Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1897-05-06
A GLOOMY OUTLOOK
TRADE IS BAD AND PROMISES TO
BE WORSE.
PRICES TAKE A TUMBLE
Prospects Of Speedy Peace II Europe
Affect the Grain Market-Failures
Hold Their Ow2-Bank Clearings
Fall OF OEer Three Per Cent
Latest Trade Reports.

| L-cA~cSt aOG pCL'-S.
| New IoIA. May 1.-R c. Dun &
Co.. weekly trade statement says: In
spite o. the moderate improvement in
most of The great industries, business
is disappointing. Expectations Of a
! speedy end of the war in Europe
through Turkish victories has helped
10 depress grain. The demands in
austria ana CANA caused exports Of
$6,500,000 in gold. Merchandise i'm
| ports are greatly increased and final ac-
| lion Of congress on the revenue ques-
! ton seems more remote. Wheat rose
| last Saturday nearly two cents, but
has fallen since that day about cents.
| This is largely because the European
markets did not supply the expected
! demand, and because events have ap-
peared foreshadowing speedy peace;
tidings from wheat growing states and
receipts from farms and enormous ex-
ports of corn, however, all had their
! influence. Corn exports were 13, 250,-
600 bushels for the past four weeks,
| against 4.497 0N0 last year; while the
Atlantic exports of wheat in the same
weeks flour included) were only 4,231, :
900 bushels, against 1897 900 last year.
Nor is this surprising; for, if in use two
bushels Of corn only equal one bushel
Of wheat, two bushels Of corn would
cost about SO cents, and one bushel of
wheat nearly 80 cents Exports of
gold would not have much influence if
there were not an extraordinary in
crease in merchandise imports and
some decrease in exports from New
York. Imports increased 60 per cent.
ever last year for the week and for four
weeks were 80 per cent. greater Al
Boston imports Of wool were extraor-
binary and at Philadelphia they
amounted for tie month to 81 ,27S, 900.
The thought that this abnormal in
crease may continue as long as action
on the revenue bill is deferred, tends
to affect exchange, but the main in
f1uence is the exceptional demand for
a reconstruction Of the Austrian mon
etary system and for Japan. OF the
great industries, iron and steel manu-
facture is slower in advancing now, as
it was much quicker in the winter.
Prices of Mesaba ore have not yet been
established, though ore better than
fayal has been sold at s.. As to So. so
and pig is weaker. Bessemer is SO. SO,
with one sale Of 1000 tons at 50 % at
Pittsburg, and grey forge at S.. so.
Nails are about cents per key lower
and tin plates 5 cents per box 4
heavy sale Of lake copper is reported at
j cents, and lead is d trif1e weaker.
There is more business in cotton and
woolen goods and q little better tone
in prices. The mills are rather better
employed"
Failures in the United States for the
week were 237 against 238 last year.
Br2dstreets' weekly trade statement
s2ys: 'The more conspicuous features
Of trade are less satisfactory, including
moderate reactions in the prices Of
staples, a falling off in the volume Of
transactions in various lines, continued
slow collections aDd less favorable con-
ditiOns in iron, steel, cotton and some
other industries. There is less demand
for staple varieties of iron and steel
makers are reporting trouble in secur-
ing specifications for contracts on hand.
Southern pig iron has secured lower
railroad rates TO points west of Pitts
| burg and Buffalo, all of which saving
! has been given to the purchaser. The
outlook is for shutting down some fur
naces in the Pittsburg district. Sales
Of wool have declined sharply hut re-
! ceipts Of foreign stock bought UP weeks
ago make fair total. Nearly a years
supply has been imported during the
! first four months of this year. The
| movement Of cotton is slow and prices
are low, buyers purchasing large lots
only where tempting inducements are
| Offered. WcOlen manufacturers are
fairly supplied with orders, and are
! inclined to ask an advance on new bus
mess. The three months restriction
On the output in cotton goods has end
ed and the mills now run ON full time
| The only advance on general recog-
nized conditions are those of PORK and
cotton. Higher prices for woolens is
an effort to anticipate the tariff. EX-
ports Of wheat flour included from
both coasts of the United States were
1,159,000 bushels this week, against l.
100000 bushels the same week a year
ego. Exports Of Indian corn have
also fallen off this week, amounting to
1857, 900 bushels, against 1859 900 last
week"