The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-09-08
OUTLOOK IS BETTER.
Increase in Confidence Among
Business Men.
AN END TO THE MONEY ANXIETY.

Due Largely TO the Continuing and Heavy
Imports OF Gold from Europe bottom
Prices Rsschsd In Iron and steel Prod
ucts. and They Have Started Up . shade
Another Advance in the Price Of
whest-Business Failures.
New York. Sept. 7.-R. q. Dun q
Co. In their weekly review OF trade
says: There Is q distinct increase In
confidence. due largely to the continu-
Ing and heavy imports of gold. which
have put an end to money anxiety.
and also to political events. which are
yet start more mills and factories than
are closing for want OF work. 1t crops
out In heavy speculative purchases Of
pig iron. wool and some other materials
by experience man. who believe that
a revival Of business Is not far on. and
for the first time In nearly two months
a slight upward turn appears in prices
Of manufactured products. The gain
In confidence and In willingness to
lend and invest gives reason for the hope
that the necessary replenishment of
stocks. which cannot be long deferred.
may be liberal enough to stimulate fair
activity In trade and industry.
Another Advance In Wheat.
Wheat had suddenly risen a week
ago. but reacted with better crop news
until Thursday. when another advance
came of cent, making the net decline
for the week SIS cents. Western re-
ceipts continued large-5,2 15, 706 bushels
for the week, against $3.50, los bushels
last year. making the increase since
July / about $4,000. 900 bushels, or IL
per cent. Atlantic exports are also
large-four included 2.032. 1853 bushels.
against 1,347, 1852 last year, and since
July 1s.073. SOL bushels, against H.
315. 645 last year. a gain OF 50 per cent.
Gloomy stories found little support In
such returns. Corn has reached at
Chicago the lowest point ever touched,
20 cents in 1861, and has again broken
all records here, declining to % 5-S
cents. at which II closed. Cotton fell
to 1857 cents. but. with revival OF conf
dence. rose to $50 cents. although the
prospect Is clearly more favorable than
some weeks ago.
Iron and Steel Prices Change.
After many weeks of decline so that
the average prices for iron and its prod
ucts was the lowest since early last
year, prices have started up q shade.
Heavy speculative purchases Of Besse-
mer at the west and of southern iron
here, the latter mainly by New York.
ers, at $40 for No. 2 and $3.50 for gray
forge, have so strengthened the mar
ket that Bessemer at Pittsburg COM
mands SLIPS and gray forge $3.50. The
various associations have not reduced
prices. believing that 1t would not slim
ulate demand at present, which Is ex-
tremely narrow and as yet shows no
improvement. But the first step in that
direction Is taken when men believe
that the bottom has been touched.
Coke ovens operating are only 7.425.
against 1882 idle. with q smaller out
put than for years, but no change is
made I'm prices. Tin is weaker at 1915
cents for September. Bids at 1887
cents are solicited for lake copper. while
lead Is a shade flrmer at 2.72h cents.
Belief That Prices Will Improve.
The starting of some wooden mills.
which have been idle and accommodating
orders for a short run, Is still balanced
by stopping Of others, and the volume
of orders does not increase. No gain as
yet appears in demand or prices, but
a marked speculative buying of wool
shows belief that prices will improve,
and sales for the week were 4.377.000
pounds. of which only SIS, 700 pounds
were foreign. much over half Of the do
nestle sales being of Texas and far
western states at prices ranging from
Z to Sh cents. Cotton goods are grow
ing stronger. more grades having ad-
vanced, and though sales are moder-
ate. there are more buyers. indicating
exhaustion of dealers stocks. Fall
ures for the week have been 1874 In the
United States. against 1876 last year.
and thirty-one in Canada, against
thirty EIGHT last year.