The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1895-03-14
DUN'S REVIEW.

New York, March 7.-R. G. Dun &
Co.'S Weekly Review will tomorrow say
Congress now adjourned and proof
that, though the rate of exchange rises
to and even above the shipping, gold does
not go out, produced much better feel
ing. Prices do not improve and there is,
on the whole, no gain, but some loss in
wages, while strikes of $4,000 coal miners
at Pittsburg and several thousand build
ing workers here, besides strikes in 10 OF
II textile and iron establishments fur
Their lessen purchasing power for the time
But there is anticipation of improved de,
mand for goods on the general demand
and many are buying beyond present need
on the strength of it.
Cotton has lowered lac from the low
est point on record, though receipts have
been 1O2,G19 bales against SO, 452 last
year for the week. The rise is due tC
n belief that the acreage will be reduced
this year, but stocks in sight are so large
as to make a sustained advance difficult
Wheat has risen 3-Sc because of rumor
ed injury to gain in some states. Re
ceipts for the week are nearly as large
as last year, but in February 1910, 46t
bushels against 7,050909 last year, with
Atlantic exports 2,9S2,670 against 3,12O,
200 last year. Stocks in sight are enor
nous and western accounts make the
stock of wheat in farmers hands very
large. Corn has declined 1-4c, though re-
ceipts are not half last years with eX'
ports insignificant. Pork and lard and
hides are a shade higher, and beef has
advanced to the highest point since July
Three causes help the iron industry tor
the time: Expectation of the great strike
at the coke works, reports that Bessemer
lake ore will advance, and moderate in,
crease in demand for roducts. Sales OF
Bessemer iron to three great Pittsbure
companies, said to aggregate. 125,OOO tons,
protect them against the change in ore,
and with the output in coke, over 1000
tons, and shipments larger than ever
they seem to be prepared for q strike.
The increase in demand is on the whole
small, much of it due to new buildings
throughout the country and some to bet
ter orders for wire nails, while wire rods
and plates are in fair demand, but prices
have not advanced.
At Chicago there is a better demand
in most branches. Copper has been de-
pressed to lie for lake, and lead is of
fered more freely at Bic, while Ameri-
can makers of tin plate are putting prices
sometimes lower than those of similar
imported plates
Strikes to resist the reduction of wages
in several textile works, and reductions
effected in others by no means contra
dict the facts that the mills are receiving
somewhat better orders. Prices of goods
are very low and print cloths fell to "a
cents below any former record. The rise
in cotton helps the dry goods market this
week. In wooden goods the initial de-
mand for heavy weights is nearly over,
with fairly good business i'll some lines
but only moderate in others, while con-
tinued and numerous cancellations in
low grade ard medium goods give makers
much embarrassment But sales of wool
have been 4S5S,300 pounds, almost half
foreign, against 5,15O,6OO last year,
only Onn-fourth being foreign.
Exchanges through clearing houses are
rs per cent larger than last year. but
22.6 per cent smaller than In 1895, while
the first week of the month shows little
gain.
Money markets have hardened sODle-
what and commercial paper is offered, es-
pecially in dry goods.
Liabilities of failures in February
amount to S11 ,250,122, against SIT ,S59,-
go last year, S3,619,S62 being in manu-
featuring.
Failures for the week have been 264
in the United States against 248 last
year and SO in Canada against go last
year.