The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-03-20
pUN's COMMERCIAL REVIEW.

NEW YORK. March 13.-R. 6. Dun &
Co. say to-day in their weekly review
of trade:
1t is a curious illustration of Ameri-
can nature, this continued discourage
ment, even while the increase of pro-
ductive industries and of legitimate
business steadily grows. No genuine
or lasting improvement could come
otherwise than slowly and step by step,
after such a depression as the past four
years have Witnessed; and the most
hopeful feature of the situation is that
the gain is 50 nearly devoid of elements
which involve unsoundness and prob
able reaction. The money markets
continue especially favorable to indus
trial recovery, and there IS no such
speculative epidemic as to look up an
excessive share Of available capital.
The annual statement Of wheat in
farmers hands March l has not in the
least stimulated speculation. Those
commonly considered worthy of atten-
ton indicate that farmers'and CONNER
cial supplies together-196, 900, 600 to
2O6, 900, OOO bushels-exceed the outside
estimate of home demand, 80, 900, 600
bushels to July l, by much more than
the quantity likely to be wanted for
export in view of the continued outgo
of corn, amounting for the past two
weeks to 6,S94,S SS bushels, against
1,5g1,4 as last year.
Wheat exports from Atlantic ports
in two weeks have been 2,431, TAT
bushels, against :, 921, 097 last year, and
although western receipts are but
3,45l 1863 bushels for the two weeks
against 1867, 1872 last year, they are
still so large for the season as to dis
credit alarms about speedy exhaustion
of the supply. The price has declined
81 cents for the week, and corn is a
fraction lower.
Cotton is not active, though a six
teenth higher, for the curtailment of
consumption by many mills does not
yet help prices in the least, nor the
suspension of print cloth reports, and
dealers so generally hold back orders
for other goods hat the ton is weak.
The speculation in wool continues, and
sales for the two weeks have been
IL, 903, 900 pounds, whereas the largest
previous sales for the same period
were H. ,676 pounds in 1892. While
there is much trade between dealers,
manufacturers show, by purchasing
far beyond their present wants, the be-
lief that larger business is coming.
Iron furnaces March l were produc-
ing 1863, 966 tons weekly, 1927 tons, or
Con-. uon+ thnr Eahr,Iar- 1
and although visible stocks have in
creased 1924 ton in four weeks, still
more furnaces have started this month.
The demand for finished products still
lags behind the supply of pig iron, ex-
cept in the great steel works whose
stocks are not reported, but their orders
without doubt cover full production
for several months. Bessemer pig is a
shade lower, but no other change in
quotations appears, and there is grad
ual increase in the demand for plates,
sheets and all the wire family of prod
ucts. With the advent of spring
weather and out door work much'more
business is expected. The starting of
the Maryland rail works under con-
tract with the Carnegie company, in or
der to make shipments by water more
sheaply, is significant.
The chief events in the railroad
world have been encouraging. The
transfer of the Lehigh Valley to the
control of the Morgan and DreXel
houses promises important relief and
tends to greater harmony of coal in
terests for the future. At the same
time the reduction which will be an
nounced to-day of % cents in prices of
coal looks toward a larger
and better employment in the
the future.
The reports made to date of railroad
earnings in February covers $3.50
miles, 10 per cent. of the total mileage
in this country, and the United States
roads alone show earnings in that
month of $50, 1888, los, only a tenth of
one per cent. less than last year, but
los per cent. less than in 1898. The
Mexican roads, in most tables in
show an increase of 2S.S pers
cent, and therefore render returns as
to the United States somewhat mis-
March earnings thus far re-
ported show an increase of 80 per cent.
over last year and the tonnage west
bound, as well as the better class of
tonnage, is gradually gain
Failures for the past week lave been
256 in the United States, against 800
last year; and 81 in Canada, against go
last year.