The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1900-07-14
DU IN REVIEW

If the great Increase N IA lures to
800, $40 1874 I'm the first half OF 1900. against
sl9, 664 661 last year, and especia ~ to Sl3,-
$685. O79 last year, gave NJ occasion for
diligent search, failure returns will be
worth noting. But today = - shown
that thirty banking failures fnr S25,S22,-
Gs2, against thAty-one last year for S.
col 72S, accounted for muci Of the diff
ferences that twenty-five brokerage and
real estate failures for s,2 1926, 3i6,
against 145 last year for only 2,32S2 2l5,
accounted for another part, and that IN
building and lumber working and trade
other large failures distinctly connected
with those in real estate explain much
more of the differenc between manufac-
turing and trade failures last year and
this. In these and much less important
changes in a few other lines are seen
substantially all the commercial disas-
ters as yet resulting from an amazing
rise in prices last year, followed by wea-
ry but largely successful efforts during
the past few months to get to a normal
state of business When this is seen
and the remarkable steadlness in num-
Der and size Of the great majority of
failures not for exceptional amounts,
there appears ground for especial graft
ficaton that business has been on the
whole so soundly conducted under con-
ditions of unusual danger. The Iron Age
makes the output Of pig 2S3,413 tons
weekly July /, but the decrease of 5000
tons has by this time been exceeded,
other furnaces having stopped this
month, and repairs of works and of
wage scales may yet occupy some weeks
Cotton speculation has held the price
too high for the comfort of foreign spin
ners who have not provided for all their
wants, but the arrangement by the Fall
River committee to close for a month
or more large part of the New Eng
hand mills will clear away dispute about
the market for goods. The wooden man.
ufacturer is in no better position, with
some Of the best mills closed in part or
wholly on account Of the uncertainty of
the demand. Wool is grow ng weaker
and even offered by some westerners at
prices which were refused not long ago,
but the mills do not yet know what
goods they will be able to sell and from
a temporary idleness there seems to be
no escape.
Prices of shoes are not weaker, but a
disposed to make concessions already
mentioned. So light is new business that
jobbers also seem to have modified
their views.
Leather grows weaker, though kid has
held steadily owing to decreased pro-
ductlon. Splits are little lower, but
most upper leather is steady.
The end of the crop year has brought
the usual estimates which command no
more confidence thin usual. If the coun-
try gets out of a crop officially called
547 600 900 bushes all it wants for food,
s. ed and 2OO, 600 900 for export, with con-
siderable left over in sight, it is the easy
inference that anxiety is needless. There
is no evidence as yet, and for some time
to come cannot be, that injuries sus-
tanned have been as great as some sup
posed, so that alarm is not more neces-
sary than it was last year.
Failures for the week have been 1876 in
the United States against 1863 last year,
and 26 in Canada, against "a last year.
NEW YORK, JULY 12.-Bradstreets FL
nancial Review tomorrow will say:
Much attention is paid at this parl"d
by the speculating world to corn crop
conditions and prospects. The news bear
ing on this subject ct presetn has Leen
favorable though drought and hot winds
in the western portion of the com be t
have furnished material for stories OF a
total loss to the crop in that section.
This was the reason for the selling Of
some Of the granger stocks during the
week The Chinese troubles also continu-
ed to look very grave. Though at the
beginning of the week the disposition in
London and the other foreign financial
centers was to look on the absence OF
news from Pekin as a good rather than
a bad sign. London's sales Of American
stocke were counterbalanced by re
newed purchases, and it was noted that
all the foreign offerings have beenvery
well taken. In fact, the market though
a narrow one has shown a very remarka-
BILE degree Of undelaying strength, and
the chief activity was in connection with
the advances Of several prominent trad
ing stocks, like the Union Pacific, Balti-
more and Ohio Common and Sugar.
In the case Of the first two mnetioned
securities the movements were based on
renewed rumors of favorable action in
connection with dividends.
The bond market is bare of offerings
and in some cases prices for favorite,
maderately high issues, have fully rscov-
cred the amount of their July coupons
IN Ct fortnfOhf