The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-09-30
IN THE WORLD OF BUSINESS
GLAD TIDINGs OF GREAT JOY ALL
OVER THE BLESSED LAND.
THE WAVE HAS LIT.
AL MILLS DOING A LARGE BUSINESS
GIittering Gold, the WORLDS stano'
ard, Pouring Into the Country,
and the Free Silver Calamity
HoyIer Goes Bankrupt.

New York, Sept. PAR. g. Dun d
Co.'S Weekly Review of Trade VIII say
I'm its issue to morrow:
Gold imports have begun direct from
England and France, besides the arrival
of 100000 at San Francisco from
Australia for which the exported gold
received there and started from Europe
amounts to S6,50O,OO0 in two days and
the advance OF it's rate by the Bank Of
England to 2 IL per cent seems little
likely 10 check the movement in vie"
of the heavy merchandise balances due
to this country and a rise in the rate
of interest here. The August excess OF
merchandise and specie exports over i'm
ports was not far from S42,OCO,OOO. The
September excuses will evidently be
larger unless shipments Of gold are con
siderable. Merchandise exports from
New York In three weeks Of September
have been 1913 per cent over last year s
and imports 1871 per cent less, and like
changes on the whole trade Tor the
month would result in net exports OF
S53,0OO.OOO merchandise besides silver
Produce markets have been uncertain.
and corn, while the decline in cotton
continues. With Sc paid for spot cotton
at the end of August, cotton has dropped
IS per cent in less than four weeks III
suite Of q remarkable revival OF manu-
facture. Fever In some southern cities
has not been largely influential ana the
main factor has been general impress
sion that estimates are as misleading
az they were when the yield was the
most credited by the trade is only LTD
600 bushels, but is coupled with ngures
tending to show a surplus from the last
crop Of 40O,0OO,OOO bushels over ordi-
nary consumption.
The exports continued heavy, in three
weeks. 9,927, $40 bushels against 6,l5O-
1877 bushels last year.
Wheat has gained a fraction for the
week. while Atlantic exports, flour in
clutled, for the week have been r.
498. 1Sl bushels against 6,1S3, 143 bush,
els last year. Western receipts exceed
last years and foreign estimates now
agree in making the probable require
ment from this country over lUo.OOD,VO
bushels greater than last year. Inc Of
fetal ending of the western coal STRIKE
adds many thousand men to the working
force in the mines and others in manu-
features using bituminous coal. Inc an
ended and no extensive labor disturb
ance is threatened.
The output Of coke Is now 12J,OcO tons
and the price Is also advanced.
Some branches Of the iron and steel
industry are clearly no longer able 70
keep up with their new orders. Orders
are very fully employed for some months
ahead. and with all the demand is in
creasing. Heavy buying has raised Bes,
semer pig at Pittsburg TO S1O.JO and
grey forge to $3.50 with actual sales OF
10000 tons southern pig in the Mahon-
ing valley for $6.75 at Birmingham
Billets are quoted at S1621 and SO has
been refused for wire rods. The struc-
tural work is behind orders, tin plate
mills are hindered by failure to get sheet
bars delivered fast enough. plate and
sheet mills find heavy demand every
where and bars are in general demand
for cars at the west, with the vastly
improved demand and shade better
prices I'm the east. The average ad-
vance Of iron and steel products from
the lowest point is 50 per cent.
Wool sales at Boston have decreased
a quarter, but manufacturers are still
unable to find profits In goods with wool
at present prices. Reported sales Of
wool are more than double those OF the
most prosperous years, but the rise in
prices renders the future more doubtful
except for manufacturers having heavy
supplies laid In.
The cotton mills are doing large bust
ness, although recent buying of goods
has naturally decreased after the recent
rush.
Failuresfor the week have been 200 in
the United States against 315 last year,
and 2S In Canada against 30 last year