The record-union., 1899-04-22
General BUSINESS Situation One Of
Quiet Strength,
While In the Industrial Lines Activity
Continues Unahated.
Nothing Has Occurred in Business
or Money Markets to Prevent a
Continuance Of the Heaviest
Trade Ever Transacted in This
Country, and at Good Profit.

NEW YORK, April 21.-Bradstreets
tomorrow will say:
| The general business situation is one
of quiet strength, while in industrial
! lines activity continues unabated The
universal testimony of damage to the
winter wheat crop has had surprisingly
| little effect on prices as yet, owing
partly to improved weather conditions
Strengthening the hopes of a larger
area in spring wheat, and also to good
| crop reports abroad and increased Wis
ible supplies, as compared with a year
ago, encouraging foreign buyers in their
neglect of American offerings
! An enlarged demand for this country's
manufactured products in some degree
counter balances the falling off in the
! value of agricultural exports notably
cereals and cotton, shown as COM
pared with year ago. For the month
of March drop of $1S,C00, 600 in ex-
ports of breadstuffs, cotton, provisions,
| live cattle and mineral oils has been
partly made up by a gain of nearly ten
millions in other products. leaving the
net deficiency as compared with a
year ago seven per cent. Imports re-
j fleet the increased purchasing power of
/ the country. the total for March. in
fact, being the largest since May, 1891.
For the nine months period, exports, as
q whole, are little less than double the
imports
| In iron and steel new business is Of
even smaller proportions, a nota BILE ex-
ception, however, being in the line, CT
wire goods and nails, on which prices
have been very generally applied Quo
tatlons Of pig iron, steel billets and
nearly all the cruder forms eare firmly
held, While for many finished produc s,
such as plates and bars, even higher
quotations are asked. Mills and fur
naces are reported crowded with BUSH
LESS on earlier orders, and the dispG-
sition of buyers to delay placing their
business for the latter part of the year
is reported as viewed with equanimity
The cotton goods situation is sill a
strong one though the current demand
from agents is light. Retail iistribu,
tion of staple products has been i'm.
proved by more favorable weather, thus
encouraging hopes of future good re-
orders from wholesale hands
Following the outburst of activity in
wool last week, business has rather, fall
len off, but values remain steady Con-
tlnued buying of high grades of for
/ elgn wool for export is reported, and
there is some talk of high grade Amer
lean wools being bought for shipment
to England.
Following an advance early in the
week, due to good foreign advicss and
smaller than expected crop movement,
cotton is quieter, but holds part Of the
advance.
The strength Of raw sugars is a not
able feature. Abroad quotations Of
beet sugar have been advanced. while
the Cuban yield is not expected to be
large, and Bradstreet's advices point to
not more than half an average crop BE-
ing grown in Louisiana. Raw sugar is
higher on the week, but refined lags be-
hind, though consumption is enormous
The demand for lumber at wholesale
continues good, and the Southern in
dustry seems to be sharing to the full
in the general prosperity Retailers,
however, report buyers slow to pay tie
| advanced quotations
Leather and hides are strong and
boots and shoes hold recent advances.
Wheat Qncluding fiour) shipments for
the week aggregate 1892, $50 bushels,
against 1883. 619 bushels last week. g.
232 1O5 in the corresponding week of
1898 1,654, ,66S in 1897, 1886 400 in
1896 and 2,431 ,634 in 1895. Since July
1st this season, the exports of wheat
aggregate 193, ,262, 17S bushels. against
191 ,5O3, 6S5 bushels last year.
Business failures show a notable fall
ing off from those Of last week. aggre-
eating 1877, against 243 in the preced-
ing week, 224 in this week a year ago,
2l6 in 1897, 24O in 1896 and 223 in
1895. Business failures in the Domin-
ion of Canada number 80, against %
last week, 10 in this week a year ago,
% in 1897, 3S in 1896 and 81 in 1895.
NEW YORK, April Dir. G. Dun &
Co.'S Weekly Review of Trade will
say Tomorrow:
Nothing appears in business or in
money markets to prevent continu-
i.ance of the heaviest trade ever trars-
acted, at good profits. The payment to
Spain is supposed to have caused some
rise in foreign exchange, which would
amount to nothing in any case, as ball
ances due from other countries more
than cover the payment, and advance
bills against the crop to come forward
in July and later will soon be offered
Loans on industrial securities are still
at higher rates than on railway stocks
but ON good commercial paper or rail-
road stocks money is in ample supply
and at low rates. Nor have stock oper-
ations caused any appearance of pres
sure. The financing of new corpora
tions has passed SO far with less trouble
than had been feared, though the com-
pleting Of some organizations is hin
| dered or has failed
The usual time for financial troubles
in the spring has passed, and the usual
alarm about crops has done it's work
and still industries are undisturbed
The one hindrance in stock speculation
is doubt about the crops, but better un-
official reports have supported infer
ences warranted by the heavy receipts
from the firms in the West and South.
Farmers do not send wheat or cotton
to market in large quantities, when
crops anywhere near them are exten-
| sively spoiled
Wheat receipts have been 7,511 ,343
bushels, against 5,206,643 last year in
three weeks of April, and the improve
ment since April 1st is worthy of no.
tice. Exports have fallen off amount
ing from both coasts to only 6,77477
bushels, flour included, in three weeks,
against 1O,919, ,122 last year, and the
price closes but half a cent higher than
| last week.
| Nothing but industrial depression is
| left to excite apprehension, but the in
dustries are meeting something very
unlike depression.
| Men who have held wool slightly for