The times., 1898-07-23

ness was done in bonds. Sales to take
profits caused fractional declines. but on
the whole prices were well maintained.
The new Government bonds were dealt in
for the first time in the unlisted depart
ment. They sold at the highest ngure yet
offered Investment issues of railroad
bonds were firm Wisconsin Centrals
were active.
tits learned that the current year, which
ends with August, has been very prosper
Gus for the American Cotton OIL Com
pany. and that something gratifying has
been earned on the common stock The
figures will not be published until the
Autumn. but this is official though not
of general knowledge in the street.
L is pretty generally understood that
the reorganiza ton plan of the Union Pa
cifc Denver and Cuff will assess the
stock SO u share. for which some COM
pensation is likely to be given. This is
not official, but is obtained on very good
authority. The failure OF the stock TO
advance with the bonds is explained on
this ground.
Sir William Van Horne the president of
the Canadian Pacific and Mr. James Hill
president of the Great Northern. have
had conference on the trans-continenfal
passenger rate war and are reported to
nave reached an agreement which will
nave the effect Of bringing IL to an end A
good rise In Canadian Pacific yesterday
gave color TO this story
There was less pressure 10 sell the an
thracite coal stocks yesterday There has
! been great deal said of the demoraliza-
ton of the coal trade, but some OF the
/ leading New Workers say that the trade
Is in better shape than it was at this
time last year and the companies better
off financially
The old firm of Corson & Mccartney. IT
Is reported. is out of the business for
good John Mccartney has been figure
| in Washington business for fifteen years
and there are very few who were not
| srieved and extremely sorry TO hear of
his failure yesterday. From all that can
be learned ii is very certain that the
collapse of his business venture win prove
to have been as straight as all its course.
One can hear any number OF stories of mis-
generosity and kindness on the street.
New York July 22-Bradstreets to-
morrow will say: 8
Midsummer conditions still govern most
lines of trade and manufacture but the
volume of business as indicated by bank
clearings shows little decrease and is
evidently considerably in advance of pre-
YiouS years at this time.
feature in trade this week is the
better demand reported for wool East
and West, largely confined, it is true. TO
few grades of wool This appearance
of activity has given-a decidedly more
hopeful tone 20 this business, which how
ever, is not yet reflected in the manufac-
turing branch.
Eastern wool markets are relatively
the lowest in the world and stocks held
now, it is claim ed. cannot be replaced at
lower prices here or abroad. Indications
that important developments may shortly
be witnessed in the iron trade circulate
This is partly the result of expected good
orders from railroads for rails, of a
larger export business and of a good
volume of small orders, for various
classes of steel.
The statistical position of pig iron has
been strengthened by the curtailing of
production and the reducing of stocks,
! following a production of an average of
nearly one million tons a month since
January l, but some shading. especially
of Southern iron prices imparts an air
of irregularity to the trade.
Effects of the reported advance in
prices by the Bessemer iron combination
have not yet been measured and the re-
suit of this announcement is awaited
with interest.
Dullness 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
Another feature is the active prepara-
ton making in the coast shipping trade
for large business with West Indian
points which is expected to develop as a
result of military and naval operations
The renewal of sailings by coastwise res-
sells and the practical disappearance of
war risks are accompanying features
Cotton is at the lowest price ever paid
at this season of the year, partly On
good crop reports and also as the result
of the announced intention of shut
down by Fall River mills. For the latter
reason print cloths are firmly held at
previous quotations.
Coffee, though well maintained, is very
low in price on reports of another very
large crop.
Rather more attention is given the
Klondike as a result of reported heavy
arrivals of gold at Pacific Coast points
and estimates of a seasons output valued
at $4,000, 900 are current.
Rather more animation is looked for in
the Quitting trade as a result thereof,
but that advices from Alaska are not
wholly favorable is proved by reports
that large numbers of successful prospect
orS are anxious to get out of the country.
Following the usual Semi-annual crop of
small business embarrassments failures
have again dropped to normal Summer
proportions the total number for the
week just closed being 1S8.
Cereals exports continue of a satisfac-
tory volume, wheat shipments for the
week tfour included as wheaD aggregat-
ing 2,303 469 bushels, as against 2,910, ,S27
bushels last week and compared with
hIrg na1e -, lxx9i 9izr, ,1nlr
of 1897.
Corn exports are still in excess of last
week. agrgegating 2.s22, 12s bushels, as
against 2,S22,24S bushels last week and
2,29s,579 bushels in this week a year ago.
New York. July pr. G. Dunn & Co.'S
weekly review of trade tomorrow will
say: y