The herald., 1897-06-19
Dun & Co.'s Review

NEW YORK, June 1S-R. G.. Dun & Co.'s
weekly review of trade will say tomorrow:
The retarding influence of the cold and
unreasonable weather has passed. The
gain In trade in spite of 1t was seen a week
ago, and has become clearer, though no
genuine Improvement ever begins with an
uplifting of prices before the producing
force has been fairly employed. The buy
ing of 1000 bales of Australian wool by one
Boston house and 100000 tons of pig iron
by Wall street broker, and advancing
prices for stocks are proof that the actual
conditions are understood by some capable
men. There is evidence of gradually en-
larging business in every important de-
partment. More establishments have been
set at work and more hands employed and
while prudence still finds speculative ex-
cesses. the progress toward better dealings
is unchecked. Reports from various cities
this week show a very great progress and
continuing large distribution through the
retail trade. The proof is clearer, as 1t
should be. in the industrial than in the
trading field. Contracts providing for the
consumption of 100000 tons of iron ore
have alredy been made, 1000 900 within the
past fortnight. it is believed though last
years contracts only terminated about two
months ago. Bessemer ore Is selling lower
by 20 to 30 cents thanat the outset; Biwabic
at S2.25, against S2.55, but the heavy demand
puts additional mines at work The spec
ulative purchase of 100000 tons southern
pig at $5.I5 clears the deck for a larger
business at better figures, and sales at
chicago of 100000 tons have been the largest
Tor eighteen months. Reaction after the
sudden purchase of 500, 900 tons of Bessemer
at Pittsburg leaves the price at $3.50 per
ton, but heavy orders fot bars there and
Tor $4,000 tons at Chicago, mainly from i'm
plement makers. with orders for many
new buildings at the west, one of magni-
tude at Philadelphia and several at New
fork, the larger demand for plates and
sheets, the order for twenty-five miles of
pipe and the purchases of steel rails which
have started the new Joliet worksawith
good orders, are far more important than
the speculation in materials. Coke produc-
tion has increased 25C0 tons, nearly 21a per
cent, without change in Price. Tin is
stronger at 13. 10 cents, and the copper out
put In May larger than in any other month
this year, has not lowered quotations
while lead is stronger The demand for
print cloths, for the first time in many
months, has exceeded the weeks produc-
ton and the price has risen shade while
prints and other grades of cotton goods
are in slightly better demand. There is a
more widely distributed business in WOOL
ems than was expected. Clothiers are buy
ing, and, as they came late, are in haste.
oohhe VoStciH Hills nave De6n IN the mar
ket. but the bulk of the purchases of wool
have again been by speculative houses
at Boston, where almost 10000, 900 pounds
were sold. against 6.551, 300 at New York
and Philadelphia. Western operators are
still paying more than eastern prices war
rant. In the produce markets the year
draws toward a close with slightly strong
er prices for corn. owing to heavy foreign
buying, and in cotton. owing to better
foreign demand, Notwithstanding more en-
couraging crop reports. Nobody can count
the sales in June. but the outlook Is so far
favorable that few make large ventures
against the yield. exceeding 9. 600 900 bales.
Wheat was hoisted nearly cents but fell
about as much. closing quarter higher for
the week, In spite of reduced western re-
ceipts and Atlantic exports. Export re-
ports from winter wheat regions west of
Ohio had much influence, but still more the
great but really unknown increase of
spring wheat acreage. with exceptional
prospects thus far. In two weeks of June
Atlantic exports of wheat and flour have
been, equal to 1858 bushels, against
6,210,S23 last year.
Failures for the week have been 1873 in
the United States. against 276 last year,
and 81 in aCnada, against 2S last year.