The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1898-06-08
TRADE CONDITIONS.
They Continue to Improve in All
Directions.
NO SIGN OF DANGER APPEARS.

Confidence Is on the Increase and Failure
Grow Smaller - Merchants Anticipate
the Greatest Fall Business on Record
Demand for Iron and steel L. Very Live
ly-Crop Prospects Exceedingly Good
Drop in the Price OF Cotton.
New York. June 6.-R @. Dun a.
Co.'S weekly review of trade says: May
having heen the first full month of
actual war. the fact that failures in that
month were smaller, even though but
little, than in the corresponding month
last year and nearly 10 per cent. small
er than in May, 1896. is somewhat en-
couraging the more because year ago
the remarkable decrease in May gave
proof of the heavy Improvement in
business which made the year so graft
flying in general results. Large failures
were eight in manufacturing, for ST.
$4,000, this year against thirteen, for
81 965, eco. last year; and in trading five.
for $3.50, 600, against ten for Sl,576,O0 in
1897. Hesitation in extending usual
credits soon after war began naturally
affected weak more than strong con-
Germs, but IL soon gave place to steady
ana increasing confidence. Wheat
dipped "A cents from the highest point
an the May deal eliminated, and has
since been weaker for July because Of
accounts promising an enormous yield.
Predict 100000 900 Bushels.
Those who were nearest the truth last
year now predict about 100000 600 BUSH
els for 1898, and all accounts make acre
age much larger and conditions much
better than year ago. But with Sl.15
still paid for No. red in elevator and
a foreign demand taking 4,294, 49S BUSH
els, -four included, from Atlantic ports
for the week, against 2,165.7S1 bushels
last year and ,439 bushels from Pa
Cific ports, against 1929 bushels last
year the decline evidently hastens the
marketing of surplus and gives the new
crop better chance. II is not less sur
prising that western receipts for the
week were 4263. 500 bushels, against 3,
099, 795 last year. although the crop has
been by some supposed almost exhaust
ed, and corn receipts We're also 7,016,49l
bushels, against 6,116523 last year. Elk
ports Of corn for the week have been
1881 500 bushels, against 1926 500 last
year and for the first time in history
exports of each grain have about
200, 600 900 bushels in the same year.
Drop i'm Cotton.
OF all the great industries. the cot
ton manufacture only gives some signs
Of shrinkage, cotton having dropped
sixteenth during the week after a rise
in goods averaging for the month about
1 per cent, thus rendering the market
ing of accumulated stocks somewhat
more difficult But print cloths have
advanced, and in most staple goods the
demand is improving. Wooden mills are
encouraged by a somewhat larger de-
mand for goods, in part from govern
ment orders, and are averaging about
/ per cent. better prices for goods than
a month ago. There is not much de-
mand for wool which is still held in the
main above the views of manufactur-
ers, and prices have declined an average
OF half a cent for the month. The iron
and steel manufacture leads all others
in gain over previous years, its con-
sumption of pig being apparently more
than a million tons per month, or 22S,-
600 tons each week, against 1908 tons
per week i'm May, 1892, an increase Of
1876 per cent.
Crowded with business.
Works beyond the Alleghanies are
crowded with business and. while some
eastern concerns are running part time,
mostly bar mills, the government de-
mand is felt most in this section. Above
all others in significance is the wholly
unprecedented demand from agricul-
tural implement works, which throw in
the shade all their past orders, while
the plate and rail manufacturers are
beating all records partly with foreign
orders, one for Canada having been
placed at Chicago for 1900 tons.
Structural work is heavy, the west fur
nishing large share of it. and in sheet
bars and rods for fencing the orders
are large. Prices Of pig iron have been
somewhat strengthened by enormous
buying orders for Bessemer and basic
at Pittsburg and Of charcoal at Chicago.
Failures for the week have been 222 in
the United States, against 24l last year,
and sixteen in Canada. against thirty
two last year.