The times. [volume] (Richmond, Va.) 1890-1903, 1898-06-04
BUSINESS GROWS
DESPITE THE WAR,
Failures Fewer in May Than for Two
Years Past. p
IRON AND STEEL IN THE LEAD,
The Manufacture Of These Articles
Leads All Others in Gains Over Pre-
vious Ycars-Thc Outlook for
Another Great Wheat Crop.
IRON AND STEEL IN THE LEAD,

NEW YORK, June 3.-R. G. Dun AZ
Co.'S Weekly Review Of Trade will say:
May having been the hrst full month OF
actual war. the fact that failures In h
month were smaller. even though but
little. than I'm the corresponding moth
last year and nearly 10 per cent. smaller
than in May. 1896. is somewhat encourage
ing the more because a year ago the re-
markable decrease in May gave proof or
the heavy improvement in business which
made the year 50 gratifying In general
results.
COMPARATIVE FAILURES.
Large failures were eight in manufac-
turing for $685. 900 this year against thir-
teen for $2,955.O u last year; and In trad
ing five for $4,000. against ten for ST.
572.O77 in 1897.
Hesitation in extending usual credits
soon after war began naturally affected
weak more than strong concerns, but 1t
soon gave place to steady and Increasing
confidence.
Wheat dropped "A cents from the high
est point after the May deal eliminated
and has since been weaker for July be-
cause Of accounts promising an enormous
yield.
Those who were nearest the truth last
year now predict about 700. 900 900 bushels
for 1898. and all accounts make acreage
much larger and conditions much better
than a year ago. but with $1.15 still paid
for No. 2 red, in elevator. and a foreign
demand taking 1924, 49S bushels, -four in
cluded from Atlantic ports FOR the week
against 2,l6j, 1871 last year and 3S5, 439 from
Pacific ports against 1922 last year, the
decline evidently hastens the marketing
of surplus. and gives the new crop a bet
ter chance.
CORN EXPORTS.
Exports Of corn for the week have been
4,SSl, $40 bushels, against 1895. 566 last year.
and for the first time in history exports
of each grain have about reached 200. OO0,-
900 bushels in the same year.
OF all the great industries the cotton
manufacture only gives some sign OF
shrinkage, cotton having dropped a six
teenth during the week after a rise in
goods averaging for the month about l
per cent, thus Tending the market OF ac-
cumulated stocks somewhat more diff
cult. But print cloths have advanced.
and in most staple goods the demand Is
improving. WOOllen mills are encouraged
by somewhat larger demands for goods.
in part from government orders. and are
averaging about 1 per cent. better prices
- k0tH1 ina u NAAh 0EVH " 20
not much demand for wool, which is still
held I'm the main above the views OF
manufacturers. and prices ave declined
an average Of one half a cent for the
month.
IRON AND STEEL LEAD.
Iron and steel manufacture leads all
other in gain over previous years. its
consumption Of pig being apparently
more han a million tons per month or
22s. 900 tons each week. against 170. 80 tons
per week in May. 1892. an increase of 1886
per cent.
Above all others IN significance is the
wholly unprecedented demand from asri-
cultural works, which throw I'm the shade
all their past orders. while the plate and
rail manufacturers are beating all re-
cords. partly with foreign orders.
Failures for the week have been Z2 In
the United States against PAL last year,
and IS in Canada against 32 last year.