The times., 1899-07-08

to prices points to a steady strengthening
Of quotations of staples and exceptionally
few decreases in prices registered in June.
Details of foreign trade for the year are
not yet available, but all indications favor
a total of export trade little below that OF
last years phenomenal total, what little
falling off there has been shown being due
to reduced European takings of American
food products Preliminary reports as to
railroad gross earnings indicate an excep-
tionally good showing for the month and
the half-yearly period, the gains in fact
being the heaviest reported this year.
Turning from review of the past to
considerations of the future we find ex-
ceptionally promising conditions present
ing themselves in most lines of trade. Dis
tributiye business on seasonable account
is naturally on a small scale, but orders
for fall delivery are reported particularly
liberal and making favorable comparisons
with last year. In, the. iron trade the
strength of prices and demand is still the
most notable feature. further advances in
pig iron being notable this week, quota
tions for Bessemer iron going well above
the $40 mark. The industrial situation is
slightly easier, mainly owing to the in
creasing likelihood of a compromise be-
tween the tin plate makers and their en-
ployers. which may result in the shut
down in that industry proving only tenn
Is
in the woolen trade Prices of the better
grades have been advanced this week on
active demand from dealers and manufac-
turers and in sympathy with the advance
at London. The manufactured product is
strong and the new season opens well.
Cotton has strengthened quite consid-
erabiy owing to very heavy rains culmi-
mating in disastrous floods in Texas. Spe-
! cial kilograms to Bradstreet's would indi-
.afa ~ rtgI ~ 1.y,
age are as yet unattanable, the outlook
is for falling off of 900 bales in the
Texas yield, and the damage to property
ranging in the neighborhood of at least
S100G0,000 The wheat market has moved
within a narrow range this week, weather
conditions furnishing the basis for most Of
the changes shown.
Among the industries which report a
more cheerful outlook than for some time
| past is that of anthracite coal, which was
advanced 25 cents a ton on July l.
New York, July 7.-Dun's review to-
morrow Will say: Failures of the first
half of 1899. with banking and financial in
/ cluded, were 1854, with liabilities of $40
/ 664, ,661. Commercial failures were 1853,
! with liabilities of $42.062. 1888, of which
/ SIG, ,723, 353 were manufacturing. and
I S23, 3,011,3 ,364 were trading. In the Sec
ond uqarter failures were the smallest ever
! reported in that quarter OF the twenty-five
I years for which quarterly reports have
been made by this agency. The half year.
I ly return shows revenue so large that
| the excess of expenditures, only sSS,S75.-
/ 9S9 for the fiscal year, is nearly s25, 900 900
smaller than Secretary Gage estimated, the
large gain in recent monthly receipts and
1 the decrease in expenditures resulting
! from war promising a surplus this year,
while the Treasury gold reserve is but
| slightly below the largest on record The
volume of business shown by clearings is
| 1873 per cent larger than in 1892 for the
week, and for June 3S per cent larger than
last year, and 55 per cent larger than in
| 1892. Stock speculation cannot be credi-
| ted with the increase, for in June 30 per
/ cent was in the chief cities outside New
! York. Railroad earnings for the half year
| have been the largest ever known, on
| 900 miles SO per cent larger than last
| year, and 10.5 per cent larger than in
1892, all sections showing gains for the
! year. and all but the coal roads over 1892
1t is not strange that stocks close 81 cents
higher per share for railroads. Industrials
also closed s1.35 higher for the week.
Failures for the week have been 1l9 in the
| United States against 229 last year, and
! 20 in Canada, against II last year.