The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-06-22
A BETTER OUTLOOK.
Evidence ct Gradually Enlarging
Business in Trade.
INCREASED DEMAND FOR IRON ORE


for Print Cloths in Excess of Production
Higher Prices for Corn and Cotton
Failures for the Wcek-The Financial
Review.
New York, June 21.-R. G. Dun e. |
Co.'S Weekly Review of Trade says: |
The retarding influence of cold and un-
seasonable weather has passed. The |
gain in business in spite of it was seen
a week ago and has become clearer TO
ALL AS no genuine Improvement ever
begins with an uplifting of prices be-
fore the producing force has become
fairly employed, this does not, and the
buying Of 1000 bales of Australian wool
by one Boston house and 100000 tons of
pig iron by Wall street operator, and
advancing prices for stocks, are the
only proof that the actual conditions
are understood by some capable men.
There is evidence Of gradually enlarging
business in every important depart
ment More establishments have been
set at work and more hands employed;
and while prudence still binds specu-
lative excuses. the progress toward bet
ter things is unchecked. Reports from
the various cities this week show
very general progress and a continuing
large distribution through retail trade.
Increased Demand for Iron.
The proof is clearer, as it should be,
in the industrial than in the trading
field. Contracts providing for consump-
ton of 1000. 600 tons of iron ore have al
ready been made. 100000 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 80 cents than at
the outset, Biwabie at 1925 against 500,
but the heavy demand puts additional
mines at work The speculative pur-
chase of 100000 tons Of southern pig at
1915 clears the deck for a larger bust
! ness at better figures and sales at Chi"
cago-15O, OO0 tons-have been the larg-
| est for eighteen months. Reaction after
! the sudden purchase of $4,000 tons or
| Bessemer at Pittsburg leaves the price,
! $3.50 per ton, but the heavy orders for
| bars there and for $4,000 tons at Chi
cago. mainly from implement makers,
with orders for many new buildings at
| the west, one of magnitude at Phila-
| delphia and several at New York, the
larger demand for plates and sheets'
the order for twenty-five miles or pipe
! and the purchase of steel rails when
| have started the new Joliet works with
good orders are far more important
than the speculation in materials.
Demand for Print Cloths Good.
Coke production has increased 2,5oO
IONS. nearly 2b per cent. without chanGe
in price. Tin is stronger at 1919 cents
! and the copper output In May, larger
than in any other month this year, mas
| not vet lowered quotations, While lead
| is stronger The demand Tor PRINT
cloths for the first time in many months
have exceeded the weeks production
and the price has risen a shade, Whlle
nrints and other grades of cotton goods
are in slightly better demand. There is
a more widely distributed business IN
woolens than was expected. Clothlers
are buying, and as they come late are
in haste. Some eastern mills nave been
in the market, but the bulk of the pur-
chases of wool has again been by specu-
lative houses at Boston, where alinos'
10 600 900 pounds were sold against o.
551 800 at New York and Philadelphia
Western operators still pay more than
| eastern prices warrant
! HIGHER Prices for Corn ana toIioh'
Tn the produce markets the year
draws toward a close with signify
stronger. prices. for corn, owing to heavy
foreign buying and in cotton owing &c
- better foreign demand, notwithstand'
ing more encouraging crop reports
Nobody can count bales in June, Du'
the outlook is so far favorable that lew
make large ventures against the ylel'
exceeding 100000 bales. wheat was
hoisted nearly cents, but fell apou
az much, closing IA hgher ior th'
waeL in spite of reduced western re-
ceipts and atlantic exports. ENper
, renorts from winter wheat regions ives
} Of Ohio had much influence. but stu
n,ore the great but really unknown
: increase of spring wheat acreage
with exceptional prospects thus far. IL
the two weeks of June the Atlantic ex
norris of wheat and flour have been equa
20 A or .653 bushels against 6,21O,S23 las
year. - an
, Failures for the week have been III
: IN the United States against 2'6 las
wear. and thirty-six in Canada, agains
r twenty-eight last year.
. The Financial Review.
= prodstreet's financialr review says: TIL
Q s,oclx market has continued active am
advancing and presents every evldenc
0 of growing bullish confidence. Ther
Q is also decidedly more outside buying
D The market gave little attention TO Tn
4 Hawaiian treaty. The progress towar'
e an early settlement of the tariit an
a the favorable crop outlook are the MAI
h factors in the present advance. TN
i week they have been reinforced by re
r ports of Improvement actual or pros
pectlve. in various trades and industries
o notably IN iron 2ud steel. one OF tn
g chiefmovementso the week, that in tn
J., coal stocks. was based on the idea ina
O an ameliorati5n 81 conditions IN IN
S anthracite business is at hand.
s THE main features, however. contin
i ued to be the granger shares with suga
J. and Chicago gas In the granger grou
there was early in the week more o
less realizing of profits. Some decline
Il we've nroduced on Wednesday, when tn
y market became dull and the buyin
d mower appeared to slacken. This, now
-. ,,,os r,on,pnfaIV. and the Leaders