Omaha daily bee., 1897-07-24
OUTLOOK IS ENCOURAGING
End Of Uncertainty on Tariff Duties Gives
Confidence,
BOTH SIDES APPEAR TO BE SATISFIED
Unusual rise In the Price of wheat
Has IA solid BASIS In the
Demand for Ccrcnls
Abroad.

NEW YORK, July 2S.-R. c. Dun & Co.'S
Weekly Review Of Trade tomorrow will
say:
The end OF uncertainty regarding duties on
imports gives greater confidence alike TO those
who have opposed and those who have favored
the change. The great change In stocks, par
licularly in those OF the granger list, reflects
assurance ut heavy crops. The remarkable rise
ia wheat, Notwithstanding that assurance Is
h1sod on heavy buying for exports, viii ee
large There must Ice added another element OF
confidence scarcely observed a week ago. The
heavy increases in receipts Of gold, whether
from one side u the Alaska border or the other,
swell deposits at the minis and in the banks OF
this country. and IL the yield from the new re-
gluns answers current expectations It may have an
influence akin to that ot gold discoveries in
California, The one rctardtug force, the strike
OF coal miners. has caused the closing Of a few
manufacturing works for want of fuel. but ucgp.
%ttattons for settlement are still pushed with
hope.
The wheat market is the sensation Of the
month. Since July Is the price had risen II cents
10y Wednesday, when a reaction Of I cents was
not surprising, but the close was asC higher for
the week. 1t is notable that this rise came in the
race OF highly encouraging crop news, which il
not disputed, and had for support nothing but
foreign conditions and demand. Actual buying
for export has been at times heavy. and loading
which usually contribute to European supplies
greatly strengthens the impression, produced by
continental reports. That there ia speculative
handling behind the great advance Is evident,
and the buying FOR export has not yet reached
in Atlantic exports quite as large as last July,
TO- date 4'6S2, 40 hu: flour included, against
1861, GIG last year. Western receipts, 5,2i2, al
bu' III July, against lu,2to,20i last year, indicate
concerted delivery Of shipments, which. however.
rarely withstauds the influence of a substantial
rise, Corn exports are still heavy, 6,63j. 3gj bu.
in July, against =. i2i. 500 last year, which per-
maps reflects moro certainly than the wheat
move ment, the actual conditions abroad.
Both because Of the season and because of
the pending action on the tarin. industrial OBJ
%erations are waiting. and yet with an improve.
ment which under such circumstances Is sig
niticant. The half yearly production Of pig iron
exceeded that Of the last half Of 1896 by Ij6. $50
tons, but outside the great steel companies
there is little activity at this time, though
they are increasing their output. The Illinois
Germany, a New York sale of hoops for eN-
port to Manchester is announced, and additional
orders for Pennsylvania iron bars to England,
Bessemer pig iron Is al shade lower. with other
quotations unchanged. but the demand for
plates. sheets. pipe and structural work Is grow.
ing. Minor metals are in better demand. tr
at $l3.95 and lead at 81. Ii, and copper is sus.
tanned at Sll.l2le for lake exports, though the
June production was 1888 tons. and that OF
the hald year los, go tons. There is "A genera
advance in boots and shoes. averaging abou'
III per cent. with n larger demand as dealer.
changed and hides at Chicago average 2 pei
cent lower.
The textile industries have lost no grOunt
as the curtailmrnt of production in cotton fo
n time Ia really "A gain. The demand has some
what increased, but the accumulated stock o
buy can be expected. The demand for woolen
increases as to the low ana medium grades
with reported large sales at advances of 3 T.
10 per cent over last spring, Speculative sale
Of wool continue large and prices are Yer!
strong, especially at the west.
Failures for the week have been 2gI in tn
United states. against ISL last year, and ?
In Canada against % last year.