The age-herald., 1898-02-12
SPRING ACTIVITY ss -x-u
 IN BUSINESS Good Sale Of Iron and Cotton Gradually
 Rising. THE OUTPUT OF PIG IRON The Largest in History and It Will Soon Prove Inadequate. TO DEMANDS OF MANUFACTURERS Illinois Steel Company Has Contracted for a Million Tons of Bessemer Iron and Rise in Price Is Expected
 to Follow Soon.
TO DEMANDS OF MANUFACTURERS

tomorrow
 Business is pushing toward spring ac- tivity rather early. The events which have controlled are the good buying of iron by the largest makers, the rise in cotton with strength in goods, the great railway con solidation and the Cuban insurrection. The latter, with its possibilities, operates as a brake on speculation and the foolishness of local traders gave foreigners much desired opportunity to buy stocks heavily. January railway earnings, SOY ,417 al- ready reported, are 16.6 per cent. better than last year, and 9.5 better than in 1892, showing the best month in six years at least and February returns thus far are promising.
 Largest in History
 The output of pig iron February 1 was 229, ,S23 tons weekly, the largest in the his- tory of the business, but the reported buy ing of 130,000 tons Bessemer iron by the Carnegie company and 900 by another of the largest steel concerns, nevertheless means decision by the ablest manufac- turers that the unprecedented output Of pig iron will soon prove too small for the growing demand for finished products. The Illinois Steel company has contracted for a million tons Bessemer ore and producers of other ranges count UNon an advance in price, Bessemer pig rose to $10.15, and grey forge to $9 at Pittsburg, with finished pro- ducts generally stronger and in larger de- mand than ever at this season. Rail con- tractors already cover. it is said, more than last years production. Plate and sheet contracts for the season are unpre- cedented
 A Rise in Cotton
 The rise in cotton 5-16c for the week, results in part from better prospects for manufacture here and abroad, but only in part Speculators became persuaded that efforts for short crop this year would prove effective and heavy short covered The actual movement shows no change of consequence, but prices Of goods have a. stronger tone and foreign pros poets are better With the better tone prevailing, the manufacture should soon feel the same strength as other manu- factures.
 For the better grades of woolen goods an advance averaging 17.5 per cent from last year is readily maintained.
 A Striking Feature
 The opening of works idle for year, in spite of the heavy production already as sured, is striking feature in this, as Tn the iron and other industries. and implies heavier demands. for products than are now met by the unprecedented output.
 Wheat has been strong with spot ad- yancing 2c and May 2%c, though the ex- ports have decreased For the last two weeks, Atlantic exports have been 5,Z4,- 43S bushels (f1our included, against 4,026,- 596 in the two weeks last year, with Pa cifc exports large
 If is vet too early for prospects of coming crop to influence markets mate rially, and heavy operations at Chicago, with reported sales of million bushels for export on Thursday, have deterred speculative selling.
 What Bradstreet's Says
 New York, Feb. u.-Bradstreet's tomor- row will say:
 A number of favorable circumstances and events present themselves this week. Perhaps the most notable of these are the renewed activity and confidence in the iron and steel market, accompanied by prominent and even rapid advances in sew eral grades of crude pig iron and steel and the advance in price of raw cotton, long predicted but unrealized until the present week.
 What might be regardhd as a minor feat ure in the bushes situation, though at the same time conveying mitch that is hopeful to the interest involved, is a quite general improvement in dstributve trade and de- mand in the central west and m the south, where spring trade is reported opening hi good shape. Less favorable features of the week are the slowness of spring trade in dry goods to develop at New York ana otn- CT eastern centers, except Boston, and the mild weather in the northwest, rendering I will he larger than earlier expected AL though the advance in cotton has been claimed to be too-rapid it has undoubt- edly imparted much more cheerful tone to the uthern business situaoon ana tne situation in iron and steel has done mu ch to aKlh to the confidence with which the trade outlook for 1898 is regarded.
 Favorable Comparisons
 Blsdness failures continue to make fa- forable comparisons with previous weeks and years the total for the week just end ed numbering 2S, against 295 last week, and S01 in the corresponding week Of lSy7 Exports of wheat fall slightly below iass wees reduced total, aggregating for the week 3419, ,5O4 bushels against 3,6S5, 900 bush els last week, and 2051, 900 bushels in the corresponding week of 1sN.
 Corn exports show a gain, amounting as they do to 45OS,0 ,000 bushels. against 4,l04, ooo bushels last week, and 4, ,l69,OOo pusneis III this week a year ago.
 Rank cleardngs continue to point to an inmense business doing in this country at large, in total aggrega'ting fSr the week, s1 ASA OOO 0O0 less than per cent smaller than last week, 52 per cent. larger unan II. the corresponding week last year. bS per cent. larger than in 1894, and 6.3 per cent. larger than in this week in 1S92
 g. The Financial Review
 tRradstreet's financial review tomorrow will say:
 After a moderate depression on Cuban developments early in the week the stock market regained it's bullish tone and show1d further advancing tendencies. More or less liquidation of long stocks was caused by the renewal of the Cuban agitation in the senate and the incidents connected with the retirement of the Spanish minister at Washington and an unsettled feeling was prevalent At the same time the market seemed to be ripe for such a movement, large amounts of stocks having passed into weak hands, leaving the market in a condi- tion in which a slight reaction would have a beneficial effect
 Speculative Holdings
 The announcement of the terms of the New York Central-Lake Shore exchange of securities also had tendency not un- usual in such cases to cause selling of spec ulative holdings, although the marked