The record-union., 1897-03-13
REVIEW OF TRADE.
THOUGH IMPROVEMENT COMES
RATHER SLOWLY,
The General Drift Shows That the
Wheels Started Are Giving EN-
ployment to Many.

NEW YORK, March 12-R. G. Dun
& Co.'S Weekly Review of Trade will
say tomorrow:
1t is a curious illustration of human
nature this continued encouragement
even while the increase of productive
industries and of legitimate business
steadily grows. No genuine or lasting
improvement could come otherwise
| than slowly, and steps by steps
after such depression as the past four
years have witnessed. and the most
hopeful feature of the situation is that
the gain is SO nearly devoid of ele-
ments which involve unsoundness and
probable reaction.
The first step toward prosperity is to
get the wheels started and the hands
employed, and the number of works
which have resumed increased forces
I during the past week seems greater
than in any other week since Novem-
Der. While the start has been in many
cases by contract at extremely low
prices, involving d reduction of wages,
the hands are earning more, even so,
and aid more the general recovery than
if not working at all, and thus far
important strikes have been avoided in
many cases, though some are still
threatened.
The money markets continued espe-
cially favorable to industrial recovery,
and there is no such speculative cpl
demic as to lick up an excessive share
of available capital.
The annual statement of wheat in
farmers hands since March 1st has
not in the least stimulated speculation.
Those commonly worthy of attention
indicate that farmers and commercial
supplies, which together aggregate 1876.
000,00 to 206,0O0, 900 bushels, exceed
the output and estimate of home de-
mand 100000 bushels to July LIST
by much more than the quantity like
~ to be wanted for export, in view
of the continued outgo of corn, amount
ing for the past two weeks to 1854, 1893
bushels, against 1871 ,475 last year.
Wheat exports from Atlantic ports
in two weeks have been 2,431 TAI BUSH
els, against 1921 ,297 bushels last year,
and although Western receipts are but
3,451, 1863 bushels for the two weeks,
against 4,5G7 ,392 bushels last year,
they are still so large for the season as
to discredit alarms about speedy eX-
haustion of the supply. The price has
declined 80 cents for the week, and
corn is also a fraction lower.
The speculation in wool continues,
and sales for the two weeks have been
II, 903 900 pounds, of which 9,211, 700
pounds were domestic whereas the
largest previous sales for the same pc
of which $4,000 We're domestic.
While there is much trade between
dealers, manufacturers show, by pur-
chasing far beyond their present wants,
the belief that larger business is COM
ing.
Iron furnaces March list were pro-
ducing 169, 9S6 tons weekly, 1927 tons.
or per cent, more than February 1st,
and although visible stocks have in
cleased 0,204 tons in four weeks, still
more furnaces have started this month.
The demand for finished products still
lags behind the supply of pig iron, ex-
cept in the great steel works, where
stocks are not reported, but their or
ders will cover full productions for
several months. Bessemer pig is a
shade lower, but no other change in
quotations appears, and there is a
gradual increase in the demand for
plates, sheets and all the wire family
products. With the advent of spring
weather and outdoor work, much more
business is expected. The starting of
the Maryland rail works under contract
with the Carnegie Company, in order
to make shipments by water more
cheaply, is significant.
Failures for the past week have been
2o6 in the United States, against 300
last year, and 60 in Canada, against 60
last year.