The age-herald., 1900-08-11
GENERAL REVIEW
 OF WEEKLY TRADE Progress Made Toward More Stable Position of Business. SPECULATION IS CAUTIOUS
Working Forces Are Smaller and Will Soon be Reduced by the Clos ing Down of Cotton Mills
 in New Orleans

New York, August 10-R. G. Dun 6 Co.'S weekly review of trade tomorrow will say;
 Progress has been made toward a more stable position of business, with few more heavy contracts to hold the ground already gained, but for a proper interpretation of the weeks results one must look beyond Wall street operations, where more than any other quarter, the vacation season is leaving its impress of inactivity Specula- ton is cautious, but investment holdings are being increased rather than diminished and operators cannot see that their hesi- tation on the ground of politics is echoed any more in general business circles than two months ago. Small change appears in railroad stocks, ten industrials are s1 and the traction issues shade lower.
 Working forces are smaller and will soon be further reduced, probably for three weeks, by the closing down of cotton mills in New Orleans, which has been delayed longer than expected, but our strength is evidenced to the world by the over sub scription here of the new British loan of 10000, 900 on a 3A per cent. basis, of which over half Is allotted to American appliants. London sales of 40,000 shares of stocks and some bonds and purchases of the new for eign loan explain why gold goes out in the face of foreign commerce relations which show for New York alone for the week an excess of exports over imports Of more than. S5O GOO 900. Exports for the week of $l2,'o3i1s were more than double those of the same period in 1899, and for the year the gam IS over $S5, ,0OO, 900, while imports gain only $z,- OOO0 The money market Is untrouoled py financing of the foreign loan though the vo,ume of new commercial loans Is well sustained.
 Cotton fell so sharply that some recov- cry occurred in an over-sold speculative market, and spot sold at lOc when the official report appeared notwithstanolhs many indications of further reduction In consumption.
 Wheat advanced about a cent, helped by poor foreign crop reports. The domestic outlook is fairly cheerful and farmers have marketed freely.
 Receipts at interior cities aggregate b. 2s7.5Sl bushels against 191S,2l6 last year and 2446, AT in 1898. Exports from Atlantic ports were only 1,72O963 bushels wheat flour included, against 25O3,S44 last year. although purchases on foreign accounts were large and promise an increased move ment hereafter. Corn gains nearly cents with the aid of dry weather reports ana IS 8 cents above the price at this time last year. Both receipts and exports for the week fell more than million pusneis pe- low the same week in 1853.
 Improvement is shown in boots and shoes, wlIn only small percentage of eastern shops at work.
 The textile markets have been free from such features as marked recent revisions of prices In woolen goods recorders are not up to expectations and some serges sell lower Manufacturers show more interest in the wool market, taking fair quantities and seeking fewer concessions. Thetone is firmer, though prices are unchanged
 Although the conference at Chicago re- cently failed to agree to reduce the out put of pig iron, individuals have acted in dependently, and on August l only 24O furnaces were in blast with weekly ca pacity of 44,426 tons, according to the Iron Age.
 This compares with a production of 2S3,- 413 July l, by 2S4 furnaces, and 267,672 a year ago by 187 plants. Present figures are the lowest since March, 1899, when the ca pacity was 22S,195 tons. Furnace stocks are 5O4, ,341 tons, against 421. .033 July l. Re- auctions of capacity is larger in proportion than the recent accumulation of stocks. A smaller output of pig with steadily in creasing exports and moderate activity In structural and finished material, promises to put this indutry on more satisfactory basis.
 Prices have steadied on the lower level in most directions, but in some products the struggle is still on between buyers and sellers. A serious feature. is the wage controversy which extends over wide ter ritory. Production of coke decreases in proportion to the smaller output of iron.
 Failures for the week were 177 in the United States, against 138 last year, and 23 in Canada against 29 last year.
 BRADSTREET'S REVIEW
 New York, August 10.-Bradstreets to- morrow will say:
 Trade conditions still exhibit many irreg- ularities incident to the transition period between midsummer and early fall trade. Despite the hot wave. with its effect on the growing distributive demand, and also be-