The age-herald., 1899-07-08

THE AGE-HERALD, SAT year is very hard on predictions. Corn ex- rcrts gre twice what they were last year. z3lo,i0S bushels against 255 last year foF the week and the price declined a quarter.
 The cotton movement still indicates a greater surplus than was expected, but dis astrous floods in Texas caused sixteenth advance, which dispatches from that quar- ter don't seem to warrant. The loss, much or little, would not materially affect a years business.
 Scarcity and high prices of iron and it's products can no longer be reckoned evil dence of good times. In the shenango val ley six furnaces have been stopped by a strike for 20 per cent. more wages, and miner strikes are reported at various iron works, the tin plate strike being yet un- settled. New orders reported continue large, being evidently shipped week after week, and are still inadequate to the tre- mendous rush. Predictions of great scar city of pig iron have lifted the price still further to SIP per cent of the average of January, 1887. but several more furnaces are going into operation, and the Illinois DNNoA OC'AApeAAAy the largest capacity.
 Textile manufacturers are doing well, and in woolen goods prices tend upward, with a considerably better demand, but sales of 9,S2S, ,7G0 pounds at the three chief markets were mainly to dealers, and the advance in price of 1857 cents per pound-the average for 100 quotations by Coates Bros, against 1876 cents June b, and 1s.0l cents on May 15-don't invite heavy transactions. Cotton goods show no pressure to sell, but are queter, and the increased manufacture at the south is felt each year more closely by northern mills The volume of business for the first week of July has been 366 per cent. greater than last year, and 44.9 per cent greater than in 1892
 Failures for the week have been 119 in the United States, against 229 last year, and 20 in Canada, against r last year.
 FINANCIAL REVIEW
 New York, July 7-Bradstreet's financial review tomorrow will say:
 The formal announcement on last Friday week that the lease of the Boston and AL bany had been ratified by the New York Central directors gave a further decided impetus to speculation on last Saturday. The market accordingly closed decidedly strong for the three days holiday and to- tally disregarded both the advance of call loan rates to 5Q6 per cent, and the unex- pectedly heavy reduction of bank reserve shown by the clearing house averages for the week. The speculative world is in- clined to regard these two last mentioned circumstances as well as the maintenance of relatively high call loan rates since the holiday as a temporary effect of the enor- nous July interest and dividend disburse- ments. The fact that on Saturday the Van derbilts, Changers and standard railroad shares rose sharply and attracted nearly all the attention showed the direction which the movement was inclined to take. It may also be specially mentioned that Pennsyl- Vania shares were feature, rising to 1377s which shows the importance the street at tached to the alleged presence of its presi- dent, MT. Cassatt, at the ratification of the Central-Albany lease. There have been ru- mors that a compact has been made by which the Pennsylvania is to acquire con- trol of the New York, New Haven and Hartford railroad. That, however, is deem- ed impracticable and undesirable, and the only valid deduction that can be drawn from the circumstances in question Is that harmony prevails in the trunk line stua- tion In fact a newspaper story published on Friday that the holding members of the Vanderbilt party have acquired in the stock of the Pennsylvania had led to a formal alliance between the two companies, fell rather fiat, even before it was officially denied.
 London prices for Americans advanced on Monday and Tuesday when the New York and other American markets were closed. When the market reopened on Wednesday it had the bullsh influence to support it as well as the general expecta- tion that large part of the extraordinary July disbursements, amounting to $12OOO,- 900 to $l5oOoO,OOO would find their way into Wall street for investment. The manipu- lation was mainly directed to advancing prices in various parts of the list. Pools and prominent houses were active in con- nection with their specialties while the bond market presented a decidedly firm appear ance. There, however, appeared to be a disposition to take profits in the Wander bilts and granger shares, which caused recessions from the early prices for these securities and 0 number of specialties and low priced shares came to the front. The industrials, too, once more became more active and exhibited the influence of spec ulative support and buying. These ten- dencies exhibited themselves more signif- cantly in Thursdays trading, the tone of the market on that day being strong in the main, but with irregularity in the different parts ol the list and more of disposition to pay attention to the frmness of call money and the failure of rates to relax immediately. On Friday the tone was gen. erally firm and was not affected by official denials of the exaggerated reports about Vanderbilt-Pennsylvani alliance. The junior Vanderbilt stocks were strong fea-