The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-05-20
Dun & Co.'s Review.

New York, May AR. G. Dun & CO.,
Weekly Review Of Trade tomorrow will
say:
Spectators have enjoyed an advance II
wheat, corn. cotton and some othe
products, though obliged to sell wool ant
sugar at lower figures in order to realize
STOCKS have advanced Z cents per 500
trust stock lost 81 cents. without enough
demand to constitute a market. Imports
of merchandise amount to S1S.3S2O1S fo,
the week at New York, and are alone
W per cent larger than year ago, max
ing the increase Al per cent for the past
week, and have affected the exchange
markets and helped further shipments OF
gold, which amount for the week to So.
I5O,0OO, but are practically balanced by
receipts from the interior, and cause nc
serious apprehension of financial disturb.
ance. Men feel that present conditions
are only temporary, although they tend
to prevent immediate improvement in gen
eral trade and hinder immediate invest.
ments.
The government crop report estimates
cotton acreage at g per cent less than
last year, and is considered encouraging
because so slight decrease from the
Hoods may be easily made up. Prices
have advanced an eighth ON Liverpool
speculation, with nothing here to warrant
the rise. The winter wheat report.
which is supposed to produce yield of
297 100000 bushels, is contrasted with
state reports much better or much worse,
but is distrusted mainly because all de-
partment estimates of acreage for years
have been wildly erroneous. Western
receipts continue larger than last year,
2,lO9,12 bushels against 1,870,367 year
ago, and Atlantic exports also increased
in In a.
3,106,909 bushels, flour included, against
2,OS3,4l4 last year. Exports of corn are
still large, 5,567,055 bushels for two
weeks against 1904, 1S1 last year, and in
part account for the smaller demand for
wheat.
The output of pig iron for the week end
ing May was 170,52S tons against 49,
279 April 1, and the stocks unsold, ex-
elusive of those. held by the great steel
making companies, increased only $685.
600 tons. Several furnaces, especially
those producing foundry iron, have stop
ped production for this month, but no i'm
portant changes appear in pig iron, which
is quoted at $S.25 for grey forge at Pitts
burg, and 1925 for Bessemer and $12 for
No. ] at New York, though only $10.25
is asked for southern. Reduced south
ern freights have not altered the market
materially, and at Chicago also the local
prices have been reduced. The demand
for finished products is below the capaci-
ty of works in operation. There are re-
ports that the beam association has been
dissolved. Angles are quoted at 95 cents,
a shade lower, and steel plates are quoted
lower here than at Philadelphia. Copper
is active, with large sales of lake at
$10.35, and tin plates are quoted 10 cents
below prices fixed by the association and
80 cents below prices of the same grades
of foreign plates.
Nothing can be said of the cotton man.
ufacture, which still lacks demand enough
to lift print cloths above the. lowest point
ever known, and prices of other grades Of
cotton do not improve. In general the
sale of cotton products is but moderate.
Wooden goods are doing better than for
weeks past, and yet there is not enough
demand to create enthusiasm or to raise
prices, while there is great uncertainty re-
garding the future of the market. Sales
of wool have sharply decreased. and for
the week barely exceed weeks con-
while prices are weaker at east
ern markets according to some reports
nearly 1c per pound. At Philadelphia
and at the west the heavy buyers for
speculation have begun to sell at some
with good reason.
Failures for the week were 264 In the
United States against 224 last year, and
81 in Canada against 30 last year.