The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-07-02
THE CONDITION OF TRADE
Encouraging Returns on the Sec
ond Quarter.
FAILURES ARE LARGER
Extraordinary Exports of Wheat Still
Continue-SmaIl Demand for Wool
A Decline in Prices in
the Iron Market.

New York, July 1.-R. G.. Dun & Co.'S
Weekly Review of Trade will say to-
morrow: The second quarter of the
veal closes with more encouraging re-
turns. Failures have been a little larger
than in the first quarter in the year.
whereas a decrease of So per cent. might
have been expected from the experience
of the past 10 years, but with that al
lowance a difference of only $751; 500. 900
can be charged to war and fears Of war,
whereas solvent payments through
clearing houses for the quarter were
over SIS, 600, 900. In the very best years
defaults range from an eighth to a fifth
OF l per cent. of such payments, and in
bad times from a third to a half of /
per cent. or more, but this year the pro-
portion Is less than a fifth. The quar-
terly statement given to-day shows an
aggregate of $34. 49S. 074. which is smaller
than in the second quarter of any year
since 1890, except one, and the average
of liabilities defaulted to firms in bust
ness and to exchanges through clear
ing houses is also smaller than in any
year, except one. for the past even.
The exports of wheat continue extra
ordinary. During the week they have
been, -four included, 1905, $50 bushels
from Atlantic ports. against 2,064, 173
bushels last year. and Pacific ports,
40S, 900 against 210, 900 bushels last year.
This makes for the crop year, with some
minor ports yet to hear from, 217, S71. $50
bushels exports of wheat, flour includ-
ed, against 265. e65, 812 bushels i'm 1892, the
year of largest exports. but, at the same
time, 211,452 253 bushels of corn have
gone out, against rs, 6O2, 2S5 bushels in
that year n 17S,S17,417 bushels last
year, which was much the largest rec
ord. The market has been a little weak
er. as Is natural with abundant evil
dence of an enormous yield, notwith-
standing all the reports of injury, but
cash wheat has advanced to IS cents.
The demand for wool has been almost
wholly confined to needs for orders in
hand, and yet there is good reason to
look for a better demand for goods as
soon as the new season has opened,
while with contracts more than that
proportion of machinery is employed.
even at this dull season. Sales of wool
have been only 3,011. 200 for the week at
the three chief markets and for the
month 10, 193,3 300 pounds, against Al, 197,-
600 pounds a year ago and 29, 1896, 900
pounds in 1892. The decrease in sales
since the elimination OF speculation in
February has been most remarkable.
The iron industry shows some decline
in prices of Bessemer pig at Pittsburg
Saos ~ % W - n JILL
S11 here and SLIPS at Philadelphia for
No, 2 anthracite, while shipments dur
Ing the week have been made from Bir-
mingham to Hamburg, Rotterdam,
Great Britain, Australia and Japan,
though in the aggregate not large. But
contracts for 10000 tons of steel rails
have been placed at Chicago, and pend
ing contracts there for structural work
are estimated at $4,000 tons, while the
demand for implement and car material
Is still beyond all precedent, and in
general it may be said that the mar
kets west of Philadelphia are remark
ably strong, with scarcely any indica-
ton of decline in the demand for fin
ished products.
Minor metals are quiet. Tin plates
are a shade weaker at $3.50 for full
weight American, the corresponding for
eign grades growing somewhat ong
Failures for the week have been 253
in the United States against 241 last year
n Is In Canada against 80 last year.