The Oskaloosa herald. (Oskaloosa, Mahaska County, Iowa) 1885-1919, 1901-08-08
IS MORE HOPEFUL.
stricken states Gives Cheer
full Tone to Trade

New York, Aug. 3.-Bradstreet's says:
"Copious rains throughout the western
half of the country have had the expected
effect of inducing a more cheerful tone and
the feeling is decidedly more hopeful than
1t was week or two ago. Rains practi-
caIly insured large spring wheat crop,
although the damage already done APP
pears to have been serious, judging from
the strength of the corn market Itself and
the advices of heavily reduced yields which
are reiterated from the sections affected
Bradstreets advices point to the early corn
crop as practically failure in the leading
surplus producing states west of the Mis-
slssippi, but late corn undoubtedly has
been saved, and as time elapses estimates
of production are being raised. From the
rest of the country trade advices are in
the main quite, cheerful, and despite the in
tense heat and, drought of July an extraor-
dinarily large business appears to have
been done, which is reflected in the bank
clearings for that month. Cotton crop con-
ditions improved in the south as a result
of the recent rains and trade advices are
correspopdingly more cheerful, Pacific
coast crop advices are also better, although
shipping activity is interfered with at San
Francisco by strike. The northwest will
produce crops largely in excess of last
year and heavy fall trade is anticipated
in that section. The poorest adviceS nat
urally come from the central west and
southwest, but it is significant that points
like Kansas City report that cancellations
have stopped and that the outlook is much
better.
Prospects for the ending Of the steel
strike and the better tone of crop advices
have made the iron and steel trade more
cheerful. For the first time in some weeks
special activity is noted in the cruder
forms, due to the buying of 70,OOO tons of
Bessemer and basic pig iron by the largest
single interest. Finished products are as
active as ever at all leading markets. Bar
mills are reported filled up with orders to
the end of the year"
r. G. Dun & Co., in their Weekly Review
of Trade, say: Continued favorable
weather conditions have resulted in the
saving Of much late planted corn and in the
northwest ideal weather for spring wheat
harvest has been enjoyed. AS this il the
point that business in all parts of the coun-
try has been most carefully watching, the
general feeling Is better than a week ago,
although the disposition on both sides to
settle the steel strike has not yet resulted
tn any agreement, and the labor situation
is thus kept prominent. Violent fiuctua-
tions have marked the course of corn
prices. The top point of the previous week
was not regained, but traders on the short
side Of the market were compelled to cover
at loss. The decrease in marketing is not
in proportion to the advance in prices.
Whatever benefit may have accrued from
the high level of prices, II certainly has
driven foreign buyers out of the market.
Atlantic exports for the week amounted
to only z54,lS bushels, against 3,1O6, 931 a
year ago, and 400, 497 two years ago, at q
difference in price of IS and rs cents, re-
spectively. Wheat is of less interest to
spectators, but in legitimate trading 1t is
especially active, western receipts for the
week reaching 5,5O8,311 bushels, against
500, 7s1 last year and 4,724 1853 two years ago,
while Atlantic exports were 1853 bush
els. against 2,S7S,79S in. 1900 and 3,765,7s7 in
1899
Failures in July were 697 In number,
against 793 last year, and S035,933 in
amount of liabilities. against s9,771,775 in
1900"