The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-05-25
THE BUSINESS WORLD.
Condition of Trade as Viewed
by Experts.
WEEKLY Y REPORT OF r. G. Dun 4 co.

No Perceptibis Increase In Large Orders
Many Contracts Deferred Until Condi-
tions Improve-Deciin In Wheat Re-
flutes the Stories of Damaged Crops
Wide Difference I'm Iron Rstes-Textiie
Industries Continue stagnant.
New YORK, May 25.-R. G. Dun a. Co.'S
Weekly Review Of Trade saIe5: The wait
ing condition, which seems TO some people
nothing better than stagnation, continues;
but there Is difference. Thousands of
orders and contracts are merely deferred
because they can be more safely given a
little later. There is nothing exciting in
the speculative market for exportable
products, and the stories about damage 70
wheat have been numerous, but the gen
crll belief regarding the future supply IL
fairly reflected in the decline OF l.62 per
bushel. The western receipts continue
largpr-for three weeks 5,slS,625 bushels,
against 4,362, ,537 last year, while Atlantic
exports, flour included, have been only
3,lgs SOB bushels for the same weeks,
against 4,74g,674 bushels last year.
stories OF Damaged Crops Refuted.
The home market fails entirely TO re
spond to short crop stories for IL is known
that western reports indicate crop ex-
ceeding last years. Cotton speculation
lifted the price fraction for day or two,
but the price declined again. The Euro
pean and American mill supplies, with
commercial stocks, still exceed maximum
consumption, for the crop year, and the
promise for the coming crop is decidedly
good. If the output of pig-iron were al
ways reliable barometer of business
conditions, as sons suppose, the returns OF
furnaces in blast on May (according to
The Iron Age, lSS,3l9 tons, against 49,
i5i tons April u would be convincing;
but the increase of stocks since Jan. | has
been 2i3,9l5 tons, and this, deducted from
the output of furnaces leaves 2,976,3is
tons for four months, which is certainly
i'm access of the actual consumption, be-
cause the stocks of the great steel compa-
nies are not included in the statement.
Light Demand for Nails.
Since the steel billet pool was formed,
these stocks have increased largely. There
Is scarcely any improvement in the demand
for finished products, though the bar as
sociaiton has become strong enough TO en-
able makers of steel bars TO obtain a
! slightly higher price. The demand for
nails is so light that reduction of price
| Is expected The demand for structural
| work is less urgent; yet order arc encour
| aging In number although few contracts
are Pittsburg, and the ablest observers of
| the iron market notice that there is glar
ing inconguity between pig at sl2.5o, bill
lets at So. .25 and steel rails at, SIS. The
| textile manufacturers are still waiting N
they have for months past, and the cxten
siye curtailment of production does not
strengthen prices in the least.
wesaen aTsExe. Dali
Some large cotton mills have discontin
ued production this week, but the onl
change In representative quotations Is =
cent decline in brown sheetings Tn
market for woolens Is exceedingly dull
| notwithstanding the stoppage of man,
mills, and while worsteds and clay mkt
ures are both shade lower, there is moth
ing like confidence or activity as yet II
| any branch of the manufacture. Sales o
wool have been 2,6iS,200 pounds for tn,
week at the three chief markets, and fo
the three weeks ending May 81 were 9, 1877,
400 pounds, of which 4,SS2,; 800 were do
| mestic, against l5,9iS,350 in the SAM
weeks of 1892, of which S,60l, 200 were do
nestle Failures for the week have beer
2S i'm the United States, against 20s las
year. and twenty -eightin Canada, agains
| twenty-t hree last year