The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-03-08
THE BUSINESS WORLD
More Hopeful Feeling Noticeable
in Trade Circles.
WEEKS FAVORABLE FEATURES.

They Are To BE Found i'm Higher Prices
for Wheat, Corn, Pork, Lard and steel
Billets - Confidence Expressed In an
Early Advance I'm Tin, Shoes and Leath her
-McKinley's Reference to Trusts Causes
Apprehension In Wall street.
New York. March s.-Bradstreet' s
says: The new administration the GER
tainty of an extra session of congress
within fortnight, and the promise of
a new tariff at an early day which
shall provide adequate revenue and
protection have done much to stimulate
a better feeling in trade circles and in
crease confidence in the near approach
of an Improvement in business. Favor
able features are found in higher prices
for wheat, Indian corn, pork, lard and
spirits of terpentine, as well as for steel
billets. Steel mills are fairly well filled
with orders, and in some lines are in
clined to advance prices. Recent low
quotations for various forms of iron
and steel have been withdrawn, notably
for wire and structural material. Con-
fidence Is expressed in an early advance
for tin and for shoes and leather, based
on the activity in hides. Quotations
are firm and unchanged during the
week for lumber, wool. print cloths,
resin, petroleum, coffee, steel rails and
Bessemer pig iron, but there have been
decreases for wheat, -four. oats, sugar
and cotton. General trade has been in
terfered with by rain, high water in
the Ohio valley, and snow in the north
western spring wheat states. South At
lantic and Gulf state cities have had
some better weather. with the merchan-
disc movement equal to expectations.
Export of Wheat and Flour,
Exports of wheat (fiour included as
wheat) from both coasts of the United
States this week amount to 2,075, ABS
bushels, compared with 1,372, 900 bushels
last week, 2. l07, 900 bushels in the week
a year ago, 3272. 900 bushels in the week
two years ago, 2.s51, 900 bushels three
years ago, and as compared with 1884,
900 bushels in the like week of 1898. Elk
ports of Indian corn continue heavy.
amounting to 5,256. 785 bushels this week.
compared with 4.744.000 bushels last
week. 2,775, 900 bushels in the week q
year ago. 49S.000 bushels In the like
week Of 1895. 947,000 bushels In 1894,
and as compared with 679,00 bushels
In the corresponding week Of 1893. There
are 262 business failures throughout the
United States this week. compared with
268 last week, 80 in the week q year
ago, 252 In the week two years ago. and
smaller totals in like weeks in two pre-
ceding years. This marks return of
the ratio Of business failures to the to-
tai number In business more nearly to
the normal.
There are fifty-one failures reported
from the Canadian dominion this week.
against fifty last week, sixty-six In the
week a year ago, and fifty-three two
years ago.
Active Trading in Stocks.
In reviewing the week In Wall street
Bradstreet's says: Greater activity has
been displayed in the Stock Exchange
trading this week. and though the
transactions have continued to be main
ly. IL not entirely, professional, there
was some evidence of broadening out
of the market. This was particularly
true Of the Vanderbilt shares, which
were all favorably influenced by the
announcement concerning the refund
ing of the Lake Shore roads 7 per cent.
DOH0 lSSucS. WnctHtT, DIS Tile SITtet
chose to assume, there is any ground
for supposing that members of the Van
derbilt party are supporting their Sc
curities or taking an active specula-
tive interest Is immaterial 1t would
seem that conservative people have
become renewed purchasers Of that
group of stock, and the influence was
felt agreeably throughout the list, and
sv,1 1A,r III .l~0 A-sxx n
not a little buying by traders for long
account. This movement was particu-
iarly noticeable on Wednesday. and on
Thursday there was a general irregu-
lar appearance.
Took an Unfavorable View.
There was at first a disposition to
wait for the new presidential address.
When that document was published,
however, the street" at once took an
unfavorable view of the paragraph In
which President Mckinley refers to
trusts and combinations. Up to that
time the Industrial group had been
comparatively neglected, although
sympathizing with the higher tenden-
cies Of their stock list. Under the infiu-
ence in question sugar and others of
the same class were attacked by the
bears and led the way In q sharp re-
dictionary movement. the professional
traders promptly liquidating a portion
Of their recent purchases. On Friday
the market was strong till checked by
renewed foreign selling and profession
al bearishness. based on the threaten
ing aspect of eastern politics. The an
thracite coal group was heavy through
out, Jersey Central being unfavorably
affected by the publication Of the fig
ures relating to last years operations
of it's principal subsidiary coal organi-
cation, the Lehigh and Wilkesbarre
Coal company.