The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-08-27
Bradstreet's Report

NEW YORK, Aug. 2.-Bradstreet's to-
Business interests in the main reflected
the continuance Of the most favorable fea-
lures hitnerfo dominating the trade situa-
t ton IN the more favored sections of the
course, are the iron and steel and allied
industries. in which active demand, pres
e1t and prospective, has led to further price
ADVANCES, sustained and even increased ao-
tivity ~ distribution at most western mar
kets. With some Improvement likewise noted
At the south and on the PACIFIC coast, stead
mess IN prices, wheat, corn and cotton, how
ever, excepted, reduced number of bust
ness failures, fair gains in railroad earnings
as a whole: and bank clearings, in spite Of
slight reduction from last week, showing
In previous years.
The less favorable elements of the situa-
ton are the reports Of arrested or smaller
more particularly In textile lines, lower
quotations and apparently less active de-
mand from abroad for our cereal products,
and reduced prices paid for the south's
latter might be mentioned the fact that
spring wheat has apparently begun to move
In the northwest and the promise Of large
yields in wheat and cotton alike has tended
to depress prices.
In the iron and steel trade the strength
developed has been notable and the conf
d as1,;s expressed is striking In view Of the
grant price demands. The situation of the
iron and steel mills however, with order
books filled for from thirty to sixty days
Is one of aggressiveness, and numerous or
ders have been turned down because of time
limits demanded or set for delivery. Ad-
vanced quotations for Bessemer pig iron,
steel billets, lead, copper and spelter are
features of the week, and even tin plates
show gain In prices, after long period of
The feature Of demand at western markets
this week has been the inquiry from Job
bers Of dry goods, clothing and boots and
shoes, special activity being noted at CHI
cago, st. Louis, st. Paul, Louisville and
Omaha.
Wheat shipments for the week, including
flour, aggregated 1858 ,476 bushels. as against
3,sss,s4S bushels last week, 5,14s,5S3 bushels
bushels in 1896, i.s7l ,S2S bushels in 1895, and
3,420 900 bushels in 1884,
Business failures in the United States this
compared with 210 in this week a year ago,
800 in 1885, 1870 in 1895, and 1872 in 1894.
Business failures in Canada this week
week a year ago, 81 in 1896, and "a in 1896
Financial Review
Bradstreet's Financial Review tomorrow
will say:
Reactionary tendencies marked the early
part of the week, the market also showing
a decreased activity and falling off Of the
recent public interest in speculation. A
Ing tendencies has. however. appeared in
the last two days. There has been no posi-
tive news Of an unfavorable character apart
from rumors that warm weather was in
1uring the corn crop at the west and a
hardening of the money market, which lat
ter circumstance Is practically offset by the
easier tendency In rates of exchange. Che
depression may accordingly be charged
partly to the heated term, partly to pro-
fessional- SPECTATORS realizing on their pur-
chases. There was also renewed evidence
Of bearish manipulation, and the sharp de-
cline of Manhattan, which was one of the
features of the week, was generally charged
to that cause It's subsequent fltmness and
recovery also seemed to represent covering
of short interest In 1t. While few stocks,
notably Northern Pacific, were exception
ally strong, the general list seemed off I'M
der realizing sales and bearish pressure,
this being apparent In the grangers and
other portions Of the list that have recently
made such marked advances. London,
while sending its prices higher, has on the
whole been seller Of our stocks on balance.
The bond list has been strong, though Its
features have been mainly cheap special
ties like Texas Pacific second incomes and
Standard Rope and Irvine securities In all
of which marked advances have been
scored.
Government bonds have not been as ac-
tive, as the demand for the older Issues has
slackened and fractional recesslons have
been recorded in some cases, The new three
per cents, after touching 1854, also reacted
to 105h on sales of allotments by. subscribers
ceived notice Of acceptance.