The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-06-27
NOT CAUSED BY WAR.
The Boom in Business Due to
Natural Causes.
BIG GAINS IN BANK CLEARINGS.

The United States Now Controls the Mar
kets of the world-Europe Needs More
Wheat and We Have the Grain tn Sell
Her-PopuIar Loan Proves the Comb
dence of the People -Wool Shade
stronger--Business Failures.
New York, June Pr. G. Dun &
Co.'S weekly review of trade says: Lit
tie of the new business seen, in proper
tion to the aggregate, has been caused
by the war. Not any discoverable by
ordinary tests, has been prevented by
war. Neither has the collapse or the
wheat speculation caused the expected
decrease Of shipments, for exports con-
tinue remarkably large. Gold comes or
does not come, as we want 1t, the
worlds markets being evidently at our
command. An Offering Of bonds by the
government brings out at the start bids
for more tran three times the amount
offered while the popular subscription
already for three-quarters or the
amount exhibits in strong light the con-
fdence Of the people. Wheat ceased 10
fall and begins to rise in price because
foreign needs are not yet satisfied. At
lantic exports for the week were flour
included, 3,246.205 bushels, against l.
4i5,9I7 last year, and Pacific exports
5l7,15S, against S7,CS9 last year, and the
demand is not of a speculative charac-
ter
Great Demand for Grain.
The worlds need of grain is greater
than ever, and 213, S2l, 567 bushels of
wheat and POI, 81. 4SS bushels of corn have
gone abroad already, with week to
spare-far more than was ever before
exported in one year. After falling to
so cents for cash and Tx cents for July,
wheat rose TO SO cents for cash and 19
cents for July, with foreign demand.
Corn was steady, without much fluctu-
alton, exports being 2574, 723 bushels for
the week, against 1,66O,922 last year. OF
other grain exports have been unusual
ly heavy. The industries, at the sea-
son when stoppages are to be expected,
maintain production surprisingly. There
are few interruptions on account of Ia
Dor, and wage scales for the coming
year have nearly all been amicably set
tied. The iron industry is dull at the
east, with complaint that prices do not
rise, but at Pittsburg and the west the
works are getting more business con-
stantly. and are even competing so
sharply that prices are slightly lower
for bars, cut nails, steel rails and gray
forge, while southern iron is also Of
fered lower there than at the east. The
enormous demand from agricultural re-
gions for implements, fencing, cars.
railway equipment, and all sorts of
building is the noteworthy feature Of
this remarkable year.
Minor Metals Steady.
Minor metals are fairly steady, with
tin at 1872 cents. Lake copper at S11.75.
with % al tons produced in the United
States, and 6,4S6 abroad in May, and
lead is stronger at 1896 cents, with only
moderate transactions. Wool is strong
er, a shade, 100 quotations by Coates
Bros. averag ing 1872 cents, against 1854
cents June l, but because of western
demands, which are relatively cents
above prices which manufacturers will
pay, excepting to fill immediate orders.
AS the future Of the trade is in doubt
though with more hopeful prospects,
sales Of wool have been in three weeks
only II $500 pounds at the three chief
markets against 295S5,100 in the same
weeks last year, and 23,72S.2 200 in the
same weeks Of 1892. Cotton has weak
ened three-sixteenths, with excellent
crop prospects, but a larger demand
for goods is seen, though not as yet
enough to cause any advance in prices.
Reports Of distribution are generally
encouraging. Failures for the week
have been 2S5 in the United States,
against 216 last year and IL in Canada,
AGAINST "a last wear