The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-11-28
BUSINESS EXCEEDS
ALL EXPECTATIONS
Most Encouraging View Of the Situa.
tion by Dun & Co.
BANKS ARE HUNTING BORROWERS
Hoarded Cash Has Been Released
and Monetary Difficulties Have
Vanished as il by Magic..Wheat
(;njns Six Per Cent During the
Week..ThOusnnds Of Hands Find
Employment.

New York. Nov Pr. G. Dun &
Co. will say tomorrow IN tnelr weekly
review of trade:
When the rush of orders after the
election slackened many began to think
business dwindling. But subsistence Oh
deferred orders is not decrease of busi-
ness Disappointment Is observed In
the iron and steel industry. because
various combinations have been ana
are still retarding orders by prices
which buyers believe cannot be MAIN
taned and the same Is true in boots
and shoes. and in few branches or
textile goods. But business is on the
whole enlarging. and the employment
of many more hands will extend pur-
chasing power. The settlement of the
window glass controversy, starting
many thousands hands, and the col
lapse of some important iron combina-
tions with the same effect, give prom
ise OF more business. Broadly speak
ing the gain has been greater than
anybody expected, and it is not sur
prising If small part Of it Is in excess
Of the present consuming demand.
Reports from all parts of the coun-
try show clearly the enlargement of
trade is not at all points in the same
branches, hut everybody helped by a
more confident feeling. Monetary diff
GCulties have vanished as If by magic.
and banks with an uncomfortable sup
ply of idle money are hunting borrow
crs, as the borrowers were recently
hunting lenders. Enormous gains in
bank deposits. 100000 in two weeks.
indicate something of the amount of
funds recently boarded
Wheat has risen over per cent. for
,..ttl Al .t,,,, IN
foreign advices, which have been on
the whole less stimulating. Corn has
sympathized with wheat only little
and is coming forward freely. The
most important factor in the wheat
market is that the visible supplies do
not gain as much as had been expect
ed.
Cotton has gained only sixteenth,
after its considerable decline, and the
remarkably heavy movements puts
the spectators for an advance in con-
stant difficulties and yet there is all
the time to be remembered the fact
that the crop was nearly one month
earlier than usual, and the present cX-
cess over last years movement may
be materially reduced hereafter. Nev
ertheless the fact appears that north
ern mills are taking much less cotton
than in previous years, and the demand
for good size evidently disappointing.
WOOL PURCHASERS UNLOAD.
Wool was bought largely for spec
ulation, and earlier purchasers are un-
loading on the latter, but the mills
are not yet doing much more than in
October. a few more have been start
ed, but there is scarcely more demand
apparent for staple goods. The boot
and shoe industry is still hndered by
the general refusal of dealers to pay
the advanced prices demanded my
manufacturers. except for the limited
quantities which are Immediately re-
quired, and while most manufacturers
are working on orders taken weeks age
at lower prices, which will keep them
busy for some weeks to come. very
little new business is coming. No fur
ther advance of importance has been
made in leather. and the market fOi
hides has sharply reacted, so that the
average of prices is slightly lower than
on Nov. II.
The collapse of the nail combination.
and probably of the beam cOmbina =
tion, and. considerable reduction in
quotations for nails and beam. give
reason to look for a larger demand for
products of iron and steel. but at pres
ent the sales against speculative pur-
chases made some time ago are de-
pressing prices. and bessemer pig has
sold at $l2.25, and according to some
reports a little lower at Pittsburg The
demand for such products as are not
controlled by the combinations is still
increasing, but by no means as rapidly
as expected. In minor metals tin is
scarcely as strong as 1t was week
ago. but copper and lead are stronger
Failures for the week have been 300
in the United States against pa last
year, and So in Canada against AZ last
year.