The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-02-13
GUMS COMMERCIAL REVIEW.

u wanting ALIlIuuo . EuSiuos3 StitA
MsiDtaIned-No Special Features Prom
inent-Wheat Slowly Advancing-Salos
of Cotton and Wool Unsatisfactory-
More Hopeful Feeling in Iron-No EN-.
barrassment In the Money Market.
NEW YORK, Feb. 6-R. G. Dun & Co.
cay to-day in their weekly review OF
trade:
No important change in business APP
pears, but the number of manufactur.
ing establishments starting much ex-
ceeds the number of those stopping
during the week, and SO much that
the curtailment of working time in
many cotton mills probably does not
lessen the aggregate productive force
or amour of wages paid. There is
distinct increase in orders for wooden
goods, some gain in the silk manu-
facture, a waiting condition with gain
in one branch of boots and shoes, and
Indications of better things coming in
the iron and steel manufacture.
To many it is the most perplexiDg
feature of current events that wheat
does not rise much, though it advanced
IL cents for the week. Atlantic ex-
ports have been only 1896, GAG bushels,
-four included, against 1868 56 for
the same week last year, while west
ern receipts have been only laos, 17n
bushels, against 1850, 4O7 last year.
The condition of the market is not
explained by any special information,
but current prices show that no great
confidence is telt in the estimates of
supplies available for the rest of the
year.
Cotton fell to ~ cents, after the
agreement to close Fall River and
other print cloth works became
known, but recovered the quotation
of a week ago, 7.31 cents without fur.
Their news. Spinneps' takings have
been so small this year, those of
northern mills about 400, 900 bales less
than in 1S94.95, that the admitted mar
of demand for goods has al
present considerable weight.
Sales of wool have been smaller than
in other recent weeks, and yet are far
in excess of the consumption OF all
mills for a wees, if all were fully en-
ployed. At the three chief markets
the aggregate for the week has been
13, 563, 700 pounds.
There has been only a slight stiffen-
ing in prices, but more foreign wool
will be taken and stored, it is believed,
if western holders continue to demand
higher prices.
Prices of Bessemer pig and gray
forge at Pittsburgh have slightly ad-
vanced with Il much more hopeful
feeling, Notwithstanding the compare
tive ~narrownesS of the demand for
finished products, and in plates and
wire and wire nails there is much
more business with good prospects.
Billets are quoted at S15.25 with
scarcely any demand at present, and
rods at ST., while No. ~ black sheets
quoted at only two cents.
Reports that $1,000 tons of steel
plate and sheet bars have been eX-
ported to England are only indica-
lions of the temporary excess of sup
ply over demand in this country, and
are not supposed to have realized any
profit. Yet it is stated that prices of
cast pipe are from twodollars to three
dollars per ton lower at New York
than at Scotch works.
Bars are quoted at :he lowest price
known at Philadelphia, without
much improvement in the demand,
and steel rails are still inactive and
in price, the railroads
waiting for a decline corresponding
to the fall in billets. But ON the
whole the demand for iron and steel
products is slowly gaining. and 4 con-
siderable proportion of the works are
fully employed, though the gain is
not yet enough for those who have
taken large stocks OF material or prod.
ucts on speculation.
In the money market there appezcs
embarrassment. and the large sale
of Northern Pacific and Oregon Nayi.
securities to European capital.
lists has given additional assurance
that balances due to this country will
not be cancelled for some months tc
come SO that the point of possible gold
exports is removed still farther. The
course of the stock market has been
uni~nstructive and dealings have not
been large, but the average of railroad
has advanced a small fraction
and the average of trust stocks has
declined.
Failures for the week have been 3lI
in the United States, against 323 last
year; and 63 IN Canada, against 81 last
year.
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