The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-07-02
BRADSTREET'S
WEEKLY REVIEW
Close of First Half of Year
Satisfactory.
CROP PROSPECTS GOOD
SOME SEMI--ANNUAL SHUT
DOWNS ANNOUNCED.
MOST WILL BE SHORTER THAN USUAL
Tone of Wheat Market Continues Bearish-
Situation in Iron Mixed Cereals and
Provisions Unsteady--Large
Exports in.CereaIs.
Exports in.CerealS.

New York, July 1.-Bradstreet's to
morrow will say:
In period, as usual. devoted largely
to stock taking and with holiday and
midsummer influences making FOR mar
row and restricted trade. there is little
that is novel to be found regarding cur
rent distribution. The first half Of the
year closes with a very satisfactory
showing, possible in many lines of trade
as evidenced by the returns of bank
clearings. railroad earnings, reports MS
to the consumptive and dstribulye de-
mands, and last but not least, by that
infalible barometer of the mercantile
world, business failures.
HarbingerS of the future arc found in
the generally favorable crop prospects,
not only of cereals, but of Gotten. fruits
and most products of agriculture, and a
continued heavy foreign demand fol-
American produ IS. Few important
events are chronicled this week in the
business world. The semi-annual shut
down of many industrial concerns. par
tcularly those in iron and steel and
glass and some textile manufacturing
concerns, has been announced to occur
in the first week of 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 shut
down. in some cases, may not occur al
all this year. while in others the time
devoted to repairs and stock taking will
be considerably abridged. The situation
in iron is a rather mixed one. most com
plants coming from the East. 1t is
significant. however, that the fall in
ocean freight rates has been credited
with improving demand for iron and stee
for export, and considerable orders have
already been booked
The tone of the wheat market con
Times bearish, Notwithstanding that the
worlds visible supplies have decreased
100000 bushels in two weeks, and
that the probabilities are that visible
stocks of old wheat on August l., will b,
as low. if not lower than years, which
were the smallest on record for sever
years. A heavy falling off in the condi
ton Of the Kansas wheat crop is iiia
Gated.
Rather less steadiness in prices is OBJ
servable, most cereals, pork lard, cottor
and several makes of pig iron being
lower for the week while the line of adj
vance is exceedingly small. Steadiness
has been feature, however, of raw
wool hides and heavy leather. coffee
sugar and print cloths, copper and lead
A large distribution of bleached cottonS
at price concessions has been Il feature
and the demand for flags and fireworks
this year is conceded to be heavily in
advance of past years.
Cereals still move abroad in quantities
unprecedented for the time of year
Wheat shipments for the week aggre-
gate 4,71G,401 bushels, as against B.,
100, 40 bushels last week and compared
with 2,77S.S4S bushels in this week a
year ago, 2,G01 .O96 bushels in 1896. 2.
007 031 bushels in 1895 and 1850, zoe
bushels in 1894. Corn exports show q
decrease from last week. aggregating
2.601, 500 bushels, against $500. 32l
year ago, 1,59S.631 bushels in 1896
bushels in 1904.
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, eight
per cent. fewer less than a year ago, and
only 3 per cent. larger thin i'll 1898
Liabilities. too, are smaller aggregatina
$7212O,341. % per cent. smaller than
in 1895, and 81 per cent. below those OF
1893
Business failures in Canada for the
six months of the present year make 4
decidedly good showing. They number
S13, involving So. 1913. decrease OF
"a per cent. in number and in liabilities
as compared with last year, and making
still better comparisons with earlier
upriodS