The Saint Paul globe., 1899-07-01
OUTLOOK is BRIGHT
BRADSTREET~s REVIEW OF
TRADE FOR THE WEEK IS OF
FAVORABLE TENOR
BANNER FIRST HALF OF YEAR

Six Month of 1899 Expected to
Eclipse All Others I'm Trade Done
and Advantages Gained = Large
Falling Off i'm Business Failures
and Decreased Amount of Lfabil-
ities-Iron Outlook Cheering.
NEW YORK, June 3O.-Bradstreet's to-
morrow will say:
Though seasonably quieter in many
lines the strength of the general business
situation remains apparently unabated,
and the half-year closes with the COM
mercial and financial community con-
tempating very satisfactory returns in
the recent past, and manifest alone
cheerful confidence regarding the out
look for the last half of 1899.
In volume of business done, the first
half of 1899 will certainly rank. higher
than the best hitherto experienced, and
the rise in prices, which was such a fea
ture of the present spring, has done much
to reconcile traders to the remarkably
small margins of profit, which modern
business operations tend toward making
permanent. Touching this matter, it
might be added that staple prices today
are, in a majority of instances, well
above the quotations ruling for some
years past, the general level, In fact, be-
ing the highest since early in 1898. In
some instances, of course, notably iron
and steel, recent advances have brought
the level of prices well above anything
reached since 1892. There is to be re-
marked that much of. the business done
this spring was at old levels, the most
sanguine observers In this line having
failed to accurately gauge the real pro-
portions of the late advances. That the
transportation interests have shared to
a large degree in the business resulting
from several years of large crops and
large demand, is proved by the current
dividends the best probably paid so far
this year, and showing a progressive
gain over all records for the six months,
Notwithstanding the steadily lowering
rates of transportation.
There is little in the immediate outlook
that can be construed as unfavorable.
The iron trade having finished the most
eVentful half year in its history and most
OF the contracts secured at the old low
prices, face the balance or the year with
good prospects, and contracts secured at
prices foreShadowing good profits, pro-
Vfding adequate supplies of raw and
manufactured articles can be secured. 1t
is not reasonable to look for some check
In fact, to business in the metal consum-
ing industries owing to the scarcity of
these materials. One of the latest in
stances of this cited is the serious delay
reported to ship building industry, owing
to the scarcity of steel plates.
Wheat receipts at the West in four
weeks have been q, ,e91, ,5S6 bushels, against
4,1l1,C2 last year, and Western receipts
in June have ranged between 5,794, ,52S
bushels in 1894, and 1851, ,27S in 1885,
Beyond question the farmers and the
spectators and elevator men in farming
regions believe that so cents here is as
MUCK as the old wheat will fe3ch though
exports have been for four weeks SS94
S3S bushels from Atlantic ports against
15.0l2,6S1 last year, and 2,445, 749 from Pa
cilic coast ports, against 1923, ,709 last
year. 1t is not surprising that with such
receipts the price has dropped 11h cents.
and corn also fell 2 cents, with exports
in four weeks of Il, 1874, ,625 bushels, against
1865, 02S last year.
The cotton market is also weak heavy
receipts and good prospects, have de-
clined a sixteenth.
Failures for the week have been 1S1 in
the United States, against 254 last year.
and Y In Canada, against rs last year