The star. (Reynoldsville, Pa.) 1892-1946, 1898-06-08
TRADE REVIEW.
Considering the War, There Were but Few Failures
During Nay Great Wheat Crops In Prospect.

r. G. Dun & Co.'S Weekly Review OF
Trade reports as follows for last
week.
May, having been the first full
month of actual war, the fact that
failures in that month were smaller,
even though but little, than in the cor
responding month last year, and
nearly 10 per cent smaller than in
May, 1896, Is somewhat encouraging,
the more because year ago the re-
markable decrease in May gave proof
of the heavy improvement in business
which made the year so gratifying IN
general results. Large failures were
eight In manufacturing, for $2,3S5, 900,
this year, against thirteen for 81 965, 900
last year, and in trading. five for $780,
600, against ten for Sl,512,O17 I'm 1897.
Hesitation In extending usuals scredits
soon after war began naturally affect
ed weak more than strong concerns,
but 1t soon gave place to steady and
increasing confidence.
Wheat dropped "a cents from the
highest point after the May deal cui-
minated and has since been weaker
Tor July because of accounts promis-
Ing an enormous yield. Those who
were nearest the truth last year now
predict about 700, 900, 900 bushels for
1898. and all accounts make acreage
much larger and conditions much bet
ter than year ago. But with 81 is
still paid for No. 2 red in elevator, and
foreign demand taking 4,294, ,49s
bushels, flour included, from Atlantic
ports for the week. against 2,165,7s7
last year. and 3S5,439 from Pacific
ports, against 74,929 last year, the de-
cline evidently hastens the market
ing of surplus and gives the new crop
a better chance. 1t is not less surpris-
ing that western receipts for the week
were 4263, 500 bushels, against 2,099, ,795
last year, although the crop has been
by some supposed almost exhausted,
and corn receipts were also 7,076,491
bushels against 6,116,523 last year. Ex-
ports of corn for this week have been
4,SS1,S20 bushels, against 1,926.566 last
year and, for the first time In history,
exports OF each grain have about
reached 200,000000 bushels in the same
year.
OF all the great industries the cotton
shrinkage, cotton having dropped
sixteenth during the week. after a rise
In goods averaging for the month
about per cent thus rendering the
marketing of accumulated stocks
somewhat more difficult. But print
cloths have advanced, and in most
staple goods the demand Is improving.
Woolen mills are encouraged by a
somewhat larger demand for goods. In
part from government orders, and are
averaging about l per cent better
prices for goods than a month ago.
There Is not much demand for wool,
which is still held In the main above
the views of manufacturers and prices
have declined an average of half
cent for the month.
The iron and steel manufacture
leads all others In gain over previous
years, Its consumption Of pig being
apparently more than a million tons
per month. or 22S.000 tons each week,
against 170,7S0 tons per week In May,
1892 an increase of 336 per cent.
Works beyond the Alleghenies are
crowded with business, and while
some eastern concerns are running
part time, mostly bar mills. the gov
ernment demand Is felt most In this
section. Above all others in signifi-
canoe Is the wholly unprecedented de-
mand from agricultural implement
works. which throw In the shade all
their past orders. while the plate and
rail manufacturers are beating all rec
crds. partly with foreign orders, one
for Canada having been placed at Chi
cago for 1900 tons. Structural work
is very heavy. the West furnishing
large share of 1t. and In sheet bars
and rods for fencing. the orders are
large. Prices OF pig have been some-
what strengthened by enormous buy
Ing orders for bessemer and basic at
Pittsburg and Of charcoal at Chicago.
Eight thousand carrier pigeons are
liant (op ssu~ f~s - C~.~~~~~