The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-08-30
IRON WORKS RESUME.
Sixteen Started Up During the
Past Week.
BUSINESS SKY IS VERY BRIGHT.


Indicate an Ample Supply of the Great
staples-Money Markets Have Reason for
Full Coniidence-Iron Prices Stronger
Failures of a Week.
New York. Aug 30.-R. G. Dun & Co.
In their Weekly Review Of Trade say
Speculative markets have their turns OF
reaction, but business has none this sea-
son and is gaining with a steadiness
which is most gratifying. The starting
OF works. increase in hands employed,
advance in wages, and in prices of prod
ucts, and the heavy movement of crops
are facts before which all speculative
influences have to bow. The weeks
dispatches mention sixteen iron works
which have started against one closing;
fifteen woolen works started, and so on
in many other branches, while many ore
works have increased forces and many
are preparing to resume. and some have
increased wages. While these things
continue-with grain rising and going
abroad in enormous quantities-money
markets have reason for aboundng con-
fidence and the speculative market for
strength.
Crop Outlook Good.
Crop prospects are contradictory. as
usual at such a time, but 1t is note
worthy that none of them indicate any
thing less than an ample supply of the
great staples. Wheat rose over cents
on Aug. Il with exaggerated reports
of injury. fell nearly cents, advanced
cents, and then declined sharply, clos
i.,n~ MI
some harm was done in three states ap-
pears, but no accounts entitled to re-
spect indicate damage reducing the yield
below $40, 900 bushels, which would be
COO bushels larger than any crop
except that CT 1891. In spite of great
lack Of cars, wheat receipts were 4,349,
59i bushels for the week. and for four
weeks. 15.5S9,6S1 bushels; against a.
S96,947 last year; and Atlantic experts.
-four included. though somewhat
checked by higher prices, were 956S,S69
bushels for the week, against 2207,5
last year and for four weeks 1887 ,6S7
bushels. against 7,310.177 bushels last
year Receipts Of corn bear strong tes-
timony to the seriousness of foreign
needs. being 6,S4O144 bushels for the
week, against 2,S13,91 bushels last year,
and Atlantic exports in four weeks have
been 10466,47S bushels. against 5,61I1lo
bushels last year. The price rose rs
cents for the week.
Cotton and Wool Improve.
Sympathy with other markets rather
than reports of injury, which capable
authorities deem rot important. account
for the advance of 1916 cents in cotton.
But the mills are resuming work with
a rush. and will require heavy supplies
Of material to meet the large demand
for goods, which has advanced the prices
of many general replenishment of
stocks by dealers will call for heavy ad
ditiona supplies. The wool market also
reflects in greater strength the further
advance in some grades the heavy buy
ing Of woolens, which has set many
mills at work night and day. and caused
makers of many grades to withdraw
them entirely from the order market.
But while the mills have been buying
somewhat more, most Of them hold large
stocks, and the trading has been mainly
speculative between dealers. At last
demand has so far overtaken the ca
pacity of iron works that prices are
growing stronger. Bessemer and gray
forge are % cents higher at Pittsburg,
and pigin eastern markets is much
stronger because rebates and conces-
sions are stopped. Billets are 81 per ton
higher, structural angles, bars, and
plates about as M 8 rode $50 at s2O
and wire nails 3 cc per keg higher.
sheets Very Active.
The demand is also heavy for mer-
chants pipe and stsel. and sheets are
very active. The advance in iron and
steel prices averages 81 per cent. for
the week Buying of ore continues
very heavy, 100000 tons in two weeks
at Cleveland and among the iron works
starting are four more furnaces. While
tin is weaker at 1915 cents, with large
arrivals, copper is held at liz cents for
| lake by large orders and deliveries. and
| lead is scarcely obtainable below 4
cents. sales having been heavy. Con-
nellsville coke works increased output
to 1854 tons for the week Hides are
| again stronger at Chicago, though pack
ers no longer lead, but country hides are
| called scarce, although cattle receipts at
| the four chief markets, 151, 400 head. are
l the largest for the corresponding week
since 1892 The failures for the week
( have been 223 in the United tSates.
against 2sS last year. and thirty-four In
Il