The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-05-04

Trade the Past Week, the Present Partsk-
ing of Between-season Character
Encouraging Feature OF the Woolen
Goods Market-Exports of Wheat and
Flour-FaiIures for the Week.
NEW YORK, May 4.-Bradstreet's says:
There Is relatively less improvement in
general trade this week, the present par
taking of a between season character.
Wholesale merchants in staple lines in
many instances look ahead with conf
dence to the autumn, and in such de-
partments as agricultural implements
building materials, and hard ware. there
Is reported n moderate revival in demand.
There is an unexpectedly small number
of strikes at this season. In iron and
steel there are advances in prices for spe-
cial grades of pig iron due to the output
of Lake Superior ores. required for the
production having been practically taken
up by { few interests. The so called steel
trust is reported extending Its territory.
Higher quotations are announced for cof-
fee, cotton petroleum and anthracite coal.
while print cloths and lumber are prac-
tically unchanged. Copper is easier, and
wool has been sold at concessions, manu-
facturers preferring not TO buy large lots
at nominal prices.
Higher Cost of Foreign woolens.
The most encouraging feature Of the
wooden goods market, from the point of
view of the domestic mills, is the higher
cost of foreign woolens. Exports OF
wheat, flour included as wheat, from both
coas $ of the United States this week are
l. Il
1850, 600 bushels against /, ,2s5 coo bushels
last week, and totals between 2 500, 600
and 3 900, 600 bushels each in correspond.
ing weeks in three preceding years In
the like week of 1892 the total was 3 95l,
900 bushels. Weekly totals of business
failures throughout the United States,
while averaging fcwer than in weeks dur
ing the first quarter OF the ye ar, still at-
tract attention The total number re-
ported is 25i this week, against 2i0 last
week, 2O6 in the last week of April, 1890,
l7g In 1894, and as compared with PAS in
the corresponding week of 1898 Business
failures In the Canadian dominion num-
Der thirty-six this week, against thirty
seven last week. thirty-six in the corre-
spending week one year ago, thirty-three
two years ago and thirty three yea RS ago
The Financial Outlook.
Bradstreet's Financial Review says:
Dullness and reactionary tendencies have
this week taken the place of the more nc.
tive trading aud advancing prices. The
influences which were responsible for the
change were chiefly the check which
events in the Transvaal have given to the
| bullish speculation at London, and the
advance of exchange rates here and the
| fear of gold exports 1t produced. Another
| circumstance of some weight was reports
| from the northwest indicating that tine
wheat acreage may be restricted, and the
| tonnage OF the grain carrying railroads
corrcspondingly reduced. London was
not a large seller OF our market, and
Americans" were only slightly depressed
by the news of the death sentence inn
posed on the leaders of the johannesburg
emeute, aud the natural fear of serious
complications it aroused. The foreign quo
tations for our securities showed, indeed,
further tendency to appreciate when the
Communication of the sentence was an
nounced, aid the London market was re-
leased from the tention which they had
created.
Expansion Arrested.
At the same time, the expansion which
had peen noted in the speculative move.
ment has been arres ell and the inaction
which now reigns over all departments of
the London stock market has deprived
Wall street of either actual or sentimen-
| tai support from that quarter. The in
crease of public buying which had been
noted Tor the last two weeks was checked.
and while no general liquidation ensucd,
there was considerable taking of profits
and closing out of long accounts The
bull pools and manipulators would seem
| 10 have accepted tine situation as one
which offered little or no chance for "A fur
| cher display of their activity, and senti-
ment among the active traders changed
| from "a bullish To bcarish character
| Some street selling was accordingly in
| dulged in, though pressure of this kind
| was, on the whole, light, and the profcs.
| SIGNALS manifested tendency to cover on
| sliuht nrovocation