The herald., 1897-10-23
Dun & Co.'s Review

NEW YORK. Oct. pr. G. Dun & Co.'S
weekly review of trade will say tomorrow
After the heaviest buying ever known
in many branches during September ani
the first half of October, it was both nat
ural and desirable that more quiet peri
cd should give time for testing the sizt
and temper of the retail trade and for tht
distribution of part of the enormous quan.
titles bought. In textile goods the rust
of orders went far beyond all distributive
demand in August. and represented great
replenishment of stocks ana the similar
rush for goods has been correspondngly
great in other lines during the past two
months. In iron and steel and in boots
and shoes there was actual danger of a
speculative imitation of prices, such as was
seen in 1895. but it has been avoided appar-
entity for this season by the solid sense OF
leading men, who regard a time of COM
parative ease as essential to the coming
and permanance of prosperity in their
lines. AS the buying for replenshment is
partially satisfied and diminished. there
is some decrease in the volume of transact
lions. Though at the same time the work.
ing force has further increased. the wages
of labor have been in numerous cases ad-
vanced and the foundation laid more
broadly every week for larger buying and
business hereafter. The iron industry waits
because possible production of the year
has been practically ordered. while neither
buyers nor sellers regard contracts at cur
rent prices for next years business as
quite safe. Bessemer pig is a shade weak
er at s1o.4o. and grey forge at $3.50 at Pitts
burg, while billets are hard to get at any
price, so nAuch has the current demand
come to exceed production. Sales of war;
rant pig at Philadelphia % cents below is
not, in fact, a decline. New business in
finished products is almost Of necessity
smaller, since manufacturing works are
nearly all full for months ahead. The
plate mills at the west are so full that they
could not compete at all for three Rookie
feller vessels requiring 200 tons each. The
demand for bars are the the hest for long
time and contracts for the East river
bridge and for numerous new buildings and
railway bridges are still pending. The coke
output has risen to 145. .033 tons weekly and
Is the largest known for years. Anthracite
coal is sold at s4.I5 in New York harbor,
or 20 cents below the circular, and conser-
vative estimates make the years output
40. 800. 900 tons. The only noteworthy feat
ure in minor metals is sensational col
lapse in lead of 80 points on sales of 30 900
tons. Sales OF wool have sharply decreased
again at Boston. amounting to only 3043, 900
pounds, against over 5000 900 pounds the
last week in September, and the week
there was the dullest since January 7tth.
Some large offerings were made to realize
profits before prices fell, but quotations re-
mained unchanged, because even at half II
cent decline buyers were not disposed to
take hold. The produce market acted with
as little apparent reason as usual. AL
though Atlantic exports of wheat were
3756, 6O7 bushels. -four included and for
three weeks of October 10.0S990S bushels.
against 1912 PA last year, with western re-
ceipts not half million bushels larger, the
price advanced 2h cenots.
Failures for the week were 22i In the
United States, against 274 last year.. and
S6 in Canada, against 60 last year.