The Port Gibson reveille. [volume] (Port Gibson, Miss.) 1890-current, 1895-09-19
DUN's REVIEW.
Enormous Crops OF Grain Reported
and Crop Damage to Cotton
Seriously Discounted.

RNAAC0oAJ DAoNNAhANAfs
r. @. Dun & Co., in their weekly
review, say: A slight setback, which
may mean much OF nothing, according
TO the final outcome Of the crop, is not
unexpected at this season. If the gov
srnment crop reports we're correct, the
situation would not be encouraging.
But not much confidence is placed in
the reduced estimate of corn, none at
all in the estimate of wheat, and even
the most enthusiastic bulls do not think
it worth while to quote the govern
ment report as to cotton. The fact is
that we are beginning to market not
far from 100000 bushels of corn,
though only about 500, 900, 900 bushels
will be moved from the countries
where it is grown; about 45O, 900, 600
bushels Of wheat Of which the farmers
are unwisely holding back large pro-
portion; and about z, 400, 600 bales of
cotton, if the latter indications are not
erroneous, as they very easily may be,
TO add to the stock carried over.
The commercial stocks of cotton
September first here and abroad,
amounted to 2,1OO,53S bales, and do
mestic mills stock were 800, ,61S bales,
allowing not a single bale for increase
Of stocks at Southern mills. Prices
have settled back little during the
past week, Notwithstanding the gloomy
department report.
The wheat crop is evidently larger
than the department has estimated,
though nobody knows how much larger,
and is coming forward with more en-
couraging rapidity, no less than ), 49,
l73 bushels having been received at
western ports, against 5,446, 001 bush
els for the same week last year, from a
much larger crop. The farmers have
undoubtedly been keeping back wheat
under an agreement between them
selves, but it does not seem profitable
operation for them. Exports from
Atlantic ports for the two weeks Of
September have been 2, All, ,S72 bush
els, flour included, against 5,31O, 1926
bushels last year. The price declined
sharply, about cents per bushel, with
little indication Of recovery. The
price of corn has also yielded with the
strong prospect Of the largest crop
ever grown and at 3S cents in New
York, large proportion Of the crop
will be of little profit to farmers.
If we arc to have a large crop Of
grain and a small crop Of cotton it is
natural to infer that manufacturers
will find large transactions at the west,
but not at the south. There is in fact
a very large demand for goods at the
west and westbound shipments are
very large, although the eastbound
shipments from Chicago for four weeks
of August amount to only 210318 tons,
against 222, IA for the same week in
1894. The largest output of pig iron
ever known, 194, 900 tons, is apparent
ly supported by reduction Of sixty
four thousand tons in stocks of pig
iron unsold, but the fact that the
great steel companies have taken large
quantities which are not included in
the official statements renders the ac-
count of stocks less valuable. The
market for finished products is little
weaker with indications of hesitation
ON the part Of buyers at Pittsburg, al
though prices are on the whole fairly.
maintained. There is great pressure
for delivery Of structural products and
plates, but bar iron is still quoted at
/. AS cents and tank steel at 1.19. The
rapid shipments of Marquette ore dur
ing the past week have some influence
upon prices of Bessemer products.
Nothing Of importance has occurred
in the minor metals although tin has
been stronger at times with London
buying, and copper has been helped by
the report Of big sale Of lake at lac.
Cotton goods have been strong with
a comparatively good market for raw
cotton, but at the close a decline is in
dicated because the market for raw cot
ton has shown much weakness. Sales
of wool has been 6, ,147, 900 pounds for.
the week against 1871, 800 pounds
for the same week in 1892, and there
are indications that the domestic
market is quite over loaded by the
speculative purchases made some time
ago.
Failures for the week we're 1877 in
the United States against 219 last year
and "a in Canada against "A last year.