The star. (Reynoldsville, Pa.) 1892-1946, 1898-07-27
TRADE REVIEW.
Business Men Turning Their Attention 10 Santiago.
Large Sales Of Iron

Large Bales OF Iron.
X. G. Dun & Co., in their weekly re-
view of trade, report as follows for
last week:
state of war does not disturb busi-
ness. But reaction after a phenomenal
movement of grain causes relative
loss, which many mistake for decrease
In the volume of trade. So much grain
has been required and shipped during
the past twelve months that decrease
was inevitable, and granger and Pa
cific roads show loss in earnings,
even compared with 1892, though not
much yet compared with last year.
After the surrender at Santiago
barely a week OF rest has preceded the
sailing of the Porto Rico force, but
meanwhile the presidents proclama-
ton opening Santiago to trade on
terms singularly favorable to inhabi-
tants there, and the rush to build up
business In Eastern Cuba are occupy
Ing the thoughts of many enterprise
ing firms. Reduction of one-half in the
tax heretofore paid. with honest in
stead of Spanish administration,
brings home to Cuban residents the
meaning OF the change. and they also
learn to use money, of which a paper
dollar is as good as gold. which for
them Is long step forward.
There Is an increased demand for
woolen goods. although in some lines
slow and disappointing. but the num-
ber of establishments at work In
creases, though the mills are not yet
assured of satisfactory prices. Only s.
200 pounds of wool were sold last
week and in three weeks only 12.879,-
300 at the three chief markets. Of which
S.629. 700 were domestic, against 34.124,-
200 last year. and 23.347. $50 in the same
weeks of 1892, 600 being domestic.
The iron manufacture seems to be at
the verge of another revolution, since
bessemer pig Is held, by curtaiiment OF
production in the Shenango and Ma
honing valleys, at $40 25 at Pittsburg.
and yet some steel works have made
enormous sales of billets, 10O.0 900 tons to
the great wire association at prices
unknown, 10000 tons to various parties
at Chicago at SIS 70 and 10000 tons at
Pittsburg at s14 rs. The demand for
structural forms keeps all the works
busy. and includes for the week $500
tons at Chicago in three contracts and
$500 at Pittsburg in four others. while
the plate mills are everywhere
crowded. Sheets and bars are both In
better demand than heretofore, and
the prolonged weakness in cast pipe.
which usually requires nearly 100000
tons of pig in a year. may presently be
cured.
Heavy sales of lake copper have
fixed the price at 11isc. and the output
for the last half year has been 120.4S7
tons American, against 40,Ss0 tons for
eign. although three years ago the for
eign output considerably exceeded half
the American. Tin at 15.55c and lead
at 3.92isc. are both shade weaker.
With abatement of foreign needs and
prospects of excellent crops In many
foreign countries. wheat has declined
during the week Sc In price, notwith-
standing exports from Atlantic ports
amounting to 1887. .092 bushels. flour In
cluded. against 1.516.997 last year. aud
from Pacific ports 577. I55 against 89.623
last year. Total exports for three
weeks have been 1899. .259 bushels. flour
included. against 5.l94. 4SS last year.
Corn still goes abroad In astonishing
quantity, all the circumstances con-
sidered, exports having been In three
weeks 5,077,s47 bushels against $685.
S95 last year. The price has not
changed In spite of the decline In
wheat. The closing Of some New Eng
land mills has doubtless affected the
price of cotton to some extent, and yet
the crop reports are sufficiently favor
able to depress prices an eighth dur
Ing the week without other influence.
The collapse of a strong pool to ad-
vance prices and control the market II
also reported. n
Failures for the week have been 2o7
In the United etates. agaiust 227 last
year, and ~ In Canada. aGainst 20 last
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