The age-herald., 1898-07-30
CLEARING HOUSE PAYMENTS
Have BeBn 6.8 Per Cent Larger Than
 Year of Greatest Prosperity.
REPORT OF PRODUCTION OF IRON
Shows a Reduction of Over Half Mil lion, but the Output Has Been Ex- ceededby the Consumption
 Failures for the Week.

New York. July 29.-R. G. Dun & Co.'S weekly review of trade will say tomorrow:
 Big business in January js expected, but big business in July means more. It Is the month of all others when trade is natur- ally light. New engagements are ordi- narily deferred, and manufacturers wait for the outcome of crops. But more busi- ness is being done this year than in any previous July of which there are records. The payments through clearing houses have been 5.S per cent. larger than in 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 in 1892. But these records and others have to be judged in the light of heavy decline in price, since 1S92 that the vol ume of business transacted is 20 per cent, larger than the volume of payments indi- cates.
 Considering that the purchases of nearly half the people depeno upon the success of agriculture and that the prosperity Of the entire transporting interest is materially affected by the size of tue crops to be moved, it may be said with reason that the promise of general prosperity this year is unusually bright. Wheat receipts for the month thus far have been 7309,3 ,333 bushels against 10652,074 bushels last year, but prices have declined 11l2 cents and farmers are holding back their wheat in the hope of higher prices. The exports for the week have been 19O7Sl5 bushels from Atlantic ports, kfiour included, against 1,71S.
 Exposts for the Week
 The exports for the week have been l. 3O7 S15 bushels from Atlantic ports, flour included against 1,71S,7 ,73S last year, and from Pacific ports 126417 bushes, against 429,901 last year. making for the month B. S33, ,1O2 bushels, against 7,S42467 last year.
 Corn has Little advance. Exports, G. 76796s bushel& against S,0O9.616 last year.
 The prospect for cotton is generally very good, though too much rain Is reported in Some southwestern states. The manu- sfacturer is a little encouraged by better demand though prices did not improve. The effort to curtail production at Fall River has been checked by refusal of mills at other points to cooperate
 The sales of weels shows remarkable increase in transactions for which no prices atre named four being quoted at Boston, covering 2,600,000 pounds, for the week. and for four weeks 19,919, 200, Of which 12511, 400 were domestic, against 46,- 109,2 200 ast year. of which 2153S,50 were domestic and 326S9,9 $50 in 1892, of which 21,- 900 were domestic. The demand for goods is rather better.
 Iron Production
 The official report of iron production for the first half of 1898 shows a reduction of over half a million, and what is far more important, the consumption for the half year seems to have exceeded the output Estimating the exports for June, only five months have been officially reported, the consumption has been 5,54S ,450 tons, against 5919,703 produced, averaging 991 ,391 tons monthly, against 904, ,95O tons produced. 1t is well to remember that in June when production declined because of stoppage for repairs the decrease in unsold stocks was 4,216 tons weekly. The new orders re- ceived are surprisingly large for all kinds, with the heaviest demand for plates ever known at Pittsburg.
 Failures were 225 against 236 last year.