The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-02-27
GUMS COMMERCIAL REVIEW

OONS REVIEW.
More Hopeful View than Since Early In
observation-disclosures Increase in Iron
Steel, Covering Eight to Twelve Months
Production of the Largest WOrks-Bet.
ter Prices for Wheat, Cotton, Wool and
Iron, Etc.
NEW YORK, Feb. 2O.-R- G. Dun & Co.
say to-day in their weekly review of
trade:
A large increase in iron and steel
business on account of sales covering
s to IL months production of the larg-
est works, a better demand for wooden
goods and slightly better prices for
wheat, cotton, wool and iron, and a
money market well adapted to en-
courage liberal purchases against fu-
ture Improvement in business, have
rendered the past week more hopeful
than any other since early in Novem-
Der. The heavy excess of merchan-
disc exports over imports in January,
the continuance of exchange rates
showing that Europe is still largely
indebted to this country on current
account, and the prospect that con-
gress will adjourn without any dis
turbing action, all have their favor
able influence upon the money market
and upon future undertakings.
In nearly every branch the great
iron and steel industry feels the up
ward impulse supplied by purchases
of steel rails, said to have been 500, 900
tons each from the Illinois Steel Co.
and from the Carnegie company, be-
sides some from other companies, in
part as low as SIS per ton, about 1OO,-
400 to foreign purchasers at $40 to SIS,
but all recent sales at $50 at eastern
and S2l at western mills. Nearly all
the great railroads of the country
have seized the opportunity to supply
themselves with rails for one or two
years requirements. These emo
nous orders have advanced Besse-
mer pig at Pittsburgh only Is
cents per ton; with gray forge d
shade lower there and no considerable
change appears in finished products,
although plates are unchanged in
price with good demand, and nails are
held at recent prices. The bar asso-
citation no longer controls anything,
and iron bars are quoted at Sl.05 per
100 pounds, while steel bars are quoted
at % cents per 100 pounds. Struc-
tural forms are steady, although lOO,-
900 to $50, 900 tons are said to be re-
CURED in New York this year, and
American tin plates are selling at
$500, which is 40 cents less than the
price for foreign.
The sales o. woods have sharply de-
clined. amounting to 7,+O9, 300 pounds
for the week, against 9,I57,9 300 for the
previous week, but owing to the heavy
transactions early in the month.
sales for three weeks have beer 80
100, 800 pounds, against 10, les, 700
pounds last year. The larger mills
have acquired full supplies for the
present, and at an advance of prices
they appear ready TO drop out of the
market. The demand for wooden
goods does not seem TO have expanded
materially, and no quotable change in
prices has appeared during the week.
The heavy exports in January, fol-
lowing the unprecedented excess of
exports over imports OF merchandise
in the previous foul months, are
largely due to the fact hat neither
the wheat nor the cotton markets had
been materially controlled by specula-
tion. Wheat dropped to 80. "a cents,
but rose to S3.25 cents, on con-
viction that the recent prices have
been low enough. The Atlantic eX-
ports, flour included, were only l,235,-
30 bushels for the week, against
I SIt, gnl Inst Vnar hut for I raa
weeks have been $3.50, All bushels,
against 5,4iS,429 last year. The
western receipts are still small, for
the week, only 1907, S45 bushels,
against 2,415, sos last year, and for the
past three weeks only 1863, 2iO bush
els, against S,3@S,7 III last year. Mean
while the western receipts of corn
have been well nigh double last years,
and for three weeks the Atlantic eX-
ports have been 6,3l7,2l4 bushels,
against ), pa, 500 last year.
Figures at this season do not count
for much in cotton, though large sup
plies and diminishing domestic de-
mand on account of the partial clos
ing of many mills have materially in
duenced the market.
The volume of business is not accu-
rately represented by clearinghouse
exchanges, owing to the extra holt
day this year at some commercial CEN
ters. The daily average appears to be
81 per cent. smaller than last year.
The railroad earnings begin to show
improvement, being 81 per cent.
larger than last year for the second
week of February.
Failures for the past week have
been BOB in the United States, against
$50 last year; and IS in Canada, agains
sc last year..