The age-herald., 1897-11-13
Marked Increase in Iron Production With
 Great Demand For Same.
INCREASE IN RAILROAD EARNINGS
Woolen Mills Have Some Large Orders Ahead While Cotton Manufacturers Speak of Curtaillng 0utput-Heayy Move.
 ment of Grain Noted.

New York Nov. 12.-R. G. Dun & Co.'S weekly review of trade will say in its issue tomorrow: Colder and more stormy weather. so long nseded to &C., tolerate distribution of winter goods, has materially helped in some quarters, and the resulting improvement in retail trade is nearly in every northern dis frict this week, so that orders are en- couraging, and in some cases the multi tude of demands for immediate delivery show that the distribution to consumers has alre ady gone much beyond the ex- pectations of dealers. But this is not yet the general rule, and with many complaints of delayed trade from other quarters, there still remains the exten- sive shrinkage caused by fever and quarantines at the south. It is, there fore, the more surprising that the vol ume of all payments through clearing houses continues about as large as in 1892, and 167 per cent larger than last year. Railroad earnings also nearly equal those of 1892 for the first week of November and half the mileage in the United States shows earnings in Octo- ber of $50,354, 496, or 8 per cent larger than last year and 2.2 per csnt larger than 1892. Speculative markets feel dis appointment because prices do not rise farther and faster but it is fortunate for producers and dealers that the ex- perience of some past years in that re- spect has not been reported. There is nothing to cause general reaction. The purchasing power of the people is grad ually increasing. and after the lull which follows extensive replenshment Of stocks trade should give ample evidence of that increase.
 The output of iron furnaces Nov. 1 was 223, ,159 tons weekly, against 200,129 Oct. 1, a. gain of 6.1 per cent, and unsold stocks decreased $500 tons in October, indicating a larger consumption in man. ufacture than ever before, even when the output of pig was pushed by swiftly advancing prices to the highest point, 217,6S2 tons Nov. l, 1895 Prices of iron products rose that year 55.3 per cent, but are now per cent higher than June g. The enormous output with some more furnaces started in November causes but slight decline in Bessemer pig to $1025 at Pittsburgt with no de- cline in other pig there, alt the east or Chicago, and no fall in prices of finished products except a shade In angles. While most works have orders for the rest of the year. in sheets and some other branches they are far behind in deliveries. New orders are few, but in- cluded ons for 1000 cars at Ch.cagosand one for 400 ait Pittsburg; one for an ar mored ship at Chester, many for sman buildings and for St. vincent's hospital and three school houses here; many for bridges, with some for the drainage ca- nal at Chicago a. lively demand for hoops, and large export business with a quantity of bars for Asia
 Woolens mills generally have orders foo three months ahead and are not seek ang further engagements. Large sales of speculative lots of wool alt prices not stated suggest that it may be lower be- fore the mills need further orders. A year ago the price began to mount with heavy speculation and has risen 59 per cenls. without R,eaction in quotations, while the rise in goods averages but 14 per cent.
 The decfne in cotton and the slow de- mand for goods, owing in part to warm weather have led cotton mills 10 confer about curtaflment of production and fur ther reductions have been made in brown Sheedngs and dLllls, prints and by job fbers in bieached goods. Cotton declined an eighth to 5.S7 cents for maddling up- lands and both expor.s and takings of Epinners 0nave Ibeen large.
 Wheat dropped over cents, but has since risen as much with heavy buying for export. Western receipts continue heavy, in two weeks 1402S, GOT bushels against 10. 5S1, ,192 bushels last year, while Atlantic exports (houu included), have been 6,562, ,025 bushels against S,921, ,231 last year.
 An English authority reckons the worlds yield at 161 ,000 000 bushels less ahan last year, which would mean market for all this country has to spare Corn exports are again larger than last year and the price has risen 1 cent. The prtces of meats indicate that farmers as yet have no inducement for holding corn for feeding.
 Failures for the week have been 291 In the United States against 276 last year, and 25 in Canada against 46 last year.
 Bradstreets' Report
 Bradstreets tomorrow will sayi One of the most significant features of the busi- ness situation Is found in the continued heavy weekly totals of the bank clsar- lngs, that for the six days ending Nov. n amounting to $1,347. 100000, an increase of 10 per cent, over the preceding week and 13 per cent. comparsd with the sec pnd week of November. 1896. when busf-
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