The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-11-21
DuN's COMMERCIAL REVIEW.
No Room Cor Doubt that n Brighter Day
Is Dawning-6reatest Change for the
Better Ever Known in n Single Week.

No Room Cor Doubt that n Brighter Day
Is Dawning-Greatest Change for the
Better Ever Known in a Single Week.
New YORK, Nov. AR q. Dun IL
Co., say to-day in their weekly review
of trade:
No one now doubts that a brighter
day is dawning, and tits common re-
mark hat never before has business
shown SO great a change for the better
within a single week.
Dispatches telling of about 500 works
which have opened or materially en-
larged their forces, give only a partial
report, for throughout the country the
gain has been surprising even to the
most hopeful. Foreign need of Amer
lean wheat continues an important fac
tor, and the price went to so cents,
gaining six cents for one week, ten
cents for two weeks, and % cents since
early in September. The price is the
highest since June, 1892. Western re-
ceipts were only 4,49t.033 bushels,
against S,202, s64 last year, but the
election cut off much work during the
days in which these receipts were
started TO market.
Many textile works have been started
or increased in force, many on orders
booked weeks ago. But there has not
been much increase in the demand.
After purchases of 46. 900, 600 pounds
of wool i'll five weeks, the transactions
fell to 6,243, 700 pounds last week; but
prices were strong and in some grades
one cent higher, and ven greater ad-
vance is demanded at the west, while
foreign markets are higher and
Australian fully one cent. per pound
up. The market for cotton goods Is
not yet active, but more liberal esti.
mates of the cotton crop are generally
credited causing an one-eighth cent
decline to this. The output of iron
furnaces in blast November was 124,.
or tons weekly, having increased
IL, 295 tons, or ten per Cont. in the lat
ter part of October by confidence in
the future.
All the markets were stronger, al.
though the enormous purchases OF
pig iron in advance of needs causes
comparative inactivity at present.
The billet pool is in protracted meet
ing here this week to decide upon its
course and is still undersold. The
beam, bar, rail and wire nail associa-
tions meet this week, and the under
selling of wire nails by outsiders has
gone SO far that a decline of As cents
Is openly quoted. 1t is noteworthy
that the prevailing expectation, not.
49,, I.t D., ,,lfnr fha aAl ~,
ment in business, is that some If not
all these combinations will decide tC
reduce prices. line coke combination,
it now appears, has not prevented
large contracts for future delivery 1T
less than two dollars, it's fixed price,
and even less than 81. IS, but the out.
put last week decreased. A heavy
sale of copper to foreigners, Said to
cover 10, 600, 900 pounds, has raised the
price to IL, and tin actually sells at
Is, though less is quoted.
The change in the money market Is
striking. Instead of s., 500, 900 going
out to the interior, as before, s., 800, O0C
have come in this week; instead of ST
cents discount, New York exchange
~ SAiANd6O ~ y ~ SSHSo
instead OF merchants and manufac-
turers vainly hunting lenders, banks
are hunting for more commercial
paper. Commercial rates are down
to live ercent. on best paper. Foreign
exchange is higher, owing to sales OF
81, O0O, 900 of government bonds taken
by the bank of England, as 4 member
of the syndicate, early in 1895; to pay
ments of e3, 900, 900 loans. and to for
eign realizing on S. 900, 900 of securi.
ties; but all these are, in effect, tax
ing profits for confidence in American
honor.
Failures for the week have been go
in the United States, against 253 last
year, and 46 in Canada, against 40 last
year.