Evening capital. (Annapolis, Md.) 1884-1910, 1889-06-15
STEEL IS STRONGER.
Frightening Prospects in Metal
and Wooden Trades.
ESPECIAL ACTIVITY IN LEATHER

The Rennsyf fvaut0 ElOous appear 20 AAANo
Given an Impetus tO These Industries
by Decreasing Production and Strength
enlng Prices-Increased Exports of Gold
and CommodltIes-The Weeks FalIarea.
NEW YoRK, June l5.-R G. Dun a
Co s weekly review OF trade says: The
better feeling which was observed
week ago in the iron and steel and the
woolen industries still continues and
improvement is now felt in prices as
we'll as in magnitude Of transactions.
Meanwhile exports of merchandise in
crease and nevertheless gold goes abroad
in large amounts. The imports Of mer-
chandise remain about rs large ns they
were wear ago when the excess over
exports was heavy. But in two weeks
of June the value of merchandise ex-
ports from New York gains 20 per cent.
over last year, and the exports of bread.
stuffs, cotton, provisions and oil for
May were 12l per cent. above last years.
These facts point to a smaller but yet
considerable excess of imports over ex-
ports this year, so that the outward
movement of specie is fully explained,
irrespective of trading in securities, but
in these it is still the impression that
foreign sales exceed purchases.
Railroad Properties Prospering.
The news as to railroad properties 10
more favorable. A proposition to settle
the Northwestern controversy on the
basis of an allowance of 90 per cent. on
through freight to the lake lines is ex-
pected to be accepted. Other difficult
ties are in more satisfactory shape and
earnings continue in excess Of last years.
Rapid progress in restoring lines inter.
rupted by the floods gives additional en-
couragement and the loss of property
and of life appears from later accounts
to be less than was at first reported.
Meanwhile the government and other
crop reports, though in some points con-
fiicting, are on the whole decidedly en-
couraging, but reports OF injury by lack
of rain in some regions have been made
the pretext for little movement in The
markets, and the general average Of
prices has again advanced little.
Clothing Collections Slow, NJ Usual.
Reports from other cities indicate inn
provement I'M trade at Cleveland and
Pittsburg and in the wool and groceries
trades at Philadelphia, but are otherwise
but little changed. Collections show no
improvement on the whole, but COM
plants refer more frequently TO the
clothing trade than to any other. Some
continuing embarrassment there is q
legacy from the last open winter. In
dry goods there are clear signs of greater
activity and some bleached cottons have
been advanced, while brown goods re-
Gently reduced in price have, In some
instances, been put back.
Especial activity in leather has re.
suited from the floods in regions where
many tanneries are located, and crop
leather has advanced fully cents since
June /. The glass trade of Pittsburg Is
fair, with factories generally In full
operation, but number of the smaller
coke producers have shut down for the
dull season. For anthracite coal there
is better demand with reduced output.
The Iron Industry Picking UP.
The capacity of iron furnaces in blast
June was 137, 119 tons weekly, against
144,342 tons May 1, but much Of the de-
crease was due to the st0ppage Of fur
naces at Johnstown, which were not
much injured, and are expected to re-
sumo work Immediately. The sales Of
southern iron continue large, and prices
of pig at Pittsburg are rather lower, but
the Thomas Iron company has advanced
its quotations to SIT for No. 1. Better
prices are realized tor structural and
plate iron and tenth Of q cent better
for bar iron, while the larger demand for
steel rails has so stiffened the price that
$2S is now quoted.
Part of the demand, resulting from
the necessity of rebuilding works,
bridges and roads destroyed by food, il
but temporary, and yet the consumption
surpassed, since prices stiffen with raw
iron coming into market at the rate OF
more than I, ,OO0, 900 tons yearly.
BreadstuAs are Stronger,
Breadstuffs are stronger, wheat /
cent, with sales here Of %, 600, 900 bush
els, and corn and oats each an eighth
Less favorable crop reports are the pre-.
text, probably excessive speculative
sales are the cause. Cotton has NOS
changed and the official report for Nav
shows exports of 1O1 ,257 ,504 pounds
against 10l, ,6IO,0J1 last year. Since
June l the shipments have been very
small. with even greater decrease IN
past receipts. Coffee has receded q
quarter, the lack of demand at high
prices at last affecting speculative con
fidence. Pork products and hogs are
lower, but oil has advanced IL cents.
The rise In raw sugar continues, Al cents
per 100 pounds for the week, and re
fined has been marked up at 81 cents foa
granulated.
No disturbance results in the money
market here from the heavy exports 81
gold in part, because during the past
week the treasury has paid out 81, ,800,.
900 more than it has taken in, but shrink.
ing bank reserves in June do not prom.
ise easy money next fall.