The herald., 1897-09-18
Dun & Co.'s Review

Dun q Co.'s Review
NEW YORK, Sept 17.-R. G. Dun & Co.,
in it's weekly review of trade, will say in
its issue tomorrow:
The end of the bitumnous strike and
the return of many thousand men to work
at advanced wages adds to the purchasing
power of the people and the anthracite
strike affects not fifth as many workers
The starting of many mines and works,
enormous exports of wheat and corn, the
favorable news as to those crops and cot
ton; the fall In sterling exchange and the
report showing that gold imports began
in August. exceeded exports by 81. 800 5S7
while merchandise exports exceeded i'm
ports by 1853, 1853. have all contributed to
forward the improvement in business. The
replenishment of stocks cannot be half fin
ished. though some who could see no sign
of improvement few weeks ago are now
fnding it so vast and rapid that they fear
reaction. But consumers as we'll as sellers
have also to supply themselves after years
OF enforced economy and while their power
to purchase Is increasing every day and
their actual buying at retail reasons for
apprehension are not apparent. When the
tide changes after four years of depression
1t does not fall again after four weeks. The
wheat market has declined over cents on
account of crop reports which promise
larger prosperity, and corn and cotton are
both little lower for like reasons Yet
estimates Of the highest financial authori-
ties regarding requirements from this
country are not smaller, but larger than
before. while better prospects in Argen-
tina. Australia and India hold out no
promise of large European supplies or of
any until winter Is about over.
Exports of wheat, flour included are more
than double last years each week, and in
two weeks s,s2O313 bushels against ,1O7, ,721
last year, and of corn 7O79,3S3 bushels
against S,1s7,s26 last year.
From the Pacific coast wheat is also
moving largely. twenty-five cargoes from
San Francisco this month and over 54S, 9S5
bushels In seven days from Portland.
Corn declined over cents with the grow
ing belief that the yield will surpass esti-
mates.
The stock market had another of its reac-
tions on Monday, but on Tuesday was
higher than ever. The reactions thus far
have been significant. After the average of
sixty active stocks had risen 81 per share,
it fell S6 cents in two days of reaction in
June, and then rose again. After rising
So more 1t fell Is cents, August O. then rose
another dollar and had a serious reaction
of SO cents on the 18th, but was higher than
ever within week. August 24th and 25tn
it fell 25 cents, but 1t then rose SO more
september 18th Its reaction averaged 25
SCHts, duu IL las SlIlCe advanced yl.Uf.
The iron industry again shows increas-
ing demand and an average of prices nearly
per cent higher, due to purchasing by
consumers. Buying of 100000 tons Besse-
mer pig at Pittsburg has advanced the
price to $10 grey forge hard to find there
at $9.15 and billets sell at $780, with the
output increased to 122,431 tons weekly.
Connellsville coke advanced to s1.4O for
furnace.
Textile mills are more fully EMPLOYED
than at any other time for years, though
new buying has diminished in amount and
though while the number of orders re-
ceived is still large. the amount is smaller.
The demand is still very good for the sea-
son and prices are firm throughout, with
some further advances.
Actual buying of wool by mills is in
creasing at all markets. with the belief that
foreign supplies are short.
Failures for the week have been 2o4 in
the United States against S17 last year and
40 IN Canada against 80 last year.