Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-08-10
THE BUSINESS SITUATION.

DfuuSIreBC'S IN ltS lSsuu Ol obouin"y
says that Fall signs Indicate the main
tenance of general trade and industry
in an unprecedented midsummer
volume. Specially indicative OF this
are the continued very heavy bank
clearings returns, largely increased
railroad earnings, reteoting n traffic in
grain and merchandise generally far In
excess of year ago reports of activity
in numerous lines of manufacturing
industry, notably in all branches OF
iron and steel and kindred lines,
wooden goods, boots and shoes and
cotton goods, and advices from leading
markets of satisfactory opening Of
the regular fall dcmand, with heavy
shipments of goods on orders. The
firinness Of money at many centres is
itself an additional evidence of the ey-
pansion in trade now in progress. With
the exception of food products, the
price situation is generally one of
maintained strength, advances being
most numerous in the line of manu-.
featured goods or in raw materials for
manufacturing industry. Cereals are
all lower on the week, rejecting the
generally favorable crop outlook and
also some Indifference Us regards foreign
| buying of wheat, though export demand
for corn has been apparently stimu.
lated by recent price reactions.
"All classes OF iron and steel are
either firmly held or tending upward,
notable in this respect being all grades
Of pig iron, steel rails. structural
material and bar iron and steel. Other
metals are rather quieter, and tin
shows some reaction from the high
price reached last week. Wool is still
moving upward in sympathy with i'm.
proved demand for the manufactured
article, but buying is more closely con-
! fined to manufacturers, speculative
dealings being apparently less notice.
able. Activity in building is reflected
in very firm prices for lumber at the
| East, while ut the West further ad-
vances, particularly in white pine, are
noted. Cotton is steady, pending further
developments in the crop situation.
Weather conditions arc generally favor
able, particularly in the South Atlantic
States, but Texas advices tell of de-
terioration. The boot and shoe trade
continues in good shape, and hides are
slightly higher on the week, with the
finished product firm. The anthracite
coal trade appears to be well under
control and recent advances are re-
ported maintained. ="
r. G. Dun & Co. g Review says
July failures have been smaller than
in any month of which there is record,
excepting May, and trading failures
smaller than in any other month. Lon
don again recognizes tho financial
power of this country. The Bank oil
England virtually admits that it can.
not draw from New York the gold il
needs exchange moves to the import
ing point; London's net buying Of
stocks has been $1,000 shares, and bills
against produce to be shipped are very
heavy. When it is known that ovel
S;}2, 600, 600 worth of the stocks of foui
leading American railroads were sem
here by London during the past eieh
teen months, the foreign buying u q,
prove important. Heavy shipment /.
come from Alaska and official report!
show that the United States mine!
produce over $50, 600, 600 yearly. Will,
$l,750, 600 was sent in one day to hell
a threatened Canadian bank. receipts
from the interior balance that ouleo
New York banks show great increase il
deposits and loans, with none in cash
compared with last year, but instead o
, shipping money TO move crops they ar
receiving it in August, and commercial
loans of the banks here are cut dow
r to IL per cent of their total, becaus
country banks are taking largo amounts
: Railroad earnings in July amounted
to II per cent more than last year
) that being the best month Of the year
, and the last being its best week, an,
1l.9 per cent more than in 1892. Full
3 June earnings, s7o, 432, were II,
s per cent larger than last year, an,
, 1872 per cent larger than in 1852. Ton
9 mage from Chicago in four weeks wa
406, Isl, against 177,091 last year, an,
$780, SOL in 1892 Nor does the yolum
3. Of business through clearing house
4 shrink, having been for the past wee
i 1868 per cent larger than last year an
$ 52.2 per cent larger than in 1892. an
# the daily average of exchanges for th
month of July was 43.2 por cen
/, greater than last year and 81. pc
t cent larger than 10 1892. -