The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-07-05
.BRAOSTREET'S
WEEKLY REVIEW
Close of First Half of Year
Satisfactory.
CROP PROSPECTS GOOD
PROSPECTS GOOD
MOST WILL BE SHORTER THAN USUAL
Tone of Whea. Market Continues bearsh--
Situation in Iron Mixed--Cereals and
Provisions Unsteady--large
Expor,s in Cereals.

hNPO' -
New York. July 1.-Brad>trect's to-
morrow will say:
In a period. aS usual, devoted largely
10 stock taking and with holiday aud
midsummer influences making Tor Il mar
row and restricted trade. there j. little
that is novel to be found regarding cur
rent distribution. The first half of tn"
wear closes with a very satisfactory
showing. possible in many lines of trade,
as evidenced by the returns OF bank
clearings. railroad earnings. reports rs
to the c~onSumptive and distrlbui,Nr de
mands. and last but not least, by that
infillihle barometer of the mercantile
world. business failures.
H~arbingcrS of the future III" found I'M
the generally favorable crop prospects.
not only of cereals, but at GOTTEN. fruits
and most products Of agriculture, and 4
continued heavy foreign demand for
American produ l.. Few importd:,t
events are chronicled this week i'll the
business world. The scmi-annual shut
down of many industrial concerns. par
ticularIy those in iron and steel and
glass and some textile manufacturing
concerns. has been announced To occur
in the first week Of July. but this has
beer without much effect upon the prices
of those staples. .Adviccs from the West
indeed. lead to the belief that this shut
down. in some cases, may not occur at
all this year. while III others the time
devoted TO repairs and stock taking Will
be considerably abridged. The situation
in iron is Il rather mixed one most com
plants coming from the East. 1t is
significant. however, that the fall in
ocean freight rates has been credited
| with improving demand for iron and steel
| for export. and considerable orders have
| already been booked.
The tone of the wheat market con
tinucs beariSh. Notwithstanding that the
worlds visible supplies have decreased
$4,000, 900 bushels in two weeks. and
that the probabilities are that visible
stocks-of old wheat III August ]. viii b."
as low. if not lower than wears. which
were the smallest on record fer scvru
years. \ heavy falling off in the condl
ton of the Kansas wheat crop Is mdl
Gated.
Rather less steadincss in prices is oh
servabIe. mos cereals. pork. lard. cotton
and several makes of pig iron beng
lower for the week. while the line OF ad-
vance is exceedingly small. SteadmcSs
has been Il feature, however, OF ra"
wool. hides and heavy leather, coffee,
sugar and print cloths. coppcr aud lead.
4 large distribution of blcachcd cottonS
at price concessions has been a feature
and the demand for flags and hrc"ofk9
this year is conceded to be heavily III
advance Of past years.
Cereals still move abroad in quantities
unprecedented for the time of year.
Wheat shipments for the week aGgre-
gate 4,116,4O1 bushels. as against b
ItE) 4IH huShnlS Inst IprE and fOInDI rcd
with 2.17S,S4S bushels in this week =
year ago, 2.6O1 .O96 bushels in 1896. =
OO7.O31 bushels in 1895 and 1,S5O,2o0
bushels III 1891. Corn exports show II
decrease from last week. aggregating
2.601 q bushels. against 3.9o2.32l
bushels last week. 1,323.93S bushels .
year ago, 1.39s,6s1 bushels in 1896,
39S.SG3 bushels in 1899, and 80, 100
bushels III 1891.
In spite of unfavorable features there
were fewer failures, smaller Liabilities
and consequently smaller assets this year
than in any previous year for four years
past.
Business failures number G.l29 eight
per cent. fewer less than Il year ago, and
only ; per cent. larger thin i'll 1893.
Liabilities. too. are smaller. aggrcgating
ST.. 12O.341. - per cent. smaller than
in 1895, and - per cent. below those oC
1913
Business failures in Canada for the
SIX months Of the present year make a
decidedly good showing. They number
S13. involving -. TJ3.G43. II decrease Of
~ per cent. III number and III liabilities
as compared with last year. and making
still better comparisons with earlier
periods.