The age-herald., 1898-07-09
PRESENT WAR WITH SPAIN
Has Not Caused Any Increase in Cemmer-
 Cial Disasters.
SUPPLIES FOR THE COMING YEAR
Promise to Largely Exceed Home Requirements snd Full Export Demand, Though Europe May Require More Than
 Usual for Some Months.

New York, July SIR. G. Dun's & Co. s weekly review of trade will say tomorrow:
 The usual half yearly statement of fail- ures in all branches of business is peculiar ly interesting because it shows that war and fears of war have not caused increase in commercial disasters. The surprisingly large decrease in trading defaults would without doubt be accompanied by corre- spending returns as to manufacturing, but fer excessive expansion in some lines and the helpless condition reached by few large firms in other branches. Failures during the second quarter have been small CT than in the same quarter for the past four years and in trading and in manufac- turing smaller than any year except 1894. The fiscal year has ended with financial re- suits shade beyond general expectations and the new war tax begins to increase revenue not seriously disturbing business In any line No reason yet appears to below expectations.
 Criticisms of crop estimates is the less needful because the best authorities all agree that supplies for the coming year promise to greatly exceed home reuuire- iiSHtS anu d Iull t&pOfI ueIDdnQ though for month or two yet Europe may re- quire much more than usual. This will help to sustain the market, while the earlier receipts are coming forward and prices will then be determined largely v the outlook for crops abroad, which is not as yet entire ly encouraging. Wheat has reflected but little, the improved prospect advancing from S5 to 90 cents for spot regardless of the usual stories of injury, the current com- merciai conditions and the developments re- ports being apparently distrusted by the trade.
 The Cotton Crops
 The cotton crop looks better and the prospects is reflected in a decline of a sixteenth in the spot price. The manufac- turing works at the north are quite well employed, much more than usual during the vacation season and the demand for goods is somewhat improving. Abroad the state of the manufactures does not en- courage hopes of an extraordinary demand for the new raw mater1almb hm hm hmm for theraw material, while the stocks held by millers are known to be unusually large, The south is increasing the manufacture rapidly, but not entirely in place of north- ern mills. There Is no Encouragement in other textiles, and business is good and growing in silks, bagging and hemp prod ucts.
 The manufacture of wool halts although a distinctly better demand appeared dur ing the past ten days, because the prices at which western wool is held are too high for eastern markets, and apparently too high for profitable manufacture. Sales for the week at the three chief markets have been only 32O0,OO0 pounds, of which 800 pounds were domestic against 14,- 120.500 pounds last year, of which 6,9S9,590 pounds were domestic, and 6119,350 pounds in the same week of 1892, of which 3.651 500 were domestic. The markets are so dull in spite of fairly large demand for ter ritory and Australian wool in blocks, but the manufacturers are very cautious in purchasing, although theres every evil dence of great consuming demand for goods which American manufacturers with reasonable cheap material can supply
 It is not enough to dismiss the iron in dustry with the bold statement that it is using up more iron, even at the steep est point of the year than ever before. It Is getting bigger domestic contracts for agricultural implements and car materials md also for structural work than in any previous year, but especially for plates, the demand for which quite overruns the capacity of all the works and not mainly on government account.
 Failures were 229, against 2O6 last year.
 BRADSTREET'S REVIEW
 New York, July S.-Bradstreet's tomorrow will say: