The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-07-30
Dun & Co.'s Review

NEW YORK. July Or. G. Dun & Co. g
Weekly Review of Trade will say tomor-
Big business in January is expected, but
| big business in July means more. 1t is the
month of all others when trade Is naturally
| light. New engagements are ordinarily
deferred and men wait for the outcome and
movement of crops But more business is
being done this year than in any previous
July Of which there are records. The pay
ments through clearing houses have been
5S per cent larger than in 1892, the year of
greatest prosperity heretofore, and for the
month thus far So per cent larger than last
year, and 80 per cent larger than In 1872,
judged in the light of heavy declines in
prices since 1892, so that the volume of bust
ness transacted is about 20 per cent larger
than the volume of payments indicates.
Considering that the purchases of nearly
half the people depend on the success OF
agriculture. and that the prosperity Of the
entire transporting interest is materially
affected by the size of the crops to be moved,
it may be said that the reason that the
reason that the promise Of general pros
perity this year is unusually bright is the
The official report of iron production for
the first half or 1898 shows an increase of
nearly half a million tons compared with
any previous year, and what Is more i'm
portant, the consumption in manufactures
appears for the half to have exceeded the
output. Estimating the exports for June,
only five months having been officially re-
ported, the consumption has been 5,slS,s45
ions. against 500 70l tons prodtced. aver
aging SOL, 3T tons monthly. against 1884 $50
tons produced. 1t is we'll to remember that
In June, when production declined because
of stoppage for repairs. the decrease in
unsold stocks was 4216 tons weekly. The
new orders received are surprisingly large
for the season, covering 5000 tons at New
York for rails, and 10000 tons for Russia
and 5000 tons for Japan, with 10000 tons
taken at Chicago, and noteworthy de-
mand for structural forms at philadelphia,
and increasing demand for bars. with
enough to keep the plate mills busy for a
Chicago, and an excellent structural de-
mand, and the heaviest demand for plates
ever known at Pittsburg. Sales Of BESSIE
mer have been heavy, reaching 20 900 tons
at Pittsburg, without change in Prices.
Wheat receipts for the month thus far
have been 1909 1888 bushels, against 0,652 ,O44
bushels last year. but prices have declined
liz cents, and farmers are holding back
their wheat In the hope Of higher prices.
The exports for the week have been 1907
815 bushels from Atlantic ports. flour In
cluded, against 1,7l8,739 last year. and from
Pacific ports 12e,1l7 bushels, against 42s, 291
bushels last year, making for the month
S,SS3, 1893 bushels, against 7,542.467 last year.
crease in large transactions. for which no
prices are named, four being quoted at
Boston covering 100000 pounds, and the
aggregate at the three chief markets has
been 1909, 300 pounds for the week, and for
four weeks 10, 919. 200 pounds, of which u, =
511 400 were domestic.
Failures for the week have been 225 In the
United States against 1856 last year, and 26
in Canada, against % last year.