The herald., 1897-07-17
Dun & Co.'s Reviews


NEW YORK. July 16.-R G. Dun &
Co.'s weekly review of trade will say to-
row: Excepting the great coal miners
strike. which may terminate at any time
there is scarcely a feature of the business
outlook which is not encouraging. the sea-
son considered. Crop prospects have been
improved by needed rains in some regions
and foreign advices continue to promise a
large demand. In many home industries
particularly in building. there is more
activity than any year since 1892, and the
week has brought better demand in
boots and shoes and in woolens, while the
movement of freight, mainly iron ore,
through the Sault Ste Marie canal, is the
largest in its history. With money mar
kets unclouded, there is nothing in sight to
hinder rapid Improvement, when uncer
tainty about legislation has been removed,
for the miners strike cannot last long, and
business and Industries should become
active. There is much essapprehension of
a failure of the fuel supply than there was
during the first few days, when prices
rapidly advanced and large quantities of
coal from West Virginia have reached
northern markets, but some of the miners
in that state have struck.
The advance in wheat to Sis cents was
not due to the government estimate which
was followed by a decline, but to the for
eign advices and considerable buying for
export. Demand is already felt for Aus
tralia, South Africa, Brazil and even Ar
gentina, while the promise for European
crops is not considered bright. The dis
position of farmers to keep back wheat
for higher prices may affect the outward
movement but Atlantic exports during
July, flour included, have been S,115, 44S
bushels, against 1854, 900 last year, although
in the same weeks 1859, 500 bushels of corn
went out, against ,574 900 last year. Wheat
closed cents higher for the week and
corn Il cent higher. Speculation in the
wool market continues, with prices at all
points stronger, Boston advancing, with
signs Of a boom among dealers. in which
manufacturers are taking little part at
current prices, and at the west, where
holders are looking for a general advance.
Imports at Boston were 1862 bales in Two
weeks, and dealers are said to have bought
100 900 bales more in London. Sales were
TO- 452 800 pounds at the three markets for
the week. and 24,452,300 pounds in two
weeks, of which 1850, 200 pounds were 90
nestle. The output of iron furnaces July
10th was 164064 tons weekly, against
| 16S, $50 June list, and the output is large for
| the season. Presumably an unprecedented
share of it is to supply the great steel
companies, which are even now putting
| more furnaces into blast, and have heavy
orders taken when prices We're dropped
while the demand for structural Shapes
| and plates is large and for bars improving,
| though steel bars are now at the lowest
quotations ever known In Pittsburg Stag
50 cents, with Bessemer pig quoted slightly
| lower. Tin plates are also lower, at 3.lO
| for full weight and less than 50 in paid Tor
| 100-pound boxes.
| Failures for the week have been 26S in the
United States, against 29O last year, ana
| q in Canada, against 80 last year.
Bradstreet's Reports
NEW YORK, July 16-Bradstreet's re-
view OF general trade tomorrow will say:
The dullest month in the industrial year
is duller than usual, Notwithstanding inn
provement among potters and others. rms
is due to reaction in iron and steel, prices
of which are back to the lowest points on
record, dragging demand for 0othing and
shoes and a threatened famine of bitumin-
Gus coal. There are more coal miners out
than at this time last week, and notwith-
standing assertions that arbitration will
| end the strike in the near future some of
| the large operators in the Pittsburg dis
| trict declare there is nothing to arbitrate.
Manufacturers of cotton goods and their
agents report trade slow. owing to the cost
| of cotton and low prices for goods. This
| has shut down number of cotton mills in
Massachusetts and Rhode Island. A fairly
steady business is reported by the eastern
manufacturers of shoes, but this trade at
Philadelphia is dull, merchants hesitating
| to place orders. Western wholesale deal
| ers in clothing report distribution unsatis-
| factory. Western bar iron mills are already
shut down, and if the coal strike lasts an
other week thousands of factory wheels
will stop turning. This checks the stronger
and more confident feeling in industrial
circles, which was so pronounced fort
night ago. The heavy loss Of sheep in
| Australia, due to drouth, and speculation
in wool on tariff prospects have made wool
prices higher with large sales, about 1,000,-
900 pounds at Boston alone, compared with
100000 pounds in the like week last year.
The worlds available supply of wheat is
probably the smallest at like period in
many years. Europe is expected to have to-