The star. (Reynoldsville, Pa.) 1892-1946, 1897-02-24
FINANCIAL and COMMERCIAL REVIEW
A HOPEFUL WEEK IN TRADE.
Large Increase Of the Iron and Steel Busi-
ness q Feature.

II. q. Dun h Co.'S weekly review OF trade
says; large increase in the iron and steel
business on account OF sales covering eight
TO twelve months production of the largest
works; a better demand for wooden goods
and slightly better for cottons. a gain which
may better prices In boots and shoes, slightly
better prices for wheat, cotton, wool and
iron, and money market well adapted TO
encourage liberal purchases against future
Improvement In business, have rendered the
past week more hopeful than any other since
early In November. There are also many
elements that have their favorable influence
upon the money market, ond upon future un-
dertakings.
In nearly every branch the great iron and
steel industry feels the upward impulse sup
piled by purchases Of steel rails said to be
half million tons each from the Illinois
steel company and from the Carnegie COM
pany, besides some from other mpanies, In
part as low as els per ton. about 100000 tons
to foreign purchasers at S17m1S but all re-
cent sales Mt 800 at eastern and S21 Mt
western mills Nearly all the great railroads
have seized the opportunity to supply them
selves with rails for one or two years re-
quirements.
These enormous orders have advanced
Bessemer pig at Pittsburg only 10 cents per
ton with grey forge shade lower. and no
considerable change appears In finished
products, although plates are unchanged in
price with good demand, and mills are
held at recent prices. The bar association
no longer controls anything.
Other industries are gaining also, though
less conspicuously. The recent decline and
subsequent rise In raw cotton have not ma
terially affected the manufacture The sales
OF wool have sharply declined, amounting to
81, 400 800 pounds for the week, against So
loo, 800 for the previous week. The demand
for wooden goods does not seem to have ex-
panded materially. The Atlantic exports OF
wheat, flour included, were only ,235. .275
bushels for the week, against 1,Sl0, 30i BUSH
els last year, but for three weeks have been
5,096,471 bushels, against SASS bushels
last year. The western receipts for the week
We're 1,507,s45 bushels, against S3,il5,55s
bushels last year. Meanwhile the western
receipts for corn have been well nigh double
last years, and for three weeks the Atlantic
exports have been 6,3i7.2i4 bushels, against
1924, ,s99 bushels last year.
Failure for the past week have been 303 In
the United States, against $50 last year, and
SO in Canada, against 66 last year.
| "Bradstrcet's Financial Review" SAYS:
The action OF the European powers In inter-
yening In Crete relieved the panicy feeling
that was shown In the continental markets
las. week. The situation continues, how
ever. so strained that there has been no re-
viva of speculative activity in foreign mark
cts. Our own market was helped by these
occurrences The old chief bearish factor,
the investigation Of the industrial companies
by a New York legislative committee, has
created to have much weight with the
street.
The week has been dull one throughout,
AZ given up almost entirely to maneuvering
/ ' board room traders.
Railroad earnings were irregular though
no very unfavornble exhibitions appeared,
and the granger stocks acted steadily.