Evening journal., 1900-07-14
CONDITION OF TRADE

Commenting on the condition OF
trade during the past week Bradstreeta
says:
While trade Is still only midsummer
volume, the beginnings OF improvement
In demand are apparently becoming
visible The improvement is still one
Of tone rather than of actual demand,
but WITH as seems probable, a yield of
$40, 900 900 OF wheat. a next to record
breaking yield of corn and n very large
production of oats, the Western crop
situation contains many encouraging
features. The Southern cotton crop
has undoubtedly suffered, and condi-
tion is unprecedentently low for this
season of the year, but the acreage
planted was large one, and prices are
so much higher that a satisfactory
financial return is confidently looked
for. In addition. railroad earnings
point TO the maintenance OF the busi-
ness OF the country at a volume in ex-
cess OF last year.
The advance In wheat prices In June
based on crop damages, evidently
proved attractive 20 holders, because
stocks in the United and Canada on
July were unchanged from the month
before. European supplies fell or, and
the total worlds supply including
that held in the above. and in Australia
and Argentina on July /. was 139 1885,
600 bushels,an increase Of only 100000
bushels over July /, 1899. but a gain oi
| 54000000 bushels over July /, 1898
Banks clearings for the week aggregate
81 ,525 $50 900, a decrease OF 4 per cent
from last week, and OF 21.6 per cent
from this week a year ago. but gaiI
of q per cent. over 1898, OF 40 per cent
over 1897. and Of SS per cent. over 1894
r. G. Dun & Co.'s weekly review o
trade says:
II the great increase in failures L
Sl00,570,134 in the last half OF 1900
against $40 ,664 ,661 last year. and espe
cially to $4S. S.S93.079 in the second quar-
ter, against S21 sos. .635 lastyear, gave n
e occasion for diligent search, failure re
e turns would be worth nothing. But tC
3 day it is shown that thirty bankin
failures for s25,S22 $50. against thirty
p one last year for s7.6O1 .72S. accounte
for much Of the difference; that 2e
brokerage and real estate failures fc
b so, ,122,S46. against 145 last year fC
only S2,32S,21 accounted for anoth,
+, part, and that in building and lumbl
u working and trade other large failur,
C distinctly connected with those in re
estate explain much more of the diffe
lence between manufacturing and trai
ing failures last year and this. In the
- and much less important changes in
= few other lines are seen substantial
's all the commercial disasters as yet T
le sulting from an amazing rise in prlc
he last year, followed by weary but large
gs successful efforts during the past 4,
* months to get back to a normal sta
,g of business. When this is seen Al
he the remarkable steadiness in numb
t, and size of the great majority of IA
ures not for exceptional amounts. the
nc appears ground for especial satisfacti
We that business has been on the whole
on soundly conducted under conditions
ed unusual danger.
-er Rarely has there been more RAJ
an change toward normal prices than
=, late, and yet July failures thus
show not one OF 500, 900 or more.
DC cept in real estate. building. luml
cy. and cycles or automobiles. leavins
bis few manufacturing failures for S2t
gle s75, and trading failures averagl