The times., 1899-06-17

sugar was Strong uuTlHB lne morning
hours, but closed the day with slight
net loss.
New York. June 16-Bradstreets to-
morrow will say:
Weather and crop conditions figure to
a greater extent than usual this week. not
only in the domain of actual distribution.
but in their effect upon values of staples,
particularly agricultural products, which
are higher Noteworthy in this respect is
wheat, which has advanced on Government
and other reports, pointing according to
some, to $40, 900 bushels, and by others
estimated as low as 5OO.OoO,OOO bushels.
The possibility is also presented OF spring
wheat-for the first time on record-equal-
ing, if not exceeding, in yield that of the
winter-sown grain. Tie area in cora is
very large one, bgt. in the absence OF of
fetal estimates. the tendency is to find
an offset in the small visible supply and
irregular conditions of the growing crops
in some States. Hog products have shared
the strength OF cereals, but cotton re-
mains unchanged. Notwithstanding reports
OF decreased acreage and very firm con-
ditions in the manufactured goods trade,
rather rejecting, dne fact. reports of i'm
proved crop, conditions at the South as the
result of the breaking of the dry spell in
the Gulf States. The crop is however.
still backward. Adyiccs as to distributive
trade are in the main very favorable. Hot
weather has stimulated retail business, and
orders for fall delivery are reported in
larger volume and earlier than for years
past. At some centres, in fact, less than
the usual effect is looked for from SEA
sonable midsummer influence. This is
however. illustrated in the iron and steel
trade, which displays unexampled activity
as regards summer production and con-
sumption, limited only by the obtaining o.
supplies. Advances all along the line are
again a feature in this trade AT the East
distribution is of a full summer volume
although rejecting some effects of the CUR
tent hot spell Wool is in fair demand at
Eastern markets and the finer grades par
ticularly are held firm Lightweight
clothing is reported sold well up. Chicago
reports steel billets and plates as doubling
in value in eight months, and the entire
output OF steel cotton ties is already old
In the Northwest storms have interfered
with distribution. and wheat receipts are
reported checked thereby. New Orleans
reports that cotton has made good prog
ress, and that rains have saved the corn
crop. Local real estate and securities have
been helped by the probability OF a new
drainage and sewerage system being in
stalled Old iron furnaces are going INTO
crease in wages is reflected in gooi retail
trade. Texas crops have been improved,
and the same is true OF Arkansas. In
proved weather conditions on the Ia ifc
Coast are reflected in better trade. Bust
ness failures number only 150, against 17S
last week, 207 in this week a year ago, 226
in 1897. 265 in 1896 and 23l in 1895"
New York, June 15.-Dun's review to-
morrow Will say 1T is one of the fire.
quent paradOXes OF business that the one
thing which now makes prices rise is the
only thing that clouds the future They
rise in iron and wheat because scarcity is
feared, but the scarcity. if prolonged and
real. would much impair prosperity. In
wheat il does not seem to be real, nor in
iron lasting, and meanwhile other elements
of prosperity continue potent. II is a
great thing in money markets that exports
of gold have caused no apprehension, be-
cause recognized as mere borrowings by
foreign bankers. The May return OF for
eign commerce show exports S22 900 OOO
larger than imports, in spite of a decrease
of 30 cents in the export price OF wheat,
and large increase in imports. In eleven
months the excess of merchandise exports
has been $i95 600 600 and bankers estimate
that $500 900 worth OF securities rave
been returned from Europe, with so few
in recent months that the amount remain
ing TO be disiodged is probably small.
The scarcity Of iron is real. in spite
of the greatest production ever known in
this or any other country. 25GO62 tons.
weekly June !. against 250,O95 May l.
Stocks We're reduced ,092 tons in May,
indicating a consumption of 1,l9O, S66 tons,
against 100000 tons per month last year,
the greatest ever known. Consuming de-
mand does not seem 10 diminish and ap-
pears greater because 1t falls upon works
crowded for months ahead with contracts
at lower prices.
"Woolens gained little further advance
in clay worsteds. andl indigo blues. with
generally strong demand ard works well
engaged ahead. Cotton goods have been
fully sustained without advance in price
by good demand. The cotton market has
not changed, doubts about the coming yield
being held in check by certainty OF large
stocks on hand. Shipments of boots and
shoes from Boston were over two million
pairs for the week. and for two weeks
lS6, ,093 cases. exceeded the same week only
in 1895 and slightly in 1894. Il is grow
ing clear that manufacturers are accept
ing large contracts ahead the talk of fur
ther advance in prices doubtless helping
them.
Wheat reports by tne Government seem
10 mean just what anybody wants them 10
mean, but the produce exchange interpre-
tation of the June report, 56S 000 600 bush
els, mean no greater decrease in yield than
may be beneficial both to growers and con
sumers. The price has risen three cents
but much prudence is shown. for Western
receipts of 10 200, lS9 bushels in two weeks
against 2.6S4.521 last year discredit short
crop reports, and foreign exports i,5S2. .313
bushels. flour included against S,G55, 6Si
last year, do not indicate great needs