The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-07-13
BRADSTREETs REPORT.
TRADE CONDITIONS For THE
WEEK REVIEWED.

Iron and Steel Are StronR-Busi-
ness Failures 100 as Against 22I
the Same Week Year Ago,
New York. July 12.-Bradstreet's to-
morrow will say:
Varying commercial and Industrial con-
ditions make it difficult to strike in a
sentence the keynote of general trade
for the week. In the East business ap-
pears to be of midsummer character,
while in the Southwest conditions have
been adversely affected by drought and
hot weather, which superinduced ten
dercy on the part of many to cancel or
ders previously given. In the Northwest,
quite active, as the result of excellent
crop 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 con-
ditions are noted. But for the week the
more important developments seem to
have been the rampant speculation in
corn and oats. due to reports of exceed
ingy heavy damage in the Missouri vail
ley belt, the nervousness of the stock
market and a somewhat troubled railway
rate situation, together with a more IA
vorable feeling in labor circles.
Smaller Crops Predicted.
The corn crop reports to the Agricul-
tural Department point to a reduction of
100000 acres, or 5 per cent. from the area
planted last year. with a lowered condi-
81
and as a result the statisticians are fig
uring on crop of only zoos 600 BUSH
els which may be regarded as somewhat
above the probable yield IL account be
taken of the decline in condition, as COM
pared with the average for the season
last year. For the wheat crop as a whole
a total of 704, $4,000 bushels is figured out,
also, seemingly, an estimate which may
have to be revised in the direction of a
reduction. The wheat remaining In far
mers' hands is estimated a. 81, COO, 900 bush
els which is less by 20,000000 bushels than
on July /, year ago. The oat crop shows
a decline in condition for the month OF
June, and as compared with July /, last
year. while barley shows a slight gain for
the month, but considerable advance as
compared with July /, last year.
Iron and steel Are strong.
There is firmer and better feeling in
the iron and steel market, though new
business is of small volume. Steel rail
mills are now accepting orders for deliv-
cry in 1902 at SIS per ton, and the posi-
ton is regarded as being rather strong
late-in-the-week report indicated that
an order for 10000 to $4,000 tons of steel
bars had been placed with the Carnegie
and Jones and Laughlin people by the
agricultural implement men who were
holding out with the hope that the price
would be lower. Blast furnace statistics
Indicate a decline in the weekly capacity
from 306,991 tons on June to 800, 793 tons
on July l. but consumption seems te
have almost balanced output, as stock:
declined from 3S3.S13 tons on June l t.
: S27, 761 tons on July /. Structural mate.
rial is active. Tin, after soaring on spec.
ulative manipulation, broke toward the
end of the week as the result of
virtual coup by the leading bull interest
tions go. are approaching an amicabl,
adjustment. though one conference hai
ended without much result. ~
In the wool trade the situation show.
Improvement. but no speculation appears
Some mills that have secured fall order!
are covering by buying raw wool. tn,
bulk of the demand for which is for ter
ritory hne, medium and fine.
The Railway Earnings.
Gross railway earnings for the month
of June as reported to Bradstreetss ag.
gregate $5S51O,41S. as compared with $50,
107, 62l for June last year, an increase Of
6.S per cent. in favor of the month In
the current year.
Leather is active on domestic and ex.
port demand, and so are hides and skins
- 81
shipment is reported but forwardings are
below those of last week, owing to the
holidays, amounting to S2,7s1 cases
against 10l 761 last week and 81 119 for the
week in 1900. Shipments for the veal
to date amount to 2,543 ,063 cases, against
237O, 456 in 1900
Neither dry goods nor cotton goods are
as active as last week the HOLIDAYS AT.
fecting business, but the undertone Is
strong and the cost of production is more
OF a factor in determining prices of fin.
ished goods.
Corn md Oats Advance.
Corn and oats as was to be expected
showed the heaviest gains for the week
in cereals. though wheat which was weak
at the outset, was firm toward the close
on heavy buying orders and In sympathy
with corn. Reasons for the advance In
corn are obvious. The July crop report
OF the government made the condition 81. 8
the lowest for number of years back
while reduction acreage planted as COM
pared with last year was indicated in the
returnse. Hogs were active through the
week on scarcity of supplies. and pork is
unchanged at the close, though at one
time it advanced in sympathy with hogs
and the activity in corn.
In cotton the market was irregular and
professional the tendency being to wait
until conditions beome better or worse.
Texas meteorological conditions played an
important part in bringing about price
changes, which were lower for tire week.
Wheat including flour, shipments for
the week, aggregating 5.016 f49 bushels.
against S7S7. $50 last week and 2,s29 $40 IN
the corresponding week of 1900 Corn ex-
ports for the week aggregate $500 T3s
bushels, against 2.240, 1893 last week and
4022, 06S bushels in this week year ago.
Business failures in the United States
for the week were 1879. as against 1l5 last
week 22f this week a wear AGO 174 On