The times., 1898-07-30

expected by the street and II has been
predicted in this column. The action of
the stock following the decision was
somewhat of a surprise to the average
trader, but it need not have been. There
was a decline Immediately. The reason
was plain in the fact that there had
been much discounting of the event be-
fore it happened. There is no particular
reason for believing that there will be
any rally in the stock now, either.
The move in the rubber stocks was
helped along by the talk of a dividend on
the common stock in the Autumn.
Mr.. W. B. Hibbs. the stock broker, has
leased the old Corson & Mccartney place
of business in the Glover building and
viii move his offices into il on the 1st of
September. 1t is understood that he has
obtained lease for ten years.
Al-g y
New York. July 29.--Bradstreets to-
morrow will say: Wasile rs yet show
ing little actual effect upon distributive
trade there is evidence that the inn
proved prospects for peace, with proba-
BILE wider markets for American pro-
duets, have given a morei hopeful tinge
to the trade outlook, more particularly
at the East IHlS III dCiiNS
preparations by shippers sand coasting
trade interests to share in the expected
widening of demand from the West In
dies.
AS for some time past, however, re-
port of solid business returns come MAIN
ly from the Western part of the country.
and in the markets of that section are re-
ported signs of the ground swell of the
Autumn demand. Signs of cumulative
industry, more particularly from west of
the Alieghanes, where slight advances
in prices accompanying a good volume
of domestic and export business are re-
ported.
That Fall trade has already materaliZ-
ed in the West is evidenced by the tele-
grams from leading centers, which report
the volume ef business IN dry goods,
clothing and groceries ahead of last year,
with interior buyers in evidence earlier
than usual. From the same section, too,
come very satisfactory reports as to the
live stock business.
Expected activity in shipbuilding is re-
fected in the demand for plates of East
ern points. A rather better tone is found
in the anthracite coal trade prices having
been advanced at the West from pre-
viously low cut rates.
The situation In cereals Is hardly as sat
isfactory as could be wished, cash prices
| being lower for the week In face of prob
able ecord-break!ng small worlds sup
! plies on August l. and good exports from
! this country, while futures are less de-
pressed, but exhibit the pressure of ex-
| pected liberal supplies at home and heav-
| ier crops abroad.
The sugar market remains dull and
stocks of refined in the channels Of dis
/, tribution are reported small. Raw su-
| gar. however. remains featureless.
The textile manufacturing situation is
| as yet a rather clouded one shut down
| of print cloth mills being regarded as
J probable in another effort to restore the
] lost balance of this trade.
| Woolen goods are still slow of sale.
| Business failures in the United States
remain at normal low point, aggregat-
| ing for the week l9S against 1SS last
! week. and comparing with 259 in this
! week year ago, 29i in 1895, 221 in 1895 and
go in 1894.
I Dun's weekly review of trade tomor-
] row will say: Big bus ness in January
| is expected. but big business in July
| means more. 1t is the month of all
/ Others when trade IS naturally light.
] New engagements are ordinarily de-
| ferred and men wait for the outcome and
movement of crops. But more business
/ vious July of which there are records.
! The payments through clearing houses
/ have been SIS per cent larger than in
! 1892 and for the month thus far So per
| per cent larger than last year. But
| these records and others have to be
| judged in the light of a heavy decline
| in prices since 1892 that the volume of
/ business transacted is about 20 per cent
| larger than the volume Of payments in
| d!ca:es. Il ~
I There is no pressure IN the money
! market, nor fear of any. the tendency
being all the time toward greater de-
/ pendence Of other countries upon the
! United States. Although foregn crop
| advlces are encouraging. harvests are
! yet to come IN many countries, and mean
| while the buying of bfeadsThffs continues
| larger than usual at this season.
The yie.d of whea+ Is Icertainiy the
| largest ever known and TIE prospect IS
/ good for a heavy yield or cotton, with
| about as large a yield Of corn as last
! year, while an enormously valuable hay
! crop has been saved.
| Wheat receipts for the month thu:
| far have been 1869. 333 bushels, against
| 10,G52054 last year, but prices have de
clined ! 12 cents, and farmers are hold
| ing back their wheat irnthe hope of higher
| prices. The exports for the week have
been 1901, SIS bushels from Atlantic
ports, flour included, against LIS, 1873 las
year, and from Pacific ports, 1261i7 bush
els, against 1929 last year, making fol
the month S,SS3.192 bushels, against Z,
342. i67 last year.
Corn has a little advance in prices, ow
ing to reports Of injury TO the crop, an,
also because exports for the month thu
far have been singularly well maintained
amounting to 6.767953 bushels. agains
S,0Ss,l LOG last year. Wheat, on the con
trary, has dropped about 1-2 cents
with prospect of further decline.
The sales of wool show a remarkabl
increase in large transactions, fer which
no prices are named.
The official report of iron production
for the first half of 1898 shows an in
crease of over half a million of tons com
| pared with any previous half year, ant
what is far more important the con
sumption in manufactures appears 70
the half year to have exceeded the out
pnt.
Sales of Bessemer iron hssa beel
heavy, teaching 25,oOo tons at Pittsbur'
without change in prices.
Boots and shoes go out from Rosto
in greater quantity than in any previou
1 July. 361, 239 case this month, against 351,
$50 cases in 1895 and 31S074 in 1892. TIL
demand for leather is extremely dull
There is free selling of hides at Chica
go by packers, though of country hide
the selling is more limited.
, Exports from New York during fou
weeks of July have been S5,200,000, o
2S per cent smaller than last year.
Stocks have remained little changed i
price.