The morning times., 1897-02-13
DUN ON TRADE,
Story of Dull Week in the Com
mercial World

New York, Feb. 12-R G. Dun Co. will
say IN their weekly review OF trade to-
morrow:
No other event of the week approaches
in Importance the disruption Of the steel
rail pool In two days, after it, a greater
tonnage of rails was probably purcl aSed
than the entire production last year, re-
ported as 500, 900 tons; and, instead of S2S
in December and S25 in January, SIT is
now the price at which works Eastand West
are seeking orders, the Carnegie Company
even selling at S17. Chicago delivery. The
sales will employ many thousand hands,
with an important increase in the Cost or
track laying or renewals to railroads. Even
more important is the result that recon
struction OF the billet pool will be impos-
sible as long as the contest over rails con
tinues and the manufacture of structural
forms, bars, rods, wire, nails. tin plates
and many other products has a chance to
secure cheap material. In the near future,
also, is the struggle between the two great
companies, producing Mesaba iron ore, one
allied with the Illinois Steel and the other
with the Carnegie Company, which is ex-
pectcd to bring about lower prices for ore
and to push many mines to their utmost
V
wages are already reduced by some large
concerns.
Another event of influence is the purchase
of 10000 pieces of print cloth by Mr..
NJ. C. D. Borden, at 2 So cents, which has
already caused an advance to 269 cents,
with stronger tone The moral Influence
of such purchase, manifesting confidence
in the future, is apt to be great. AS the
contract to shut down part time many
mills producing print cloths is going into
effect, the productive capacity and wages
of operatives will be for time reduced,
but if demand of traders to repieniSh
stock is started the effect may be alto
gether beneficial The wooden industry
also means an increased demand for new
and medium goods and dozen more mills
have started against three stopping for
various reasons Speculation in products
has hardly been more active than of late,
and prices generally tend downward.
Wheat rose cent to Tuesday, but has
since declined . SIC. Western receipts are
increasing, but for two weeks have been
only 3,191,395 against 5,S23,213 last
year, while Atlantic exports, flour in
cluded, have been for the week about a
quarter larger than last year, and for two
weeks 3,S55,O96 bushels, against 3,63S,
125 last year
About every week some new speculative
guess by somebody impresses many ira
ders more than the current records of
actual movements. The cotton market
has been depressed in like manner by
Mr. Ellisons estimate that the American
crop would prove S,e50.000 bales, but the
quantity coming into sight has also sur
passed previous guesses and indicates a
larger crop than most spectators eSti-
mate The curtailment of consumption in
the mills is not guess, although some
overestimate it since probably lot more
than q fifth of the spindles will be
stopped third of each week for a
quarter of the year. The price declined
only an eighth for spot, but over quarter
for the May option.
The money market continues easy with
money accommodating here rapidly.
Rates are not materially changed but
commercial offerings are unusually light
Failures for the past week have been
267 in the United States, against 321
last year; and 81 in Canada, against
67 last year.