The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1895-05-31
DUN'S COMMERCIAL REVIEW

strained spirit Of Speculation Following
Relief from Long Anxiety aud IN. Alum
dance of Money.
New YoHh, MAY e5.-R. q Dun 4
Co.'S weekly review Of trade, issued
to-day. says:
Ii wheat has been 50 greatly injured
by the SHOWS and frost in MAY that
a sudden rise of twelve cents ia
two weeks is justified. the calamity
will affect all business products. Tho
markets do not believe IL. for stocks
do not collapse; iron. leather and
hides still rise. and no holders
Of wheat would sell at 80 cents. a
lower price than had been known al
this season for thirty years prior 10.
1898, il current reports were credited.
Some injury has undou btedly been
sustained, but our wv dispatches d0.
not show that il is really serious
The fact is that relief from long
anxiety and the abundance and cheap
ness of money. for which industry ana
legitimate trade give as We. no ade-
quate demand. have excited the specu-
lative spirit beyond all restraint.
They, however. will have nothing "a.
do with cold facts. The temper
is 10 buy, regardless of visible
requirements. in the faith that
prices are sure to rise. Wild excite
ment in wheat, with sales in one
day at Chicago alone of 800. 900. O08
bushels. about three times the wheat
there is in the country, and a renewed
frenzy in cotton, with sales in three
days exceeding the whole visible stock
in America. followed the furious rise
in stocks, in oil. and in leather at
once a recognition of real improve
ment in business and a menac to is
progress.
Western receipts Of wheat for three
weeks nave been larger than last year
in spite of stories Of frosts- Blu the
rise has practically stopped buying for
export, as the similar rise did in April.
ls>i. which was followed by about the
lowest price then even known. The
weeks sales here have amounted "a.
l55. 000, 900 bushels and accounts of
damage by frosts and by insects are 50
mixed up that some traders infer The
bugs must wear ~overcoats.
On Thursday July rose Ia 50. cents.
but. with heavy sales. reccded 10 81
and closed for the day at - cents.
Corn rose 81 cents during the week.
though most of the corn killed may be
replanted; pork rose 50 cents per
barrel, lard ; cents per 100 pounds and
oats = cents.
Cotton also advanced three-eighths
for the week. with sales of l.J5G.eJJ
bales. current estimates putting the
decrease in acreage at 81 per cent.
and the crop at 1850. 600. Lven this.
with known commercial and spinncr>
stocks. would give the world for the
year and a quarter TO come more
American that it has ever consumed
in a year and "A half.
Excitement has been diverted from
stocks. and London has been buying
but little, while current crop news did
not help trunk lines or grangers. The
terms Of the Northern Pacific reor.
%ganization do not help low-priccd
stocks; nor does the loss OF fruit crops
help sugar. Yet the average decline
was only So cents per share for rail
roads and IL cents for trusts. Reports
of railroad experts maintain hat the
injury to crops has been greatly a
gerated.
Actual earnings for the first half Of
May are IS per cent. larger than last
1898. Exchanges include enormous
speculative transactions. and for the
month are 2s.6 per cent. larger than
last ear.
The iron industry distinctly gains
and the Improvement is no longer con-
fined to prices Of materials. Better
wages at and west Of Pittsburgh con
vince buyers that prices must rise
and there have been larger sales
of finished products with about
81 per ton better prices for
structural forms and steel bars.
while Iiesscmer pig has risen TO sil.ic
at Pittsburgh and gray forge to $40.
The Thomas company has advanced H.
anthracite pig 30 cents. and higher
freights make southern cost more at
the east. Sales of rails to May ! were
420, 900 tons. and deliveries go. 600,
both larger than for the corresponding
period last year.
Purchasers of dry goods. in the be.
lief that prices must rise. have kept
textile mills fairly busy. but the de-
mand for cotton seems Stacker on the
whole. and print cloths are a sixteenth
weaker. There is no Improvement in
demand for woolens, and strikes do
not abate.
Sales for three weeks have been
s.273. $50 pounds domestic and 7,9a9.000
foreign. slightly exceeding the total
sales in lso2. Shipments of shoes are
also heavy. in three weeks 23s. 09y.
against o07. 9ss cases last year. The
demand for some kinds is active. but
many mills have orders enough for
two months and do not want to buy
leather, which continues firm. Hides
are firm and larger exports are ex-
pected.
liabilities for the two weeks Of May
were So. l01, T5G. Of which si.oo>.js'
We're Of manufacturing and s3,2.o.2s9
of trading concerns. Last year in the
same weeks the amount "a S5,0.l, ll6,
of which 81. $50. 1913 was OF manufacture
ing and $685. Of miscellaneous
trading concerns.
Failures this week have been 20- in
the United States. against ls3 last
year, and 23 in Canada. against 2, last
wear.