The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1897-08-28


stendlness which Is Most Crafty
ing-Reaction In Speculation Does
Not Anect Industries.
New York, Aug. 2S-R. G. Dun c
Co.'s weekly review of trade says:
Speculative markets have their turns
of reaction, but business has none this
season, gaining with a steadiness which
is most gratifying. The starting Of
works. increase in hands employed, ad-
vance in wages and in prices of pro-
ducts. and the heavy movement OF
crops are facts before which all specu-
lative influences have to bow. The
weeks dispatches mention 16 iron
works which have started, against one
closing; 15 wooden works starting, and
so on in many other branches, while
many more works have increased their
force and many are preparing TO re-
sumo and some have increased wages.
While these things continue - with
grain rising and going abroad in enor-
nous quantities-money markets have
reason for aboundlng confidence and
speculative markets for strength. Crop
prospects are contradictory, as usual
at such a time, but It is noteworthy
lildl iOit VI liltHl AlluACdAG any lAllAAt1
less than an ample supply of the great
staples.
Wheat rose over cents Saturday,
with exaggerated reports Of injury fell
nearly cents, advanced 4 cents, and
then declined sharply, closing cent
lower for the week That some harm
was done to spring wheat in three
states appears, but no accounts en-
i a. do rn o.
ducing the yield below $40, 600 bush
els. which would be 5000 900 larger
than any other crop except that of 1891
Receipts of corn bear strong testimony
to the seriousness Of foreign needs
being 6S4O,144 bushels for the week,
against 2S1S,619 last year, and At
lantic exports in four weeks have been
10, 466, AIS bushels, against 5,617,1 40 last
year. The price rose 1b cents for the
week.
Sympathy with other markets, rather
than reports of injury, which capable
authorities deem not important, ac-
counts for the advance of three-six-
teenths in cotton. But the mills are Ee-
sumng work with a rush, and VIII re-
quire heavy supplies of material to
meet the large demand for goods
which has advanced the prices of many
A general replenishment Of stocks by
dealers will call for heavy additional
supplies. The wool market also re-
| fleets greater strength.
At last demand has so far overtalSen
capacity OF iron works that prices are
| growing stronger. Bessemer and grey
forge % cents higher at Pittsburg, and
! pig In eastern markets as much strong
/ az M annppGGinng are
stopped The advance in iron and steel
! prices average 81 per cent for the week.
Bradstreets' review says The gem
eral trade situation continues to i'm
| prove, and aside from the unnoces-
sarily prolonged strike Of the soft coal
miners there is little in sight to cloud
the outlook The feature of the week
is the advance in prices of almost all
leading staples, beginning with an up
ward movement all along the line in
iron and steel. Steel billets are now
$3.50 above lowest figures, bars $150,
rods SO and plates 81. Bessemer pig
iron is up % cents and foundry a like
amount Southern irons are very
strong, on a continued active export
movement. Where wire mills have not
advanced prices they have withdrawn
|
Bradstreets' points out that the
statistical position Of wheat is the
strongest known since the United
States became a considerable exporter,
and that it's price as well as that for
bread, is likely to materially exceed
the present weeks advances. Follow
Ing that for wheat prices are higher
for flour, corn, oats, lard, po-
tatoes, butter, eggs, beans, cheese.
leaf tobacco. wool and live stock. Ad-
vances for leather, hides, lumber and
linseed oil are also reported.
There are 30 business failures re-
ported throughout the United States
this wccE. against 221 last week, 800
a year ago, 1870 two years ago, 1872 three
years ago and 3G9 in the corresponding
| week in 1898.