Evening journal., 1899-07-17
CONDITION OF TRADE.


character SO Aare, indeed, are the os-
turbing and unsettling features as to ne
cessitate considerable search to locate
them. Additional statistics Of past
trade movements received are certainly
OF an encouraging nature, foremost
among these being exceptionally good
railroad earning returns for June and
the first half Of the year, and ascor-
taincd totals of an enormous export
trade, practically equal TO the phenome-
nal business OF the preceding fiscal
year. Among current news features
might be mentioned the quite favor
able July crop report Of the Agricul-
tural Department, which, while con-
frming earlier advices of a more mod
crate yield of Winter wheat, and there
fore OF a smaller aggregate crop than
that gathered last year, admitted, how
ever. to have been largely underesti-
mated point to a large acreage in corn
and conditions. which, If maintained,
would easily result in crop in excess
of 2,00O,000.00O bushels. Late unfayor-
able reports from Russia point to a still
more pronounced diminution OF oropl
yields in that country this year Uli-
cial French crop estimates also have
been Whitfield down, and the outlook
seems to favor the probability that 1u
rope viii buy nearly as much wheat in
America as il did in the last fiscal
year when, it might be added, exports
exceeded the totals of the boom year
1S97-9S In Industrial lines the outlook
is a promising one. The settlement of
the coal mineRs' strike in Pennsylva-
MIA, and Of the tin plate workers dis
pute, bids fair to result in nearly 60 900
men resuming work after the Summer
shut down. A number Of wage increases
are also among the weeks develop
ments. The iron blast furnace report
for July ] points to an unprecedented
current weekly production. but avail
able stocas Of pig iron are down to
less than one weeks supply. From
several centres Of industrial activity
come reports OF scarcity Of labor, MILL
tating against even more pronounced
activity. Iron and steel. while reflect
ing the Summer quietness to some ex
tent in the East are quite active in
demand at the West and some heavy
sales are reported from Chicago with
further price advances in structural
material Bessemer pig Is now Slightly
more than double what 1t was one year
ago. Reports are current that final ar
rangements for booking large ouan-
tity Of foreign business have been
closed. The price situation is natural.
iy a strong one, wheat and coffee alone
OF all the prominent staples being low.
er on the week. and the former only
fractionally so, owing to large recent.
at the West and 70 the check to ex.
port demand caused by reaction from
the price reached some time ago. All o
the cereals are higher, as are also porl
and dairy products. Wheat includjn,
Hour, shipments for the week aggreeat,
S,26S,Sl5 bushels. against .75S. .972 bush
els, against s 5.233, ,52O bushels during tn.
corresponding week Of 1898. .522 oe
bushels in 1897, 2963 ,s4s bushels Il
1886 and 1,652Ss2 bushels in 1896
Since July ! this season the export
Of wheat aggregate 7.Ol9.7S7 bushel.
against 5,6S9 46s bushels last year an
4o24,6sS bushels in 1928. Corn es
ports for the week aggregate 4.55S 7g
bushels. against i,0g7144 bushels Ia.
week. 2,S22,SsS bushels in this week
year ago, 2,72s.510 bushels in 1897. 1
1l0,SIl bushels in 1898 and SS5.5l2 busl
els ia 1885 Since July 1 this seaso
corn exports aggregate S,65O.sS8 busl
els, against 5.2ss.520 bushels during Il
same period year ago, and 5.456 2.
bushels in lSs7as"
Dun's Review has this to say: "B
cause every prospect pleases, it is II
right time TO watch most closely {,
signs Of trouble. But it is not easy
find them when the volume Of busine
20 Nest RNi ANAN- it+ rtl Alldn last y "a
and 75.5 larger than in 1892. the be
Of all years except the last. or Wit
failures continue the smallest ev
known, or when the exports Of stapl
begin to improve materially. or wh
railroad business IS by far the best av
known, or when New York bankers a
pear in International operations, d
tening to Russian inquiry and und,
taking Mexican loan. Even the
dustrial disputes incident to the seas
cause less trouble than usual, the Ian
est Of them having been settled Thu
day by the Tin Plate Company. T
Bank OF England finds it difficult
borrow more from this side. and frar
" raises its rate while this count
begins to ship fresh crops. FOR whi
Europe will run into debt. Forei