The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-22
FINANCIAL AND COMMERCIAL.

FRIDAY. July n.
with tho end Of the week there comes to
hand another batch Of extraordinary mldsum-
mer trade reports. Activity in general busl-
ness is indicated by an increase Of 4S8 cent.
in bank clearances during the first three
weeks OF July ms compared with the CORE
spending period Of last year. and an Increase
OF over ~ y cent. ms compared with 1892
Railway gross traf1c receipts far this
month have been rs y cent. larger than last
year and ~ y cent. larger than seven years ago.
The advance in the price OF iron aud its prod
ucts is wei! maintained. though the output IL
now steadily increasing owing to the start
ing up OF furnaces and mills that have
long been idle At last the woollen trade
f. beg inning to show some Improvement. both
raw material and manufactured goods ad-
va,cing in price There Is also a revival OF
activity in the boot and shoe leather industry.
Cotton IL being moved abroad more freely
than for some time past and the market for
cotton goods is described as strong. The grain
mark cts have been depressed by the enormous
receipts OF last years wheat and corn and by
moro favorable crop prospects both in this
country and abroad, The receipts OF wheat
from producing sections this week have been
nearly four times rs large as during the cor
responding period OF last year and OF corn
more than twice as large. This relinquish-
\mcnt by farmers OF last years surplus shows
that they are satisfied with the outlook for the
yiNd this year.
Exports OF breadstuffs are increasing. sinoe
the beginning OF tho month the exports OF
wheat have been 10 .430. 900 bushels. against a
little less than 5000. 900 bushels last year. and
OF corn 12.317.oO0 bushels. against q little
more than 100000 bushels a year ago. II
10 becoming palmer every day that Europe 10
not likely to make part payment this year for
its purchases OF breadstuffs. cotton and other
commodities by selling It's holdings Of Amer
.ican securities. The foreign liquidation In
our securities appears to be over. Europe
still holds large quantities OF them. but
the business outlook and financial oon-
ditons here nre so satisfactory that
foreign investors are evidently loath to part
with their holdings. In consequence. as the
crop year progresses there will have to be a
settlement In cash for a part OF the supplies
absorbed by European countries. Both the
local and London money markets were easier
20 day and there was also decline In the
rates for sterling exchange. Those circum-
stances and the fact that no gold will be OK
ported tomorrow encouraged more cheerful
; speculative sentiment that was reflected In
higher prices for securlties. Tho public is
doubtless beginning to appreciate that good
deal has been accomplished this week toward
settlinG unwarranted abor disturbances. The
Lesson that professional aGitators have received
in his city and Brooklyn should last them and
their immediate following for some time to
come.
The trading In stocks was upon a somewhat
larger scale than yesterday. and the market
showed u slight broadening tendency. The
leaders In the upward movement were Brook
lyn Rapid Transit. Rock Island. Illinois Cen
trial. pittsburG. Cincinnati. Chicago and st.
Louis and Pacific Mail. The conspicuous M ON
lo-S Of the usually less active list were Ameri-
can Smelling issues. Colorado and Southern
first preferred. Iowa Central preferred. Mis-
souri,. Kansas and Texas preferred National
1nm and United states Rubber common
There was noteworthy increase in the volume
Of business done Nv commission houses It Is
to ho noted that wherever there was demand
for stocks. avon though in moderate quantities.
prices Responded At once owing to the slight
offerings or tho absence OF any supply at
figures near the market The closing was
strong.