The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1896-09-17
ENCOURAGING.

Flows strongly This way.
NEW YORK, Sept. 12.-R. @. Dun &
Co., in their weekly review Of trade
Saturday. says:
Better prospects and relief from
monetary anxiety do not yet bring
larger demands for finished products,
though large buying Of pig iron, wool,
leather, hides, cotton and other mater
ials continue to show growing belief
that q general upward movement in
prices will come with the replenish-
ment of dealers stocks this fall. Most
prices are extremely low, SO that
nothing more than an ordinary de-
mand would advance them. But bank
failures at New Orleans cause
temporary hesitation, crop returns in
dictate disappointment in some cotton
and some spring wheat states, prices
of corn and oats make it improbable
to sell at present, the number of man
ufacturing works and mines in opera
tion does not gain, but rather de-
creases, reductions of wages are some
what numerous, occasionally resisted
by strikes, and all these conditions di-
minish for q time the buying power of
the people. While many think general
improvement can not come until the
election has removed political uncer-
tainties, others expect soon to see the
result anticipated IN trade.
The weekly output of pig iron de-
creased 26, 578 tons in August to 1870, 500
tons against 217, 800 in November, a
shrinkage of 40 per cent. Other
works still have stopped since Septem-
ber began Unsold stocks increased
62,06s tons in August, exclusive of
those accumulating in the hands Of
great steel companies. Sales of wool
for the week cover about equaled the
normal consumption for the first
time in several months, not be-
cause manufacturers have more work,
for no gain is seen in the time or out.
put. The buying is mainly specula-
tive, based on the belief that prices
must advance. No considerable de-
crease appears in the enormous stock
of print cloths, although the output
has been reduced about half for two
months, and fifth of the years pro-
duction remains in the hands Of maxi
ers, but they have advanced the price
three-sixteenths during the week. For
and manufacturers have advanced
prices because of the rising cost of ma
terial, the average for all cottons hav-
ing risen 5.3 per cent. since August 6,
but stocks of many kinds are large.
The Financial Chronicles annual re-
port, issued Friday, makes the last
crop of cotton 1852, 47S bales, the con-
sumption north and south 2,695, $40,
and the exports 4,712,913 during the
year. No account of southern mill
stocks is attempted and no estimate is
yet given of the crop now coming for
ward. Accounts of disappointing re-
turns in spring wheat states
are numerous, but it is diff
cult to recon cile short estimates
with the heavy marketing at low
prices. Corn is almost wholly out of
danger and the yield is generally ex-
pected to be the larg est, as the price
here is the lowest ever known.
| Stocks grew steadily stronger till
| Thursday. although railroad earnings
are not stimulating. The average for
railroad stocks has risen slightly, and
for trusts over 81 per share, notwith.
standing much realizing of profits,
especially since the failures in New
Orleans
The tide of gold imports still runs
strongly this way with further en-
| gagements lifting the aggregate to
$2s, ,620, 900, of which $23. 172, 05O. have ar.
rived. The prospect led the Bank Of
England to raise its discount rates
from to ~ per cent. and some sell
ing on foreign account followed in
stocks.
The New Orleans bank failures were
followed by unusual offerings of cotton
bills and the interior demand fer money
also increased, the net outgo being
81, 35O, 900.
Liabilities in commercial failures for
the fiscal week of September wels "a.
095. 500, against SO, l57, ,751 last year.
81, ,5Ss, $50 in 1894, and $5,Sl9,09s IN
1898.
| The failures for the week have been
315 in the United States against lS7
last year, and A in Canada, against 81
last year.
| VUaHA