The herald., 1897-07-24
Quotations
relies mining stock exchange.
Dun e. Co.'s Review

NEW YORK. July pr. G. Dun & Co.'s
weekly review of trade will say tomorrow:
The end of uncertainty regarding duties
on imports gives greater confidence alike
to those who have opposed and to those
who have favored the change. The great
change in stocks particularly in those of
the granger lists reflects assurances of
heavy crops. The remarkable rise in
wheat Notwithstanding that assurance, is
based on heavy buying for export. There
must be added another item of confidence
scarcely observed a week ago. The heavy
increases in receipts of gold, whether from
one side of the Alaska border or the other
swelling deposits at the minis and in the
banks of this country, and if the yield from
the new regions answers current expecta-
lions, it may have an influence akin to that
OF the gold discoveries in California. The
retarding force, the strike of the coal min
ers, has caused the closing of a few manu-
featuring works for want of fuel, but nego-
tiations for a settlement are still pushed
with hopes. The wheat market Is the sem
sation of tn month. Since July 9Th the
price has risen u cents, but Wednesday
a reaction of cents was not surprising,
but the close was q cent higher for the
week. 1t is notable that this came in the
face of highly encouraging crop news,
which is not disputed, and had for sup
port nothing but foreign conditions and
demand Actual buying for export has
been at times heavy, and loading of cargoes
here and in California for countries which
usually contribute to European supplies
greatly strengthens the impression pro-
duced by continental reports. That there
is speculative handling behind the great adj
vance is evident, and the buying for ex-
port has not yet resulted in Atlantic eX-
ports quite as large as last July to date,
6S2, 44O bushels, flour included, against
a .961. 646 last year. Western receipts, 5,252,-
21 bushels in July, against 1O2l5,257 last
wear, indicate concerted delay of ship
ments, which, however, rarely exert an
influence of a substatial rise.
Both because of the season and because
of the pending action on the tariff indus
trial operations are waiting, and yet with
an Improvement which under such circum-
stances is significant. The half yearly pro-
duction of pig iron exceeded that OF the
first half of 1896 by 756, $50 TONS but outside
the great steel companies there is little
activity at this time though they are in
creasing their output. The Illinois COM
pany has sold basic steel for export to
Germany New York sale of hoops for
export to Manchester is announced ana
additional orders for Pennsylvania iron to
England. Bessemer pig is shade lower,
with other quotations unchanged, but the
demand for plates, sheets, pipe and struc-
tural work is growing. Minor metals are in
better demand, tin at 1885 and lead at 3.15
cents, and copper is sustained at lis cents
for lake export, though the June produce
ton was 1858 tons and that of the half
year 10S,610 tons. There is a general adj
vance in boots and shoes averaging about
" per cent with larger demand as deal
ers lose hope of lower prices, but leather is
unchanged and hides at Chicago averaging
per cent lower.
Failures for the week have been 227 in
the United States against 2S1 last year. and
2S in Canada against 80 last year.