The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-06-17
IN THE WORLD Of BUSINESS
BRADsTREETS AND DUN q CO.'S
REVIEWS OF FINANCE AND
COMMERCE..
THE GAIN IN BUSINESS CONTINUES
In u Moderate Degree-GOOd Crop
Prospects Brighten the Outlook.
General Advances in Quo
tatiOns on Change.

New York, June 11.-R. G. Dun & Co.'s
Weekly Review tomorrow will say:
The gain in business continues, and is at
the best moderate but yet distinct. 1t is
still in quantities rather than prices, al
though in some branches an advance in
prices appears, but on the whole the num-
Der of hands employed, new orders and
the amount of work done. are slowly in
creasing. Prospect of good crops of
wheat and cotton helps; growing demand
from dealers whose stocks are gradually
gaining consumption also helps. and in the
money and exchange market large buying
of American securities has an influence.
Wheat looks well. and the best trade
authority now estimates the yield at 515,-
100000 bushels, with many state and rail-
way returns to support it. The price re-
covered l Is cents after last weeks fall
of over 4 cents, because visible supplies
are diminishing, but with 2,705, 729 bush
els received at western points in June, At
lantic exports have been, -four included,
3,12S,943 bushels against 3,704,S72 bush
els in one more day last year. The outgo
is steady. and since March has been 49,
946,3 bushels against 16, 115, 421 bushels
last year, and yet western receipts have
kept fairly ahead of the exports. The an
nual report of the cotton acreage by the
Financial Chronicle shows an increase of
5.S3 per cent in all the states, and an in
crease in every state in spite of the floods,
which, with no more favorable weather
than that of last year, would make crop
of nearly 8, 100000 bales. The market is
Lice weaker partly because some south
ern cotton mills are trying to limit produc-
ton.
not expect other than a waiting business
with change of tariff impending, but the
demand for bleached goods is steady,
though moderate moderate for print
cloths; slightly better at ga plus 1 per
Brown goods are dull, though quotations
are unchanged. Some large wooden mills
are preparing to increase the output, and
have bought heavily. Sales of foreign
wool at Boston alone reached 6.31O,O00
pounds out of S,36S,OO0 sold of all kinds
at the three chief markets.
Carpet mills at Philadelphia, which have
just resumed after a long idleness, were
also buyers, and all are now running near
ly full time.
Iron furnaces in blast June /, reported
weekly output of 16S,3S0 tons against
17052S May 1, and in unsold stocks, ex-
elusive of the great steel companies, an
increase of 11.614 tons for the month,
to 1,050,25 tons. Yet when an accident
sent one of the large concerns into the
market to buy quickly 10000 to 10000
tons of pig, the price rose to $500 for Bes-
semer at Pittsburg, receding afterwards to
1915, with grey forge higher at SS.2o.
The main fact is that production of pig
has for some months been much in excess
of the demand in the manufacture of fin
ished products. Failure to form rod
trust caused wire nails to yield 5 cents.
The general demand for plates and sheets
was better, and for bars much larger east,
and at Chicago, with some large orders
taken at Pittsburg. Philadelphia reports
decided improvement in finished iron, with
fewer concessions and Pittsburg's large
orders, while apprehension of labor difi-
culties has induced much buying at the
west. The strike at Pittsburg ended with
out success.
Failures for the week were 254 in the
United States agains DAG last year, and 80
in Canada against ~ last year.