Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1896-05-26
CONDITION OF TRADE.
Definite Improvement Expected When Po-
Iitlcal Uncertainties Are Removed.

Dehnite improvement Expected When Pos
htical Uncertainties Are Removed.
New York, May 23.--R. G. Dun g. Co..
in their weekly review of trade, say:
There is nothing like reaction in bust-
ness, though the volume Is small The
stock market refuses to obey orders for q
panic. Manufacturers are not gaining on
the whole, but very few are losing. Rail-
road stocks average a shade higher than
week ago, and there is abundant evidence
taat men of money are watching for tho
rlght moment to buy at the bottom, GER
tain that good crops and definite polit-
teal prospects will bring Improvement in
the ran. Men of all parties have faith
that the American people will find the right
way to maintain the soundness of their
currency. There is no longer that threat
ened danger that both houses of congress
VIII go wrong, and the success of the sound
money men of both parties as far west as
south Dakota is ost significant. The
business world has the best of reasons for
refusing to go into panic, and it looks
hope fully forward to definite Improvement
as soon as political uncertainties are out of
the way.
THE waiting condition which seems 10
some people nothing better than stagnati6n
stun continues. But there is a difference.
thousands of orders and contracts are
merely deferred bee use they can be more
safely given a little later. There is moth
Ing exciting in the ,eculative market for
eSportable products, and the stories about
damage to wheat ha e been numerous, but
the general belief regarding the future
supply is fairly reflected in the decline of
l.62 cent per bushel Cotton speculation
lifted the price a fraction for day or two,
but 1t declined again, and such movements
are always easy at this season, when stocks
can be easily controlled. The European
and American mill supplies, with CONNER
cial stocks, still exceed maximum con-
sumption for the crop year. and the PROM
Use for the coming crop is decidedly good.
If the output of pig iron were always q
reliable barometer of business conditions,
as some suppose, the returns of furnaces
In blast May l. according to the Iron Age
1888 tons, against 1S7,451 April l, would
be convincing. But the increase of stocks
unsold since January l has been 243, 9l5
tons, and this, deducted from the output of
furnaces, leaves 2,9l6.S4S tons for four
months, which is certainly in excess of the
actual consumption, because the stocks of
the great steel companies are not included
in the statement. Since the steel billet pool
was formed these stocks have doubtless in
creased largely. There is scarcely any i'm
provement In the demand for finished prod
ucts, though the Bar association has be-
come strong enough to enable makers of
steel bars to get a slightly higher price.
The demand for nails is so light that re-
duction of price is expected; the demand
for structural work is less urgent, but yet
orders are encouraging In number, al
though new contracts arc for small guam
titles. Besscmer pig is a shade lower.
THE boot and shoe manufacturers have
quite the best of it at present, and the fac
tories are nearly all employed at full time,
some of them having orders for some
months ahead. A slight advance in wom-
ems grain shoes is the only change yet
made in prices, but general advance is
expected. because the market for leather
Is much stronger in tone, though this week
unchanged in quotations. while the Chi
cago market for hides is quite excited be-
cause of scanty supplies, and the average
of quotations is nearly seven per cent.
higher.
1.-The textile manufacturers are still wait
ing. as they have been for months past,
and the extensive curtailment of produce
ton does not strengthen prices in the least.
Failures for the week have been 227 in
tho United States. against POI last year, and
rs in Canada. against 20 last year."