Iron County register., 1897-09-23
DuN.s COMMERCIAL REVIEW.

i
The Return to work of Striking Miners
Adds to the Peoples Purchasing Power,
While the ReplenIshing OF Stocks 1nsurea
Further Work for the Unempl0yed-FOr-
sign Demand for Dome sslc Products stan
Increasing.
NEw YORK. Sept. 1s.-R. q. Dun s.
Co.'S weekly review of trade says in
its issue to-day:
The end of the bituminous coal strike
and the return of many thousand men
to work at advanced wages adds to the
purchasing power of the people and
the anthracite strike affects not a fifth
as many workers. The starting of
many mines and works; enormous ex-
ports of wheat and corn; the favorable
news as to those crops and cotton:
the fall in sterling exchange and the
report showing that gold imports he-
gan in Augnst exceeding exports
by s., $50, 5S7, while merchandise
exports exceeded imports by S40.-
953, SIS have all contributed to forward
the Improvement in business. The re-
plenlshment of stocks cannot be half
finished, through some who could see
no sign of improvement few weeks
ago are now finding it so vast and
rapid that they fear reaction. But
onsumers as well as dealers have to
supply themselves after years of en-
forced economy, and while their
power to purchase is increasing every
day and their actual buying at retail
increases, reasons for apprehension
are not urgent. When the tide rises
after four years of depression it does
not fall again after four weeks
The wheat market has declined over
Eve cents on account of crop reports
which promise larger prosperity, and
corn and cotton are both a little lower
for like reasons. Yet estimates of the
highest financial authorities regarding
requirements from this country are
not smaller, but larger than before,
while better prospects in Argentina,
Australia and India hold out no prom
lse of large European supplies, or OF
any until winter is about over. At
lantic exports of wheat, -four included,
are more than double last years each
week, and in two weeks $3.50, 3l3
bushels, against 4, 107. 721 last year, and
of corn 1905, 1868 bushels, against 8, ,9S7,-
s26 last year.
From the Pacific coast wheat is also
moving largely, % cargoes from San
Francisco this month, and over 54S,9S5
bushels in seven days from Portland.
Corn declined over three cents, with
the growing belief that the yield will
surpass estimates. Cotton was de-
pressed from ~ tor cents, with IA
vorable news of yield. although the
mills are now consuming with great
rapidity.
rhn lot Il - 80
reactions on Monday, but on Tuesday
thus far have been significant. After
the average of 60 active stocks had
risen 81 per share it fell SO cents in two
lays of reaction in June and then rose
again. After rising SIS more it fell IL
cents August g. then rose another dol
lar, and had serious reaction of so
cents on the 18th, but was higher than
ever within week. August 24 and 25
it fell 25 cents, but it then rose S.
more. September 13 its reaction aver
aged 25 cents, and it has since ad-
vanced $1.07.
The iron industry again shows in
creasing demand and an average of
prices nearly 1 per cent. higher, due
to purchasing by consumers. Buying
of 100. 900 tons bessemer pig at Pitts
burgh, has advanced the price to SO;
gray forge is hard to find there at $9.15,
and billets sell at Sra5 so, with output
incresed to 122, 431 tons weekly.
Textile mills are more fully en-
ployed than at any time for years.
Though new buying has diminished in
amount and though while the number
of orders received is still large the
amount is smaller, the demand is still
very good for the season and prices are
firm throughout with some further ad-
Vances.
Failures for the week have been 204
in the United States, against SIT last
year; and 40 in Canada, against 50 last
year.