The morning news., 1897-07-17
BUSINESS OUTLOOK BRIGHT.
NO CLOUD ON THE HORIZON or THE
IMMEDIATE FUTURE.

IMMEDIATE FUTURE.
Crop Prospects Improved by Needed
Rains and Foreign Countries
Looked Upon As Forced by Their
Necessities TO Become Heavy buy
ers-MOrc Activity Noticeable N
Building Thnn In Any Year since
1S92-The Trend of Prices IpNard.
New York, July 16.-R. G. Dun & Co. s
weekly review Of trade tomorrow will say:
Excepting the great miners coal strike
which may terminate at any time. there is
scarcely a feature of the business outlook
which is not encouraging, the season con-
sidered. Crop prospects nave been i'm
proved by needed rain in some regions, and
foreign advices continue TO promise
large demand. In many home Industries,
particularly in building, there is more ac-
tivity than in any year since 1892. and the
week has brought a better demand in boots
and shoes and in wUo,ens, while the move
ment Of freight, mainly iron ore, through
the Sault Ste Marie canal is the largest in
its history With money markets includ-
ed, ther Is nothing in sight to hinder rapid
improvement when uncertainty about leg
islation has been removed. for the miners
strike could not last long if business and
Industries should become active. There is
much less apprehension of a failure Of
fue. supply than there was during the FIRST
few days, when prices rapidly advanced.
Large quantities of coal from West Nir-
ginia have reached northern markets, but
some Of the miners in that state have
struck.
''The advance in wheat to SIS cents
was not due to the government estimate,
which was followed by a decline, but to
foreign adVices and considerable buying
for export Damage is already reported
from Australia, South Africa, Brazil and
even Argentine, while the promise for
European crops is not considered bright
The disposition of the farmers to keep
back wheat for higher prices may effect
the outward movement, but Atlantic eX-
ports during July flour included. have
been 3. .1l54 443 bushels, against 2,95867 last
year, although in the same weeks 4659,-
3i5 bushels of corn went out, against l5l4,-
072 last year Wheat closed 4 cents and
corn u cent higher for the week.
Cotton is a sixteenth higher the clos
ing OF partial stOppage of important New
England mills hardly neutrahZing the re-
ports of injury from drought The cotton
goods market does not reduce large ac-
cumulated stocks, as the curtaiiment of
production SHOWS. but is growing a little
more healthy without change in prices.
"Woolens for the coming season have
not been generally shown, though on some
lOw-priced goods advances OF ~ per cent.
are asked. and presumably will be asked
on better grades. There is rather more
business in recorders. The wool market
continues good with prices stronger at
all points, at Boston advancing signs Of
a boom among dealers, in which manu-
facturers are taking little part at current
prices and az the west where holders are
looking for a great advance The i'm
ports at Boston were 2S, 1862 bales in two
weeks, and dealers are said TO have bought
100000 bales more in London. Sales We're
10. 452. 800 pounds at the three markets for
the week, and 24572,So0 in two weeks, OF
which l2,e07, 200 were domestic.
THE output of iron furnaces July l, was
16l, o6l tons weekly against l6S. $50, June l,
but several furnaces have gone into blast
since July ]. and the output is large for
the season. Presumably an unprecedented
share of IL is to supply the great steel
companies, which are even now putting
more furnaces into blast, and have heavy
orders taken when prices were dropped,
while the demand for structural shapes
and plates is large. and for bars improv-
ing, though steel bars are now at the low
est quotation ever known In Pittsburg,
STA 10 90 cents, with Bessemer pig quoted
slightly lower. Tin plates are also lower
at $40 for full weight. and less than $3 Is
paid for 100 pound boxes.
Failures for the week have been 263
in the United States against 269 last year,
and q In Canada, against 80 last year"