The record-union., 1897-03-27
REVIEW OF TRADE.
THERE WERE MANY SURPRISES
THE PAST WEEK.
Yet the Market as Whole Seems to
Have Suffered But Little From
Any of Them.

NEW YORK, March 26-R. G. Dun
& Co.'S weekly Review of Trade" to-
morrow will say:
Rarely have markets sustained such
surprises as they have received of late,
with so little loss. Foreign conditions
and London alarms, the collapse OF the
iron ore combination, the destructive
floods in the Mississippi Valley and the
decision of the Supreme Court against
railway associations have been used to
the utmost, but not even in railroads
has the result been important. Were
all association of railroads to cease, 1t
would yet be in the power of capital
controlling important lines to stop serl-
Gus rate cutting if it chose. With con-
fidence that better times and larger
business are coming, men are less dis
posed every day to throw away good
investments, and the very fact that
prices of products are low is regarded
as a guarantee against much further
decline In all industrials, also, the
number Of mills and shops and hands
at work gradually increases.
The grain markets have lost without
reason the gain they made the previous
week. Wheat supplies are running out,
but nobody believes that there is COM
ing a famine before June, when the
harvesting of Southern wheat will be-
gin. Western receipts were over a
third smaller than last year, and for
four weeks have been 7,611 ,440 bushels
against II ,SS4, POS last year. but the
better prospect for the crop of winter
wheat has more weight Atlantic ex
ports, flour included, were nearly as
large for the week as last year, and for
four weeks have been 5000, ,12S bushels,
against $500, ,220 last year. But corn
exports have been II, 763, 574 bushels,
against 4,911 600 last year. When
Europe buys in corn the equivalent of
100000 bushels of wheat at less than
90 cents, the price of wheat is not
easily advanced above so cents.
The final dissolution of the lake iron
ore pool has been expected ever since
the Carnegie-Rockefelle deal, and in
sures low prices for ore the coming
year, though perhaps not lower than
In 1895. Mesaba facilities for produc-
ton have vastly increased, and all the
great steel-making concerns have Sc
cured mines of their own, while means
of transportation have greatly en-
hesitation about various products
should diminish. The demand is stead
lily increasing. Bars are still demoral-
lied and at the lowest point, but for
plates, sheets, wire rods and wire nails
the demand is growing larger. The de-
mand for rails continues strong enough
to hold prices, although some from
speculative purchases are offered below
the present prices of mills
Tin is a shade lower with larger ar.
rivals, though the distribution has been
considerable, and lead is decidedly
stronger at 3.47 cents, but copper is
weak at 11.75 cents. Increases in coke
productions appear, and more is as
sured by the purchase of works by the
Cambria Company, and while quota
tions are unchanged, outsiders are
Offering furnace at 81 20 per ton.
Speculation in wool has recorded
larger sales for four weeks than ever
before, 46,605,300 pounds, against d.
9S4,3l6 in the same weeks of 1892
Much more than half is for specula-
ton. Nothing like the full capacity of
mills is employed. The wool market
is steadily increasing, but cautiously,
as it is too early to anticipate results
from changes which may be made in
duties.
Failures for the week have been 291
in the United States, against 279 last
year, AMI 90 in Canada, against 80 last
year.