The age-herald., 1898-06-04

 FIRST MONTH OF ACTUAL WARFARE ShORS a Smaller Number of Failures Than Same Period Last Year. WHEAT DROPPED "A CENTS From the Highest Point After the May
 Deal Culminated. FOREIGN DEMAND IS CONTINUED Of All the Great Industries the Cotton Manu- facture Alone Gives Some Sign of
 Shrnkage, Cotton Having
 Dropped Sixteenth.
FOREIGN DEMAND IS CONTINUED

New York, June 3.-R. G. Dun Co.'s weekly review of trade will say tomorrow: May having been the first full month of actual war, the fact that failures in that month were smaller than in the correspond- ing month last year and nearly 10 per cent. smaller than in May, 1896. is encouraging. the more so because year ago tn remark able decrease in May gave. proof of the heavy improvement in business which made the year so gratifying in general re- suits. Large failures were eight in manu- featuring for s2.ss5,O0) this year against thirteen for s2.9 coo last year, and in trad ing five for s69o.OOo against ten for s1,572.- or in 1897. Hesitation in extending usual credits soon after war began naturally af- fected weak more strong concerns, but It soon gave place 10 stea1y and increasing confidence.
 Wheat dropped seventy-four cents from the highest point after the May deal cul- minated and has since bes.i wakr for July, because of accounts promising an enor- nous yield. But with continued foreign demand of 4,2iS,49S bushels aga nst o4'sz' last year, the decline evidently hastens the marketing of surplus and gives the ne" cron a bitter chance. Exports of corn for the week have been 4,SS1.S2O bushels asaihse 1926. .566 last year, and for the first time m history exports of grain have about reach- ed 10000, GOO bu h Is in the same year.
 Cotton Industry
 of all the great industries the cotton manufacture only gives some sign oi sbrinkage cotton having dropped SIX teenth during the week after rise III goods averaging for the month about one ner cent, thus rendering the stocks some what more difficult. But print cloths nave advanced and in most staple goods the ue- mand is improving. Wooien miiis are en- couraged by a somewhat larger demand TOT goods in part from governments orders, and are averaging about one per cent pet ter prices for goods than a mohtn aso. There is not much demand for wool, WHICH it still held In the main above the views o5 manufacturers and prices have deciheu one-balf per cent for the month. The ron and steel manufacture leads all others Ill gain over previous years. It's cohsuHp.,oh of pig being apparently more than mliiioh tons per month, of 2SS,0OOO tons each weeh' against 170,7S0 tons in May, 1892, an increase of 33.6 per cent Above all others in signln- canoe is the wholly unprecedented demand from agricultural works, which throw III the shade all their past orders, wnie tne plate and rail manufacturers are beating all records, part with foreign orders faIluIes ites for the week have been 2z2 in the United States. against 241 last year, and sixteen ID Canada, against thirty-two last year.
 Bradstreet's Review
 New York, June 3-Bradstreet's tomor- row will say: The general business situation might well be expressed by the single word 'crops." Certainly the very flattering outlook report ed in nearly all the grain growing sections of the country, and particularly as regards the growing of wheat has been Of a nature to dominate the entire trade situation From all the surplus wheat growing states there comes but one report; that of large acreage extremely good weather and crop conditions already foreshadowing an un- precedented production of the king of cer- } calls. With the large wheat yield has come the final elimination of the May wheat deal and considerable quieting down of specu- lative and fever prices.
 Reports as to distributive trade are en- couraging. A hopeful feature Is the gener- ally reported good business at retail. not only at the west but also east. a Reports from other industries continue on the whole quite good. The movement Of iron and steel is still of an immense volume, and the demand from agricultural imple- ments makers has never been exceeded. Tn rather better tone reported in some branches of the cotton and woolen goods industries of late remains unimpaired, print cloths having advanced again while wool remains firm.
 Wheat exports for the week reflect bet ter export inquiry and larger shipments, aggregating 5,24S,0S6 bushels against 4,eS9,- 900 bushels last week, and 2,620000 bushels last year.
 Corn exports are the largest on record. aggregating 6,605, ,422 bushels, against 6,164,- 900 bushels last week, and 2.396,0 900 bushels year ago.
 Business failures were 179, against BIO last week and 192 last year.
 Financial Review
 New York, June 3-Bradstreet's financial review tomorrow will say: