Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1897-02-27
THE BUSINESS OF the WEEK
Feature Has Been the Increase 10
Iron and Steel Business.
An Apparent Increase In the De-
maud for Wooden and Cotton
Goods, Boots and shoes
-.-Money Market.

New York, Feb. 20.-R. G. Dun & Co.'S
Weekly Review of Trade says today:
A large increase in the iron and steel
business OF account of sales covering
eight to twelve months production of
the largest works; a better demand for
wooden goods ana slightly better for cot
tons, a gain which may prove lasting in
boots anr shoes; slightly better prices
for wheat, cotton, wool and iron. and
a money market well adapted 10 en-
courage liberal purchases against fu-
ture Improvement In business, have rem
iered the past week more hopeful than
any other since early in November. The
heavy excuses OF merchandise exports
over imports in January, the continu-
ance of exchange rates showing that
Europe is still largely indebted 10 this
country on current account and the
prospect that congress will adjourn
without any disturbing action. all have
their favorable influence upon the mon
ey market and upon future undertake
ings. In nearly every branch the great
iron and steel industry feels the up
ward impulse supplied by purchases of
steel rails, said TO be half a million
tons each from the Illinois Steel compa-
ny and from the Carnegie company,
besides some from other companies, in
part as low as SIS per ton, and about
400, 600 to foreign purchasers at ST. to SIS,
but all recent sales at $40 to eastern and
at $21 at western mills.
Nearly all of the great railroads OF
the country have seized the opportun-
ity to supply themselves with rails for
one or W. years requirements. These
enormous orders have advanced besse-
mer pig al Pittsburg only Is cents per
ton, with gray forge only a shade lower,
and 40 considerable change appears in
finished products, although plates are
unchanged in price, with good demand,
and nails are held at recent prices. The
Bar association no longer controls any
thing and iron bars are quoted at 81 .05
per 100 pounds, while steel bars are
quoted at 50 cents per 100 pounds.
Structural forms are steady, although
100, 900 to 100, 900 tons are said TO be re-
CURED in New York alone this year,
and American tin plates are still sell
ing at 1920, which Is 70 cents less than
the price for foreign.
Other industries are gaining also,
though less conspicuously. The recent
decline and subsequent rise in raw cot
ton have not materially affected the
manufacture, which is gradually get
ting rid of it's accumulated surplus,
though there seems to be but little in
crease as yet in the demand for goods.
The sales of woods have sharply de-
clined, amounting to 7,409, 300 pounds
for the week. against 9,l57, 800 for the
previous week, but owing to the heavy
transactions early in the month the
sales for three weeks have been 80, $780,
800 pounds, of which Is, 057 300 were do
nestle, against 13, 1863, 700 pounds last
year, of which 997, 500 were domestic and
16, 1896, 200 in 1892, of which 1894, 200
pounds were domestic.
The larger mills have acquired full
supplies for the present and at any ad-
vance of prices they appear ready to
drop out of the market. The demand for
wooden goods does not seem to have ex-
banded materially and no quotable
change in prices has appeared during
the week.
The heavy exports in January, follow.
ing the unprecedented excess Of exports
over imports of merchandise in the
four previous months, are largely due
to the fact that neither the wheat MOI
the cotton markets have been material
ly controlled by speculation. WheaI
dropped to S0.75 cents, but rose to 3d.
cents, with no important impulse except
the conviction that recent prices have
Deen low enough. The Atlantic exports
Tour included, were only 1,235,375 bush
els for the week, against 1,Sl0,30 las
year, but for three weeks have beer
5000, All bushels, against 5,44S, 429 las
year. The western receipts are still
small, for the week only 1907, S45 bush.
els, against 2,4l5,55S last year, and foi
the past three weeks only 1863, 240 bush
els against S,32S.771 last year. Mean
while western receipts of corn hav,
been well night double last years, anC
for three weeks the Atlantic export:
have been 6,3l7.2l4 bushels, againsl
3, 1884. S99 last year.
Evidently this movement is displac
ing many million bushels of wheat in
foreign consumption.
Failures for the past week have beer
800 in the United States, against $50 las
yea and IS in Canada. against &C las
year.