The Providence news. (Providence [R.I.]) 1891-1906, 1895-09-14
TRADE REVIE W.
Accuracy Of Governments Crop Repor
Somewhat Discredted.
PRICES FOR IRON MAINTAINED.
Leather Market Dull and Cotton
Goods Strong.

NEW YORK. Sept. AR G. Dun & Co.,
In their weekly review of trade, say: A
slight setback, which may mean much or
nothing, according TO the final outcome
OF the crops, is not unexpected this season.
II the government crop reports were
correct, the situation would not be en-
couraging. 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 IL worth while TO quote the govern
ment report as to cotton.
The fact Is that we are beginning to
market not far from 2,200, 900, 600 bushels
OF corn, though only about 10000, 600
bushels will be moved from the counties
where 1t is grown about 450 900 bush
els OF wheat, OF which the farmers are un-
wisely holding back large proportion,
and about 1900, 600 bales of cotton to add
to the stocks carried over.
The wheat crop Is evidently larger than
the department has estimated, though no.
body knows how much larger, and is COM
ing forward with more encouraging ra-
pidity, no less than bra, l73 bushels hav-
Ing been received at western ports, against
b,i46,00l bushels for the same week last
year, irofu u fnucn larger crop.
The farmers have undoubtedly been
keeping back wheat under an agreement
among themselves, but it does not seem
profitable operation for them. The price
declined sharply, about cents bushel,
with little indication of recovery.
The price of corn has also Yielded,
with strong prospect of the largest crop
ever grown, and at 3s cents at New York
m laro 30 L.. Ill ls, 81
little profit 10 farmers.
Ii we are to have largo crop Of grain
and small crop of cotton it is natural TO
infer that manufacturers may fiud large
transactions at the west, but not at the
south.
Tho Iron Trade.
The largest output of pig iron ever
known, l94,029 tons, Is apparently sup
ported by reduction of $1,000 tons in
stocks of pig iron unsold, but the fact that
the great steam companies have taken
large quantities, which are not included
In tho official statement, renders the ac-
count OF stocks less valuable
The market for finished products is a
little weaker, with indications of hesita-
tion on the part Of buyers at Philadelphia
and Pittsburg, although prices on the
whole are fairly maintained There Is
great pressure for delivery of structural
products and plates, but bar iron is still
quoted at Pittsburg at l. 40 cents and tank
steel at l.l9 cents.
The rapid shipments of Marquette orc
during the past week have some influence
upon prices OF bcssemer products.
Nothing OF Importance has occurred In
the minor metals, though tin has been
stronger at times, with London buying,
and copper has been helped by the report
OF big sale OF lake at l2L cents.
Weak Leather Market.
Transactions in boots and shoes are
rather disappointing While the shipments
continue large--152 $40 cases for two weeks
OF September, against l6S, ,9l5 last year-the
marked weakness in hides tends to hinder
buying. Western hides are offered at 3T
cents, which sold at 0at cents two weeks
ago, and manufacturers imagine that
prices OF leather and boots and shoes will
have to recodc. Orders at present are very
narrow.
Cotton and wooIens.
Cotton goods have been strong with a
comparatively good market for raw cot
ton, but ut the close decline is indicated,
because the market for raw cotton has
shown much weakness.
Sales OF wool have been 6,147, 900 pounds
for tho week, against ll,3ll 400 pounds for
the same week in 1899, and there are in.
dications that the domestic market Is quite
overloaded by the speculative purchases
made some time ago. The manufacturers
are by no means able 10 disregard the
heavy importations of foreign goods, which
have taken away considerable share OF
their traffic.
Decrease In Failures.
Failures for tho week were 1s7 In the |