The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-07-29
IN THE WORLD OF BUSINESS
BRADSTREET'S AND Dun K co.'s
REVIEWS OF FINANCE AND
COMMERCE..
THE future BR|GHTENS GREATLY
Remarkable Rise in wheat, Not
withstanding the Enormous Crop.
Outlook at Distributing Points
Is Very Promising.

New York, July pr. G.. Dun Il Co. S
weekly review of trade tomorrow will
say:
The end of uncertainty regarding du-
ties on imports gives greater confidence
alike to those who have opposed and those
who have favored the change. The great
strength in stocks, particularly in those
of the Granger list, reflects assurance of
heavy crops. The remarkable rise in
wheat, Notwithstanding that assurance is
based on heavy buying for exports, and
indications that the foreign demand would
be large To this must be added another
element of confidence scarcely observed
week ago. The heavy increase in re-
ceipts of gold, whether from one side of
the Alaskan border or other. swelled de-
posits at the minis and in the banks of
this country and if the yield from the re-
gions answers current expectations it may
have an effect akin to the gold discover
les in California. The one retarding
force the strike of coal miners, has caused
the closing of few manufacturing works
for want of fuel but negotiations for
settlement are still pushed with hope
The wheat market is the sensation of the
hour. Since July 2 the price has risen
II cents up to Wednesday, when Il reac-
ton of 4c was not surprising, but the
close was 5-Sc higher for the week
Actual buying for export at the time has
been heavy and loading of cargoes here
and in California for countries which
usually contribute to European supplies
greatly strengthens the impression pro.
duced by continental reports. That there
is speculative handling behind the great
advance is evident and that the buying
for export has not yet resulted in Allan
tic exports quite as large as last July
to date 1862. 40 flour included against
ceipts, 5.2j1,271 bushels in July against
1929, 527 bushels last year, indicate the
concerted delay of shipments which. how
ever. rarely withstands the influence OF
Il substantial rise.
Both because of the season and because
of the pending action on the tariff, indus
trial operations are awaiting, and yet
with an improvement which under such
circumstances is significant. The halt
yearly production of pig exceeded that
of the last half of 1896 by 756.5S5 tons
there is little activity at this time, though
they are increasing throughout. The IL
linois company has sold basic steel fol
export to Germany, Il New York sale OF
hops for export to Manchester is an
nOunced and additional orders for Penn
sylvania iron bars to England. Besse
mer pig is Il shade lower. with other quo
tations unchanged, but the demand fO
plates, sheets. pipe and structural wOrl
is growing. Minor metals are in bette
demand. tin at $13.95 and lead at $l.35
and copper is sustained at II 1-Sc fO
lake exports. though the June production
was 1858 tons and that of the hal
year 10S.651 tons.
There is a general advance in boots ant
shoes. averaging about l ID per cent
with larger demand as dealers lose hop
of their prices. but leather is unchanged
and hides at Chicago average = per cen
lower The textile industries have los
no ground. as the curtailment of produc
ton in cotton for time is really Il gain
The demand has somewhat increased. bu
the accumulated stock of goods must b
reduced before Impotence to buy can b.
expected The demand for woOlenS in
creases to the lowest medium grades, witt
reported large sales at advances of t
10 per cent over last spring. Specula
tive sales of wool continue large an,
prices are very strong, especially at tn
west.
Failures for the week have been 90
in the United States against 2S1 last yea
and % in Canada against % last year.