The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-07-09
................$N,75 1853, $50
Bradstreet's Report

NEW YORK. July 7-Bradstreet's to-
takes of the usual midsummer stock taking
quietness, the number of favorable fea-
lures coming to hand has not materially
lessened and confidence in good fall busi-
ness Is still widespread.
Business In speculative circles Is restricted
and the new war taxes have mad an appre-
uiatlve sales of so-called scalpers in grain
and securities. The tone of prices, particu-
arly for cereals has shown a slight i'm
provement for the week and detailed com
parsons with recently preceding periods
are still quite favorable.
Developments in the iron trade are still
patiently awaited, but among the favorable
demand for pig iron and increased inquiry
at high prices for steel placed at some east
ern points while the western accounts con-
tinued favorable. Rather more is doing on
export account in this line of business and
the demand for our cerals abroad is quite
satisfactory. The crop condition is in the
main very favorable, although the tendency
now is to discard early extreme estimates
of the yield of wheat and 67o, 200, 900 to 7G0,-
900 900 bushels estimates are more popular.
Business failures for the week number
PAL is against 271 last week; 23l in this week
a year ago and 219 two years ago. AS for
some time past the west and northwest send
relatively the best reports.
A more cheerful tone is noticeable at the
southern and eastern middle states. Tine
tone of trade is quiet, but activity In iron
has been a feature at Philadelphia, where,
however, textile manufacturers are not
very busy. Pittsburg reports trade season.
ably dull and Boston gives it as quiet
The supply of raw wool adaptable to gov
eminent orders has been considerably re-
staple are steady. Our cereal exports CON.
| tinue in excess of corresponding periods of
previous years, wheat. shipments for the
716.4O1 last week and comparing with $685.
606 bushels this week year ago
Bradstreet's Financial Review
NEW YORK, July s. Bradstreet's Finan-
fial Review tomorrow will say:
Narrow transactions and irregularfty
have again distinguished the weeks specu-
after the prolonged holiday, buoyant on the
news Of the destruction of the Spanish fleet
at Santiago.
The cotton crop looks better and the pros
pect is reflected in decline of sixteenth
In the spot price.
The manufacturer of wool hesitates, al
though distinctly better demand has APP
peared during the past ten days, because
prices at which western wool Is held are
too high for eastern markets and apparently
too high for profitable manufacture. Sales
for the week at the three chef markets
have been only 100000 pounds of which q
905O0 pounds were domestic against $1l,-
l20,5O0 last year, Of which $685. COZ were do
week of 1892, of which 1851 900 pounds were
domestic. The markets are all dull in spite
of fairly large demand for Territory and
Australian wool in blocks.
dustry with the bold statement that 1t Is
using up more iron, even at the slowest
point of the year. than ever before. 1t is
getting bigger domestic contracts for agri,
also for structural work. than in any pre-
vious year. but especially for plates, the de-
mand for which quite overruns the capacity
ment account. Nevertheless the demand
has not pushed prices of material upward.
Failures for the week have been 229 in the
United States, against POS last year and II
in Canada against 80 last year.
London sent higher prices and bought but
the traders here found that the outside pub
lie was still Indifferent and realizing en-
sued which carried prices down after the
first ten minutes. On Wednesday the tone
was heavy and dragging and on Thursday
there was a revival OF strength under the
Friday developing strength in the, early
however, by dullness and declines. in the
coal stocks. Dealing in the stock list has
been restricted to an extent beyond what
seasonable midsummer dullness would pro-
duce. The stamp tax on Sales while 1t is
impossible to say that It mas cneckad public
of manipulators and board room traders
who have been accustomed to make great
many contracts in order to obtain a mini
mum of profits which the latter, the war
tax of 50 on each 100 shares would seriously
reduce. There Is a somewhat more settled
feeling about the crops but on the other
prevalent and the railroads suffer from the
fact that the heavy movement of grain to
market is over. Consequently some promi-
nent roads,, notably the st. Paul. have
the past two weeks. London bought stocks
at the opening of the week: but then showed
marked indifference to this market until
Friday, when peace rumors again brought
| in a btVer.