The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1896-11-19
DUN SEES. IMPROVEMENT.
Says Industrial Situation IL Bright
B Wheat Factor.

Says industrial situation IL Bright
Wheat Factor.
New York. Nov. l4.-R. G. Dun q Co.,
in their weekly review Of trade, say:
mo ono now doubts that brighter day
II dawning, and 1t IL common remark that
never before has business shown 30 great
q change for the better within single
week. Dispatches telling Of about 800
works which have opened or materially
report. for throughout the country the gain
has been surprising even to the most hope.
full
Foreign need Of American wheat con-.
tinues an important factor, and the price
week, 10 cents for two weeks. and "A cents
since early in September. The price IL the
highest since June, 1892. Western receipts
were only 4.4o4.e3s bushels. against S.1o2.s6t
last year. but the election cut OF much
work during the days in which these re-
ceipts were started to market.
Many textile works have been started
or increased in force, many on orders
booked weeks ago. But there has not
been much increase in the demand. After
purchases of 100000 pounds Of wool in
200 pounds last week. but prices were
btrong and in some grades ! cent higher.
and even greater advance is demanded at
the west, while foreign markets are higher
and Australian fully I cent per pound up.
The market for cotton goods is not yet
cotton crop are generally credited. caus-
ing an h-cent decline to cents.
THE output of iron furnaces In blast No.
vember / was 12407 tons weekly, having
been increased 1926 tons. or 10 per cent.
in the latter part Of October, by conf
stronger. although the enormous pur-
chases Of pig iron in advance of needs
causes comparative inactivity at present.
Plates and steel bars are 81 to s. per ton
higher. and sheets in better demand. An
thracite and Bessemer pig have advanced
|. shade and the average OF prices Is 2h
cents higher.
1T is noteworthy that the prevailing ex-
pectation, notwithstanding the general i'm
provement in business. is that some II
not all the combinations will decide to
reduce prices. The coke combination, 1t
now appears, has not prevented large con-
tracts for future delivery at less than y.
its fixed price, and even less than $1.75.
but the output last week decreased. A
heavy sale Of copper to foreigners. said to
cover 10000. 900 pounds, has raised the price
to liz cents, and tin actually sells at IL
cents. though less Is quoted.
Tho change In the money market Is
striking. Instead Of &2.500.000 going out
to the interior. as before. $2,600.000 have
come in this week: instead OF 80 cents dis
count, New York exchange at Chicago Is
ut 10 cents premium; Instead Of mer-
chants and manufacturers vainly hunting
lenders, banks are hunting for more com
mercial paper. Commercial rates are down
to S per cent on best paper. Foreign ex-
change Is higher, owing to sales OF =. 600 900
government bonds taken by the Bank OF
england as q member of the syndicate
early in 1885,. to payments Of $4,000 ot
sterling loans. and to foreign realizing on
| $2OO0,0OO Of securities. but all these are In
effect taking profits for confidence In Amer
lean honor.
Failures for the week have been rs
in the United States. against 2S3 last year.
and 46 in Canada against ~ last year..