The times., 1898-08-13

account for wheat and corn. which Is re
nected in advances for those cereals in
spite OF rather more favorable than e~--
pecteu government report of possibIA
Sieiu- fopular estimates tend to allow of
an underestimate by the government in
wheat fuiIy equal TO that of last wear
ana point to total crop not less than
600 bushels. The corn WELD az in
ulcated by the Government, is in excess
OF that or last year, and only 300 OOg ol0
Dusheis smaller than the maximum WELD
OF 1896 but the yield of oats is reported
cut snort by dry weather and an out-tt,rn
lndlcated rather smaller than last wear
hHects OF the holding of wheat by far
Hiefs ior better prices are found in the re-
uuced Poiuine OF grain carried by rail-
roads during July, with some complaints
or interference with collections
Price strength is also a feature. oats
lard, beef, coffee, lead. rubber copper
| ana cotton, in addition to those mention
| ed, are advancing tnis week Cotton
! prices are higher. Signs that Eastern
markets are about to experience some OF
rne improved demand reported at the
| west are among additional favorable fea-
| lures. Bank clearings reflect a maximum
business for this period of the year in a
| total aggregating s1,22l. .39l, 600, 2S per cent
larger than last week per cent larger
| than this week a year ago.
| business failures still incline toward
minimum. numbering only I57 against
lS9 last week, and 2li in this week a wear
ago. Evidences of Increased business al
| the East are beginning 20 appear. Busi-
ness at the West is, If anything, more
| active than last week
| Too much rain for cotton is COM
| planned of in the Mississippi Valley nut
in spite of this the general tone of bust
ness is good. New Orleans reports fall
orders OF good volume in spite of bad
| roads tnterrupting trade.
THE hold your wheat policy of the
| farmer was responsible for falling on
of from % per cent to 40 per cent in the
| movement of cereals TO and from primar ~
markets and the seaiboard in July. This
| has resulted in a smaller gain in rail-
| road earnings than has been reported for
more than one year past.
Cereal exports are of a satisfactory
volume, and are still ahead of last sea-
| sons liberal movement"
Dun's weekly review of trade today will
say:
| Prospects of peace have had a curious
influence on business contracts not quite
explainable on common sense grounds
| Nobody really feared disaster, or exhaus
ton of national resources, and nobody
feared that anybody else was afraid OF
either Yet orders unusual in number ant
size have been placed since Spain asked
for peace. In some industries the gair
has been large for about two weeks
while in some textile manufactures it ha:
only begun to appear this week. but i
involves considerable increase in tn,
working force Crop prospects are on th,
whole, more encouraging, for the Govern
ments latest report as to corn is mucl
larger than the commercial estimates. ant
It's cotton return promises a heavy yield
while allowance is made for it's habitua
error in its wheat return. Money markets
show no sign of possible disturbance, Sc
curities are stronger. and there is III
harmful speculation in stocks or products
Rarely has the financial outlook beer
more nearly included.
while wheat is four cents higher fo
the week, there is less doubt than a weel
ago that it will rule lower during th
coming year. The general holdinf. bacl
of grain by farmers and consequen
heavy shrinkage in Western receipt
have reduced the avisible supply below
all past records but everybody under
stands that at this day many times tha
| quantity is almost within days run o
Chicago. The more effective change i
the decrease in itexpdrts, which ha
been only 3,237, ,Sl9 Sbushels, flour includ
ed, from both coasts, against S,S32, 974 las
year, showing but slight increase o
Noth - 4AAiiA4oiA DuSuSiS 1Oi lWO WSChs
: compared with last year.
!; fQhe price of corn has declined
shade for cash, and the government re
port promising about two billion bushels
against 1S25, 600 900 bushels promised b
commercial accounts, has more weigh
because the official returns as to cor
have been Systematically misleading an
everywhere discredited A slight fur
in cotton lifted the price a sixteenth o
| TuecdaV hut If drOpD6l again the mex
| day with the official foreshadowing of
| large yield. The stock market has rise
to the highest point for the sixty mos
| active railroad stocks, since the middle
| April. 1898. The market was supported b
| reports of earnings which showed for ha
the mileage of the country earnings /
per cent larger than last. year, and oni
! | IA per cent smaller than in 1892.
/ THE iron and steel trade fully suppor
| inferences drawn from recent event
/ The demand for steel is so heavy tn;
i-some of the biggest concerns have bee