The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-06-14
THE WEEKS TRADING.
Tone OF the Market Is Made Moro
Confident
OWING TO CERvERA's CONDITION.

Early Termination of the Conflict BE
tween the United states and Spain
Looked For-Collapse of May Prices No
an Unfavorable Omen-Wool Marks
Shows Inactivity Atlantic Exports q
Wheat and Flour.
New York, June 1S.-R. G.. Dun 4
Co.'s weekly review of trade says: Tn
certainty that the Spanish Atlanti
fleet is imprisoned and powerless TO q
harm has helped TO make the tone o
markets more confident. Every step o
progress during the week which hai
looked toward an early termination o.
the struggle has been reflected in th'
market and in lower rates for money
All industries have felt the uplifting
influence. In finances the growing anx'
iety TO lend on even long exchange al
low rates in place of shipments OF gold
TO this country begins TO accumulate q
standing credit in favor Of the United
States.
A stronger situation II would be diff
cult to describe. Men have been buy
ing and selling stocks with some blind
ness, though the course Of events has
all the time warranted a higher mar
ket. Other countries have yet TO pay in
some way an enormous balance 10 the
United States on merchandise trans
actions. and II will save SPECTATORS
much trouble and less 70 keep the fact
In mind. Men talk as IL wheat had
gone down out Of sight, but the collapse
Of May specqlatiSp has only made it
more evident that the outside world
requires nearly If not quite all the
wheat this country can spare.
Atlantic Exports.
Last week Atlantic exports, flour in
cluded, were 4,206,299 bushels, against
1854, 602 last year, and Pacific exports
were 25S,21S. against 1922 last year,
and 1t is close to the end Of the sea-
son. Over 10000, 900 bushels OF wheat
have already been exported, and almost
0O,000,0O0 bushels Of corn, Aba, 800 BUSH
els during the last week, against 1,7S7,-
0S5 last year, and the market is justified
in feeling that those who have gone so
far beyond all precedent In defying cur
rent reports are entitled to pay for it.
Iron and steel production has declined
because several establishments have
stopped for repairs. Yet the weekly
output on June 1-225, 397 tons. against
234,169 on May l, with the unsold stocks
which decreased 1912 tons during the
month-indicates a consumption week
ly Of 23S,S76 tons, against ,25S in April,
so that the ablest iron journals are in
error in saying that the apparent con-
sumption does not keep pace with the
production Of 100000 tons monthly
Eastern markets are much more en-
raised as before while the western are
crowded beyond precedent. But prices
are not changing in either section and
the prospect for the manufacturer is
unsatisfactory, as it would be expected
with the prospects.
No Wool Being Bought.
The wool manufacturers are buying
no wool and the sales at the three chief
market during the last week were only
2,549, 800 pounds, against 4,S7S, $50 in 1892
But the demand for goods proves some
what better in many directions than
was expected and the government re-
quirements have compelled some man
ufacturers TO buy somewhat largely
grades Of wool which they have not ex-
pected 10 require. The auction sale of
carpets, resulting In prices said to aver
age 80 per cent below the list quota
tons, does not encourage buying. and
in carpet woods the market is decidedly
tame
In cotton goods there is a stronger
tone throughout, with printcloths sus-
tanned at the recent advance but the
coming crop is watched with anxiety.
1t is still somewhat doubtful whether
the demand for goods during the last
two months has been materially
checked by the expectation that the
price Of cotton and consequently the
price Of goods would decline, and if so
marked advance in prices and increase
In demand may be expected. Failures
for the week have been 2O3 in the Unit
ed States against 262 last year, and /
In Canada, against 80 last year.
Debs' Plan Is Defeated.
Chicago, June 13.-By a vote of SO to
IS the Social Democracy convention de-
,ided in favor Of the colonization
scheme, for which it was organized,
and against the plan Of political action
pIOpOSeu ny Eugene V. DeDS. Prior to
taking the vote a warm debate had
asted from early in the evening until
$50 in the morning. The result Of the
was announced amid the most
intense enthusiasm. 1t was so over
vhelming that the advocates Of the po-
itical action programme gracefully ac-
themselves beaten.
Explosion of Nitro GIycerine.
Bay City, Mich, June 13-Fifteen
hundred pounds of nitro-glycerine
which was being prepared for manu-
acturing into dynamite in the factory
f II. II. Thomas, four miles north of
ere, exploded and damaged the plant
At Kaw Kawlin, half a
lille from the explosion, windows were
roken and considerable damage was
one. This is the fourth time the works
ave suffered from an explosion. For |
Inately all the employees in the build |
w escaped with their lives. The loss
J unknown at present.
Minister Instantly Killed.
Montreal, June 13.-Rev. II. j. Grant /
Sunny Bay, N. S., and one of the DEL
gates to the Presbyterian general as
d iry NJ