The record-union., 1899-08-05
All the Conditions Existing During
the Past Week !
Indicate the Maintenance Of Health Ia
Business and Industrial Circles.
All Glasses Of Iron and Steel Are
Firmly Held, With Prices Tend
ing Upward-The Same May be
Said of Wool While Almost
All Lines Of Manufactured
Goods Show Advances.

NEW YORK, Aug. 4.-"Brad-
streets tomorrow will say:
All conditions indicate the main
tenance of general trade and industry
in an Unprecedented midsummer vol
ume. Especially indicative of this arc
the continued very heavy bank clear
ings returns, largely increased railroad
earnings, rejecting a traffic in grain
and merchandise generally far in ex-
cess of a year ago; reports of activity
in numerous lines of manufacturing in
dustry, notably in all branches of iron
and steel and kindred lines, wooden
goods, boots and shoes and cotton
goods. and advices from leading mar
kets of a satisfactory opening of the
regular fall demand with heavy ship
ments of goods on orders.
With the exception of good products,
the price situation is generally one of
maintained strength, advances being
most numerous in the line of manu-
featured goods or in raw materials for
manufacturing industry. Cereals are
all lower on the week, rejecting the
generally favorable crop outlook, and
also some Indifference as regards for
eign buying of wheat, though the ex-
port demand for corn has been ap-
parently stimulated by recent price re-
actions.
All classes of iron and steel are
either firmly held or tending upward,
notable in this respect being all grades
of pig-iron and steel rails, structural
nd
metals are rather quieter, and tin shows
some reaction from the high price
reached last week Wool is still NOV
ing upward in sympathy with i'm
proved demand for the manufactured
article, but buying is more closely con-
fined to manufacturers, speculative
dealing being apparently less notice
able. Cotton is steady, pending fur
Their developments in the crop situa-
ton. The anthracite coal trade ap-
pears to be well under control and
advances are reported maintained.
Western and Northwestern trade ad
vices tell of expanding fall tradz. Ship
ments on fall account from .Minneap-
oils tax the facilities of the jobbing
houses. Lumber is firm and scarce at
that center and adviceS as to crop
conditions point to stories of damage
by storms and hot winds being in some
respects exaggerated. Increased de-
mand is noted at Chicago, and bust
ness with jobbers is reported never
better at this season of the year. The
price of bar and pig-iron is up, as are
all steel plates.
July bank clearings are usually of
ir,rr oc
they they do midsummer quietness in
speculation and business. 1t is no sur
prise. therefore, to find that the ag-
gregate of bank clearings for that
month is smaller than in any preced-
ing month this year with the excep-
ton of February. When comparisons
are made with preceding months Of
July, however, it is found that the vol
ume of bank clearings exceeds that of
any corresponding month. An espe-
cially favorable showing is made when
comparison is instituted with July,
1898, a month of large business and
of unprecedented midsummer clearings
In every instance gains by groups of
cities over 1898 prove to be heavier
than were shown in June. and when
the additional fact is remembered that
only two cities of the United States
showed decreases in July from July a
year ago, some idea may be had of the
immense expansion in current clear
ings which has occurred.
The total bank clearings at seventy
six cities for the month aggregate
S7,0S1 .026,692, a decrease of 5 per cent
from the June total and of 1871 per
cent. from the record total of March
but a gain of AIS per cent. over July
a year ago; of All per cent. over July,
1897; of 102 per cent. over the CORE
spending month of 1894, and of 3d..
per cent. over July. 1892. Another in
teresting feature brought out is thai
the decrease in clearings in the July
total this year from that of June Is not
as large as the fallings off in July last
wear. The increase of 41.S per cent. in
the month just closed compares with
a gain of 1862 per cent. in June and OF
54.6 per cent. in March, the month oil
largest clearings on record. Every
yroup of cities showed a heavier gaif
in July than in June, the Middle States
proup leading with an increase of At.
per cent. closely followed by gain OF
44t; per cent. in New England. Next
important in the matter of increase
shown is the far Western group, WITH
a gain of 3S5 per cent. Every group
however, but one, the Southwestern
shows an increase in excess OF ~ pei
cent, and in this group 1t lacks only
a fraction of / per cent of that gam
AS intimated above, the practica
unanimity of the cities of the country
in showing gains over July a yeai
ago is a special feature of the presen'
exhibit. Only two cities-Portlano
Me-, and Lowell, Mass.-show de-
creases, and even in these the losses
are small. Among the large cities
showing gains. Minneapolis, in the
Northwestern group, is prominent WITH
an increase of 50 per cent New York
and Boston also show large gains, the
increase in the former being 4S.4 pei
cent. and in the latter 4S.6 per cent
Among the other important increases
might be mentioned those at Sar
Francisco, of 40 per cent; Denver. y
per cent, and Chicago. 25 per cent
For the seven months ending with
IuIv the total clearances at seventy
- .t+soa a cprepate S55 1 ~ 4S5 212-5