The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-03-23
DUN's REVIEW OF TRADE.

NEW YORK, March Or. G. Dun d Co.'s
weekly review OF trade, which is published Satur-
day, will say Indications of improvement in BUSH
ness grow more distinct. The most obtrusive of
them, the speculative advance in cotton and in
stocks Is the least reliable, either of these
be said 10 reflect actual improvement in business
conditions. Railroad earnings are scarcely better
and the speculation is largely based on expectation
OF more effective monopoly in coal and some other
products. London was buying largely, but likely
to sell on any rise
Cotton does not rise because there is more de-
mand for goods but because cotton is dearer.
More valuable indications that the volume of
domestic business gains little money is in much
/ better legitimate demand, the force of hands at
work gradually increases in some industries and in
others is restricted only by strikes, which are pre-
sumably temporary.
The rise in cotton 631 cents still seems to have
scarcely any contact with the facts of demand and
supply, but had a very substantial basis neyerthe-
less, II. as some maintain, more cotton had been
sold in this country future delivery than could
be produced here u rtil the crop comes American
stocks were last Friday 1,345 OBS bales against
1,154S0O last year, with the general ex pectation
that something over 100000 bales will yet come
forward. while foreign stocks of American are
6OO.OOO bales greater than at date after the great
crop of 1891.
really no other basis than belief that the next crop
will De small The rise in wheat, which started
with the report of wheat in farmers hands, has
been followed by the reaction, SO that prices are
lower than they were prior to that report, having
fallen 2i4c for the week Western receipts 1885
2l4 bushels, against l.633,331 last year. and for
three weeks were practically equal to last years
/ while Atlantic exports are small
Corn has not followed, but after rise to 81 Sac
holds the price of week ago, receipts being about
a third of last years and exports insignificant
Pork has declined 25c per barrel, and lard lOc per
| 100 pounds.
/ The advance in wages of cokeworkers raises the
cost of fuel for large proportion of the iron manu-
facturers but yet does affect prices OF iron
or its products as there is no increase in demand
1t is hoped that larger buying will soon be prompted
by the idea that pig and all products will be rem
dered costly, though the large excess of Dro-
duction and producing Capacity stands in the Iav
One sale of 10000 tons of steel rails one cas-ppe
contract Tor 5000 tons, bridge and five building
contracts aggregatng nearly 5000 tons are re-
ported this week, but pig-iron is weak without
change both at the East and at Pittsburg. and no
change of consequence is noted in the demand for
/ finished products.
Copper continues weaker at SO % for Lake.
and foreign 6739 tons while tin has risen sharply
| to 1880. Lead is weaker with heavy sales $500
! tons domestic and 1900 tons to foreign takers at
So 05 So TO- but large sales oil tin plate are re-
ported with prices sha lie stronger
The rise in cotton has stimulated buying of goods
and given confidence to agents Heavy transac-
tions and some advances in prices appear in South
ern coarse goods, but not as yet in the finest
| While many orders detained by labor dificul-
ties, there is also much complaint of cancellations
which appear TO be justified in some cases by infe-
/ rior qualities, but in others justified at all
Orders for fall are at present small and new bust
ness has been quiet.
Sales OF wool gradually decreased, and for the
week are smaller than last year AHA, 900 pounds
against 433S, 800. For three weeks of March sales
indicate about 70 per cent on full consumption
Failures during the past week have been 27S in
the United States, against pa last year. and 35 in
| Canada, against 90 last year.