The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-11-07
REVOLUTION in
TRADE EFFECTED
Rosy View of the Business Situation
by Dun & Company.
GOOD TIMES ARE SURELY HERE
A Crushing Weight Has Been Lifted
and Rolled Away From the Busi'
ness WOrld..The Collapse Of the
Interest Rate and the Unloading Of
Millions Of HOarded Gold Are Fav.
Orable lndi icatiOns.

New York. Nov. 6.-R G. Dunn &
Co. will say tomorrow in their weekly
review of trade:
A great revolution has been effected
this week i'm the conditions which con-
troll business. 1t could not be in any
fnir degree reflected as yet in transac-
tions or In records, but there Is ample
evidence already that a crushing
weight has been lifted and rolled away.
and the business world has begun to
adjust itself to state of freedom and
security which it has not known for
years. Dread of immeasurable disaster
no longer locks w resources and par
alyses enterprise. and new contracts
involving many millions have become
binding since the election. The rush
for stocks on Wednesday lifted the
average for all railways SIG per shar
in single day, and trust stocks $l.54
and in many of the most active the
advance was so sudden that heavy
sales for realizing caused some reac-
tion. The wild advance of over cents
in wheat on Monday and Wednesday
was also followed by realizing and
decline on Thursday, but the instant
vanishing for premium on gold, which
had reached about . per cent, the un-
locking of many millions which had
been boarded, the collapse of the inter-
est rate from s to u to 6 and 5la per
cent. and the quick demand for Ameri-
can securities on foreign account are
signs of more lasting promise. The lift
ing of the load of peril and of fear
all men know, means an incalculable
relief for all industry-0nd trade.
1t was not strictly logical that wheat
advanced cents and heavy realizing
of profits showed perception of the fact.
Western receipts were only 6,OS7, ,l59
bushels, against S,0l9,91O last year, and
Atlantic exports. flour included. were
only 1,5SS,S5S, against 1880, 1888 last year
A growing disposition appears among
farmers to hold wheat for better prices
than are now realized, although at pres
ent any advance checks buying for ex-
port Speculation in cotton was also
excited. on the theory that mills would
now start up, as many have done, and
would meet a large demand for goods
But the advance was met by realizing
sales and a slight reaction. 1t will be
all the better for business If bright
hopes do not hoist prices too fast.
BOOM IN PIG IRON.
The election Immediately stiffened
prices of pig iron, which reached $12 at
Pittsburg for bessemer, and the GER
tainty that many large orders for the
buildings and bridges and other finished
forms would now become operative JUS
tifies some advance. The future of this
trade now depends upon the extent Of
increase in demand for finished pro-
ducts of iron and steel, which Is likely
to be materially affected by the course
pursued by various combinations The
billet pool, which is still openly under
sold at Pittsburg, and has caused no
end of disturbance in business by ia
Voring one class of producers to the det-
riment Of another, has been in session
here, and IL said to have changed its
bass of allotment so as to secure fairer
results. The nail combination is now
threatened with hostile league of job
hers and producers, and Is openly un-
del sold. The bar combination not
Withstanding its large rebate, is still
demanding more than the prices at
which steel bars are sold In great uuan-
tity. slight advance In sheetings and
pint cloths Is the only change which
Yet appears in the market for cotton
goods, and practically no change has vet
appeared In woolens. Failures for the
week have been 230 in the United States
against 2SO last year and so in Canada
against 40 last year.