Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-06-15
THE BUSINESS SITUATION.
radstreet's, in its issue of Saturday

Bradstreet's, in its issue Of Saturday
says:
Iron and steel display all Of their
old and some new strength in the
urgent demand for the balance of the
oar, and the usual summer shSutdown
seems likely to be honored more in
the breach than in the observance in
this trade. The outlook in the trade
as regards next seasons labor scale is
still unsettled. Union operatives are
asking material advances, which are,
to some extent. likely to still further
enhance values, although recent ad-
vances in product may discount this,
more particularly as raw materials
have not advanced in nearly as great
proportion. The usual early spring
predictions Of an immense reduction
in cotton acreage have failed of
realization, and current estimates
favor a falling off Of 3 TO per cent in
the cotton belt as whole. This,
added to good trade at home and
abroad, and advices that the crop has
not as yet made up all the time lost by
backward season, has strengthened
values of the raw material slightly.
The prospects favor very large
acreage in corn. Active demand for
refined sugar has apparently induced
some relaxation in the war among re-
finers, and raw sugars share in the
advance this week.
wool is firm and even higher in
some grades at leading markets, with
fair business doing. Lumber retains
all its strength, rejecting continued
activity in consumptive lines. In
transportation lines, too, business is
exceptionally good so far at least as
gross receipts are concerned. Business
failures for the week number 179. as
against 129 last week, but compared
with 221 in this week year ago, 256
in 1897, 234 in 1896 and 232 in 1895.
Bank clearings are, of course, in excess
of last weeks small total, due to holt
days, aggregating 1,S16, 125, $50, or 80
per cent larger than last week, and are
81 per cent heavier than in this week
a year ago, 80 per cent larger than in
1897, nearly double those of 1896 and So
per cent in excess Of 1892 Wheat, in
Guiding -four. shipments for the week
aggregate 3,15s,O47 bushels, against
1886, 065 bushels last week.
r. g. Dun & Co. IS Review for the
current week says: 1.-THE past week
has brought a rise in prices not
equaled in any other week of many
years. Iron products have advanced
8. so per cent in one week and pig iron
49, per cent, following advances of s
per cent in pig and per cent in
products during May. Cotton has adj
vanced | per cent and cotton goods 1.S
per cent during the week, with wooden
goods per cent and boots and shoes i
per cent.
while there is better demand for
wooden goods, SO that prices of some
have advanced, it is not yet possible
to distinguish heavy speculative
operations in wool at Boston from
efforts of mills to buy. The prices
current in all wool growing sections
are so high as to prevent sales in
Eastern markets to consumers, and
traders who believe that mills will
presently be forced to pay higher
prices are taking the same risk they
did in the winter of 1897-9S, not
realizing the size of stocks held.
Foreign trade indicates, as before, an
excess of exports much smaller than
last year. The course of foreign ex-
change is governed not by trade &C.
counts, but by needs of European
bankers, who are practically helping
each other to borrow from America
gold which they must have and we can
we'll spare. Whether $4,000, 600 or
$50, 600, 900 go abroad, it is not to pay
debts, but to place money where it
will for the time earn more than it
can here