The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-05-24
TRADE IS AW AKENING.
Unmistakable Evidence of New
Life Is Perceived.
WEEKLY REVIEW OF r. G. DUN & co

Demand for the Products Of Manufacture
Is Growing and the Movement of Grain
is Heavier-Increase of Loans Proves
That New Business Is Larger Decrease
I'm the Sales of wool-Failures for "a
Week.
New York, May 24-R. G. Dun &
Co.'S weekly review Of trade says: I'M
mistakable evidences Of Improvement
come in the general increase Of COM
mercial loans, mostly for eastern mer-
chants or companies, though some we'll
known houses in the middle west ap-
pear with considerable rediscounts
from the south. Not for along time have
commercial loans been fully half the
whole. The distinct charge gives proof
that new business has been larger than
many have supposed. The receipts OF
money from the interior exceed ship
ments 81, 500, OOO mostly from the middle
west. The exports of gold have no in
fiuence and only signify the willingness
of Russia to pay price for the gold
needed. The excess of merchandise inn
ports to answer demands for half a
year to come involves greater excess
of exports when the anticipatory move
ments end and crops begin to move,
which fact renders large outgoes of gold
less likely and gives the country
stronger position in international mar
kets. Meanwhile there is a distinct in
crease. distinct though gradual, in the
volume of business in demand for prod
% ttfo and Ci6ari no
the time of year, in the movement Of
grain and produce.
The Grain situation.
The western wheat receipts exceed
last years for the week. being 1884 lS9
bushels against 173S, 1856, and Atlantic
exports were 1,670,S13 bushels, flour in
cluded, against 1902, ,491 last year. and
for three weeks ATS, 722 bushels against
3,3S5,910 last year The western re-
ceipts Of corn were 1,655677 bushels,
against 1,495,670, and Atlantic exports
2,1SS,S25 bushels, against 1.60S, 74S last
year, Notwithstanding the enormous in
crease hitherto. Wheat again cheated
hopeful buyers, and fell nearly 4 cents,
closing 31a cents lower for the week.
Corn was shade weaker.
Cotton once more hopefully advanced
to 77s cents, and fell back to ~ cents,
with poor support here and abroad.
Both the volume of stocks and the con-
dition of domestic and foreign mar
kets for goods hinder advance, and
| later acreage reports are better. The
I iron industry has an increase in new
| business, though not in all branches
Part was due to the rupture of the
steel beam pool and the fall in price
! from $1.55 to s1.25, nominally quoted
| and some good structural contracts
1 were at once secured Part is due TO
better demand for plates and for pipe
of which one large contract for lndi
] ana fields was placed, and part TO grow
J ing needs for cars and vessels. There
J is also some increase in rods, though
! the season for wire and nails is near
! ing an end. because of an expected poo
| of the rod mills.
More Iron Marketed North.
| Low southern freight rates marketed
! little more iron at the north, and east
! ern foundry is slightly lower, with gray
forge only $500 at Pittsburg. Th'
( Carnegie works are now turning ou
! 1900 tons of rails daily, nearly all OF
| old orders, and exports of finished prod
ucts increase Sales of copper, said L
be nearly 60,00O,000 pounds, have stiff
( fened the price to lis for lake, and tir
rose to 1917 cents in spite of large ar
! rivals though lead was weaker at $S2
J and tin plates at $3.50. Coke also is {
| shade lower.
The sales of wool decrease, though
they are still greater than when all th
mills were busy, but manufacturers ar
| not doing scarcely anything, most o
| their possible demand for months ahea'
having been supplied. Western hold
ers begin to offer at to 119 cents lowe
| than of late. Woolen goods are dull
but prices are firm. The strike o
clothing hands here somewhat restrict
the new demand Cotton goods ar
without change in price. Print cloth
are still at the lowest point on record
and the demand is still Indifferent wit
the talk of temporary closing of mill
at the south. The failures for the wee
have been 24S in the United States
against 277 last year and thirty-seve
in Canada, against twenty-eight las
year.