The copper country evening news., 1897-12-13

"""os continue Heavy and Causes |
foreign Exchange to Faii-Increase in
""e demand for Iron Products-C Cotton "a |
'"'eenth stronger-Improved Demand
Tor Wooien Goods--week's Failures.
New York, Dec. 13.-R. G. Dun &
CO.'S Weekly Review of Trade says:
me opening of congress, with the an
huai message and reports, has not dis
couraged business as some predicted,
out all speculative markets are strong
er than week ago. The productive
Industries even in the season usually
spout the dullest of the year as to new
orders meet a definite Improvement in
demand for import products, presuma-
piy the fruit of a prevailing conviction
that new business will begin to crowd
the works after the new year starts
Inc outward movement of wheat and
other products continues so heavy
that foreign exchange has fallen three
| quarters of cent, and instead of ex-
ports of gold. which have marked De-
cember in recent years. imports would
come if gold were wanted.
Increased Earnings of Railways.
Securities are advancing with reason
In the increased earnings of railways,
| $47,0S5,S0l for November on reporting
roads in the United States, 1858 per cent
larger than last year and SO per cent
| larger than in 1892. A strict comparison
| for the last three months earnings have
been greater than in any previous
| year, with larger increase in Novem-
Der than in October or September. The
sudden rise in December wheat at Chi
cago to $1.09 would do harm were it
not based on avowed contracts to ship
some millions Of bushels to Europe.
That fact and the continued foreign de-
mand in spite of such contracts have
helped rise of 11a cents here. West
ern receipts for the week, 5,79S,7 III bush
els, against 3,691,3 bushels last year,
| and Atlantic exports, including -four.
4,312,1S7 bushels, against 2,975,651 last
| year, and so great is the foreign short
age that the outgo of corn last year, far
greater than ever before, is again eX
ceeded 3,313,0S6 bushels for the week,
against 3,055,7S0 a year ago, with the
price nearly cent higher for the week
The report that western supplies are
running low is discredited by receipts
| from farms.
Cotton Is Stronger.
Cotton is sixteenth stronger, in spite
of estimates, ranging from 100000 to
II. .000 900 bales, by we'll known authori-
ties. A strike in English mills is no
longer threatened, and the possibility of
one at Fall River has little weight.
The demand for wooden goods has clear
l IaC a,,g
been purchased abroad, and is being
imported. the sales in domestic mar
kets having been for the past week on
ly 2,660,000 pounds, at Boston, and in
two weeks 1105040 pounds at the
three markets. While some grades
have been sold largely at prices lower
than a month ago, quotations are gen.
orally maintained. There is more de-
mand for iron and steel products In
| preparation for railway work, bridges
and buildings next year and on con-
tracts for export, including one of a
government bridge in Holland, and 9th
ers for bridges in Japan, with large
shipments of various products to Eng
land and other countries. Foreign con
tracts for 10000 tons of rails are pend
ing. In and about New York bridge
and building contracts call for 25,OO'
tons, and Chicago works are figuring
on numerous contracts for 5000 railway
cars.
Will strengthen Prices.
The formation of the American Stee
and Wire company is expected t.
strengthen prices and causes some buy
ing. While Bessemer at $40 and gre!
forge at 1915 are sligtly lower at Pitts
burg. prices are stronger at Chicago
and in all quarters heavy business i
. expected after the new year A sale o
lake copper, said to be 10,OOO,OOO pound
at II cents so strengthens the deman'
, that S1O.S7 is bid, but tin and lead ar
very dull. and spelter shade lower
= while future contracts for tin plate
have been made at $3.50 per 100 pounds
Connellsville coke production is 151, 10
tons weekly, against $4,000 in Novem
her. and no advance is now expecte
+ above 81. so for furnace coke early mex
I wear. Anthracite coal is weaker an
! sells here at 1915 to $3.S5 for stove
Failures in the first week of Decembe
) were but $7,G17, 7,240-manufacturing 1888,
A 400 and trading S1,791,57O. Failures 70
B., the week have been S12 in the Unite
States. against $50 last year, and 20 !
a.f