The herald., 1897-05-01
Dun & Co.'s Trade Review

NEW YORK, April S0.-R. G.. Dun &
Cos weekly review OF trade tomorrow
will say:
In spite Of the moderate improve
ment In most of the great industries,
business is disappointing. Expecta-
tions Of speedy end Of the war in Eu-
rope through Turkish victories have
helped to depress grain. Demands Of
Austria and China have caused exports
Of $6,500,000 gold, merchandise imports
are greatly increased, and final action
OF congress on the revenue question
seems more remote. Wheat rose last
Saturday nearly two cents, but has
fallen since that day about flve cents
This Is largely because European mar
kets did not sustain the expectation Of
. great foreign demand after the out
break of war, and because events ap-
peared to foreshadow speedy peace, but
the tidings from the wheat growing
states. the receipts from farms, and tina
enormous exports Of corn all had in
fiuence. The exports Of gold would not
have had much influence IL. there had
been an extraordinary increase in mer-
chardise Imports and some decrease in
exports from New York, large for the
past week and five per cent for April.
Imports have increased about 60 per
cent over last year for the week, and for
four weeks have been 50 per cent great
er. At Boston imports of wool have
been extraordinary. and at Philadelphla
they have. amounted for the month to
81, ,278. 900. The thought that this alb
normal increase may continue as long
AZ action on the tariff bill IL deferred,
tends to affect exchange. but the main
influence at present IL the exceptional
demand for reconstruction OF the Aus
trian monetary system and for Japan.
OF the great industries, the iron and
steel manufacture II slow In advancing
now. as It was much the quicker In
winter, partly because the increase in
the production Of pig iron was then too
rapid, partly because enormous con-
tracts taken when the different pools
broke down went mainly to the larger
concerns. and perhaps even more be-
cause there Is greater hesitation now in
placing orders. Reports of pending ne
gotiations between the Illinois Steel and
Minnesota Iron companies point to an
important change ~ possible Prices
Of Messaba ore have not yet been estab-
lished, though ore better than Fayal
has been sold at s2.26 to .$2.l6, and pig
ID better; Bessemer is at $3.50, with one
sale Of 1000 tons for $a.25 at Pittsburg
and grey forge at $3.50. Nails are about
five cents per keg lower, and tin flve
cents per box, and eastern quotations
are frequently shaded to secure busi-
ness. A heavy sale of lake copper IL
reported at II cents. and lead IL q trifie
weaker. But imports Of wool have been
enormous, II current reports are not
In error. more than 100, 900 900 pounds in
April alone, Philadelphia having re-
ceived over S,0o0,ooo pounds in four
weeks, New York over 24,000, 900 and
Boston apparently over s.. 0Oo. 900 pound
Boston apparently over 81, 900, 900
pounds. Sales for the past four months
have been 1870, ,oo2. $50 pounds, including
s2.94S.s00 domestic. and for the whole
year Sbl, ,Se2, ,SS1, including 21S. $50 es1 do
mestic. but In 1923 sales were aos, ,s4s.-
655 pounds.
Failures for the week have been 2s7
in the United States. against 2Ss last
year and 70 in Canada. against 81 last
year.