Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1898-02-10
TRADE NEWS OF The WEEK.
Exports Of Products Continue SurpriS-
inSIy Heavy Despite Raise in Price.

New York, Feb. 4.-R G. Dun & Com
pany's weekly review of trade says:
Actual payments through clearing houses
in January made a remarkable showing,
being much larger than in any previous
month, 1868 per cent. larger than the
same month last year and re larger than
in 1892. The failures in January were
smaller than in any previous year Of which
there is record and were probably smaller
than in any other January since 1881.
The statement by branches of business
given this week shows a surprising gain
in most departments of manufacture and
trade. Meanwhile the money market is
as confident as ever; gold does not come
from Europe in large amount only be-
cause bankers find it worth while to lend
American money abroad, and the com
mercial balances are heavily in favor of
the United States, az heretofore.
Perhaps the most striking feature Of the
week has been the decline in wheat
With exports of 3 ,O94, 517 bushels, against
1,77O, $40 last year, flour included, from
Atlantic ports, and 776.S40 from Pacific
ports, against S44, 343 bushels last year,
the temper of the market has been weaker
The report of the Agricultural department
has had some influence, although its
figures are not generally credited as
reliable.
The wheat market has turned largely
upon the operations of Chicago specula-
tors, but the fact remains that the price
depends largely upon foreign needs and
upon the comparative scarcity Of American
supply. The outgo of corn continues
heavy, 3, 79S, 1856 bushels against 3,S45, 400
for the same week last year, and the excess
over last year, when exports were much
the greatest ever known, indicates very
heavy foreign demand.
The spot prices Of cotton remains I'M
changed, but the fact that receipt; con-
tinue larger than DUNG the same week of
1895, after the heaviest crop ever known,
checks speculative operations for an ad-
vance.
The iron and steel manufacture is
steadily gaining in consumption of pig
iron, although the production Of the ma
terial is still in excess of immediate de-
mands, but not enough to cause decline
in prices at Pittsburg or Chicago. Even
the Southern producers are able to get
fair price at Chicago and at the East, ard
anthracite pig is unchanged.
The demand for finished products has
been very heavy, and includes for struc-
tural works 5000 tons for the State Capt. |
tol building in Pennsylvania, 1000 tons
for the court house at Denver, 5000 tons
for the elevated railways at Chicago, and
numerous small buildings in various parts
of the country. The demand for car
building has been very heavy, both at the
East and West, and the plate demand
greatly increased at the East on account
Of orders from shipyards. For plates the
demand from tinplate works has been very
active. The prospect OF a combination Of
wire manufacturers has stimulated the
demand and raised the price Of wire rods.
Of Connelsyille coke, 1900 ovens are
in blast, with an output Of l55, OOO tons
weekly, and the quoted price is Sl.5O for
furnace. Tin is quiet and steady at 1855
cents, with visible supply, February l,
of 81, l2O tons, against 1882 q year ago.
Exports of copper in January were about
0,225 tons, against 9OGG last year, and
the price is held at II cents for lake.
There is better demand for cotton
goods since the general stoppage Of works
at the East, but there is no indication as
vet Of material gain as respects unsold
stocks on hand. In wooden goods the de-
mand is altogether more satisfactory, an
advance of about 20 per cent. being paid
on most grades of woolens and worsteds,
and nearly all the mills are active. The
sales of wool at the three chief markets
we're 1851 4O0pounds, ofwhich $4,000
we're domestic, against 1868, 200 last
year, of which s, 493, 1000 were domestic.
Failures for the week were 235 in the
United States, against 81 last year, and
80 in Canada, against 63 last year.