The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-05-08
puN's COMMERCIAL REVIEW

6SfN SShh ~
Business Is Disappointing In spite of Mod
crate Improyement-The Probable Speedy
End of the War and Other Foreign Infiu-
ences Have q Depressing Enect-Goid
Shipments B~egun-Reyiew Of the Great
Observation-Disclosures.
New YORK, Nav L-R. G. Dun &
Co.'S weekly review of trade to-day
says:
In spite of the moderate improve
ment in o of the great industries,
business is disappointing. Expecta-
tons of a speedy end of the war in Eu-
rope through Turkish victory have
helped to depress grain. Demands of
Austria and China have caused exports
of Sc, 600, 600 gold, Merchandise imports
are greatly increased, and final action
of congress on the revenue question
seems more remote.
Wheat rose last Saturday nearly Q
cents, but has fallen since that day
about 5 cents. This is largely because
European markets did not sustain the
expectation of agreat foreign demand
after the outbreak of war and because
events appear to foreshadow speedy
peace, but the tidings from wheat
growing states, the receipts from farms
and the enormous exports of corn, all
had influence. Corn exports have been
Is, $50, 1877 bushels in four weeks,
against 4,496,6T9 last year, while At
lantic exports of wheat in the
same weeks, -four included, have
been only 4,231,34S bushels, against
4,519,215 last year. Nor is this surpris-
ing, for if in use two bushels of corn
equal only one bushel of wheat, two
bushels of corn would cost about 80
cents and the one bushel of wheat
nearly so cents. Western receipts
have been reduced, perhaps in part by
floods and interruption of traffic.
The cotton market has advanced a
quarter of a cent, owing mainly to a
speculative impulse from England.
The exports of gold would not have
much influence if there were not an
extraordinary increase in merchandise
imports and some decrease in exports.
At Boston imports of wool have been
extraordinary, and at Philadelphia
they have amounted for the month to
1,27S, 600 pounds. The thought hat
this abnormal increase may continue
as long as action on the revenue bill is
deferred tends to affect exchange, but
the main influence at present is the
exceptional demand for the reconstruc-
ton of the Austrian monetary system
and for japan.
Of the great industries, the iron and
steel manufacture is slower in advan-
cling now, as it was much the quicker
in winter. Partly because the increase
in the production of pig was too rapid,
partly because enormous contracts
taken when the different pools broke
down wentm mainly to the larger con-
cerns, and perhaps eve more because
possibilities of new development re-
main, there is great hesitation now
in placing orders. Reports OF
pending negotiations between the Illi-
nois Steel and Minnesota Iron com
panies point to an important change as
probable. Prices of Mesaba ore have
not yet been established, though ore
better than Fayal has been sold at
81 IS to 81. so. and pig is weaker. Bes-
semer at $3.50 with n sale of 1000
tons for S9.25 at Pittsburgh, and gray
forge at IS. so.
Nails are about five cents per keg
lower and tin plates five cents per box,
and eastern quotations are frequently
shaded to secure business. A heavy
sale of lake copper is reported at II
cents and lead is a trife weaker.
There is more business in cotton and
wooden goods and a little better tone
in prices, some cotton and some wooden
goods having slightly advanced with
out general change.
The mills are rather better employed.
and the demand is apparently increas
ing, though not enough in wool to in
duce manufacturers to purchase. But
imports have been enormous-if cur
rent reports are not in error more than
100, 900, 600 pounds in April alone, Phil
adelphia having received over s,OOO,.
900 pounds in four weeks, New
York more than a. 600, 600 and
Boston apparently over IS, 900, OOO
pounds. Sales for the past four months
have been $50, S02. $50 pounds, including
92, 943, 400 domestic, and for the whole
year 351, s92, ss1, including 21s, S52. 631
domestic, but in 1929 sales were $685.
$50, S55 pounds
Failures for the week have been 237
in the United States against 2Ss last
year, and 40 in Canada against 81 last