Show WEEKLY REVIEW OF TRADE tho half year closes with a volume of business at this date about 10 per cent smaller than that of last year but larger than that of 1886 or previous years the general complaint that business is dull means that the reaction from the greater activity of a year ago and from the confident expectations of last winter is keenly felt to very many traders who bought largely in their overconfidence fi the shrinkage brings serious losses or actual embarrassment and to this cause is mainly due the increase noted during recent months in the number of failures for the past quarter united states against 1905 for the same quarter last year and in canada against in amount of H bill ties th ereis also an increase in the last year bul a decrease in canada last year have declined a little dur inythe past week but show at the recovery wheat is but a quarter lower than a week ago corn a cent lower and oats a cent higher fractional gains appear in lard and coffee while cotton has weakened an eighth and speculators for a rise have I 1 been eastly unloading oil is about a cent lo refined has declined an eighth bar iron appears a shade armer inkes at the west being doomed possible said betteli prices aro realized Bessemer for pig at pittsburgh but other quotations do noi i no 1 foundry has been sold for less than 18 at philadelphia and steel rails are unchanged wool remains unusually dull for the season and the manufacture shows no signs of recovery the general average of prices of commodities is but a small fraction lower than a week ago and if crop prospects should prove less favorable some advance might at any time begin the crop excepting as to winter wheat continue generally encouraging in every respect save this the lateness of the season makes all crops peculiarly liable to injury if the weather for the next two months should prove exceptionally hot 01 dry bat our reports from nearly all points show that with favorable weather an excellent yield may be expected As to Winter wheat however the reports do not warrant reduced estimates of the loss and on account of this shortage the weather in spring wheat regions will now be watched with the greatest anxiety accounts from cattle growing regions arable but low prices aie seriously felt by growers the clip of wool does not appear to have diminished materially but there is less readiness to market than usual because of general belief that prices may improve after congress has adjourned the volume of business is good for the season at omaha cleveland denver and afe paul but is generally somewhat disappointing complaints of dalness in trade and slow callec tion from the supply of money is at almost every point adequate in many cases the diversion of capital to real estate operations some months ago causes considerable pressure the latest reports of exchanges show a decrease in the volume of business in comparison with last 18 per cent at new york and per cent outside i of new york at boston the loss is I 1 over 20 per cent at baltimore and new orleans about 15 per cent and at st paul 13 percent but gains appear of 15 per cent at pittsburg 6 per cent at cincinnati and 5 per cent at kansas city in foreign trade exports still fall below last year for juno av per cent while imports slightly increase the value of exports for the fiscal vear has probably beun about and of imports about no gold of consequence has gone abroad nor has the treasury made further bond purchases of importance its statement of cash on hand shows no gain or loss for the past week tn the stock market dalness has brought i S slightly lower average of aut holders hope for a july rise and reports of railroad earnings continue good on the other hand the cutting xi rates increased in creasea und prospects of state regulation of charges at the west grow more threatening the annual reports of the state of business from branch offices throughout the country issued today to day byk by K gedun mercantile agency presents a mass of valuable information it will be observed that uncertainties regarding the action of congress are quite generally noted as a cause of dalness in trade the accompanying report of failures for the haaf year ending june is more favorable than the statement of the last quarter showing but a slight increase in number in the united states and a decrease in tho magnitude of liabilities in canada as follows UNITED STATES failures liabilities 1888 first half 1887 i failures liabilities NEW YOEK june |