The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-05-11
TRADE HOLDS ITS own
Encouraging State of Things Are
Shown by Reps rts.
WEEKLY REVIEW orr. G. DUN & co.

April Sales Are Only 10 Per Cent. Less
Than for the Same Month In 1S02-Con-
sidering the Fall I'm Prices This Is "a Good
showing-Decrease I'm the Number of
Failures-Cotton Prospects Are BETTER
Wheat and Corn.
New York, May 10.-R. c.. Dun e. Co.'S
Weekly review of Trade says: Neariy'
all will be astonished to learn that act
ual sales in April by leading houses in
each line of business in the principal
cities east of the Rocky mountains
average only about 10 per cent. less
than in April, 1892. the only year OF
the largest business hitherto, and were
per cent. more than i'm the same month
last year. Yet this is the summary Of
| 251 reports. each covering actual sales
Of leading merchants in a line of bust
ness in one of fourteen cities. They
are especially encouraging in view Of
the great fall of prices within the five
years and with exceptional floods and
other rctading influences this year.
While speculative business in nearly all
lines is small, and does not swell clear
ing house returns, as in previous years,
the volume Of legitimate trade shows no
corresponding decrease and the fact is
one of the highest Importance in all
| business calculations.
Decrease in Failures.
Moreover, returns Of failures for April
by branches Of business, given only by
| the mercantile agency, show decrease
| IL number, amount. and average of liza
biiitles in almost every branch of trade
and in nearly all branches of manu-
facture except cotton although failures
of five New Bedford mills for 1880, 734
| make the total defaulted liabilities for
| the month 40 per cent. larger than last
! year, 60 per cent. larger than in 1895,
| and 80 per cent. larger than 1894. The
value of reports tracing failures to par
| ticular lines of business is impressive
ly illustrated. Crop prospects are little
better for cotton because Of the passing
of foods and the increase of acreage
elsewhere and for spring wheat because
| the customary accounts of injury to
winter wheat begin to appear and
stimulate larger sowing of spring wheat
as usual. Western receipts continue
larger than last year, 2,34S, sos bushels,
against 2.2OS,972 bushels, and Atlantic
L
1885 bushels flour included, against
1,40, 1877 last year.
| The Wheat Market.
| The weeks reports of corn, 2,725, 043
bushels are smaller than in other recent
weeks. The wheat market declined 2
cents until Tuesday and then rose one
and one-half cents. Liverpool specula-
tons lifted cotton to IA cents, but it has
lost a sixteenth and the consumption
in manufacture does not appear to be
increasing. The demand for cotton
goods since November, nor the great
auction sale has yet sufficed to reduce
the surplus of goods. Print cloths are
again lower at 2.44 cents, the lowest
point ever reached in previous years,
and though some kinds of goods have
found sufficient demand to advance
| prices little, the expectation of better
prices and larger consumption in future
still seems to push the mills to exceed
| present wants. The same is true of
[ wool manufacture in many branches
for orders and sales thus far do not call
for as large production as appears.
though it is yet much below the maxi
mum, but the increasing demand has
been encouraging.
Less Sure of Early Profits.
| Sales of wool, at prices firm but no
longer rising, fall much below recent
| records, indicating that spectators are
| growing less sure of early profits in
view of enormous supplies On hand.
At the three chiefs markets they were
S.025,200 pounds, of which 5,744,600
| pounds were foreign, and in five weeks
| the sales have been 40, 49,, $50 pounds,
| against 23,327.100 in the same weeks
! OF 1892, when the mills were well en-
ployed. The anticipation of better prices
and great increase in demand pushed
| production so far in iron and steel man.
| ufacture that four furnaces IN eastern
Pennsylvania and others in the Pitts
burg region AMI Ohio have stopped. Bes-
semer pig at Pittsburg has declined to
] $9.40 and gray forge to $S.40 pressure
to sell billets lowers them to $14 tank
steel plates have sold below l cent. and
common bars at 80 cents per 100 pounds,
with black sheets in light demand at
! $3.50 for No. %.
| Structural Works Well Employed.
| Yet the structural works are well
| employed on old orders with others COM
ing in one of 10000 tons for the Montreal
| bridge and others at the East and at
J Chicago The rail works are all busy
| on orders taken months ago, though
there are efforts to revive the pool. One
contract for 10000 tons steel plates is re-
ported and some of the tin plate works
| are sold ahead for the year. The visi-
BILE supply Of tin has increased 5000 tons
in April and the price Is a shade lower
at 1925 cents The heavy sales of lake
| copper are believed to cover some large
| consumers for most Of the year. Fail
| ures for the week have been 221 in the
United States, against 23S last year. and
thirty-six in Canada, against twenty
| four last year.
| Train Goes Through Bridge.