Omaha daily bee., 1899-06-24
DUN'S REVIEW OF TRADE
Feature Of Week is the Better Showing Of
Railroad Earnings,
OUTLOOK FOR TRADE BALANCES IS GOOD
Iron again Appears the Absorbing
interest Factories Being Unable
to Fiji Ordcrs-Failurcs About
Half of Year Ago.

NEW YORK, June 23.-R. G. Dun q Co. 5
| Weekly Review of Trade will say tomor-
| row:
The outgo of more gold this week. 4..
| VVVOOO, so far reported makes it clear that
| Europe is in need. The French ministerial
crisis has been grave and prolonged. the
collapse OF German speculation in indus
! trlal stock threatens some trouble but per-
| maps the South American uncertainty
causes most disturbance. Whatever the
cause Europe needs money and cannot
| claim its own from the west this year, but
must borrow. Exchange and trade balances
| snow that this country is not called upon
! to pay, but the money is worth more to
| lenders abroad than it is here. Home
hhances are most satisfactory. Revenue
| falls behind expenditures for the fiscal year
less than 500, 900, 900, and but for $3.50 600 =
| 600 war expenses, the revenue exclusive of
that from the war taxes exceeds ordinary
! expenses.
| Trade balances, in spite of exports from
New York, 10 per cent less than last years,
and imports 20 per cent greater, still prom
| Use large excess OF exports for June. Nor
| is there any substance in the idea that large
| foreign sales of securities are moving gold.
The best evidence attainable shows that in
January and February about IS, ,250, 900 worth
of securities came TO this side and since
February, not more than S4,000.O00 in ex-
cess OF shipments. In character, transac-
| tions have been of the trading and not Of
the investment sort Stocks here have weak
ened, but almost exclusively in the indus
trials, which foreigners do not touch, these
declining S2.0S per share on the average
this week, while railroad stocks have aver
aged decline of only 80 cents per share.
Earnings for the first half of June are bet
ter than for any previous month this year,
10 per cent larger than last year, and lib
per cent larger than IN 1892 the granger
roads gaining most largely over last year
! in spite of the reduced movement of grain.
In the great staples there is a turn for
The better, Exports of wheat, flour included,
for the week, have been 3,6i3672 bushels,
against 3,S00660 last year, and in three
weeks, 6,JOi ,262, against ] 19S last year.
Corn exports also continue large, 2627, $50
bushels, against 2,514,723 last year. sharp
fall in cotton also encourages exports. These
are facts which preceded orders for god
exports this week, and do not result from
them, but show the prospect of a larger
outgo of merchandise in coming months.
Wheat receipts at the west, 5000 ,6SS
bushels for the last three weeks. against
3,463, no last year, and 4,540549 bushels in
the same week in 1897, show an eXtraor-
dinary movement from the farms for the
season, indicating no suspicion there of
shortage. The fall of 2 cents in wheat and
in cotton from 6.31 TO 6.12 cents, indicates
/ that speculation. based on the hone Of short
crop. is decreasing.
| Textiles are much behind in prices. though
woolens are steadily rising and are 5 PER
cent higher than at their lowest IN March.
| The goods are in much stronger demand
and wool has advanced from 1901 to 1876
| cents for domestic, taking the average of
| 100 quotations by. Coates brothers, though
| the buying is largely speculative. In cot
| ton goods the advance has been small, and,
| though business is excellent, the demand
| fairly matches the supply.
The great gain in volume of business
! might seem of questionable safety, were
! it not greater in iron production. resulting
! from an actual excess of demand over sup
ply and not from speculation. Bars are
! stronger by So per ton at the east, though
! iron is 81 per ton easier at Pittsburg, but
a difference of S. per ton in favor of steel
makes the demand for iron larger 1t is
interesting that 10O00-ton order for plates
for two American liners to be built by the
! Cramps, has gone to Chicago eastern works
! being too full Orders for finished products
| show no decrease in quantity and for most
| lines, as for rails, are quite often refused,
! speedy deliveries being impossible.
! Failures for the week have been 17S in
the United States, against 2S5 last year, and
eighteen in Canada, against eleven last year.