The record-union., 1898-03-05
uSiness Continues to Move on in
an Undisturbed Way,
Notwithstanding Reckless Stories of Posi-
hiIites Of War.
While Speculation in Stocks Have
Been Affected, Industries and
the Trade of the Country Show
Little Signs of Being Disturb
ed.

NEW YORK, March Ar. G. DUN &
Co.'S Weekly Review of Trade will
1ay in its issue tomorrow:
Stories of the most reckless sort, dis
1roved promptly and many of them be-
!, ore they are told. affected speculation
/ stocks much last week and at times
4 his week, but they have not disturbed
/. ne industries and the trade of the
country at all. There is confidence
that the authorities are doing what IS
kroper TO provide for public defensa,
and business is moving on with the as
!. 5urance that it will not be seriously
disturbed. In grain, cotton meat pro-
ucts and petroleum markets have been
/ atrong, with general increases in the
iemand for manufactured products.
Failures in February have been
I mailer than in any other month ex
cept three of the previous five months,
] With remarkable decreases in the fall
lres for 100000 and over, though in
lumber and amount the sna Ter failurse
3 show less change than might have been
expected. indicating that in good tim s
Or bad a large proportion is due to
causes apart from the general condi
tons of business. The ratio of de-
/ faulted liabilities to payments through
the clearing houses is but 81 II per
81 ,0O0 lower rate than has appeared
n the first quarter of any year except
1850 and 1881 for the past twenty-three
years.
The best evidence of general improve
ment is the fact that payments through
clearing houses for the past week have
been 2S0 per cent larger than in 1892
and outside of New York with its spec
ulatfve interests, 17.6 per cent Com
pared with last year. the gain has been
Il $50 per cent. for the week and 15.S
GER cent. for February. Production Of
! pig iron is the greatest even known
some furnaces having started in the
apast month, but bessemer billets are
$50 scarce at Chicago that some works
+ are embarrassed and heavy purchases
fat Pittsburg. including one of 25,000
Il ions, have stiffened the price go that
Bessemer pig and local coke at Chi
{ cago are stronger than since Novem-
I ger 1st. with gray forge unchanged at
L P ttsburg Foundries at the East
lote prices slightly lower. basic pig
h wing been offered in a sharp compe-
Il ion at about SO, though Southern
s,makers in Alabama and Tennessee. ex-
cepting two. have agreed upon a plan
If sales through a commission The
y demand for finished products covers
y Eork far ahead in plates, structural
-orms, sheets and pipe.
Ii The strike in cotton mills does not
read, but helps to slightly better de-
nand for goods. while in wool trade is
low in some Of the finer qualities which
II ave been much advanced in price and
II these. and other grades as well. can
citations have exceeded recorders in
/ eating less distributing than was ex
+ scted at advanced prices.
Wool has yielded a little. the aver
5,e of 100 quotations by. Coates
81 rothers for domestic being 2023c.
81 yainst 20S3c on February 1st. and
sshile the yielding Is thus far mainly
4 4 inferior qualities. stocks at least
hree years old are pressed for sale.
/ Wheat has grown stronger exports
Continuing at a rate which threatens
Exhaustion of supply, If trade reports
{ farmers stocks are correct From
atlantic ports 2.426, ,240 bushels went
sut flour included, against 1.36S. .416
Fast year and from Pacific ports S64.-
s93 against 479. $50 bushels last year
he price has risen one cent. but II
r. $ possible that the estimates Of last
years stocks. though fifty million bush
lis in excess Of the Government esti-
l rates. may prove too small Corr
MAS declined only one-quarter Of
xcent. with exports Of 4 74S,S ,S43 bushels,
against 5.221. 7S5 last year.
q Failures for the week have been 251