The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-08-28
THE BOOM IN BUSINESS.
Another Cheering Report From the
It,. Commercial Agencies. .
uANY REASONS FOR CONFIDENCE.

business Gaining on All Sides With q
steadiness Which Is Most Crafty
fng-Reaction in Speculation Does
Not Aflect Industries.
New York, Aug. 2S.-R. G. Dun G.
Co.'S weekly review of trade says:
Speculative markets have their turns
of reaction. but business has none this
season, gaining with steadiness which
is most gratifying. The starting Of
works, increase in hands employed, ad-
vance in wages and in prices of pro-
ducts, and the heavy movement OF
crops are facts before which all specu-
lative influences have to bow. The
weeks dispatches mention 16 iron
works which have started, against one
closing; Is woolen works starting, and
SO on in many other branches, while
many more works have increased their
force and many are preparing to re-
sumo, and some have increased wages.
While these things continue - with
grain rising and going abroad In enor-
nous quantities-money markets have
reason for abounding confidence and
speculative markets for strength. Crop
prospects are contradictory, as usual
at such time. but 1t is noteworthy
that none of them indicate anything
less than an ample supply of the great
staples.
Wheat rose over cents Saturday,
with exaggerated reports of injury fell
nearly cents, advanced 4 cents, and
then declined sharply, closing cent
lower for the week. That some harm
was done to spring wheat in three
sta'ns appears but no accounts en-
titled to respect indicate damage re-
ducing the yield below $40 100000 bush
els, which would be 25,O00,0O0 larger
than any other crop except that Of 1891.
Receipts of corn bear strong testimony
to the seriousness of foreign needs,
being 6S4O,144 bushels for the week,
against 2S13619 last year, and At
lantic exports In four weeks have been
1O,46G.47S bushels, against 5,6l7,11O last
year. The price rose 1b cents for the
week.
Sympathy with other markets, rather
than reports of injury, which capable
authorities deem not important, ac-
counts for the advance of three-six-
teenths In cotton. But the mills are re-
suming work with rush. and will re-
quire heavy supplies of material to
meet the large demand for goods.
which has advanced the prices of many.
A general replenishment Of stocks by
dealers will call for heavy additional
supplies. The wool market also re-
fleets greater strength.
At last demand has so far overtaken
capacity of iron works that prices are
growing stronger, Bessemer and grey
forge 25 cents higher at Pittsburg. and
pig in eastern markets as much strong
err because rebates and concessions are
stopped. The advance in iron and steel
prices average 2.7 per cent for the week.
Bradstreets' review says: The gen
eral trade situation continues to I'M
prove, and aside from the unneces-
sarily prolonged strike OF the soft coal
miners there Is little in sight to cloud
the outlook. The feature of the week
is the advance in prices of almost all
leading staples. beginning with an up
ward movement all along the line in
iron anu Steel. fctStl uiS nov
ffroif Is up Is cents and foundry ike
amount, Southern irons are very
strong, on a continued active export
movement. Where wire mills nave not
advanced prices they have Withdrawn
quotations - 49,
, Bradstreets' points out that the
statistical position Of wheat is the
strongest known since the United
States became considerable exporter
and that its price, as well as that LOT
bread, is likely to materially exceed
the present weeks advances. FOLLOW
ing that for wheat prices are hlgher
for -four, corn, oats, lard, po-
tatoes. butter, eggs, beans, cheese
leaf tobacco, wool and live stock. Ad-
yances for leather, hides, lumber anu
linseed oil are also reported.
There are 21O business failures re-
ported throughout the United states
this week, against 221 last week, "-o
a wear ago, 1870 two years ago, W. three
wears ago and 369 in the corresponding
week in 1898.