Iron County register., 1897-09-30
DuN's COMMERCIAL REVIEW.

The Balance of Trade Again Strongly An
Our Favor-Heavy Shipments of Gold Set
ting in-Wheat aud Corn Higher, But the
Decline in Cotton ContInues-Tron and
Steel Workers Failing Behind with
Their Orders.
New YoRK. Sept. 25.-R- G. Dun 8
Co. IS weekly review of trade in its is
sue to-day says:
Gold imports have begun direct from
England and from France, besides the
arrival of 81, 00O, 900 at San Francisco
from Australia for wheat exported.
The gold received there and started
from Europe amounts to So, 500, 600 in
two days. and the advance of its
rates by the Bank of England to
215 per cent. seems little likely to
check the movement in view of
heavy merchandise balance due to this
country and a rise in the rate of inter
est here. The August excess of mer-
chandise and specie exports over i'm
ports was not far from S42, 000, 900, and
the September excess viii evidently be
larger, unless shipments of gold are
considered. Merchandise exports from
New York in three weeks of September
have been 1873 per cent. over last
y
like changes on the whole trade for
the month would result in net exports
of $5S, 900, 600 merchandise besides sill
yer.
Produce markets have been uncer-
tain, closing a fraction higher for both
wheat and corn, while the decline in
cotton continues. With s accents paid for
spot at the end of August cotton has
dropped l 4 cents or Is per cent. in less
than four weeks, in spite of remark
able revival of manufacture. Fever in
some southern cities has not been
largely influential and the main factor
has been general impression that es-
Inmates are as misleading as they were
when the yield was the'greatest onrec-
ord. The corn estimate most credited
by the trade is only $50, 900, 900 bush
els, but is coupled with figures tending
to show surplus from the last crop OF
400, 900, 900 bushels over ordinary con-
sumption. We're this quite believed,
the price would not be rising, although
exports continue heavy, in three
weeks, 9,927, $40 bushels, against 6, $780,,
1S7 last year.
Wheat has gained a fraction for the
week. While Atlantic exports, -four
included, for three weeks have been
II, 49s, ISL bushels, against 6, 1S3, 74s last
year. Western receipts are exceeding
last years and foreign estimates now
agree in making the probable require
ment from this country over 100, 600, 600
bushels greater than last year.
The official ending of the western
coal strike adds many thousands of
men to the working force of the min
ers, and others in manufactures using
bituminous coal. The anthracite
strike has substantially ended and no
extensive labor disturbance is threat
ened. The output of coke is now 1885,.
900 tons, and the price is also ad-
vanced. Some branches of the iron
and steel industry are clearly no longer
aole to keep up with their new orders.
Others are very fully employed for
some months ahead, and with all the
demand is increasing. Heavy buying
has raised the price of Bessemer pig
at Pittsburgh to $10.5 so and gray forge
to $3.50, with actual sales of 10, 600
tons southern pig in the Mahoning
valley for $6.75 at Birmingham.
Wool sales at Boston have declined a
quarter, but manufacturers are still
unable to find profits in goods with
wool at present prices. Reported sales
of wool are more than double those of
the most prosperous years, but the rise
in prices renders the future more
doubtful except for manufacturers hav-
ing heavy supplies laid in. The cot
ton mills are doing large business al
though recent buying of goods has
decreased after the recent
rush.
Failures for the week have been 209
in the United States against 315 last
year, and 2S in Canada against 20 last
year.