The herald., 1898-07-23
Bradstreet's Report

NEW YORK, July 22-Bradstreet's to-
morrow will say:
Midsummer conditions still govern most
lines of trade and manufacture but the Vol
ume of business as Indicated by pahk
clearings shows little decrease, and is evil
IDENTIFY considerably in advance of previous
years at this time A feature of the trade
this week is the better demand reported for
wool east and west, largely confined, 1t Is
true to few grades OF wool. Th1s appear
ance of activity has given decidedly more
hopeful tone to this business which, now
ever, is not heard from in the manufacture
ing branch. Eastern wool markets are
relatively the lowest In the world and
stocks now held, it Is claimed, cannot be
replaced at lower prices here or abroad.
Indications that important developments
may shortly be witnessed In the iron trade
accumulate The statistical position OF pig
iron has been strengthened by the curtail-
ment of production and the reduction Of
stocks, following production OF an aver
age of nearly 1000. 900 tons month since
January 1st, but some shading. especially
of southern iron prices, imparts an air OF
irregularity to the trade. Dizziness has been
a feature of the cereal markets. Old wheat
supplies are rapidly decreasing, while the
new crop movement, although In excess of
last year, does not reach the proportions eX-
pected The shipping of Texas wheat to
California Is one effect of the shortage OF
supplies reported. Another feature OF the
business ituation is the active preparation
making in the coast shipping trade for the
large business with West Indian points
which is expected to develop as result of
military and naval operations The re-
newal of sailngs by coastwise vessels and
the practical disappearance OF war risks
are accompanying features.
Rather more attention is given the Klon-
dixie as a result of reported heavy arrivals
Of gold at the coast points ana estimates
OF seasons output valued at $50 900 600 are
current Rather more animation is looked
for in the Quitting trade as result there
Of, but advices from Alaska are not wholly
favorable as Is proved by reports that large
numbers of unsuccessful prospectors 80
anxious to get out of the country.
Following the usual semi-annual crop of
small business embarrassments, failures
have again dropped to normal summer pro-
portions, the total number for the week
Just closed being 1855, fifty fewer than last
week and thirty-two fewer than In this
week year ago.
Cereal exports continue to be Of salts
factory volume, wheat shipments for the
week (hour included as wheaD aggregate
2.3O3, 46g bushels as against 2,91O,S27 bushels
last week and compared with 1,957 ,26S BUSH
els in the corresponding week of 1897
Financial Review
NEW YORK, July 22.-Bradstreet's FL
nancial Review tomorrow will says:
This has been speculatively, an extremely
dull week. The market for several days
has been reduced to dimensions of less than
$50 900 shares again. Commission business
has been at a standstill and the operations
of the professional element, large and
small have been on restricted scale.
. t,oe IN short a Of midi H.
mer dullness of the most pronounced kind.
The war news has been less effective than
ever, so far as the spirit of speculation Is
concerned, though at the beginning of the
week there was some accession of bearish-
ness on the reports concerning yellow fever
among the troops in Florida and Cuba
While the idea that Spain would sue for
peace and the allegation that Germany had
assumed a satisfactory attitude in regard
to our operations in the Philippines, had a
share In creating the stronger undertone
which finally asserted itself. The market
was dull and heavy in the early part Of the
week, but on Wednesday 1t became more
firm In tone with slight advances In the gen.
eral list and some more marked apprecla-
ton in some of the industrlals- This was
in measure founded on the drift Of the wal
DEVELOPMENTS, but it would have seemed to
have grown out of the favorable impress
sion by the reports of the crops and the
harvest; by the reported success of the eff
forts to restore and maintain railroad rates
in view of the large tonnage in sight for
the autumn months, and by the weakening
Of foreign exchange rates, mainly on pros
pective large foreign purchases of our
products. These as we'll as the indications
OF active autumnal trade and the abund-
ance of capital in the country have appar-
emily produced a more confident temper
among large financial interests though the
absence Of any public speculative partlci-
patton is q bar to progress In the direction