The daily morning journal and courier., 1895-02-16
7~ 7-s -----."
 DUNlS REYIEW OF TRADE.
Wheat and Cotton Supplies Far Beyond ti
 Worlds Demands.

Wheat and Cotton Supplies Far Beyond the Worlds Demands.
 New York, Feb, 15,-R. G. Dun & Co., s
 Weekly Review of Trade says: While the imports of merchandise at
 New York for two weeks have been in
 larger volume than last year, they are
 much behind those of two years ago,
 and the customs revenue averages 30 per cent less. The reviving confidence
 has not only prevented withdrawals of gold by Americans in the main, but
 sales of American securities by foreign
 CTS have been nearly if not quite bal
 anced by purchases. Stocks have not
 held the sudden rise of Saturday and
 average for railroads 73 cents per share
 lower and for trusts $1.34 lower. Rail-
 road earnings have not done better, as
 storms made the first week of February
 bad one, with the receipts AS per cent.
 less than last year, while the final re-
 port for January shows 10 gain, though
 it is 13.2 per cent. less than in 1893. The
 tonnage returns from Chicago are more
 favorable, exceeding last years largely
 for the latest two weeks, though still
 20 per cent. behind those of 1893, while
 Indianapolis and St. Louis report small
 gains. ~
 The two obstacles which block the
 path just now are exceeding cheapness
 of farm products and restricted opera
 tions in the industries.
 Wheat and cotton supplies are so far
 beyond the worlds demands that ex- treme low prices are natural, and any speculation for advance is greatly han dicapped. Restricted purchases by the west and south naturally result
 Perhaps this influence is felt as much in the boot and shoe industry as In any other, for while only a part, though large part, of the various qualities has been advanced in price, the distinct cur tailment of orders in others is especial ly observed. Between this shrinkage and that which results from refusal of jobbers to pay advanced prices for oth- CT goods, quite a number of the facto- ries have been closed and others are running part time, comparatively few | having orders for their full force. ship | ments from the east continue larger | than in any previous year, to date 479- | 722 cases, against 454 419 two years ago, but a continuance of such activity is scarcely to be expected. Leather con tinues strong in all grades, and receipts are on the whole closely taken.
 The output of pig iron February was 167,291 tons against 16S,410 weekly Jan uary 1, but the stocks remaining unsold were 718,073 tons against 645,45S Jan uary 1, and indicate a decrease of 16,1S7 tons in actual consumption weekly dur ing the month of January. The severe storms of February have further cur tailed production. Sales of steel rails were only 15O,OO0 tons for January, and the weather has arrested structural work and retarded deliveries of all kinds. But there appears a better in- luiry for some finished products, es- pecia1ly in wire, wire rods, nails and oarbed wire, the business Is encourag- ng. Pig iron is unchanged in price, 1ere and at the west, though northern sales are pressed, and the demand for oar iron is about the same. Lake cop per is quoted at 9.75c,
 Continued dullness is reported in cot .ons and reduction of prices by the Amoskeag mills causes some hesitation. n the main the works are well em- ,loyed, but with extremely scanty profits, and considerable doubt whether | market will be found for accumulat- ng stocks of some goods. Trade in yoolens is by no means satisfactory, hough faif1y large in volume in me- Hum and low grades, but prices have : 'een generally reduced and competition with cheap foreign goods is felt some what more Sales of wool continue within about sixth of weeks nor nal supply for eastern mills, amounting { 0 506S, 400 pounds, of which 8,595,6 were domestic. Fine fleece are not ,ronger, and sales of Ohio xxx are quot { d at 161sc. Failures for the week were 270 in the Tnited States against 1928 for the corre- f bonding period last year, and 51 in anada against 55 last year