The San Francisco call., 1897-02-20

NEW YORK, y. y, Feb. l9.-R G. Dun e Co.
will say tomorrow in their weekly review of
trade: 4 large increase in he iron and s.eel oust-
account of sa es covering eight TO twelve
months produc tion of the largest works a better
demand for goods aud slightly better prices
for wheat, cotton, wool and iro and a money mar
ket wei adapted 10 encourage liberal purchases
against future improvement in business have rem
dered the past week more hopeful than any other
since early In November. The heaVF excess OF
merchaDdi. e expor; g over imports IN January, The
continuance OF exchange ra1es showing that
Furoue is still largely indebleu TO this country on
current account and the prospect that congress
vii adjourn without any disturbing action. all
have their favorable influence ulon the money
market and upon tuture Undertakings
In many branches the great iron ana steel IN
dustry fees the upward Impulse supplied by pur-
from the Illinois Steel Company and from he Car
negie Com pany, besides me from OF her compa-
MES, in part as ow AS 81 per ton, about 1OUO0O
TO fore gn purchasers Sl7 TO SIS, but all recent
sales a. SO at astern and o21 NJ Western Mills
Nearly all the great railroads of the Country have
seized The opportunity TO supply themse. yes with
rails for one or two years requirements These
| ormouS orders have advanced BeSs mers as
Flttsourg only lO0 cents per ton with grey forge
shade lower there, and no great change appe ans
in finished products, although plates are un-
changed in prlce with good demand and nails are
held at recent prices.
The Bar Assoc atIon no longer controls anything
and iron bars are quoted at s. % per 100 pounds,
while steel bars quoted AT 95 cents per 100
pounds. structural forms are steady. nj hough
100000 TO 10000 tons are said 10 be required in
New York a.Oue this year, and American tin
Hates still selling So 20, which is less than
the price for foreign. The sales OF wool have
sharply declined. amounting 7.409 800 pounds
for the week against 95U7,6UO for the previous
week, but owing to tie heavy transactions early
in the month the sales for three weeks have been
ST, j 900 pOu DIS against Is $500 pounds last
year. he larger mills hsve ACQUIRED full supplies
for the present anc al Y atvauce of prices they
/ appear ready drop out of he market. The de-
IL and for wooden goods does not seem to have ex-
panded matera ly, and no quotabe change in
prices has appear d during the wees
The heavy exports in January following the un-
! Nanf nF i'm GrfG ~
merchandise in the four previous months are
largely 10 the fact that neither the wheat nor
the cotton markets have been materially con
| tro led by specu alton. Wheat dropped to S0.15,
but rose 10 IS. 25, with no important mpulsr eX
cept The conviction that the recent prices have
been low enough. The Atlantic exports, hour in
7 cluded, were only l230,3I5 bushels Tor The week.
I against 2,SlO, oUi last year, ouC for three weeks
have been 5,090,471 bushels, against BIAS, 429
last year. The West TN receipts still small,
only l,5UI ,Si5 bushels for the Week, against
2,4l5, 5aS last year, and for the past three weeks
only 1899 240 bushels, against ,S2S, III las.
year. Meanwhile the Western receip OF corn
have been wei nigh double last years, and Tor
three weeks the Atlantic exports h I'VE been
6,Sl7,2l4 bushe 5, against 1924 S99 last year
Evidently this movement is disp.acng many
million bushels of wheat in foreign consumption.
Figures at this season do not count for much in
condition, although the large supplies ami dimin-
inisned domestic demand on account of the par
, ual closing OF many mills have materially in
creased the market Prices have become com
paratively steady mddl ng nplauds declining TO
z, but recovering an eighth.
he value OF business is not accurately repre-
sented BY clearinghouse exchanges owing to The
extra holiday this year at some commercial cen
ters Blu. the daily average app 20 be 3.4 per
cent SIN aller tn an iaSt year The railroad earn
ings began TO show improvement, being 8 Z per
cent larger than last year for the second week of
February.
United states, agains: $50 as. year, and SO in
Canada, against So last year.