The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-10-11
NEUTRALITY-SUSPICIOUS.
Dun & Co Report Steady Gain
in Business.
BIG PAYMENTS THROUGH BANKS.

business Failures for the Quarter were the
smallest Ever Known Since IS02-Dis-
tribution of Wages Is Widening and the
Sountry's Productive Force Is Enlarging
Advance i'm the Price of wool-Crop
Estimates Agree-Iron situation.
New York, oct. l0.-R. G.. Dun & Co.'S
weekly review Of trade says: While the
failures were the smallest ever known
In any quarter since 1892, and business
payments through the banks the largest
by $26S, 100000 ever known in September.
the spectators, who profess anxiety
ABOUT Cuba, or fever at the south, or a
municipal election, still have some in
huenee. Helping them just now is the
fact that. after extraordinary purchases
FOR replenishment of stock from any Sec
ton or town, there must necessarily be
Tor time less buying from that quarter.
Yet business is still increasing. The
productive force steadily enlarges. the
distribution of wages affords an increas-
Ing fund for purchases, and the founda-
tons are laid for a larger business here
after. The weeks exchanges are S.s per
cent larger thar in 1892
Crop Estimates Agree.
Crop reporters. who have widely diff
fered, now agree in putting the yield of
wheat about 5SO,000,0O0 to $50. 600 GOO
bushels, which is nearly 200, 1000 900 BUSH
els more than will be required for home
use; keeping stocks as they were July
/, the lowest for seven years AS for
eign reports indicate q larger demand.
and export since July have been near
ly as heavy as in the best past year.
with 2,9S5,7S4 bushels from Atlantic
ports, included for the last week.
against 2,240,571 last year, the recovery
of liz cents in the price for the week is
not without reason. Western receipts
continue to exceed last years S,001, POI
bushels. against 7,34S969 for the week.
With less favorable reports of yield,
corn exports fall short slightly with
small difference in price. Cotton is un-
changed in price, with larger consuming
demand, though big crop estimates do
not appear to be disputed.
The Iron situation.
A large increase in the production Of
pig iron and heavy realizing sales of lots
held on speculation have caused a de-
cline of Is cents to $1,000 for Bessemer
has advanced 25 cents. and pig iron is
stronger at Chicago and eastern mar
kets. But finished products grow strong
er, with demand out-ruEning the ca
pacity of works in operation in many
branches. so that delays in delivery Of
sheets and tn-plate bars are embarrass-
ing, and in some other branches orders
cannot be filled within one or two
"a htti1 Of Il,
or the lakes and seacoast heavy orders
for sheets, bars, rods. and pipe have
caused advances averaging half Of per
cent. for the week on all classes, but the
general gain is yet not quite 10 per cent.
from the lowest point. Reports Of COM
bination in steel rails are denied. and il
is said that only three large producers
will agree on prices, while the rod and
wire compact appears to be still in the
future.
Wool Prices Advance.
Wool has overreached ar average of
2O.37 cents per pound, for 100 quotations
of domestic by Coates Bros, Philadel-
phia. showing a rise of s cents since a
year ago, with a much heavier rise on
some qualities but following an average
decline of IL cents from March, 1898.
Speculative sales still account for most
of the aggregate which has been A.
334, 900 pounds for the w Elk. Of which
1855, $50 were domestic, but manufact-
urers are purchasing some wool for mix
ture with the cheaper wool held for some
months past. The rise has so greatly
exceeded the advance in price Of wooden
goods that the mills might have to
pause but for the very large stocks pur-
chased In advance. Goods are strong.
with a further advance in some grades.
but in the aggregate thus far not 20
per cent. from the lowest point, against
GO per cent. advance in the average price