The herald., 1897-01-23
COMMERCIAL CONDITIONS
AS Seen and Reported by Ex-
pert Observers
MORE BUSINESS Is DONE
But Prices Show No Signs of I'm.
provement
Production Has Increased Somewhat
but the Great Consumption Has
Not Yet Arrived
Associated Press Special Wire

| Associated Press Special Wire
NEW YORK, Jan. PR. G. Dun e.
Co.'S weekly review will tomorrow say:
There is more business though not at
better prices. 1t Is interesting that al
most all prices which change at all are
lower than a week ago, and yet business
is nquestionably larger There is
larger production, but as yet not as
much increase in consumption, and
| there is larger buying Of materials, but
at present only because better prices are
expected in the future.
A few conspicuous failures during the
week have had no material influence.
The market for securities is slightly
stronger, and yet there is very little
doing The number of hands employed,
all industries considered, is slightly lar
| ger than week ago, with adverse
changes in the rate of wages. All ap-
prehension of foreign disturbance of
| money markets has passed away, but
| there is still great caution in making
| loans. 1t Is mistake to reckon these
as symptoms OF depression. On the con-
trary, in spite of the lower range of
prices In important Industries, the con-
|
a consumption increasing, not as yet
largely, but steadily Wheat, corn, and
cotton exports are the key to the financial
| situation and during the past week
| wheat has declined 20 and corn " of
| cent, while cotton is unchanged. The
| Western receipts of wheat are still small,
| 5S1 900 bushels less than year ago, and
for three weeks of January 4, 159, 719 BUSH
| els, against 1866 100 last year, but the
IN
! 1,534714 bushels for the week against g.
| 3e6.457 bushels last year, and in three
weeks of January have been 5,019, ,032
bushels. against 6,S49,S S4S last year. The
! heavy buying of wool mentioned last
week has continued with smaller con-
Germs participating. and it is understood
| to be in anticipation of expected duties,
| the sales al Boston alone having amount
| ed to II, ,56S 600 pounds. Quotations have
| not changed as yet, although western
| holders are quite stiff. In the minor
metals a stronger tone Is general, and
| with an output of 1859 tons in the
| United States and 1856 in other countries.
| which is larger than in any other months
| since July in other countries. and except
| in October. larger than in any other
! month since March last in the United
States; copper is slightly stronger at l.
cents Lead has improved little. with
| 3.C71s asked, and tin is steady at 134O,
/ Wllil Il stronger market at 1OnQOn. The
| iron Industry is engaged in settling rel
ative prices and the slow operation re-
tards business in many branches since
| the future of prices is uncertain. Bes-
semer pig is a tritle lower at 10. 40 at Pitts
burg and gray forge $94O, though no
further decline has occurred in eastern
markets or at Chicago. But the COM
petition of new concerns tempted to man
ufacture nails by the high prices recently
maintained. caused slightly lower sales
of wire nails at 1.35 and of cut nails at
1.25. The bar association has been in
session to consider the reduction OF
steel bars to l cent ,and in large con-
tracts even lower. and the billet associa-
tion has again been called together to
meet on the 9th. although there is no
prospect of its reorganization, and bill
lets are selling at 1926 at Pittsburg. The
increase in manufacturing is perhaps
more definitely shown than in any other
way by the production of coke, which
steadily increases. 9917 ovens being in
blast against s173 idle and the weeks
output, 100, $50 tons, is over double the
output of October i.
Failures for the week have been 400
IN the United States, against 373 last
year. and 65 in Canada, against Gil last
year.
The aggregate gross earnings of all
railroads in the United States reporting
lOT L1e llTSl NAIL OIL JdIudTy Is SJ,ol fZt,
a decrease of per cent, compared with
last year, and of IL per cent compared
with the corresponding period in 1898.
Only the granger, other western, south
ern and southwestern groups are the
rIlnber of roads reporting sufficiently
large and important to give a fair indi-
cation of what the roads In those sections
are doing. The granger and other wes-
tern roads continue to report losses COM
pared with both years with which COM
parison is made. The southern roads
report a gain over both years and the
southWeSternS a considerable loss COM
pared with 1893.
BRADSTREET'S REPORT.
Bradstreets tomorrow will say: The
most encouraging feature of the trade
situation this week is the increased de-
mand from manufacturers for wool.
The decision of print cloth manuNactuc.
ers to curtail the output will empha-
size recent sales of the heavy surplus
stock and promises a better market.
TO these may be added the increase in
the volume of domestic bank clearings,
a general steadiness of prices and the
healthGulness of general trade in almost
all departments. Conservatism in
granting credits and the preference by
retailers ard others to buy ofteEer but
in small quantities. continue to mark
the course of business as not before Tor
years. DenanQ Is increasing IN almost
all lines, with few EXCEPTIONS although
very slowly. A radical Improvement
in the near future, based on slow but
healthful increase in the consumptive
demand is, in the absence of unforseen
obstacles, almost a certainty. Prices
appear to include few, il any, that are
higher than a week ago. while -four
wheat, corn, lard crude petroleum, tin,
Bessemer pig iron and steel billets are
lower. Wool remains firm at practically
unchanged prices, but it is likely to
advance if the present demand cont.n-
ues. Leather is also firm and un-
changed as are lumber. cotton, print
cloths, pork, coffee and sugar. Exports
of wheat (hour included as wheaD
from both coasts of the United States
this week (St. John, N. B., included)
amount to 2916,70 bushels. as compared
with 2.94S 600 bushels last week, g.
S49. 900 bushels in the same week year
ago. ard 2,S400G0 bushels in the week
two years ago.
An unusually long list Of business en-
barrassments continues a feature of the
state of trade for the past week. the to- |
toJ for al br1c