The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-08-24
or EXPORTS
Given as the Reason for the I'M
ports of Gold.
RAPID MOVEMENT OF GRAIN HELPS.

America Selling 20 Per Cent. More Pro-
| ducts To Foreign Countries and Buying
I'll Per Cent. Less-Wheat, Corn aud
| Cotton Advance-Iron and steel the
Weakest Point-CariisIe at New York
City Sets the Gossips Agog.
NEW YORK, Aug. "a r G. Dun a. Co. 5
weekly review of trade says: Political
events OF the week had no definite infiu.
ence upon business prospects, for the phe.
nomenal variations in sterling exchange
and the beginning Of imports Of gold may
be fairly attributed TO he accumulating
excess Of merchandise exports over i'm
ports To which attention has b en- repeat.
edly called exports from New York for
the past two weeks having been 20 per
cent. larger and imp rts here 81 pr cent
smaller than last year Tho rapid move
mrnt of grain and the unusually early
marketing of cotton tend strongly TO aid
the banking syndicate which has under
| taken 10 regulate foreign exchange
Wheat Advances over Cent.
Speculation has advanced wheat over
cent during the week. corn n small frac.
ton and cotton - the principal motive
power being reports of injury to growing
crops As before the unfavorable nc.
counts respecting wheat are in some meas.
ure discredited by the continued heavy
movement from the farms, western re.
ceipts having been 10 697 l37 bushels in the
two weeks against Is, 759, 1853 bushels last
year With prices cents lower than last
year such n riOvemcnt cannot be inter.
preted as Il sign of deficient yield The
Atlantic exports for the same weeks have
been (llour includcd) f,S92, 600 bushels
against 1885, 93} last year and while the
increase is encouraging il scarcely CORE.
spends with current accounts of deficient
yield in some foreign countries
should Put Corn In Hogs.
The movement of corn continued helvy,
although the price is still so low that one
wonders why the product is put into cars
instead of into hogs. The alarm about de.
slruction of cotton has been most vigor
ously worked here ani abroad, and has
readily raised the price, although it is yet
10 be seen whether the yield has be II so
far diminished as to warrant price near
ly "A cent higher than year ago some
additional heavy failures in the lumber
press on which appears to result at least
in part, from expectations enterta ned 10y
many that the unlimited increase in new
building during the past year or two
would bc permanent
Iron and steel StiIi Depressed.
The iron and steel manufacture is tie
only continued depression to report, and
Bcsscmer pig has sold at SO 40 at Pitts
bttr xtshfl., IL off
prices equivalent to $40 at New York, and
nearly all finished products are being sold
below the current quotations There is
rapid curtailment of production, the Illi-
nois steel company having only seven of
its seventeen furnaces at work, but in
spite Of this the supply of finished products
appears To greatly exceed the demand for
them. The one bright spot is n sale Of 9
600 tons of steel rails to Japan for refltting
railways in that country, which makes an
aggregate of $1,000 tons exported during
the year
Demand for Wooden Goods Small
Nathing encouraging can yet be said re-
garding the wooden manufacture, and the |
demand for goods even at recent reduc |
tions in prices is still disappointingly |
small Sales of wool at the three chief |
markets have been only 7,6700OO in three |
weeks against 1854, 200 last year and 23.- |
36l, 400 i'm he same weeks of 1892 A heavy |
auction sale of cotton go Dis brought |
prices which were considered quite en-. |
and the current demand is |
fairly maintained. although the mills are |
not inclined to make large contracts for |
the future i'm view of the rise in raw ma |
tcrial In general the work in force for
the textile branches does not appear to |
have inc scd