The star. (Reynoldsville, Pa.) 1892-1946, 1898-07-13
TRADE REVIEW.
War Thus Far Has No. Affected Businsss-Kush Iron
Being Consumed.

Being Consumed.
X. G.. Dun a. Co.'S weekly review of
trade reports az follows for last week:
The usual half yearly statement of
FAILURES by branches of business is pc
cullarly interesting because IL shows
that war and fears OF war have NOT
caused Increase In commercial disas-
ters. The surprisingly large and gem
eral decrease in trading defaults would
without doubt be accompanied by cor
responding returns as to manufacture
ing, but for excessive expansion I'm
some lines and the helpless condition
reached by few large. firms in other
Dranches. Failures during the second
quarter have been smaller than I'm the
same quarter OF the past four years in
trading, and In manufacturing smaller
thah IN the same quarter OF any year
excepting 1894
The fiscal year has ended with financ-
ial results IA shade beyond general ex-
pectation, and the new war tax begins
10 increase revenue, not seriously dis
turbing business in any line. No
reason yet appears to apprehend that
the war revenue bill will fall below ex-
pectations.
The cotton crop looks better and the
prospect Is reflected in a decline of a
sixteenth In the spot price The manu-
featuring works al the north are quite
well employed. much more than usual
during the vacation season, and the de-
mand for goods is somewhat improy-
ing. Abroad the state of the manufac-
ture does not encourage hopes of an
extraordinary demand for the raw
material. while the stocks held by mill
lers are known to be unusually large
The south is increasing the manufac-
ture rapidly and not entirely In place
or northern mills. There Is no dis
heartenment in other textile manu-
factures, and business Is good and
growing In silFs, bagging. hemp pro-
ducts and line
The manufacture Of wool hesitates.
although distinctly better demand
mas appeared during the past ten days.
because prices at which western wool
Is held are too high for eastern markets
ana apparently too high for profitable
manufacture. Sales for the week at
the three chief markets have been only
S,20o,0Oo pounds, OF which 2.290, 500 We're
domestic. against 1i,120500 last year,
or which 6,9s9.500 were domestic, and
6,ll9.350 pounds in the same week of
1872, OF which 3,651 500 were domestic.
me markets are all duh. In spite of a
iairly large demand for territory and
manufacturers are very cautious in
purchasing, although there is every
evidence of a great consuming demand
for goods which the American manu-
facturer. with reasonably cheap ma
terial, can supply. II Is for them an
open question whether they can meet
1t II they have to pay such p, Ices as are
asked by western holders.
1t Is not enough to dismiss the iron
industry with the bold statement that
II Is using up more iron. even at the
siowest point Of the year. than ever
before. 1t is getting bigger domestic
contracts for agricultural Implements
and car materials. and also for struc-
tural work. than In any previous year.
but but especially for plates, the de-
mand for which overruns the capacity
OF all the works. and not mainly on
government account. Nevertheless the
demand has pushed prices OF material
upward. for this Is the waiting and
hghting period. and the producers Of
pig and of billets have yet some prob
lens to settle between themselves.
Meanwhile no fall In prices appears.
but better demand for products, with
every expectation that within two
weeks the producing capacity Of the
works will be much more fully employ
ed than II has been for six months.
Failures for the week have been 90
In the United States. against 2O6 last
year; and Il In Canada. against 30 last
year.