The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-07-09
THE STATE OF TRADE.


NEW YORK. July s.-R. q. Dun d Co. $
Weekly Review OF Trade will say tomor-
row:
The haIf-yearly statement of failures by
branches OF business is peculiarly inter
eStiug, because il shows that war and fear
OF war have not caused increase in COM
mercial disasters. The surprisingly large
and general decrease in trading defaults
would without doubt be accompanied by
corresponding returns as to manufactur-
ing 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 manu-
featuring smaller than in the same quar-
ter Of any year excepting 1894.
The fiscal year has ended with fractional
results a shade beyond general expec;a-
tons. and the new war tax begins to in
business in any line. No reason yet APP
pears to apprehend that the war revenue
viii fall below expectations.
Criticism Of crop estimates Is the less
needful because the best authorities all
agree that supplies for the coming year
promise 10 greatly exceed home require
ments and a full export demand. though
for month or two yet Europe may -
quire much more than usual. This VIII
help TO sustain the market. while the ear
Her receipts are coming forward. and
prices VIII then be determined largely by
the outlook for crops abroad. which is
not as yet entirely encouraging. Wheat
has reflected but little improved prospect,
advancing from s5c 10 eoc for spot. regard
less OF the usual stories OF injury.
The cotton crop looks better. and the
prospect is reflected In decline of a six
teenth in tina spot price. The nanufac-
turing works at the North are quite well
employed. much more than usual during
the vacation season. and the demand for
goods is somewhat improving. Abroad the
state Of manufacture does not encourage
hopes. while the stocks held nv sniiiers
are known 10 he unusually large. The
South is increasing the manufacture rap
idly. and not entirely in place Of Northern
mills. There is no DISAGREEMENT in other
textile manufactures. and the business Is
good and growing in silks baGging. hemp
products and linens.
The manufacture OF wool he~s'iates. al
though distinctly better demand has ap-
reared during the past ten DAYS. because
prices at which Western wool Is held ara
500 high for Eastern markets. and ap-
parently too high for profitable rnanufac-
ture.
Sales for the week at the three chief
markets have been only ,. 30 600 pounds.
of Which 2 $3.50 pounds were domestic.
against A,-ss,t.a last year. af which s.s>s-
I'D were domestic and Sis 40 pounds in
the same week OF 1909. OF which ss7ls 500
pounds were domestic, The markets are
fer territory and Australian wool in
blocks, but the manufacturers are very
Sag,oes N sarg9ssns sIshoasa t a. =
for goods which manufacturers can sup
ply. II Is for them an open question
whether they can meet IL II they have TO
pay such prices as are asked by Western
holders.
Tie iron industry IL getting bigger con-
tracts for agricultural imple uents ani
car materials and also for structural work
Than Ia any previous year. but especial
y for plates. the demand for which quite
0verTBHs the capacity OF all the works.
ard not mainly on government account.
Neverf heiess the demand has not push
Ell prices % material upward. for this il
the waiting and fighting period and the
producers - pig iron and OF n!llets have
yet a problem % settle between them
selves. Meanwhile, no fan IN prices az
pears bat better demand for products
win every expectation that within two
weeks the producing capacity Of the works
for SIX months
Failures for TIE week have been - IN
me United States against $50 lass year and
u in Canada against 81 last year.
Bradsfreefs Review.
Braastreet's tomorrow will say. While
tAe tone OF general business partakes of
the usual Ii3s, INNER stOck-taking quiet
Ness. TGe number OF favorable features
caairw 20 hand has not materially lessen
~. aD3 hope s0r u good falI oustress Is
circles IS restricted and the new war taxes
have az a9pTeciac3e effect or sales ~ So
csiie~7 sc4tperS IN grain ard securities
The tone ~ prices. particularly for csrs-
as. has shown slight Improvement; FOR
tae wees, and aet2s{ei comparisons with
rec*ntly preceding prices are stA quite
favorable
y>svvlop-ssnes 81 rhA iron trade z-a sffu
patiently swas:cd bat among the favor
abe features rufSHt ~ sBstsr~ea IN iTa-
prov = Gensrs scr Vix ron and Increased
.a,a4 Al h.saer prse~s far steel Plates 3.
some Eastern points, Nh" the Western
accounts continued tavp-a be. Rather
more Is 90s5g o. expert account n .Ass
'trs af Business. ana tie demand for ouz