The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-07-01
TIMES BETTER THAN EV11.
REMARKABLE HALF-YElR IN TEE
BUSINESS WORLD.

Failures Fewer and Losses Smaller Than
for Seventeen YearG-Prosperous Con-
dition of the Iron and Wool Trades and
of the Rnilronds-What tho Banks SNOW
The halt-y year Just closed has been record
breaker in business. The boom that came
after the war 10 here still. One OF the inter-
esting features OF these good times Is the small
number OF business failures The failures this
year are fewer than they havo been for seven
teen years past. and the liabilities are smaller
than in any year since 1881. The industrial
situation has never been better.
There Is little in the immediate outlook
that can be construed as unfavorable.' says
Brddstreets. THE iron trade. having hnishod
the most eventtul half-year in its history. and
most Of its contracts secured ut the old low
prices. faces a very good outlook for the bal
ance of tho year at prices which guarantee
large profits. providing adequate supplies OF
raw and partly manufactured materials can
be secured 1t is not unreasonable to look
for some check. in fact. to business In the
metal consuming industries. owing to the
scarcity OF these materials. One OF the latest
instances OF this cited is the serious delay
reported in the shipbuilding industry owing
to the scarcity of steel plates. The labor sit
uatiOn has been one OF the most satisfactory
features Of the half-ycar's business. voluntary
advances having raised the compensation OF
thousands OF operatives and labor troubles
being CONSPICUOUS by their absence till toward
the close OF the period under review. when
fai lures to agree upon wages and hours IN the
Colorado smelling industry and in tin plate
manufacturing rendered "a large number OF
WOOL is going up. Bradstreers says that the
increased cost OF the raw material Is forcing
change for tho better In the wooen goods
market. with indications OF a, general
hEhsSS Tanfh OF se Sa%ss d 5Ss T Tse
price Of wool during the recent depression
worked down to the basis Of Ss to 40
but the strength in the markets Of the world
for fine woods has advanced this cost s. to to
wool Unfortunately manufacturers had no
confidence In the price OF wool ut the low
s0v the
really forced rhy tho. demand from abroad for
action OF SPECTATORS. who quickly sized I'D the
situation and purchased literally.
not p!9"s Ss iRS
through the principal clearing houses have
been for, tho week, 43;3 per cent. larger
iissa'2. For the the four weeks of June daily ex.
changes have been 374 per cent larger EFT than n
p r2'a; 10 Tont at Which tfansactiShs
IN the best Of all past years. exclusive
be 1 reeefoned only about twoethrds Of the
current transactions this year. :, Foreign ex-
ports from New lork. tn3ugn snghty 'arger
smaller for the month. contrast with imports
1914 per cent larger for the month. and yet IN
dictate exports exceeding imports by $2O.6OO.-
600 in June"
Railroad earnings reflect constant increase
in traffic. On leading systems in the Z nited
States gross earnings for three weeks Of
June are 1875 Ter cent. greater than last year
and 1910 per cent. sgreater than In 1892. On
nearly all classes of roads earnings are larger;
Pacific roads report the largest increase. Such
important systems as the Chicago. Milwaukee
Nashville. the southern road the Missouri Pa.
ciflc. Grand Trunk. Wabash and Big Four
report much larger earnings than last year.