The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1898-02-12
WEEKLY REVIEW OF TRADE
BUSINESS IS PUSHING TOWARD
SPRING ACTIVITY EARLY.

DCcIN 1loo 10 OoH tNU 1OU hD
SPRING ACTIVITY EARLY.
Trade, as Shown by Bank Clenrings, is
Again Larger Than Ever Before and 54.7
Per Cent. Larger Than Last Year for the
Week-An Increare in Failures.
New York, Feb. 11.-R G. Dun 6 Co.
in their weekly review of trade to-mor-
row will say: Business Is pushing to-
ward spring activity rather early.
Events which have controlled are good
buying of iron by the largest makers,
the rise in cotton, with strength in
goods, the great railroad consolidation
and the Cuban instruction. The lat
| ter, with it's possibilities, operates as a
brake on speculation, and foolishness
of local traders gave foreigners much
desired opportunity to buy stocks, on
balance about $4,000 shares. January
earnings, $38,017,417 already reported,
are 1876 per cent. better than last year
and 9.5 per cent. better than in 1892,
showing the best month in six years
/ at least, and February returns thus far
are promising.
The output of pig iron February
was 229,S23 tons weekly, the largest in
the history of the business, but the re-
ported buying of 10000 tons Bessemer
iron by the Carnegie company and 1O0,-
900 tons by another of the largest steel
| nrthp1nCg decision
| by the ablest manufacturers that the
unprecedented output of pig iron will
soon prove too small for the growing
demand for finished products. The IL
linois Steel company has contracted for
million tons Bessemer ore, and pro-
ducers of other ranges count upon an
advance in price. Rail contracts al
ready cover it is said, more than last
years production, the railroads buying
earlier than usual.
January was one of the biggest
months in Connellsville coke outputs
623,975 tons-and furnace continued at
the same price. Tin rose to fourteen
cents in spite of heavy shipments, and
copper to eleven cents or better for
lake in spite of enormous American
production.
The shipments of boots and shoes
from the east continue larger than
ever, II per cent. over last year and "a
per cent. over 1892, with many heavy
contracts just taken, though presume
bly, at prices below makers demands.
Leather is in many grades sold so far
ahead, while shoe manufacturers are
also supplied so far ahead, that bust
ness is inactive, and hides at Chicago
change scarcely at all, though sales of
Texas were heavy. January receipts
of cattle were 10000 head, or per cent.
larger than last year, but prices of six
teen grades average SIS per cent. higher
than a year ago.
The rise in cotton, five-sixteenths for
the week, results in part from better
prospects for manufacture here and
abroad, but only in part. Spectators
became persuaded that efforts for a
short crop this year would prove effec-
tive and heavy short interest cover
ed. The actual movement shows nc
change of consequence, but prices of
goods have stronger tone, and for
eign prospects are better. With the
better tone prevailing, this manufact-
ure should soon feel the heavy demand
which other industries are meeting
Wool sales at the chief cities were only
5,303, 200 pounds for the week and II 1854,
600 for two weeks, against 20, 721 500 last
year. Prices are still strong in spite
of the general Indifference of manufac-
: turers who seem to have secured ample
supplies. For the better grades OF
wooden goods an advance averaging
. It's per cent. from last year is readily
maintained. The opening of works idle
| for years, in spite of the heavy produc-
ton already assured is striking fea.
ture in this as in the iron and other in
; dustries, and implies heavier demands
: for products than are now met by the
} unprecedented output.
Wheat has been strong with spot ad.
{ vancing two cents and May two ant
three quarters cents, though western
receipts have been for two weeks s..
$685. us bushels, against 3,317,S95 las
year, but Atlantic exports have beer
5274,43S bushels (flour included)
against 4,026596 in two weeks last year
with Pacific exports larger. Corn ex
ports are also surprisingly we'll sus
tanned, 7,164,762 bushels, against 1928
, S65 last year, and the price has advanc
ed trifle.
Business shown by bank clearings Il
again larger than ever before, SAT pc
cent. larger than last year for the weel
and for the month to date 44.3 per cent
larger than last year and 16 per cent
, larger than in 1892.
Failures for the week have been 20
, in the United States, against 267 las
| year, and forty three in Canada
against sixty-one last year.
RUSSIAN NIHILTSTS SENTENCED