Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-03-16
STEP BY STEP.
Lasting Improvement in Trade
Can Come Only Slowly.
REVIEW SHOWS HOPEFUL FEATURES.
In Spite of Much Growth of Business
and Industrial Activity, Much
Encouragement IL Felt
by the People.
New York, March 13.-R. G. Dun &
Co., in their weekly review of trade, say:

New 4Ork, MarCn 1o.-h. ". Dun o.
Co., in their weekly review of trade, say:
Cotton and Wool.
Cotton is not active, though sixteenth
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 that the tone is
weak. The speculation in wool continues
and sales for the two weeks have been
17,903,9 600 pounds, whereas the largest pro-
vious sales for the same period were 49,
017,e76 pounds in 1892. While there is much
trade between dealers. manufacturers
show by purchasing far beyond their pres
ent wants the belief that larger business Is
coming.
The Iron Industry.
Iron furnaces March were producing
1896 tons weekly, 1927 tons, or four per
cent, more than February l, and although
visible stocks have increased S0.0A tons
in four weeks, still more furnaces have
started this month. The demand for fin
ished products still lags behind the supply
Of pig iron, except in the great steel works
whose stocks are not reported, but their
orders without doubt cover full production
for several months. Bessemer pig is q
shade lower but no other change in quo
tations appears, and there is gradual in
crease in the demand for plates. sheets
and all the wire family of products. With
the advent of spring weather and outdoor
work much more business is expected. The
starting Of the Maryland rail works under
contract with the Carnegie company, in
order to make shipments by water moro
cheaply, is significant.
''It Is curious Illustration of human
nature, this continued Encouragement even
while the increase Of productive industries
and Of legitimate business steadily grows.
No genuine or lasting improvement could
come otherwise than slowly and step by
step, after such depression as the past
four years have witnessed, and the most
hopeful feature of the situation Is that
the gain Is SO nearly devoid of elements
which involve unsoundness and probable
reaction. The money markets continue es-
pecially favorable to industrial recovery,
and there Is no such speculative epidemic
as to lock up an excessive share Of avail
able capital.
Supply of Wheat.
1.-THE annual statement of wheat in farm
ers' hands March / has not in the least
stimulated speculation. Those commonly
considered worthy of attention indicate
that farmers and commercial supplies to-
gether, 1856 900, 900 to 200 900. 900 bushels, ex-
coed the outside estimate of home demand.
13O,000,000 bushels to July /, 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,S94SS8 bushels, against 1851. AIS last
year. Wheat exports from Atlantic ports
in two weeks have been 2,431,747 bushels,
against 2.921,097 last year, and although
western receipts are but 3.451. 1863 bushels
for the two weeks, against 4, 567, 1892 last year,
they are still SO large for the season as to
discredit alarms about speedy exhaustion
of the supply. The price has declined 81
cents for the week, and corn Is also frac-
ton lower.
The Railways.
1.-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 Inn
portant relief and tends toward greater
harmony Of coal interests for the future.
At the same time the reduction which will
of anthracite coal looks toward a larger
demand and better employment In the
future. The reports made to date of rail-
road earnings In February covers S1,15t
miles, as per cent. of the total mileage
Of this country, and the United States
roads alone show earnings in that month
of s30,3S3,165 only a tenth OF per cent.
less than last year, but 1913 per cent. less
than in 1898. The Mexican roads, in most
Per cent, and therefore render returns
as to the United States somewhat mis-
leading. March earnings thus far reported
show an increase Of 3 per cent. over last
| year and the tonnage west-bound, as well
| as the better class Of east-bound tonnage
is gradually gaining.
1.-The volume of business shown by clear.
ings ia but 1.S per cent. smaller than last
year. Failures for the past week have been
256 in the United States, against 800 last
year. and 81 in Canada, against 60 last