The herald., 1898-06-18

millers It Is true that the continued wet
weather In sections west OF the Mississippi
opinion leads to a crop of 100 000, 900 bushels
Of wheat and large yields OF most other
cereals, with corn promising least favor
able.
steadiness, the only important decreases
being In southern pig iron, wheat and flour,
while hogs are higher In the west
number OF metals have been advanced and
oats, corn, lard and cotton note fractional
The west and northwest continue the
scene of relatively most activity alike in
demand and movement of merchandise. The
excellent crop prospects In the northwest
are reflected In a satisfactory trade in sea-
sonable goods and relatively larger vol
ume of roders for fall trade. with the ag-
gregate sales at most cities heavily In ex-
cess OF the corresponding week IN recent
years.
Wheat exports for the week aggregate
1850 ,7s7 against 4sa.sS2 bushels last week
| and 2, ,74I ,319 bushels in this week year ago
last week. amounting to 4,l060OO bushels as
compared with 4.774,S03 Ia the preceding
week. and 1,e24,a1S bushels in this week a
| year ago
Business mortality In at a low point. the
failures for the week numbering only 2o7.
| IA smaller than a week ago, 10 fewer than in
the corresponding week of 1897 and So small
| er than In this week in 1895.
Failures. in the Dominion Of Canada MINI
Der 10, q decrease Of seven from last week;
q from the total in this week year ago and
16 from 1896
Financial Review
NEW YORK, June 17.-Bradstrcet's FL
nancial Review today saysi
The action in the values occurred early
In the week, resulting in more or less liqui-
dation and bear selling and. somewhat
lower price throughout the share list The
declines, except in few instances, were not
severe. considering the extent Of the pre-
vious bull movement, and the market soon
became steady and later In the week gave
| sysptoms of renewed advances. This was,
however, mainly on short covering and one
rising tendency was the decrease Of public
participation, professional manipulation
being once more very apparent London was
| a purchaser of stocks to limited extent on
| the decline, but the active interest In Amer
leans there was small and the London mar
ket generally is sluggish and narrow. At
the end of the week industrials and special
ties were the principal objects of the trad
| ing. The bond issue and the war news have,
of course, been features, but the principal
influence In the market this week was the
collapse OF Letters grain operations at
Chicago. 1t is now recognized that this was
hanging over the market for little time
and was the probable cause for the change
of leading operators from the bull side of
stocks. The actual news of the develop
ment at Chicago last Tuesday was, how
ever, surprise, and disagreeable one to
the street at large. The western contingent
was a heavy seller of stocks and there was
a general fear that banks or other large in
terests might be involved, which were
promptly reflected In the course of PRICES
for railroad securities. Indeed, the feeling
of apprehension on this score was not thor
oughly relieved until the close Of the week
when it was apparently established that
the losses would fall mainly, if not entirely
on the chief actor in the episode and his
backing: In this connection 1t may also be
noted that the reports of the continued
rains at the west and the damage to the
crops have been influential to the bears
while the continuance of rate cutting, both
| east and west, has also been held as an un-
favorable element in the situation.