The times., 1898-09-24

very moderate trade in wooden goods
Cotton goods are in better distribution,
but prices betray the unsettIing influences
of low prices for the raw material and
print cloths are slightly weaker Activity
in iron and steel manufacture continues
unabated. and similar conditions are re-
ported abroad Talk OF further moderate
advances in price has increased. particu-
larly as this country today. generally
speaking, is the cheapest market for iron
and steel in the world. Export trade in
pig iron from Southern points continues
very heavy Increased activity and firm
er prices are feature of the lumber
business, and more is doing In leather,
but the high price OF hides restricts bust
ness.
Bank clearings continue to furnish a
fairly accurate measure of the countrys
business, and the outlook apparently ia
vors a total for September a little below
| that for September a year ago, when
| business and speculative activity general
| ly was at its height. For the week end
| ing Thursday the total clearings aggre-
! gate 81, ,S25, $4,000. Business failures In the
| United States for the week numbered lso,
against 17S last week, but compared with
237 in this week year ago, 321 in 1896, I9S
in 1895 and 20i in 1890
Best reports as to distributive trade
came from the West. Fewer out of town
! buyers are in Chicago and sales of shoes
! are smaller, but shipments of dry goods
| exceed all records. Activity In iron and
steel is feature. fair business is do
| ing at San Francisco Business Is dull in
the lower Mississippi Valley where vexa-
! tious yellow fever quarantines tend to
restrict trade. The advanced stage of the
| season, however, is expected 10 allay the
| excitement and good Autumn is conf
| IDENTIFY looked for
Cooler weather is helping dry goods
| slightly at Boston, but there and at New
York distribution is reported not up TO
! expectations.
Although the speculative stock mar
ket at New York has measurabIy re-
| gained confidence as regards the financial
| outlook, the weeks gold import arrange
ments continuing to that end, prices are
irregular and trading narrow. The feat
! ure has been the weakness of Sugar on
| reports in connection WIN the new expo
| sition refineries and the expected trade
war. Union Pacific stocks declined on
| the declaration of only l 1-2 for the first
half year. The industrial stocks show
! strength and the market rallied easily on
short covering. Foreign exchange has
hardened little on the advance of the
Bank of England rate to per cent
New York, Sept. 23.-Dun's weekly re-
| view of trade tomorrow VIII say:
/
| American demands for money much more
anxiously in the future. Doubtless there
has been for many years a feeling that
the new continent could be put off with
| promises. But the control of this coun-
| try over the money markets of the Old
| World is coming to be that of a master
Our banks lend over there lavishly when
| 1t is the most convenient market for
| them, but they draw Europe whenever
they want money and no longer have oc-
casion to limit their drafts. The August
returns of foreign commerce show an
other heavy balance on merchandise and
specie account in favor of this country
and the exports from New York for three
weeks have been per cent larger than
last year, and, although the imports have
been is per cent larger, the trade balance
in September was last year so great that
there Is sure to be heavier balance for
this month than in August. In addition
the growing foreign confidence in Ameri-
can investments has materially affected
the movement of specie and probably
will affect 1t more decidedly In the future
This country is not drawing on Europe
as largely to pay for breadstuffs as 1t did
a year ago, and yet wheat exports for the
week, -four included have been 1868 204
bushels from Atlantic ports against 1904
1893 last year. Prices have risen sharply
| about 4c for the week. and exports of corn
have been heavy in comparison with any
other year. The prices slightly advanced.
'"The reports from different cities dis
close a wonderful activity at the chief
centers of Western trade, the dispatches
from Chicago, st. Paul and st. Louis be-
ing especially significant.
The iron and steel trade expands with
rapidity which throws into the shade
all expectations, with a steel famine in
Germany and Great Britain in the market
for 10000 tons plates. and the American
works are crowded for months ahead
New orders at Chicago cover $4,000 tons
tin plate bars, besides 1000 tons sold al
Philadelphia Rails are in such demand
that the makers are to meet with expec.
/ tation of advancing prices, some sales
/ having been made from Chicago below
: agreed quotations for delivery at the fal
West. Plates are strong everywhere
Prices have slightly advanced for plates
t bars and for wire nails. Coke production
increases, and tin is somewhat stronger
t at 1915 cents, rejecting an advance a
London while copper is quiet at H.
cents for lake, and lead comparatively in
t active at cents
E 1.-The Boston leather market is will
very little demand for hemlock or oak
e some buying of union leather, but trad
in other qualities limited. Hides are gen
I orally stronger at Chicago.
e THE textile Industries are now sharin,