The Saint Paul globe., 1898-07-23
MIDSUMMER BUSINESS GOOD
BANK CLEARINGS SHOW BUT
LITTLE DECREASE
This Would Indicate That Business
Volume Is Considerably in In
crease of Previous Years at This
Date, Says Rradstreet's-Hop
Features Developed In Various
Lines of Trade.

Lines of Trade.
NEW YORK, July 22.-Bradstreet'
tomorrow will say: Midsummer con-
d1tions still govern most lines Of trade
and manufacture, but the volume of
business, as indicated by bank clear
1ngs, show little decrease, and is evil
IDENTIFY considerably in advance of pre-
Vlous years at this time. A feature
In trade this week is the better demand
reported for wool, East and West,
largely confined, it Is true to a few
grades OF wool. This appearance of
activity has given a decidedly more
hopeful tone to business, which, how
ever, is not yet reflected in the manu-
Iactur1ng branch. Eastern wool mar
kets are relatively the lowest in the
world, and stock held now, it is claim
ed, cannot be replaced at lower prices
here or abroad
indications that important develop
ments may shortly be witnessed in the
iron trade accumulate. This is partly
the result of expected good orders from
railways for rails, of a larger export
business and of a good volume of small
orders for various classes of steel. The
statlstlcal position of pig iron has been
strengthened by the curtailment of
production and the reduction of stocks.
dN
Of nearly 1000, 900 tons a month since
Jan. l, but some shading, especially of
southern iron prices, imparts an air
OF 1rregularity to the trade Effects
OF the reported advance in prices by
the Bessemer iron combination have
not yet been measured, and the result
OF thls announcement is awaited with
interest.
Duiiness has been a feature of the
cereal markets. Old wheat supplies
are rapidly decreasing, while the new
crop movement, while in excess of last
year, does not reach the proportions
expected. The shipping of Texas wheat
TO California is one effect of the short
age OF supplies reported. Another fea-
ture of the business situation is the
actlve preparation making in the coast
snlpp!ng trade for the large business
with west Indian points, which is ex-
pected to develop as a result of militia
ry ana naval operations. The renewal
or sa1iings by coastwise vessels and the
practical disappearance of war risks
are accompanying features.
COtton is at the lowest price ever
palo at this season of the year. partly
on good crop reports and also as the
iesuit OF an announced intention of the
smut down by Fall River mills. For
the latter reason print cloths are firm
~ ned at previous quotations.
Cchee, though well maintained, is
very low in price on reports of another
very large crop following those of re-
cent years, while worlds stocks are
reported very heavy.
hsuher more attention is given the
kloEdlke as the result of reported
heavy arrivals of gold at Pacific coast
pc1nts,sn nd an u put for the season val
ued at $40, 900, 900 is estimated. Adyices
from Alaska are not wholly favorable
which Is proved by reports that a large
number Of unsuccessful prozpectors are
anxious to get out of the country.
"following the usual serni-annuaj
crop of small business embarrassments
Failures have dropped to normal sum-
! mef proportions, the total for the week
just closed being 1873, 50 fewer than last
week; 81 fewer than in this week a year
ago; 81 smaller than in this week OF
1875; 81 less than in 1895, and 40 less
than in 1894
Cereal exports continue of a very sat
1sfactory volume, wheat shipment for
| the week NoIr includ ID as wheaD ag-
grega ting 2,303, 409 bushels, as against
/ 2.9l0,S2I bushels last week, and COM
pared with 1,978,828 bushels in the
corresponding week of 1897, 3,O7s.SSO
/ bushels in 1896; 1,265, ,o96 in 1895. and g.
sso.000 bushels in 1894. Corn exports are
still in excess OF last week, aegregating
ISL 829 bushels as against 2,S22.2:S last
week, 2298,589 bushels in this week a.
year ago, 1,S22,0o0 bushels in 1895; TO-
OBJ bushels in 1895, and 25S, 900 bushels
in 1884"