The star. (Reynoldsville, Pa.) 1892-1946, 1898-05-18
TRADE REvfE'
Nothing Disheartening as Yet Effects Buss-
ness as Result Of the War.


r. @. Dun & Co.'S review OF trade
reports as follows for last week:
Hostilities have lasted long enough
to kill many predictions. II but few
Americans. The European notion that
the United States would begin by hav-
ing q bad half hour. the theorists
notion that Everybody knows great
panic must follow the outbreak OF
war;" the commercial buyers notion
that everybody would be ready to sell
everything cheap II war came, the
notion that II would pay to hoard
money until the emergency had passed.
have all been made laughable already.
The only panic was when money lend
ers were wondering what deadly i'm
possibilities the unknown might have
In store for them. The only hindrance
of industry has been due to waiting OF
buyers who looked for lower prices.
Nothing disheartening can be seen
In the Industrial situation except the
closing of some cotton mills owing TO
overproduction. and the fall of print
cloths TO LIS cents. Cotton has not
risen above 6.31 cents, and many stories
Of reduced acreage are current as a
year ago, but they do not weigh much,
In view of the actual receipts OF TO-
100000 bales. The sales of wool have
been only i,005,000 pounds at the three
chief markets for two weeks, against
IA. $50, 400 last year and 1.216, $50 In 1892
but prices are somewhat more firm,
and there is more demand for goods
apart from the large government or
ders. The demand for boots and shoes
having passed all records In recent
months. has abated. and yet many or
ders are coming forward. and Just at
the point where there Ia general change
from one season to another. the actual
receipts are per cent larger than last
year and II per cent larger than In
1892, though smaller than In other
years. Leather Is rising with no active
demand. and hides at Chicago have
advanced about four per cent, in spite
Of the fact that cattle slaughtered at
the four chief western markets this
year are considerably more than in any
ether year excepting 1898 and 1894.
The output OF pig iron. 234,163 tons
weekly, May l, against 23S,S89 April !.
shows practically no change. except
Ing the Increase of S55 tons weekly in
charcoal, iron. Deducting the unsold
stocks. which increased in April 49,
SIC tons, the apparent consumption in
that month was $4,000 tons daily.
against 32,209 tons daily during the
| previous four months. The general ex-
pectation of expanding demand holds
prices steady for all finished products
Of iron and steel. and with considerable
! SuitS VI DfSstIiltf DlS, IL Is ~ NtiitS
| higher at Pittsburg, with other quota
tions there. at Chicago, and at Phila-
delphla, practically unchanged. Gov
| ernment orders are heavy, and yet
cover but little of the consumption.
though they go far to cause the over
crowding of shipyards and plate mills.
but higher prices for wheat have
brought enormous demand for agricul-
tural implements, and also for locom-
olives and cars, while very many
| buildings In western towns, and orders
for many railroad and other bridges.
for canal improvements at Chicago.
and for $4,000 tons steel rails at the
East. make up n heavy column.
Money Is easier since the policy OF
contraction has ceased and only sl.700.-
| )0U went to the interior during the
week. while the new loans of the chief
banks averaged 45 per cent of the total
to commercial interests, against rs per
cent one week and Is per cent two
weeks ago, with rates much lower than
were quite recently refused. The gov
ernment is paying gold over the coin-
ter largely because II needs notes more
than coin and S7.000,000 gold have been
| ordered during the week. 50, 500, 900 from
| Australia, making 1888. $50 ordered.
of which about Sl1000,000 has yet to
| come.
Failures for the first week of May
have been s2,9IS, $50, against SO, ,995, ,S94
last year and s413S,271 in 1896 manu-
featuring. sl.411.275, against s1949, $50
last year. and trading. sl,472,727
against sl,2S9.S5s last year. Failures for
the week have been 246 In the United
States, against 264 last year, and "a in
| Canada, against 81 last year.
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