Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-08-03
THE BUSINESS SITUATION.

Bradstreet's for this week says:
"Iron and steel are firmer at the East
and higher South and West, new BUSH
ness being most notable in the latter
sections. Official statistics of pig iron
production for the first half of 1899
point to the largest production on
record, having been insufficient to
Offset current demand, and stocks at
the close of the half year are far below
what they were at the opening or at
this time one year ago. New and old
furnaces have gone into blast but
slowly, and, while reassuring sdvices
rs TO supplies of ore and fuel are re-
ceived, consumers Of pig iron are un-
doubleday nervous. The question of
transportation of raw material, too, is
an important one, complicated as it is
by labor troubles in the lake ore trade,
some of which, however, have been
settled Special activity in the iron
and steel industry is reported at Chi
cage, where heavy advances have been
made in finished products, and numer
GUS shipments are reported not only TO
Ohio and Pennsylvania, but as far east
as Boston. Every blast furnace in the
Birmingham district is expected to be
in operation by the advent CT autumn,
but the production for the latter part
Of the year 1899, which promises to be
enormous, has all been booked. Some
thing approaching nervousness is dis
cernible among manufacturers over the
labor situation, but few. strikes of
skilled labor are to be reported. The
industrial situation generally remains
favorable, although the restlessness fire.
quently noted at this time of the year
has developed at many points in strikes
of unskilled labor. The glass trade is
reported particularly active, and con-
ditions in that industry are said to be
the best for years Fast.
1.-THE cereal markets notes little
change in price, but trade opinion
seems to favor steady demand and few
fluctuations, in view of admittedly largo
necessary takings by foreigners. Hot,
dry weather in the West, complained
of early as unfavorable TO best growth,
was later reported relieved by cooler
weather and needed rains, particularly
in the corn belt. In this latter cereal,
crop prospects in the surplus produc-
ing States are still bright. Liberal
rains at the South, particularly in the
Atlantic coast States, have improved
cotton prospects, and o slight shading
in price is to be noted for the week.
"Bank clearings for the week aggre-
gate 81, asa, S04, $50, falling off Of IL
per cent from last week, but an increase
of AZ ger cent over this week year ago,
and over 1907, of S3 per cent over 1896, of
81 per cent over 1894 and Of 80 per cent
over 1899"
r. G. Dun & Co. IS Review notes the
labor troubles, but adds that Inter
ruption of business by labor troubles of
all sorts has been less than in any other
July for years. Railroad business for
July shows the largest increase in any
month this year. IL. per cent larger
than last year and TO- per cent larger
than in 1892 The volume of foreign
trade gains, with larger exports for the
week from New York, slightly greater
than last year, and for the month
about liz per cent. smaller, while the
imports from New York, 20 per cent
greater than last year for the month,
fairly indicate good excess of exports
such as was seen in June, owing to the
great improvement in the outgo of
manufactured products.
1.-THE clearings for the week past
show outside New York an increase of
80. per cent over last year and 1913 per
cent over 1892. Failures for three
weeks were in amount 50, 507, 0S0,
against 81, 400, 3l9 last year, "a, 463, 251
in 1897 and $12, 069, 461 in 1896. Manu-
featuring were S1,313, 500, against
So, 095, 662 last year, and trading we're
81, 4s4, 7s9, against So, 444, 6S4 last year,
while other failures were S70S, 431,
against 81, s59, 972 last year."