mand for them. Consequently the drop in
prices and the persistent stories of damage
to the crops have had more or less effect,
particularly as they are accompanied by
indications that western railroad earnings
will not compare favorably with those OF
the last few months, when the exceptionally
heavy grain movement was in progress In
fact, it was claimed that this was the cause
for the stoppage of bullish support and
manipulation in some of the prominent rail-
road stocks and the hestatirg tone the
market assumed as soon as doubts as to the
crop began to appear. The rally later on
was, indeed, based on the apparent fallacy
of the crop damage stories.
Dun & Co.'s Review
va TN.,,,2 o. Co'c