The herald., 1896-12-19
As Seen and Reported by Expert
Observers
THE HOLIDAY TRADE IS GOOD
But Other Lines Still Wait for Improve
fnent
The Carnegie Operations in Iron VIII
Affect All Combinations Inter-
ested. From Ore to Finished
Associated Press Special Wire

|
NEW YORK, Dec. 1S.-R. G. Dun q
Co.'S weekly review of trade tomorrow
will say: Cuban reports, unusual close
ness of money in Germany and the de-
cision that there will be no action In the
| tariff at this session have not really
| changed the situation, but have been
| talked about as if they might change it.
| A sudden demand for gold from Ger
many just before the close of the year is
| not unusual. nor does 1t count for much.
| No facts, but only desires or fears, have
| led some to look for change OF tariff
| before March, and considerable specula-
| ton based on that idea has been arrest
| ed. but other business waits for the
! gradual Improvement of the consuming
demand
| The holiday trade is generally large
| though at some points more confined to
cheap goods than usual. and the influence
of an increase in the working force is
| felt in other ways. But until the new
year the only material changes expect
ed are such as prepare for large hnsi-
| ness next year.
| Speculation in wool has halted, sales
| for the week being 3.721 200 pounds,
| against 5,lS0,000 pounds last year, and
| 1851. 400 in 1892. and concessions are more
| frequent, Ohio selling at IL cents, against
| 20 cents recently. The demand for goods
seems to have been postponed until after
| the holidays.
| The control of the Mountain Mesaba
| iron mine has been leased for fifty years
| or purchased by the Carnegie inter-
ests from J. D. Rockefeller. This, with
the erection of sixteen new open hearth
| furnaces. making SO. insures enormous
| increase of product at extreme low cost
and will affect all combinations in steel
products or in ore. The billet pool has
practically dissolved. and sales are re-
ported at SIS to $11, with contracts to
supply consumers throughout most or
| the whole of next year. The beam pool
| has revived and restored the price to
| 81. SIS, but nails and steel bars are shade
| lower. The raj. association has been in
| session and our Philadelphia dispatch
states that rails are sold at 25 against
| 2S. so long, maintained. Bessemer pig
| and grey forge are lower at Pittsburg:
| Alabama iron is 25 cents lower at the east
and with so much uncertainty regarding
great changes in progress, very little is
| done in finished products and generally
| at concessions A sale of 900 pounds
| Of lake copper is reported at 111a cents.
| The coke production Is increasing. with
| contracts recommended at 510 Wheat
rose about two cents Monday but de-
| clined still further and closed one-hah
| cent lower for the week. The receipts
| in two weeks have been 6.525.3S2 BUSH
| els against II, ,600.577 last year and At
| lantic exports for three weeks have been
| with flour included 6,921,144 bushels
against 5.9O7,S25 last year. November
! exports, flour included. were 15,S35,135
bushels, against 1888. .140 last year, of
| which Pacific coast were 5.S1S. l49,
against 4,4O5, 3O1 last year. For three
months exports of cotton and bread
stuffs only have about equaled the to-
| tai value of all imports.
| Failures for the week have been 36I
in the United States, against 377 last
year. and Al in Canada, against 32 last
year.
| BRADSTREETS REPORT.
Bradstreets will say: Wholesale trade
continues Of smaller volume than ex-
| pected, practically the only activity IN
| the wholesale lines being in groceries,
| candies. fruits and nuts. The weather
| interfered with seasonable business,
which at many centers is smaller than
| in nreceding wears, in that larger pro-
| portion of purchases are OF a cheaper
| grade of goods. The downward tenden-
cy of prices pointed out fortnight ago
| is continued This includes quotations
for hides, which caused boot and-shoe
jobbers to restrict purchases, anticipat-
ing cuts in prices for shoes; steel rails,
steel billets and Besemer pig iron are
in the same list Cotton, too, is lower
on confidence of larger crop than ex-
pected; print cloths, as the product OF
that staple, and because of the large
| stock of the same; anthracite COAL Indi-
an corn, oats and petroleum. Steady or
practically unchanged quotations are re-
ported for pork, lard, coffee and sugar.
| Wheat and resin are higher. Exports
of wheat, flour included as wheat, from
both coasts of the United States this
week amount to 1924 1868 bushels, as COM
pared with APPS, 900 bushels last week;
2O56, 900 bushels in the week year ago,
2,554 900 bushels in the week two years
ago; 2.O65,0OO bushels three years ago.
and as contrasted with 4,247,000 bushels
in the like week of 1892. Exports of In
dian corn from both coasts continued
heavy. aggregating 2,614,00o bushels. as
compared with 3.541 900 bushels last
week; 2,O57 900 bushels in the week a
year ago. and an average of about 6OO.-
900 bushels each in the corresponding
weeks in three preceding years.
There were $3.50 business failures re-
ported throughout the United States
this week, % fewer than last week, and
26 less than in the corresponding week
one year ago; as compared with the
like week in 1894, this weeks total shows
gain of 50 and with the corresponding
week in 1893 the gain is 6. In the third
week of December, 1892, there were 81
fewer failures than this week.
/ There are 80 business failures reported
from Canada this week, compared with
: AZ last week and AZ in the week a yeal
= ago
NEW YORK, Dec. l8.-Bradstreet's
t review of the stock market tomorrow
will say: Shortly after noon on Friday
the market received a shock from the