The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-07-23
THE CONDITION OF TRADE
The Volume Of Business Shows
but Little Decrease.
1T GIVES A HOPEFUL TONE
The Demand for Wool Is Confined to a
Few 0rades-Eastern Wool Markets
Are the Lowest in the World.
The Iron Market.

New York. July 2.-Bradstreet's to-mor-
row will say: Midsummer conditions
still govern most lines Of trade and man.
ufacture. but the volume of business as
indicated by bank clearings shows little
decrease, and is evidently considerably in
advance of previous years at this time.
A feature of the trade this week Is the
better demand for wool East and West,
largely confined. IT is true. to a few grades
of wool. This appearance of activity has
given a decidedly more hopeful tone to
this business, which. however. is not heard
from In the manufacturing branch. East
ern wool markets are relatively the low
est in the world. and stocks now held, II
is claimed. cannot be replaced at lower
prices here or abroad.
Indications that important Developments
may shortly be witnessed in the iron trade
accumulate. This is partly the result OF
expected good orders from railroads for
rails, of a larger export bushes and of
a good volume of small orders for various
classes of steel. The statistical position
of pig iron has been strengthened by the
curtailment of production and the reduc-
ton Of stocks following a production OF
an average of nearly one million tons a
month since January !, but some shad-
ing, especially of Southern iron prices,
imparts an air of irregularity to the trade.
Effects of the reported advance In prices
by the Bessemer iron commission nave
not yet been measured, and the result OF
this announcement is awaited with inter-
est.
Dizziness has been a feature of the ce-
real markets. Old wheat supplies are
rapidly increasing, while the new crop
movement, although in excess OF last
| year, does not reach the proportions ex-
pected. The shipping of Texas wheat TO
California is one effect OF the shortage
of supplies reported.
Another feature of the business situa-
| ton is the active preparation making in
the coast shipping trade for the large
| business with West Indian points, which
is expected to develop as a result OF mil
| itary and naval operations. The renewal
of sailngs by coastwise vessels ana the
practical disappearance of war risks are
accompanying features.
Rather more attention il given to the
klondike as a result of reported heavy
| arrivals of gold at the coast points. and
estimates of a seasons output valued at
| 20, 900, 900 are current. Rather more AMI
nation is looked for in the Quitting
trade as a result thereof, but advices
from Alaska are not wholly favorable,
as is proved by reports that large num-
bers of unsuccessful prospectors are anx-
ious to get out of the country.
Following the usual semi-annual small
| business embarrassments failures have
again dropped to normal proportions, the
| total number for the week closed being
1856, so fewer than last week, and 80 fewer
than in this week a year ago; 20 less than
in this week of 1896: d'less than In 1870
and ~ less than In 1894,
Cereal exports continue to be of a sat
isfactory volume. wheat shipments for the
week flour included as wheap, aggregate
1903. 469 bushels, as against 2,9lO,s6 bushels
last week, and compared with l,gIs,S.S
bushels In the corresponding week of 1892
3.OO7, oSo bushels in 1896, l,2o5, 0s6 in 1895, and
ASS 900 In 1894.