Daily press. [volume] (Newport News, Va.) 1896-current, 1899-07-22
CONTINUED PROSPERITY.
Failures Smallest Ever Known, Railroad
Earnings the Largest.

tl'y Iclegraph)
NEW YORK. July 2l.--R. G. Dun &
Co. in their weekly review of trade
will say:
Optimism is always popular. but
more than half the time dangerous.
Seven years Of halling and reaction
historically follow three OF progress.
But the three Of progress have not yet
passed. and the most cautious search
discloscs no sign Of hating. Foreign
anXieties have been real. but seem to
be passing. ana Europe has begun pay
ing literally for more food without eN-
pcciation that securities can be sent IN
settlement. The extensive labor strikes
have vanished. and the local strikes
d" not affect business. Fears of new
and powerful corporations lessen as it
Is found that they are controlled by the
same laws which govern the small COM
panies.
Above all, the general evidences IF
prosperity continue convincing. fail
ureS are the smallest ever known for
the season. railroad earnings the lnrS-
est. and solvent payments through
clearing houses in July have been is &
per cent. larger than last year and Go3
per CENT. larger than in 1892, the best
OF the previous years
OFFICI.a 81 FIGURES.
Official returns of the most wOndlr-
ful year in the nations commerce show
Il decrease of $S5.9O0. 900 in value Of the
great staples exported. largely owing
10 prices but an increase of about $50.
oUe.nGo in other exports, mostly manu-
features
Fear of deficient crops have heen bur
.ea under western receipts from farms
amounting to 13.SG1.046 bushels wheat
TOR the month thus far against 3.7773 1913
last year. and l5.29S,G55 bushels corn
agains; 6.6!2.315 last year Exports of
wheat. Atlantic and Pacific. nave been
1'o9l9' bushels during the month
thus far against 1899, $50 last wear.
Prices declne.a sharply with assurance
OF ample supplies wheat $ cents. ara
corn ,. Which is more significant in
view of the previous heavy cxports Of
both. Cotton also is going abroad
largely. though the price remains 6.l9
cents
Pig iron has not advanced rhis week
put mainly finished products steel rails
70 $50 at Pittsburg, billits to $;4, sheet
Ears to s33.a0. sheets to cents at Pitts
burg. and cut wire nails bosh SO per ton.
The American Tin Plate Company ser
tied with it's hands by granting 10 per
cent. more wages and raised the price
Of plates so cents per box. Still ,ie
mands do not abate
COAL AND METALS
COKE IS unchanged in price and likely
to break the record for production this
month Tin is lifted to 2S.9 cents by
Wild speculation in London, copper is
flrm at 1s12. ard lead is said to be sold
by the smelling company below 400
cents, the quoted price
Wool is still advancing, Coates Bros
circular CT the 18th showing rise Of
2I9 cents since May 10th. speculation
BENG particularly active in fine wool
because it is rising abroad, though IN
less demand for manufacture here than
c etg and medium grades. At the
three principal markets 1886. 100
pounds have been sold in three weeks
against S4,124,70O in the same weeks Of
1897 before the present tariff was en-
acted
Manufacturers do not appear to he
buying largely, though the demand for
gooss is better. and has caused an ad
vance in Clay and several other kinds.
strong.
Leather is in good demand and slight
~ higher and hides at Chicago rose
slightly with limited receipts
faiIures for the week have been 145
IN 'he United States against POI last
year and % in Canada against II last
gear.