The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-08-06


couraging features of trade at the present
time.
Prices are quite generally frmer, tend
ing upward In spite of the midsummer qui- |
etness in many lines of trade. As re-
suit of operations In July, 81. or about one |
third of all staples, advanced In value; u
declined, while A remained steady or un- /
changed. Advances in many cereals, ex-
cept wheat and -four, live beeves and hogs, |
a number of provisions, dairy products ana
groceries most raw textiles except cotton;
petroleum, rubber, alcohol. opium and quiz |
nine are features of the months operations.
Important decreases, aside from that IN
wheat, are found in some makes of iron
and steel and some other metals, and in
building lumber
Compared with August one year ago.
&C out of 104 staples are higher 20 are lower
and nine are unchanged, so that it may be
said that compared with year ago, there
have been more than two advances for
every decline reported
Business failures in the United states are
at minimum, numbering 1883, idt1tlcaiAn
number with those of last week, but COM
cared wi, With %; "a this ny wes az Sea ago.
| Canadian failures number %. againss. 81
last week, Il in this week a year ago, s. in
! 1885, 81 in 1895. and 40 In 1874
Financial Review
NEW YORK, Aug. 5.-Bradstreet's FL
nancial Review tomorrow will say
Peace negotiations and the better outlook
for the corn crop, resulting from rains at
the west. have brought change In specu-
/ latlNe conditions. Inc STOCK market mas
been broader ard shows the presence Of in
creased public participation. Prices have
tended to advance, though the Industrial
securities bore an important part In the
| weeks movements. renewed attention has
been paid to the railroad share list ana the
Granger stocks have resumed their posi-
ton of leadership, Bonds have been active
and strong, governments showing decided
disposition to advance The new three per
cent war bonds are the object Of decissd
buying demand and touched lo5A. while while,
have been higher. In the railroad bond list
the advances have been marked. an invest
ment demand resulting in new price rec
ord for many Of the reorSanlzed roads, IKE
Erie. AtChison and Northern Pacific, Wni!e
speculative purchases have helped values
for the cheap, low grade issues. London
has not been an important factor, ana
though sentiment there is favorable there
was some foreign selling on the advances
here. 1t might be noted that the chief eff
feet of the peace prospects on the market
abroad would not cause the rapid advance
in the price of Spanish tours, which touched
~ in London, while at Madrid the gold
premium fell to 81.
The beginning of gold importations pro-
duced little impression, owing to the pie
, thora of money; and far more sgnihcan n,
has been attached by the market 70 20, me ne
present outlook for an average yield OF
corn This is reflected by the decided
strength of the securities of corn carrying
railroads and the reappear9nce OF rep3riis
= | concerning increases of dividends or their
resumption by a number of companies. AT
the same time the revived activity Of the
railroad list has been partly at the expense
| of the industrials. Some of the latter group
which have been the objects OF bulllsn ipa-
nipuation showed a disposition to lose part
of their recent advances
Dun & Co.'s Review
NEW YORK, Aug. Or. G.. Dun G. Co.'S
Weekly Review of Trade will say tomor-
5 row:
Prospects of peace stimulate many kinds
: | of Inc n mi n =
preston prevails that delay and hesitation
! have legitmatey resulted from the war
/ ana larger contracts are in fact coming for
ward for iron products. and a general bet
ter demand in most industries. The vol
ume of payments through all clearing
/, houses was the largest ever known in July
being per cent larger than in 1892 fer the
month, and in the past week III per cent
larger. Most industrial works have re-
sumed after a shorter vacation, with fewer
participating than usual. A few labor trou'
. bes call attention to the fact that this
! season has been remarkably free from sucf
hindrances ..,
I els of wheat this year, the price Is 2lsc high
er for the week. The disposition OF farm
ers to hold back their wheat for prices
counts for smaller receipts than last year
but exports, including flour, were 9,G4i,ti
bushels against 2,530,72 for the same weel
4 year 12i74 .SS9 bushels. against 9.S73.1s2 las
Z year. A rather better demand for stapl
Z cotton goods does not relieve the over-pro
. duction in the print cloths and goods ar
practically unchanged in price. Western
3 stiffness in holding wool and the new Eng
( lish wool paper drifting this way and large
! ly refused, Indicate another attempt TO tir
Z out the manufacturers, who are actual.
I offering for worsted wool four to five cent
below asking prices, and buying scarcei!
q any. Several mills have closed for tn
Z time rat her than pay prices asked for wool
The iron manufacture has nearly, If no
Z quite, resumed its full production. excep
{ in the valleys, where Bessemer producer
= are closing in turn Under agreement t.
force prices upward. While there has beel
large buying, one Pittsburg steel concerl
4 with all its furnaces at work taking 900
! tons more. the price there does not chang
= las yet. nor does local pig at Chicago, al
Z though with much better buying, one south
= ern concern advancing its price p per cent
The demand for rails includes bids for mex
| winter and next year, a chicago sale o
G 1000 tons for Japan and eastern sales o
V 5000 tons for American roads, 5000 for Prime
Edwards Island next year. and 2i,WO de
Z liverahle in three years for Mexico. Plate
are in unprecedented demand, both cas-
Z and west, and structural works are full
. with large contracts coming forward in a
Is sections.
2 Failures for the week have been 1856 4
the United States. against 23I last veal
and q in Canada, against % last year.
Treasury Statement