The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-02-15
CONDITION OF TRADE.
,,..LIv Review of R. G. Dun q
ws1 Co.'S Commercial Agency.
,,s.,rprroS OF STEEL RAIL POOL.

rv.,t of the Week Approaches
:, an Importance--Immens ra''""s''
-, from the Cut I'm Price to Si7-
.date Employment to Many ih""-
a, Men In the Various Trades VIII
c,ven-print Cloth situation.
vorl, Feb 15.-R. @. Dun q Co.'S
,,,oor,v Review of Trade says: NO oth-
o,ent of the week approaches IN I'M
- the disruption Of the steel ran
In two days after 1t greater
Pee of rails was probably pur-
- than the entire production last
.sar reported as 100000 TONS ana IN
800 ',ood Of SIS in December and $40 In
,orparv. ST. is now the price at whicn
.,,s east and west are seeking orders,
~ carnegie company even selling at
49, chicago delivery. These sales VIII
.n,ov many thousand hands. with an
,r,nortant decrease in the cost Oh track
,.,,,re or renewals to railroads.
ryen more important is the result
~, reconstruction of the billet pool
udu he impossible as long as the contest
a,or rails continues, and the manufact-
.,.or Of structural forms, bars, rods,
wire nails, tinplates, ana many otner
nroducts has a chance to secure mate
rial in the near future. Also importah,
- tho struggle between the two great
companies producing Mesaba iron ORE
one allied with the Illinois steer WORKS
and the other with the Carnegie com
nanv. which is expecting to bring about
lower prices for ore, and to push many
mines to their utmost capacity. But In
the war of rival interests wages are
being reduced by some concerns.
Cotton Market Depressed.
Another event of influence is the pur-
chase of 100000 pieces of print cloths
Inv NJ. C. u. Borden at 2.56 cents, which
has already caused an advance to 2.69
cents with a stronger tone for prints
and other cotton goods. The moral IN
Auence of such purchase, manifesting
confidence in the future, is apt TO be
great. AS the contract to shut down
mart time many mills producing print
cloths is going into effect the productive
capacity and wages of operatives Will
he for a time reduced, but If demand
of traders to replenish stocks is started,
the effect may be altogether beneficial.
The wooden industry also meets an
increased demand for low and medium
goods. and a dozen more mills have
started against three stopping for va
rious reasons. Clay mixtures are re-
duced to rs cents, with other prices
maintained. Except in steel rails
changes in iron products have beer
slight advance in gray forge, wire
and cut nails. Competition reduces
American tin plates to $500, agains
$500 for foreign. Tin and copper arr
steady, but lead is stronger at $327h.
Speculation in products has hardll!
been more active than Of late. ant
prices generally tend downward. Whea
rose 1 cent to Tuesday, but has sine
declined 2.37 cents. Western receipt
are increasing, but for two weeks hav
been only S191, 1896 bushels, against 3,
S23,21S last year. while Atlantic export
flour included) have been for the wee
about a quarter larger than last yeal
and for two weeks 1855, bushels
against 3,63s,12 bushels last year.
Print Cloth situation.
About every week some new specula
tive guess by somebody impresses man
traders more than the current record
of actual movement The cotton maj
ket has been depressed in like mannt
by Mr.. Ellisons estimated that til
American crop would prove S,650,0'
bales, but the quantity coming int
sight has also surpassed previol
guesses, and indicates larger crC
than most spectators estimated. III
curtailment of consumption in the mil
ie alt
mate it, since probably not more tha
fifth of the spindles will be stoppe
a third of each week, for a quarter
the year. The price declined only IL
cent for spot, but over u for Il
May option.
Failures for the past week have be-
267 in the United States, against 3
last year, and 81 in Canada, again