The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1897-05-08
Dun g. CO.'S. TRADE REVIEW
There Has Been 237 Failures During the
Past Week.
The COTTON MARKET HAS ADVANCED.
Business Is Disappointing - Nails Are
Five Cents Per Keg Lower-lmports
Have Been Enormous -IrOn and
Steel Manufacture Advancing.
The COTTON MARKET HAS ADVANCED.

IN spite OF the moderate improve
ment in most of the great industries
business is disappointing. Expecta-
tons of speedy end of the war in
Europe, through Turkish victories,
have helped to depress grain. De-
mands of Austria and China have
caused exports Of Sc, 500, 900 gold. Mer-
chandise imports are greatly increased
and final action Of congress on the
revenue question seems more remote.
Wheat rose last Saturday and fell since
that day about 5 cents. This is largely
because European markets did not sus-
tain the expectation Of q great foreign
demand after the outbreak of war, and
because events appeared to foreshadow
speedy peace, but the tidings from
farms and the enormous exports of corn
all had influence. Corn exports have
been 10, 0,l97 bushels in tour weeks,
against, 1896, 679 last years, while
Atlantic exports Of wheat in the same
weeds, flour included, have been only
1921, 349 bushels, against 4,579, 215
last year. Nor is this surprising, for if
in use two bushels corn only equal one
busnel wheat, two bushels of corn would
cost about 60 cents, and the one bushel
OF wheat nearly soc. Western receipts
have been reduced, perhaps in part by
floods and interruption OF traffic. The
cotton market has advanced 3c,.
owing mainly to speculative impulses
from England. The exports of gold
would not have much influence if there
were not extraordinary increasesfn
merchandise imports and some decrease
in exports from New York, large for
the last week and per cent for April.
Imports have increased about 60 per
cent. over last year for the week and for
four weeks have been 80 per cent. great
er. American imports of wool have been
extraordinary and at Philadelphia they
have amounted for the month to 49,
900 pounds. The thought that this
abnormal increase may continue as long
as action on the revenue bill is deferred
tends to affect exchange, but the main
influence at present is the exceptional
demand for reconstruction of the Aus
TRAN monetary system and for Japan.
OF the great industries the iron and
steel manufacture is slowly advancing
now, as it was much the quicker, in the
winter. Partly because the increase in
production Of pig was then too rapid,
partly because enormous contracts,
talDn when different pools broke down,
went mainly to the larger concerns and
perhaps even more because possibilities
of new developments remain, there is
great hesitation now in placing ordsss.
Reports Of, pending negotiations
sofa IgoasSbs. point to an important
changers possible. Prices Of Mesaba
ore; lave not yet been established.
though ore better than Fayal has been
Sold at 2. As to $50, and pig is weaker.
Bessemer is at $50 with one sale of
1000 tons for 9.25 at Pittshurg, and
gray forge at $50. Nails are about five
cents per key lower and eastern quota
tions are frequently shaded to secure
business. A heavy sale of lake copper
is reported at lie and lead is a trife
weaker. There is more business in
cotton and WOODEN goods and a little
better tone in prices, some cotton and
some wooden goods having slightly
advanced without general change. The
mills are rather better employed and
the dAand is apparently increasing,
though hot enough in wool to induce
manufacturers to purchase, But
imports have been enormous. ii current
reports'nre not in error more than lOO,-
1000, 900 pounds in April alone, Phila-
delphia having received over, 8, 900, 900
pounds, in folir weeks, New York over
100000, and Boston, apparently,
over 65, 100000 pounds. Sales for the
past four months have been $50, 1902, $50
pounds, including 81, 943, 400 domestic,
and for the whole year 35l, 49,, 1881,
;no}uI;,r 90 os0 COZ