The times. [volume] (Richmond, Va.) 1890-1903, 1898-07-09
BUSINESS GOOD
DESPITE THE WAR.
The Fiscal Year End With Better FL
nanciaI Results.
MANUFACTURING IN THE SOUTH.
It is Increasing, But Not Affecting the
Northern Mills-Ordcrs for Iron
Products are Larger Than for
Any Previous Year.
MANUFACTURING IN THE SOUTH.

NEW YORK, July s-R. G. Dun &
Co.'S weekly review Of trade will say to-
morrow:
The Usual half yearly statement Of fail
ures by branches OF business Is pecu-
liarly interesting because it shows that
war and fears Of war have not caused
increase in commercial disasters. The
surprisingly large and general decrease
in trading defaults would indicate this
without the accompaniment Of correspon-
ding returns as to manufacturing, but
for excessive expansion in some lines,
and the helpless condition reached by a
few large firms in other branches. Fail
ures during the second quarter have been
smaller than in the same quarter OF the
past four years In trading, and In man
ufacturing smaller than In the same
quarter OF any year excepting 1894.
The fiscal year has ended with financial
results a shade beyond general expecta-
tions, and the new war tax begins 10
increase revenue, not seriously disturbing
business in any line. No reason yet ap-
pears 10 apprehend that the war revenue
VIII fall below expectations.
CROP PROSPECTS.
Criticism Of crop estimates Is the less
needful because the best authorities all
agree that the supplies for the coming
year promise to greatly exceed home re-
qurements and a full export demand,
though for a month or two yet Europe
may require much more than usual This
will help TO sustain tho market, while the
earlier receipts are coming forward and
prices will then be determined largely by
the outlook for crops abroad which is
not as yet entirely encouraging. Wheat
has reflected but little the improved
prospect, advancing from S. 10 90 cents
for spot regardless Of the usual stories
OF injury the current commercial and
the department reports being apparently
dlstrusted by the trade.
THE COTTON CROP.
The cotton crop looks better and the
prospect is reflected In a decline or
sixteenth i'm the spot price. The manu-
featuring works at the north are quite
well employed. much more than usual
during the vacation season and tho de-
mand for goods Is somewhat improving.
Abroad the state Of the manufacture does
not encourage hopes Of an extraordinary
demand for the raw material, while the
stock held by milers are known 10 be
unusually large.
SOUTHERN MANUFACII RIBS.
The south is increasing in manufacture
rapidly and not entirely In place of the
northern mills. There is no dishearten-
ment in other textile manufactures and
business is good and growing in silks,
bagging. hemp products and linen.
The manufacturing OF wool hesitates
although better demand has appeared
during the past ten days. because prices
at which western wool f. held are too
high for profitable manufacture.
1t Is not enough 20 dismiss the iron
Industry with the bold statement that IL
IS using I'd more iron, even at the slow
est point Of the year than ever before.
II IS getting bigger domestic contracts
for agricultural implements and car ma
terlals and also for structural work.
than i'm any previous year, but especial
ly for plates. the demand for which
quite over-runs the capacity OF all the
works and not mainly on government
account.
Failures for the week have been POO
In tho United states. against 96 last -
and II I'm Canada against 80 last year,