The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-03-07
BUSINESS OUTLOOK.
BRADSTREETS AND DUN'S
WEEKLY REVIEWS.
Wheat and Corn Show Slight Advances
in Price-Cotton Has Dropped to the
Lowest Point Ever Known-Cot-
ton Good, Fairly Active.

New York, March 1.-R. G.. Dun &
Co.'S. Weekly Review of Trade, which is
sues tomorrow, will say:
No gold goes out, though sterling ex-
change has risen close to the exporting
point, and it does not as yet appear that
the syndicate has made any effort to
control the exchange market. London has
sold about 10000 shares of stock during
the week and the market is distinctly
lower for railway shares, though a shade
stronger for trusts. The stock market
waits for London, and foreigners show
thus far more disposition to sell than to
buy. Withdrawals of gold by redemption
OF legal tenders have not ceased, but since
the closing of the syndicate contract have
averaged about 10000 per day.
Wheat is 1 lie higher, but clearly not
because western receipts are trifie less
than a year ago; not because exports
from Atlanta are small. Spasms of activ-
lty must be expected during every sea-
son and when prices are at the bottom
such spasms can only mean an advance.
Nothing is seen to justify any material
rise, as supplies in sight do not decrease
more than they would naturally ON ac-
count of bad weather.
Corn is only shade higher, with west
ern receipts much smaller than last years.
Cotton dropped week ago to $50, the
lowest point ever known since modern
classifications were adopted, and has not
risen, though the talk of great reduction
in acreage this year is as vigorous as ever.
The whole market turns on the fact that
stocks of American cotton here and abroad
are considerably larger than ever.
The industrials make very slow gains,
where they make any. Little is said of the
Edgar Thompson steel works operation,
though many thousand hands depend upon
it.
At all events, pig iron has been quiet,
and at Pittsburg structural orders ac-
count for large share of the new business
reported, though activity in wire, wire
rods and barbed wire still continues. Bar
iron is frmer at Pittsburg, but without
the reduced consumption in January does
not seem to more than have matched the
production. In the minor markets there
is more business in lake copper, at 13.1c,
with heavy importations.
The market for cotton goods is fairly
active, and the demand improves in some
grades, but it is on the whole decidedly
disappointing, though this week there
has been no sensational reduction in
prices. Undoubtedly the accumulation of
goods continues and is the most danger
Gus feature of the trade.
The sales of wool at the three chief
markets during the past month have
been &c, 203, $50 pounds, against 1S,444,-
131 last year and %, 1S4, 900 for the same
week two years ago, and while the mills
making low grade goods are fairly supplied
with orders it is most unwholesome
feature that numerous cancellations are
reported, indicating that the goods supplied
at exceptionally low prices do not meet
the expectation of buyers.
On the other hand the demand for goods
of better grade seems little better
than expected.
Failures for the past week have been
$50 in the United States against 261 last
year and in Canada 3, against AZ last
year.