The record-union., 1899-08-05

total, it is hardly necessary to remark,
never before eQual1ed for that period,
and 45.7 per cent. larger than the ag-
gregate for 1893.
Canadian clearances do not make as
favorable comparison as they have for
some time past, the first decrease, in
fact, reported in any month for long
time past being noted in July. The to-
tai clearings at six cities aggregate
$123, 296, 419, fractional decrease from
those of June and falling off Of a
fraction of l per cent. likewise from
the July total last year. 1t should be
remembered, however, that Canadian
clearings at this time a year ago were
showing much larger proportionate
gains than were noted in the United
States. For the seven months period
the showing made in the Dominion is
favorable one, the aggregate of clear.
ings at six cities being 1914, 1871 ,O24, a
gain of 9.5 per cent. over 1898, that
year in turn showing an increase of
26.5 per cent. over 1897.
Business failures numbered for the
week 1856 in the United States, against
154 last week, 100 in this week a year
ago and PA in 1897. In Canada for
this week the failures were 2G, as
against IS last week and % in this
week a year ago.
Wheat Gncluding fiour shipments
for the week aggregate ALL GA BUSH
els, against 1886, 432 bushels last
week, 4,111,132 bushels in the CORE
spending week of 1898 and 3,3OS,417
bushels in 1897. Since July this sea-
ho of fa
1S,5OS,9O6 bushels, against 14,426, ID
bushels last year and II ,655,O24 bush
els in 1867
NEW YORK, Aug. Ar. G.~Dun 6,
Co. in their Weekly Review Of Trade"
will say tomorrow:
July failures have been smaller than
in any month of which there is record.
excepting May, and trading failures
smaller than in any other month. Sur
prising contrasts are shown by COM
parison of small with large failures
in different years, and in no class of
business, without some large failures
not attributable to present influences,
does the aggregate equal the average
of the past six years. London again
recognizes the financial power of this
country. The Bank of England virtu-
ally admits that it cannot draw from
New York the gold it needs; exchange
moves to the importing point; over
So, 600 900 starts from Sydney to San
Francisco; London's net buying of
stocks has been 10000 shares, and bills
against produce to be shipped are very
heavy.
This describes a revolution in
finances, not unlike that in industries.
Europe searching for wool here at 30
cents secured and for pig-iron at $50
ton was a vast demand for both
materials has fallen upon the CONNER
cial world which this country alone
appears able to meet for it's own needs.
Wool shipments from Australia have
been surprisingly little below those of
last year, but Europe talks of a wool
famine, while this country has on hand
a years consumption or more, besides
this years clip, and prices are not yet
as high as they were in February of
last year. when stocks were many mill
ion pounds larger.
Wheat weakens, yielding 1 cent, With
the astonishing receipts at the West,
4, 734, 1863 bushels for the week. against
3.199.643 bushels last year and 3D.
.59S.1S9 bushels since June. against
10,50SS76 bushels last year Atlantic
exports for the week, 3,767,7S7 bushels
flour includedD, against 3.026, 131
bushels last year. and II. III, $40 BUSH
els since June, against 1884, 951 BUSH
els last year, continue to support hopes
of great foreign demand, with Pa
cific exports for the week 355042 bush
els, against 614,916 last year Not less
potent in that regard is the shipment
of 4,003, 497 bushels of corn for the
week. against 1734,347 bushels last
year, and 15.6SS010 bushels since June,
against S,5O2,31O bushels last year
Failures for the week have been 1872
in the United States, against 1876 last
year, and % in Canada, against q last
year.
NEW YORK, Aug. 4-The Times"
says:
In reference to the sharp decline In
Scotch and Middlesborough pigiron
warrants on the Glasgow Exchange
reported by cable, it was explained
that it had little if any bearing on
the legitimate iron market in Great
Britain and the continent.
1t was well known early in July that
practically all warrants were in two
or three hands, and the rapid rise near
the end of July told the story of the
squeeze of the Shorts
The total stocks of pig-iron in Great
Britain are about 100000 tons, and are
practically unchanged since Janu-
airy list.
They are at the lowest point for
many years. When Scotch pig-iron was
worth S. per ton, more than it is to-
day. stocks in the Kingdom usually ran
10000 tons.
Trade in both Germany and Eng
land is active and consumption run
ming at the highest point known.
Coke has advanced 10 shillings per
ton in Great Britain, adding So per ton
to the cost of iron. Labor and ores
have advanced slightly.
THE CRESCENT CITY.