The times. [volume] (Washington [D.C.]) 1897-1901, 1898-08-20

New York, Aug l9.-Dun's weekly re-
view of trade tomorrow will say:
"a war which brought no shrinkage
of business while IL lasted has brought
with its ending quite remarkable ex-
pansion. Orders and purchases have in
creased in nearly all branches, few as
yet being of such nature that they can
be attributed to the material enlarge
ment of trade with the lately Spanish
islands, which must come a little later
THE stock market has meanwhile ad-
vanced TO the highest average for rail-
road stocks. s62.51 per share on Wednes-
day, that has been known for over five
years, and the profit-taking on Thursday
did not lessen general belief in still high
er prices.
Though the average is higher by SO
per share than when the war began,
foreign exchange shows weakness Lon
don buying 1900 shares on balance for
the week, and there is prospect of fur
Their imports of gold In payment for the
great crops now going forward.
THE outlook is made still brighter by
handsome earnings on important roads
and increase of the dividend on Burling-
ton and Quincy to 6 per cent, not over
having been paid since 1872 The fuller
returns for July make earnings per
cent above 1892. 1t is odd that the iron
industry, while reporting decline in pro-
ducts, shows more surprising gains in
business than in any other. The returns
of output to August l show considerable
decrease from July /, but more than the
entire decrease is caused by the stop
page of two Shenango and four Mahon-
ing furnaces under agreement 10 force
higher prices for Bessemer pig. In all
other States showing change the out
ir1ov cd
in Virginia. The demand for finished
products expands remarkably.
There is a general advance in the mi
nor metals-copper to II cents, lake lead
to s4.07 1-2-and while tin and tin plates
are unchanged, both are stronger. Ship
ments of boots and shoes In three weeks
of August are the largest ever known.
Leather has slightly yielded In some
grades, with scarcely any buying ahead
of necessities, and hides were shade
lower last week and have not changed.
There appears gradual accommodation
of prices of materials to the necessities
of boot and shoe distributors. Such an
adjustment is needed in the wooden in
dustry, for some mills are closing and
others are selling old stocks of wool, pres
ent orders for goods not warranting pres
ent prices for material. OF cotton mills,
also, though a few have stopped, quite as
many have started, and the demand for
staples is increasing and in prints and
ginghams is fairly good. The yielding in
cotton to 7-Sc helps the mills and is not
surprising with present prospects of a
great crop. Wheat has further declined
&c in spite of general holding of better
grades by farmers, which renders receipts
low and visible supply small beyond pre-
cedent. At 76 cents now Atlantic exports
for the week have been 3.G59, $50 bushels,
flour included, against 81 ,2S7 last year,
and Pacific exports lis, 400. against 1884, sac
last year, making for three weeks 1O,115,-
246 bushels, against 10,453, $50 last year
Corn exports are gradually declining and
are &c lower, rather larger estimates OF
yield being now credited.
1.-The volume of business through clear
ing house has been for the week II per
cent larger than last year, and 80 per
cent larger than in 1892 and returns show
increase outside of New York as well
as here.
Owing to deduction of one large re.
ported failure for s50O0,0OO last week
which on further investigation proves te
| be not properly failure, the returns fol-
two weeks show liabilities Of only So. 32I, 40
against s4,336,279 last year, s16.5so ,2s6 il
1896, 1887, 597 in 1885, and 49, 4S3 3l5 in 1894
Manufacturing were s946,o92 for the tive
weeks against s1,SS6,461 last year, am
| trading 81. 190,169 against $2,142029 las
year, Failures for the week have bee