The age-herald., 1901-07-13

ditions make 1t difficult to strike In a
 sentence the key note of general trade
 for the week. In the East business ap- | pears to be of a midsummer character,
 while in the Southwest conditions have
 been adversely affected by drought and
 hot weather reports which superinduced
 a tendency on the part of many to cancel
 orders previously given. In the North
 west, on the contrary business seems to l be quite active as the result of excellent
 conditions and credit is reported being
 freely granted, but in the Middle West
 the tenor of trade Is apparently steady,
 while In the South ordinary conditions
 are noted. But for the week the impor-
 tant developments seem to have been the
 rampant speculation in corn and oats due
 to reports of exceedingly heavy damage
 in the Missouri Valley belt the nervous
 ness of the stock market and a somewhat
 doubted rate situation together with a
 more favorable feeling in labor circles.
 The crop reports to the agricultural de-
 partment point to reduction of 100000 or
 5 per cent from the area planted last | year, with lowered condition, as com
 pared with July a year ago, and as re- suit the statisticians are figuring on | crop of only 209S, 900 bushels, which
 may be regarded as somewhat above the | probable yield if account be taken of the
 decline in conditions as compared with | the average for the season last year. For the wheat crop as a whole a total of 70i,- 'SS0,000 bushels Is figured out, also seem fngly an estimate which may have to be
 revised in the direction of a reduction. The wheat remaining in farmers hands is estimated at 31 1,O00,0o0 bushels, which is less by 20,O00,000 bushels than on July year ago.
 The oat crop shows a decline in con dition for the month of June, and as compared with July l. last year, while
 barley shows slight gain for the month but considerable advance as compared with July last year.
 There is a firmer and better feeling in | the iron and steel market, though the nv business booked is of small volume. l Steel rail mills are now accepting orders
 for delivery in 1902 at $2S per ton, and | the position Is regarded as being rather | strong A late in the week report in- l dioated that an order for 200O0 to 5000
 tons of steel bars had been placed with | the Carnegie and Jones and Laughlin | people by the agricultural implement | men who were holding out the hope that | the price would be lower. Blast furnaces | statistics indicate a decline in the weekly | capacity from 3O6 991 tons on June l, to | 3O3 793 tons on July 1, but consumption | seems to have almost balanced output, as stocks declined from S93,S13 tons on | June l to 327. 761 tons on July 1. Struct- | ural material is active. Tin, after soar | ing on speculative manipulation, broke | toward the end of the week and the re- | port of virtual coup by the leading bull | interests. Labor troubles so far as sur | face indications go are approaching | an amicable adjustment. though one con- | ference has ended without much result. | In wool the situation shows improve | ment, but no speculation appeared. Some
 mills that have secured fall orders by covering and buying raw wool, the bulk | of the demand for which is for territory fine medium and fine. Offerings of staple lots are scarce. New woois are Dc...g
 picked up and values are hardening,
 while fieeced wools are quiet and some Australian wools have appeared and are
 selling at firm prices. Cape wools on
 the other hand are inactive
 Gross railway earnings for the month of June as reported to BradStreets, against $53520,413, as compared with s50,- 1O7, ,421 for June last year, an increase e eos per cent. in favor of the month in the current year. Leather is active on domestic and export demand, and so are hides and skins. In shoes a fair line of business for prompt shipment is report ed, but forwardings are below those of last week, owing to the holidays, amount ing as they do to s27Sl cases, against 101,
 704 cases last week and 4,119 cases for the
 week In 1900.
 Neither dry goods or cotton goods are as active as last week. the holidays af- fecting business, but the undertone is strong and the cost of production Is more of factor In determining prices of finish ed goods.
 Corn and oats, as was to be expected,
 showed the heaviest gains for the week
 in cereals, though wheat, which was weak a. he outset, was firm toward the close on heavy buying and in sympathy with corn. Reasons for the advance in corn are obvious. The July 1 crop report of the government made the condition SIS,
 the lowest for a number of years back
 while reduction of the acreage planted
 as compared with last year was indicated in the returns. Hogs were active through out the week on scarcity of supplies. and
 pork Is unchanged, though at one time it
 advanced in sympathy with hogs and the
 activity in corn In cotton, the market was irregular and professional, the ten
 dency being to wait until conditions be-
 came better or worse.
 Wheat, including flour, shipments for
 the week aggregate 5.506, ,146, against 3,7S,-
 6S9 bushels last week; 2,S29910 in the cor
 responding week of 1900; 3,3S3 815 in 1899 and 291O,S27 In 1898.
 Corn exports for the week aggregate D. SCOPES bushels. against 2,24O,933 last week; 4,022,O6S in this week a year ago. 4,553,7 ,739
 in 1899, and 2S22, ,12S in 1898.
 Business failures in the United States
 for the week were 199, as against 145 last
 week. 221 this week a year ago, 174 in
 1899, 23S in 1898 and 227 in 1897. Canadian failures for the week number
 22, as against 13 last week, and 25 last
 year, and 27 in 1SS9