The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-07-30
THE CONDITION OF TRADE
Dun's and Bradstreet's Weekly
Review of Business.
A PROMISE OF PROSPERITY
An Increase OF Half a Million Tons in
Iron Production-New Orders Re-
csived Are Surprisingly Large.
Holding Back Wheat.

New York. July es.-R. @. Dun & Co.'S
Weekly Review of Trade will say to-mor-
row:
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 or
dinarily deferred. and men wait for the
outcome and movement of crops. But
more business is being don this year
than in any previous July where there are
records. The payments through clearing
houses ave been SIS per cent larger than
I'm 1892. the year of greatest prosperity
heretofore. and for the month thus far
6.5 per cent larger than last year and s.4
per cent larger than i'm 1892. But these
records and the others have to be judged
Ia the light OF heavy declines In prices
since 1892, SO that the volume of business
transacted Is about 20 per cent larger
than the volume of payment indicates.
Considering that the purchases of near
ly half the people depend ON the success
OF agriculture and that the prosperity OF
the entire Transporting interest is ma
terially affected by the size of the crop to
be moved, It may be said that the reason
is that the promise OF general prosperity
this year is unusually bright.
The official report Of iron production for
the FIRST half of 1898 shows an increase of
over half a million IONS compared with
any previous half-year, and what Is FAR
more important the consumption I'm manu-
features appeares for the half to have
exceeded the output. Estimating the ex-
ports for June, only five months having
been officially reported. the consumption
has been 5.9is.3i5 tons. against sos, 7Ol
produced, averaging 991 .391 tons monthly,
against sS4. $50 tons produced. 1t is well
10 remember that in June, when the pro-
duction declined because of stoppage for
repairs, the decrease In unsold stocks was
a.2l6 tons weekly. The new orders re-
ceived are surprisingly large for the sea-
son. covering 5000 tons at New York for
rails and u, 600 tons for Russia and 1000
tons for Japan, with 10000 taken at Chi
cago, and a noteworthy emand for
structural forms at Philadelphia and In
creasing demand for bars, with enough
to keep the plate mills busy for a long
time; a larger demand for bars at Chi
caeo. including one order for 5000 tons
of implement stun and an excellent struc-
tural demand, and the heaviest demand
for plates ever known at P~ittsburg. Sales
of Bessemer iron have been heavy, reach
ing 5000 tons at Pittsburg, without
change I'm prices.
Wheat receipts for the month thus far
have been 1909. 1888 bushels. against l0.652,-
GA last year, but prices have declined liza
cents. and farmers are holding back their
wheat in the hope of higher prices. The
exports for the week have been 1907, Sl5
bushels from Atlantic ports, -four In
cluded. against LIS. 1879 last year, and
from Pacific ports i26. III bushels, against
429. POI last year, making for the month
1888, 1873 bushels, against 1892, i67 last year.
The sales OF wool show a remarkable
Increase in large transactions. for which
no prices are named. four being quoted at
Boston covering 1900. 900 pounds, and the
aggregate at three chief markets has been
1909. 300 pounds for the week, and for four
weeks 1919. 200, of which l2,5l1, 400 were
domestic.
Failures for the week have been 2o In
the United States, against 26 last year,
and &c in Canada, against rs last year.