The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-10-21
IN THE WORLD Of BUSINESS
BRADsTREET's AND DUN q cos
REVIEWS OF FINANCE AND
COMMERCE.
ENCOURAGING Showing FOR OCT.
An Increase in Iron Consumption
and Production Thought by
Bradstreet the Estimates of the
Cotton Crop Are Too High,

New York, Oct 15.-R. G.. Dun & Co.'S
weekly review of trade will tomorrow say
Foreign trade in September, the heavy
increase in iron production and consump
ton and the largest payments through
clearings ever known in October are indi
cations which outweigh hesitation in some
markets. The increase in employment OF
labor has continued with further accounts
of works opening, increasing forces of
hands or raising of wages, and at every
point where actual figures can be tested
it appears greater than ever before. Eff.
forts by the Bank of England have de.
| layed further gold exports, but with u
cotton movement rising, large shipments
| to the other side are deemed as certain
and not far distant. More gold means
| less just now than more iron. The out
put of pig iron in October was 200, 12S
| tons weekly, against 112,7S2 tons a year
| ago, the increase since July having been
- per cent. Unsold stock has been re-
| in September, indicating a consumption
exceeding 232,OOO tons weekly, which
| is about 10000 tons greater than ever be-
| fore. Prices of pig hold steady, though
the production has been further increased
since October l, and prices of finished
products gradually rise with especially
heavy demand for plates, rods and bars,
while another contract has been taken
by the Illinois Steel company to deliver
10000 tons of steel rails for Japan, and
the Pennsylvania company has bought
81, 1000 tons. Ore shipments on the lake
surpass all records. Wire nails are DC
higher the average of iron and steel
products rising 6 per cent for the week to
the lowest point since April. In plates
the prices are cheaper, at $50, with enor-
nous production, and copper at Sill. II IL
for lake, with lead at S4.1O, but tin is
fairly strong.
The cotton mills are producing, as
cheap cotton invites activity, and with
moderate demand print cloths are low at
50 A. and some grades of other goods
are slightly reduced Sales of wool for
speculation have greatly decreased, but
manufacturers do not find current prices
are warranted by the market for goods,
though it is strong and advancing. Sales
of wool for two weeks have been 24,33l, =
600 pounds at the three chief markets,
of which 1897 800 were domestic, and
while quotations are maintained, large
lots previously withdrawn by conslgnors
are now offered. The demand for spring
goods is limited, but the prices of some
qualities have advanced a shade further
There is a quiet contracting already for
heavy weights.
Wheat has been fairly steady, but NOV
ing more largely than last year from the
farms and from the country. Western
receipts were 1876 054 bushels in two
weeks of October, against 1423o,oi6
bushels last year. Atlantic exports, o.
463. 4O1 bushels, flour included. against A.
- Ii hA1o 1ns yrh "
ports were 3,262.3S7 bushels, against j.
3O992J bushels last year.
September exports of wheat surpass
all records. amounting to 2o,S6S,S3S BUSH
els, against 17,646,S16 bushels last year,
owing to high prices, the value being over
100 per cent larger for all breadstuffs.
The price of wheat has declined 81 and
corn | per cent with the government re-
port of yield exceeding 1,lOOOOO,OOo
bushels.
Cotton has declined 3-16c to 6.31c for
spot. some authorities of repute having
published estimates that the yield will be
$500 900 bales, but the movement is yet
resisted by fever.
Failures for the week have been 233 in
the United States. against 32S last year,
and SO in Canada, against 40 last year.
Brndstrect's Trade Review.
New York, Oct 15.-Bradstreet's will
say tomorrow:
The activity in staple lines of mer-
chandise is less pronounced than
month ago, due to interior mercha nus
having supplied their demands for the
time. a gradual increase of territory i'll
cludcd i'm the yellow fever quarantine,
the low prices of cotton, tendency IN
the Missouri river valley and spring
wheat states to hold wheat for higher
prices and to farmers being busy with
fall planting. Unreasonable weather
has had an unfavorable influence on the
distribution of merchandise throughout
the central west, and at Chicago and
st. Louis sales have fallen off. A well
Informed correspondent of Bradstreet S,
after extended personal investigation,
gives reason for anticipating much
smaller yield of cotton than the trade
estimates indicate. He looks for a rex
as crop not to exceed 2,OOO,UO bales,
or less than last year, while the Mis-
less cotton than the average crop. and
Arkansas is in less favorable condl-
ton than last year. The long and severe
drought, facilitating picking and MARKET
ing, has, he declares, destroyed all hope
of top crop and will materially cut
short the latter yield. The position OF
the cotton goods industry is no more
taVOra DUI WOOieH SOOuS wa
ers report demand brisk and prices
steady and an unwillingness by makers
to accept new orders at present quota
tons.
Advances are reported for Bessemer
pig iron and steel billets with quick
sales, and prices are firmly held. Some
steel mills are not able to keep up with
orders. The domestic consumption of
pig iron last month was extraordinarily
heavy and promises to greatly stimulate
production. With the slackening off in
the rate of distribution of merchandise,
the upward movement of prices Is cor.
respondingly checked, and in the third
week in succession the number oil
staples for which quotations are lower
Is greater than those which are higher
or unchanged. There are no advances
for lard and mems shoes, but prices for
pork sugar. other forms of iron and
steel than those named, for copper, lum-
Der. coal. hides and wool are unchanged.
Quotations are lower for butter. pota-
toes. wheat, corn, oats, beef, flour,
coffee. cotton, print cloths and lead.
Visible Supply of Cotton.
New Orleans, Oct 1N-Secrntary Hes
ter has issued statement OF the worlds
visible supply of cotton today, covering