The herald., 1898-07-02
Bradstreet's Report

NEW YORK, July 1.-Bradstreet's to-
morrow will say:
In a period as usual devoted largely to
stock-taking and with holiday and mid
summer influences making for narrow
and unrestricted trade, there is little that
is novel to be found regarding current dis
tribution. The first half of the year closed
with a very satisfactory showing In many
lines of trade, as evidenced by the returns
of bank clearances, railroad earnings, re-
ports as to the consumptive and distribu-
tive demands, and last, but not least, by
that infallible barometer of the mercantile
world-business failures.
Harbingers of the future are found in the
generally failure crop prospects, not only
of cereals but of cotton, fruits and most
products Of agriculture and continued
heavy foreign demand for American pro-
ducts.
Few important events are chronicled this
week in the business world.
Advices from the west, indeed, lead to the
belief that the semi-annual shutdown of
many industrial concerns in some cases
many not occur at all this year, while in
others the time devoted to repairs and
stock-taking will be considerably abrogat-
ed. The situation in iron is rather a mixed
one, most complaints coming from the
west. 1t Is significant, however, that the
fall in coast railroad rates has been cred
tied with improving demand for iron and
steel for export and considerable orders
have already been booked, notably some
steel rails for Egypt and Mexico. while or
ders for 1900 tons are reported refused on
account of time limits set. Pig iron and
steel rails reflect the lessened activity in
shading Of prices. The tone of the wheat
market continues bearish notwithstanding
that the worlds visible supply has de-
creased 13.70O,0OO bushels in two weeks,
and that the probabilities are that visible
stocks Of old wheat on August will be
as low, If not lower. than last years, while
they were the smallest on record for seven
years. A heavy falling off in the condition
of the Kansas wheat crop is indicated.
Rather less steadiness in prices Is OBJ
servable, most cereals pork, lard, cotton
and several makes of pig iron being lower
for the week, while the list of advances is
exceedingly small
Steadiness has been feature, however,
of raw woods, hides and heavy leather, cof-
fee and print cloths, copper and lead A
large distribution Of bleached cottons ar
price concessions has been a feature and
the demand for fireworks and flags this
year is conceded to be heavier In advance Of
past years.
Cereals still move abroad in quantities
unprecedented for the time of year. Wheat
shipments for the week aggregate 4716, 4O1
bushels as against 3,799,479 bushels last
week and 277S,848 bushels In this week q
year ago.
In spite of the unfavorable future there
were fewer failures, smaller liabilities and
consequently smaller assets this year than
In any previous year for four years past.
Business failures number 6.429. per cent
fewer than a year ago; Is per cent less than
two years ago and only 3 per cent larger
than in 1893. Liabilities. too. are smaller,
aggregating $7212O,341, q per cent smaller
than last year and 81 per cent smaller than
two years ago.
Business failures In the Dominion of
Canada for the six months Of the present
year make decidedly good showing. They
number S13, involving 81, 100, SAB, decrease
of "a per cent in number and in liabilities
as compared with last year, and making
still better comparison with earlier periods.
Financial Review
NEW YORK, July 1-Bradstreets Finan-
cial Review tomorrow will say:
Speculation continues to be narrow and
professional. There has been an unmis-