The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-08-28

New York, Aug Pr. G. Dun & Co.,
in their Weekly Review of Trade, to-
morrow will say:
Speculative markets have their turns
of reaction, but business has none this
season, gaining with steadiness
which is most gratifying. The starting
of works. increase In hands employed,
advance in wages and in prices of pro-
ducts and the heavy movement of
crops are facts before which all specu-
lative influences have to bow. The
weeks dispatches mention sixteen iron
works which have started against one
closing, fifteen wooden works starting,
and so on in many other branches,
while many more works have increased
force and many are preparing to re-
sumo. and some have increased wages
While these things continue-with grain
rising and going abroad in enormous
quantities-money markets have rea-
son for abounding confidence and
speculative markets for strength. Crop
prospects are contradictory, as usual
at such time. but it is noteworthy
that none of them indicate anything
less than an ample supply of the great
staples
Wheat rose over six cents Saturday
with exaggerated reports of injury, fell
nearly eight cents, advanced four cents
and then declined sharply, closing one
cent lower for the week. That some
harm was done to spring wheat in three
states appears, but no accounts en-
titled to respect indicates damage re-
ducing the yield below 540 900 BUSH
els, which would be 25,000,0 900 larger
than any other crop except that of 1891.
In spite of great lack of cars wheat
receipts were 4,349,594 bushels for the
week, and for four weeks Is, 5S9 6S1
bushels against 1886, ,947 last year; and
Atlantic exports, flour included, though
somewhat checked by higher prices,
were $685. 1863 for the week against o.
207,5 516 last year, and for four weeks
| 13, ,3S7, ,6S7 bushels against 7,310,177 last
| year. Receipts of corn bear strong tes-
| tmony to the seriousness of foreign
needs, being 6,S40,144 bushels for the
week against 2,S13,919 last year, and
Atlantic exports in four weeks have
been 10,466,47S bushels against 5617, ,110
last year. The price rose 1Bc. for the
week.
HEAVY SUPPLIES WILL BE NEED
ED.
|
| than reports of injury which capable
authorities deem not important, ac-
counts for the advance of three-six-
| teenths in cotton. But the mills are
resuming work with a rush and will
| require heavy supplies of material to
meet the large demand for goods which
has advanced the prices of many. A
| general replenishment of stocks by
| 4 La. ii
| supplies. The wool market also reflects
in greater strength and further ad-
vance in some grades, the heavy buy
ing of woolens which has set many
mills work night and day and caused
makers of many grades to withdraw
them entirely from the order market.
But while the mills have been buying
somewhat more. most of them hold
large stocks and the trading has been
mainly speculative between dealers.
At last demand has so far overtaken
capacity Of iron works that prices are
| growing stronger, Bessemer and grey
forge 20 cents higher at Pittsburg and
| pig in eastern markets as much strong
er because rebates and concessions are
stopped. Billets are 81 per ton higher,
structural angles, bars and plates about
nails five cents per keg Agher. The
demand is also heavy for merchant pipe
and steel and sheets are very active
The advance in iron and steel prices
average 81 per cent. for the week. Buy
ing of ore continues heavy, 400, 900 tons
in two weeks at Cleveland and among
the iron works starting are four more
| furnaces. While tin is weaker at 13. rs
cents with large arrivals, copper is held
at 11& cents for lake by large orders
and deliveries and lead is scarcely OBJ
tainable below cents sales having
been heavy. Connellsville coke works
increased output to 123,534 tons for the
| week.
Hides are again stronger at Chicago,
though packers no longer lead, but
country hides are called scarce al
though cattle receipts at the four chief
markets. 15l, 400 head, are the largest
for the corresponding week since 1892.
Failures for the week have been 223
in the United States against 2SS last
year and "a in Canada against 3S last
year.