The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-07-11
TRADE KEEPS UP WELL
Prospects for Increased Business
Much Brighter.
COMMERCIAL DEFAULTS DECREASE

Better-Wool Demand Improves-As-
pect of the Iron Industry.
New York, July I1.-R. G.. Dun &
Co.'s weekly review of trade says: The
usual half-yearly statement of failures
by branches of business is peculiarly
interesting because 1t shows that war
and fears Of war have not caused IN
crease in commercial disasters. The
surprisingly large and general decrease
in trading defaults would without
doubt be accompanied by correspond
ing returns as TO manufacturing but
for excessive expansion in some lines,
and the helpless condition reached by
a few large firms in other branches
Rarely have the monthly reports. pre-.
pared only by this journal, called at
tention more distinctly to the particu
lar branches of business in which dis
aster has been invited, but in manu-
featuring as in trading no evidence Is
found that general conditions have been
less favorable than heretofore. In spite
of war and expectations OF war, fall-
ures during the second quarter have
been smaller than in the same quarter
| of the past four years in trading, and
| in manufacturing smaller than in the
same quarter Of any year excepting
| 1894.
The fiscal year has ended with finan-
| cial results a shade beyond general eX-
| pectations and the new war tax begins
| to increase revenue, not seriously dis
| turbing business in any line No rea-
son yet appears to apprehend that the
war revenue will fall below expecta-
| tions. Continued heavy exports for
the past four weeks at New York "a
per cent larger than last year, against
imports here SO per cent smaller than
last year, indicate another heavy bal
ance of 10000 900 or more to be paid
on merchandise account by other coun-
tries to this for the month, and yet the
season is at hand when, II ever, adverse
balances are expected.
Crop Prospects Are Bright.
Criticism of crop estimates is the less
needful because the best authorities all
agree that supplies for the coming year
promise to greatly exceed home re-
quirements and a full export demand
though for a month or two yet Europe
| may require much less than usual This
will help to sustain the market, while
| the earlier receipts ara coming for
ward. and prices viii then be deter
mined largely by the outlook for crops
abroad, which Is not as yet entirel,
encouraging. Wheat has reflected bu
little the Improved prospect, advane
ing from IS cents to 80 cents for spot
regardless of the usual stories of in
, fury, the current commercial and thu
department reports being apparentl!
] distrusted by the trade. Dispatches t
| Dun's Review given show that western
! prospects are much more encouraging
than would be inferred from press dis
patches. Corn is rather seriously i'll
iured in some states, and yet on thu
whole ii looks well.
The cotton crop looks better and tn
prospect is reflected in a decline of
] sixteenth in the spot price. The man
| ufacturing works at the nol tn are quit
we'll employed. much more than usua
during the vacation season, and tn
/ ! demand for goods is somewhat improv
! ing. Abroad, the state OF the manu-
, | facture does not encourage hopes o
an extraordinary demand for the raw
, | material. while the stocks held by man
: | ufacturers are known to be unusuall.
large. The south is increasing the man
ufacture rapidly, and not entirely il
|
1 are forgetting that cheap goods fror
southern mills create some markets TO
I | themselves in that section, and ais
create a large market abroad. whicl
< the mills OF northern states could no
reach with equal success. There is n
disheartenment in other textile man
ufactures. and business is good an
: growing in silks, bagging. hemp prod
ucts, and linen.
Demand for Wool Improves.
The manufacture of wool hesitate:
although distinctly better demand ha
appeared during the past ten days be
cause prices at which western wool
held are too high for eastern market
and apparently too high for profitabl
manufacture Sales for the week at tn
three chief markets have been only 3
200 600 pounds Of which 290, 500 wer
: domestic. aea nst 14.1g0 500 last year, {
{ which 6.9S9 500 were domestic and 6
l19.35O pounds I'm the same week Of lSS
II of which 3,c5i 500 were domestic. tt
Q markets are all dull, in spite of a fail
{ ly large demand for territory and Al
y stralian wool In blocks but the MANI
facturers are very cautious I'm purcha
e ing. although there Is every eVid an'
of a great consuming demand for 5000
which American manufacturers vii
reasonably cheap material can suppl
II is for them an open question wheth
they can meet IL il they have TO pa
h. such prices as they are asked by ives
ern holders.
In like manner the refusal OF the boz
and shoe jobbers to pay the small az
Il vance asked on boots and shoes
o. manufacturers causes some hesitatiC
IN in new orders for their products, a
r though the more successful establisl
I'd | ments have orders for some wee
IN | ahead I'm most branches. The actu
as shipments for the first week OF Jun
ce as given by the Shoe and Leather r
" porter were 92.235 cases. against 92,S
w last year, ss,ss5 being the largest (
as the same week in any previous yea
ce with 67,617 in 1892
,ir The Iron Industry.
sh 1t Is not enough to dismiss the ir
IL Industry with the bold statement tn