The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-08-28


advances In wages and in prioes,of pro
ducts and the heavy movement Of crops
are facts before which all speculative in
Huences have to bow.
The weeks dispatches mention sixteen
Iron works which have started against
one closing, fifteen wooden works started
and so in many other branches while
many more works have increased force
and many are preparing to resume and
some have increased wages. While these
things continue with grain rising and go
ing abroad in enormous quantities money
markets have reason for Astounding con-
fidence and speculative markets for
strength. Crop reports are contradictory,
as usual, at such time, but it is note
worthy that none of them indicate any
thing less than an ample supply of the
greet staples. ! ~
Wheat rose six cents Saturday. with
exaggerated reports of injury fell neiariy
cents, advanced cents and tfhen de
cltped sharply. .cioslns3g1 cent lower for
the week. Thot some harm was done to
spring wheat in three states appears, buI;
NO accounts entitled ITO respect indicate
damage, reducing .he yield below $780,
100000 bushels, which would be 5,Oo0D0o
bushels larger than any crop since 1891
In spite of grea. lack of cars wheat re-
ceipts were 4,349, 594 bushels for the week,
and for four weeks 15,5S9,6S1 bushels,
against 14,1S6,947 bushels last year, and
Atlantic exports (1our fncludedD Though
somewhat checked by higher prices, were
3,563.969 for the week, against {, 207, SIG Hast
year, and for four weeks 10, 3S7 ,eS7 bushels,
against 7,31O,177 las year.
Receipts of corr bear strong testimony
dc the seriousness of foreign needs. bsing
6,S4O,1H bushels for the week, against o.
S15919 last year, and Atlar.ic exports in
four weeks have been 10,466,47S bushels,
against 5,617, ITO last year. The price rose
11sc for the week.
Sympathy with other markets rather
than reports of INJURY which capable au-
thorities deem not impor. amt, accounts for
dhe advance of S-16c in cotton. But the
mills are resuming work with a rush
and require heavy supplies of material
ito meet the large demand for goods,
which have advanced The prices of many.
IA general replenishmcnt OF stocks by
dealers will call for heavy additional sup
plies The wool market also rehec.s
greater strength and further advance in
some grades the heavy buying of woolens
which have set many mills ait work night
and day and caused makers of many
grades to Withdraw them entirely from
the order market. But while The mills
have been buying somewhat, most Of
: them have large socks and the trading
has been mainly speculative between deal
ers.
AT last demand has so far overtaken
capacity of iron work that prices are
growing stronger, Bessemer and grey
forge 25 cents higher at Pittsburg and
because rebates and concessions are
stopped. Billets are 81 pr ton higher,
structural and bars and plates about as
much, rods $3.50 and wire nails cents
per key, higher. The demand is also
heavy for merchants pipe and steel and
she:ts are very active. The advance in
iron and steel average 81 per cent. for
the week. Buying Of ore continues
heavy, 400, 900 tons in two weeks at Cleve-
land and among this iron works starting
of more furnaces.
Connellsville coke works Increased out
put to 1854 tons for the week.
Hides are again stronger at Chicago,
though packers no longer Lad, but on the
contrary hides are called scarce though
cattle are plentiful on the market, 49,
900 head the largest for the corresponding
week since 1892.