The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-10-16
HEAVY DEMAND FOR IRON
Was the Feature of the Weeks
Trading.
LARGE CONTRACTS NOTED
Cotton Mills Producing Heavily With Moderat
Demand Two Views Of the Cotton Crop
Wheat Movements Very Great.

Wheat Movements Very Great.
New York. Oct. 15.-R G. Dun & Co.'S
weekly review of trade will say tomor-
row:
Foreign trade in September the heavy
increase in iron production and con-
sumption. largest payments through the
clearing house ever known, are indica-
tions of an improved condition in some
markets. The advance in wages of labor
have increased, with increases each
week of number of hands. and at every
point where actual production can be
tested it appears greater than ever be-
fore. Efforts by the Bank of England
haye delayed further gold exports, but
with cotton movement rising, large
shipments to this side are deemed GER
tain and not distant. More gold, how
ever. means less just now and more
iron.
The output of pig iron Oct. was 2O0-
1913 tons weekly, against 112,7S2 a year
ago, the increase since July 1 having
bsen % per cent. Unsold stocks have
been reduced at the rate of 40,271 tons
weekly in September, indicating a con-
sumption exceeding $4,000 tons weekly,
hi tie
before and 40 per cent greater than
three months ago. Prices of pig hold
steady, though the production had been
further increased since Oct. l. and prices
of finished products gradually rise. with
especially heavy demand for plates,
rods, bars, while another contract has
been taken by the Illinois Steel COM
pany to deliver 10000 tons of steel rails
for Japan and the Pennsylvania compa-
ny has bought $4,000 tons.
Ore shipments on the lake surpass all
records. The Rockefeller company has
contracted for another steamer with
two consorts to carry 10000 tons, the
largest ever built for the lakes.
Makers of black sheets have raised
the price for No. 2S to $40 and wire
nails are cents higher, the average
of iron and steel products rising 6. per
cent for the week to the highest point
since April 1888. Tin plates are cheaper
at 1910, with enormous production, and
copper at Hip cents for lake, with lead
at $40, but tin is fairly strong.
The cotton mills are producing as
largely as cheap cotton invites, and with
moderate demand print cloths are lower
at 2.44 cents, and some grades of other
goods are slightly reduced. Sales of wool
for speculation have greatly decreased,
but manufacturers do not find that cur
rent prices are warranted by their mar
lxet for goods, though 1t IS strong and
advancing Sales of wool for two weeks
have been 24,SS1 800 pounds at the three
chief markets, of which 1887 $3.50 were
domestic and while quotations are main
tanned large lots previously withdrawn
by consignors are now offered. The de-
mand for spring goods is limited but
the prices of some qualities have adj
some quiet contracting already for heavy
weights
Wheat has been fairly steady, but
moving more largely than last year
from the farms and from the country
western receipts were 15,167,O54 bushels
in two weeks of october, against 14,235-
DIG last year, and Atlantic exports 6,463,-
401 bushels (iour includcd) against A.
747,S45 last year, while corn exports were
s,262, sS7 bushels, against S,SO9,92o last
wear. September exports of wheat sur
pass all records, amounting to 25S6S,S3S
bushels, against 17,646,S15 last year. ow-
ing to high prices, the value being over
100 per cent. higher for all breadstuffs
The price of wheat has declined &c. and
corn 1c, with the government report of
a yield exceeding l,SOO,O 900 bushels.
Cotton has declined 3-16th to 6.3l cents,
for some authorities of repute having
published an estimate that the yield
would be 100000 bales, but the move-
ment is yet retarded by the fever
Failures for the week have been 22S in
the United states against 3S3 last year,
and 3S in Canada against 40 last year.
Bradstreets Review.
New York, Oct. 15-Bradstrset's to-
morrow will say
The activity in staple lines of merchants
disc is l.ss pronounced than a month
ago, due to interior merchants having
gradual increase of the territory in