The evening bulletin. [volume] (Maysville, Ky.) 1887-1905, 1896-08-22
STATE OF BUSINESS.
Saturday Statement of Dun's
Commercial Agency.
IRON AND STEEL DEPRESSED.

Exports Have Increased and Imports De-
creased-Rapid Movement of Grain Has
Tended to Aid the Banking Syndicate in
Regulating Foreign Exchange Steel
Rails For Japan Review of Trade.
New YORK, Aug. 22.-R. G.. Dun e.
Company's weekly review of trade says:
Political events of the week had no
definite influence upon business pros
poets for the phenomenal variations in
sterling exchange and the beginning of
imports of gold may be fairly attributed
to the accommodating excess of merchan-
disc exports over imports, to which at
tention has been repeatedly called, ex-
ports from New York for the past two
weeks having been 20 per cent larg err
and imports here 81 per cent smaller
than last year The rapid movement of
grain and the unusually early market
ing of cotton, tend strongly to aid the
banking syndicate which has under
taken to regulate foreign exchange.
Speculation has advanced wheat over
cent during the week, corn a small
fraction and cotton five-eighths, the
luOblNC BOhCl DClLk ltDOit 10 vi
injury to growing crops. AS before, the
unfavorable accounts respecting wheat
are in some measure discredited by the
continued heavy movement from the
farms. Western receipts have been
1857, 1877 bushels in the two weeks,
against 6,739,36 bushels last year.
With prices cents lower than last
year, such movement can not be in
fatfNratnI CT Of daHOianf uia1A
The Atlantic exports for the same
weeks have been, flour included, 1892
$50 bushels, against 1895, 233 last year,
and while the increase is encouraging,
it scarcely corresponds with current ac-
counts of deficient yield i'll some foreign
countries.
The movement of corn continued
heavy, although the price is still SO low
that one wonders why the product is
put into cars instead of into hogs.
The alarm about the destruction of
cotton has been most vigorously worked
here and abroad, and has readily raised
the price, although it is yet to be seen
whether the yield has been so far dimin.
ished as to warrant price nearly cent
higher than year ago.
Some additional heavy failures in the
tinuing depression which appears to re-
suit, at least in part from expectations
entertained by many that the unlimited
increase in new building during the past
year or two would be permanent.
The iron and steel manufacture is the
only continued depression to report and
Bessemer pig has sold at 5000 at Pitts
burg, while southern iron is offered at
yNrinoC an,1ix,a1anf 70 QI0 or Naxxy Vn,l-
and nearly all finished products are be-
ing sold below the current quotations.
There is rapid curtailment of produc-
ton, the Illinois Steel company having
only seven of its II furnace at work,
but in spite of this the supply of fin
ished products appear TO greatly exceed
the demand for them. The one bright
spot is a sale of 5000 tons of steel rails
to Japan for reftting railways in that
country, which makes an aggregate
$4,000 tons exported during the year.
Nothing encouraging can yet be said
regarding the wooden manufacture aud
the demand for goods even at recent re-
ly small Sales of wool at the three
chief markets have been only 100000
in three weeks, against l6,S37 200 last
year and 23,361 400 in the same weeks
of 1892.
A heavy auction sale of cotton goods
brought prices which were considered
quite encouraging and the current de-
mand is fairly maintained, although
the mills are not inclined to make large
contracts for the future in view of the
rise in raw material. In general, the
working force for the textile branches
does not appear to have increased.