Le MeschaceÌbeÌ. [volume] ([Lucy] La.) 1853-1942, 1895-03-09

ing-Faiiures.
New 1oKk, March 2.-R G. Dun &
Co. S weekly review of trade, issued to-
day, says:
No gold goes out, though sterling
exchange has risen close to the eX
porting point, and it does not appear
that the syndicate has yet made any
effort to control the exchange mar
ket. London has sold about 10000
shares of stock during the week, and
the market is distinctly lower for rail-
road shares, though shade stronger
for trusts. The stock market waits
abjectly for London, and foreigners
show thus far more disposition TO
sell than to buy. Withdrawal of gold
by redemption of legal tenders lave
not ceased, bait since the closing of the
syndicate contract have averaged
about 100000 per day. There is no
essential change in the money market,
though rates are somewhat higher.
Agricultural products are shade
higher, but without any reason which
looks to future operations. More peo-
pie are idle in the great industries
than were idle last week, but not for
reasons which distinctly affect the
future.
Wheat is < cents higher. but clearly
not because western receipts are Il
trifle less than year ago. nor because
exports from the Atlantic coast are
small. Spasms of speculative activity
must be expected during every season,
and when prices are at the bottom
such spasms can only mean an advance.
Nothing is seen to justify any mate
rial rise, as supplies in sight do not
decrease more than they would
naturally on account OF bad
weather. Corn is only shade
higher with western receipts
much smaller than last year. Cotton
dropped week ago to a.56 cents, the
lowest point ever known since modern
classifications were adopted, and has
not yet risen, though the talk of great
reductions in acreage this year is as
vigorous as ever. The whole market
turns on the fact that the stocks of
American cotton here and abroad are
considerably larger than ever.
Clearinghouse exchanges daily aver
age 6.6 larger than last year for Feb
ruary, but 33. 5 less than in 1898.
The industries make very slow gains
where they make any. Little is said
of the stoppage of the Edgar Thorn
son steel works, though many thou
sand hands depend on its opera tion,
because the Carnegie company has pur-
chared $4,000 tons besselner pig at
S9.95 to S10.05 at Pittsburgh, n price
indicating that the biggest concern in
western Pennsylvania does not want
to make iron for less. At other mar
kets pig iron is quiet. and elsewhe re
and ut Pittsburgh structural orders
business reported, though activity in
wire rods and barbed wire still con-
tinues.
Bar iron and steel are firmer at
Pittsburgh but without change in quo
tations, and ON the whole the reduced
consumption in January does not seem
to have more than matched the re-
duced production.
In the minor metals, there is more
business in lake copper at 9.65 cents,
with some offerings at 9.5 cents and
forced sales have depressed lead to 81
cents. Tin is also weaker at 10. cents.
with heavy importations.
Nothing new can be said of boots
and shoes, for the markets are still un-
settled by the controversy about
prices. Shipments from Boston in
February have been 306, ,985 cases,
against 29a, 1913 year ago. 1t remains
the fact that new orders are scanty,
even where no advances In prices have
been asked, and the prostration Of
business in the cotton-growing region
is alleged as a reason for restricted or
ders.
The sales of wool at the three chief
markets during the past week have
been 20, 800, $50 pounds, against 1S,444,-
131 last year, and 23.1s9, 900 for the
same weeks two years ago; and while
the mills making low-grade goods are
fairly supplied with orders, it is a
most unwholesome feature that nu-
merous cancellations are reported, in
dicating that the goods supplied at ex-
ceptionally low prices do not meet the
expectations of buyers. On the other
hand, the demand. for goods of the
better grade seems little better than
has been expected.
For the time the treasury reserve
has been replenished, although foreign
exchange has risen to about the ex-
porting point, with heavy sales of
stocks on foreign account.
The exports of merchandise for the
month from New York have been Sa4-,
933, ,59s, against se7. .593 last year,
while imports for three weeks of Feb
ruary have been s27,660, ISL, against
S21, ,0s4, ,o74 last year.
s The government revenue increases
only little, customs receipts amount
ing to SIS, 534 ,692, and total receipts
were but S2,3ii,2 ,275 smaller than ex-
penditures.
The failures for three weeks of Feb
ruary have shown liabilities amount
ing to ss,52s, OBS, against SI1. 1.4o0.4ls
for the same weeks last year; in manu-
featuring S2,s57, ,050, against s5,Oi5, ,s47
last year, and in trading $500, $50,
against sc, es1. .69s last year.
Failures for the week have been $50
in the United States, against es5 last
year. and in Canada ss, against ~ last
year.
SENTENCED FOR ARSON.