The star. (Reynoldsville, Pa.) 1892-1946, 1895-11-06
A TIME OF WAITING.

Great Activity Seen In Iron and Steel
II. q. Dun h Coz weekly review Of trade
says;
The rapid recovery in cotton and the rise
In sterling exchange to the point at which tho
Inst exports of gold were made, have not In
creased confidence. There is n little better
demand for most manufactured products, TO
tail distribution is fairly encouraging. and
the closing of many works Is less significant
at this season than It might be at Others. IL
is time OF waiting md the uncertainty may
naturally continue for some weeks
More activity is seen In iron and steel prod
ucts. though Bcssemer aud gray forge, billes
and plates, nre little lower, and the average
OF quotations given to-day is 2.75 per cent.
lower than at the highest point september IL.
aud per cent lower than In October three
years ago, aud there is also shading OF quota
tions to secure good business. Contracts Tor
lake ere hang fire because wheat pays ~ 20
for the room on which orc would pay sl,l0
from the head Of the lakes. The nail combi-
nation reduced Its November output TO a
third its usual quantity, and the rail output
this year has been only about half the guam
tity required for renewals alone, which shows
the enormous Increase In use Of steel Tor
building aud other purposes. Minor metals
are shade weaker and American tin plato
business by selling at 10 cents below prices
for foreign plate.
Wheat has declined / "a cents and corn 2l5
cents In spite OF many adverse reports about
winter wheat. The heavv wheat and corn
movement helps railroads, but the earnings
thus far reported for october, while larger
than last year. are smaller than In 1899. Tho
large demand for manufactured products has
held prices OF cotton goods, and even ad-
vanced some prints, in spite OF last week 5 de-
cline In cotton. The mills nro said to be
carrying only moderate stocks.
"Bradstreet's' financial review snysi
Further weakness in prices, accompanied
by liquidation Of speculative holdings,
marked the early part Of the week. 1t would,
however, seem that the selling Of weakly
held stocks is now practically over, and that
n great many shares have passed into tho
possession OF strong people. There has nc.
cordlngly been rally from the lowest quot
atlons, though the market is narrow aud pro-
fessional in character, and displays no little
uncertainty in its tendencies. Several causes
contributed to mako n break In prices such as
the market has just experienced, not only
necessary but healthful. Tho condition ol
the exchange market does not mend. this
week having witnessed another advance IN
rates to a level at which the fear Of gold eX'
ports could ugain DO excited. The coming
session Of congress creates fear that while
agitation OF the currency problem may ensue
| a settlement OF the matter on lines acceptable
to financial interests Ia improbable. Tho for
eign influences, too, have been altogether I'D
verse.
Business failures in the United Statc'
number 200 this week. considerable increas,
| over last week, as well rs the like week
| year ago. when the totals wero respectiyel,
259 and 253. Failures in Canada this weel
were AZ, q decrease under last week and tn,
| week one year ago.