The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-09-14


Was slightly Heavier-The Demand for
Pig Iron Begins to Reassert Itself-Bus-
mess Failures for Week-A Review OF
the Week on Wall street.
New YORK. Sept. 14.-Bradstreets
says: The feeling among jobbers and
manufacturers last week that an i'm
provement in demand for seasonable
stables was in sight was evidently well
founded. for at more than dozen cen
ters south and west demand is now
more active. the volume of sales has
Increased. and the general outlook Is
much more favorable for business later
N the autumn. Notwithstanding the
Labor Day interruption. the week >
volume of business is slightly heavier.
several cities reporting a larger de-
mand this week TO replenish depleted
| stocks than during two preceding
months. notably among jobbers in gro
ceries. hardware. dry goods. millinery
mats and shoes. The most marked inn
provement is at Chicago, ST. Louis, ST.
Paul, Minneapolis. Pittsburg, Charles
ton, and Augusta, although other cities
have reported a better feeling and
L
such gain has taken place in financial
as in commercial circles. New Or
leans bank failures have resulted in
| restriction in loans and volume OF
trade al time when the early move
ment of cotton and sugar prospects
had stimulated trade. In Texas farm
ers are holding cotton for an advance
In price. and leading Georgia jobbers
and mercantile collections much i'm
proved
Effective Remedy.
The shrinkage of the production OF
| pig-iron i'm the United States from a
| rate equal to 10 600 GOO tons PER annum
| to less than two-thirds that quantity
| Is proving an effective remedy for
/ stagnation in the iron and steel indus
tries and already demand has begun
| to reassert itself There is a more en-
| couraging look 10 the price movement
/ also. Exports of wheat (lour included
| as wheaD from both coasts of the
| United States and from Montrael this
| week amount to 3,79914l bushels as
| compared with $4,000 bushels last
| week 100000 bushels in the corre
| spending week one year ago, 2,7S9. 600
| bushels two years ago, and with 5,351.
GOO bushels in the like week of 1898
| Business failures throughout the Uni
ted States this week number sos. which
while twenty-eight fewer than last
week. is ninety-ive more than i'm the
like week OF 1895. eighty-five more than
in the corresponding period of 1894. and
eight more than in the second week Of
| September. 1898. after three months OF
panic. More than twice as many fall
ures are reported this week as in the
failures i'm the Dominion of Canada
this week number forty-one against
thirty last week. twenty-five in the
week year ago thirty-eight two
years ago. and thirty-siX three years
ago
| Week in Wall street.
| In spite Of some reactionary i'm
pulses the tone of speculation during
the week has been strong. The mar
ket is i'm every way a narrow one. de-
pending upon the professional element
for its activity. Outside participation.
either from our own public or London.
cuts little figure. and the short inter
est has been So greatly reduced that
| buying 10 cover outstanding bear con-
tracts is no longer capable Of affording
much support TO prices. 1t would seem.
however. that large interests which
parted with their holdings have con-
tinued To buy back their securities.
| Part Of the reactionary tendencies on
| Wednesday and Thursday were due it
seems TO the bank failures at New or
leans but the unfavorable developments
| were In the main offset 10y the contin-
ued receipts Of gold from Europe. More
over the prompt decline of exchange
| here when the Bank Of England on
| Thursday raised it's discount rate and
| advanced the selling price for Ameri-
| can gold coin afforded a promise Of
| The continuance -of the inflow. the ship
ments OF gold by steamers leaving for
| this country Friday being. SO far as
known. about Sc 500 600 The money
market continues firm. but has lost the
nervous and disturbed tone that char
| aCterized il fortnight ago