The San Francisco call., 1898-06-18
DUN's REVIEW OF TRADE.

NEW YORK, June 17.-R. G. Dun Co., s weekly Review of Trade will say in to-mor- rows Issue: The passing of the war tax bill, the offerings of bonds and the collapse of Letter and cash wheat have made the week somewhat exciting Tn spite of features which cannot be justified, the tax bill ap- proved as probably the best that could be ob- tained from Congress this year and gave as- surance Of needed revenue for the emergency. Its bond provision has already called out offers Tor more than three times the amount desired, and 1t will probably prove the most successful loan ever invited by the United States. A important, and especially in its influence on foreign opinion. Not less significant was the excess or exports imports in May by s56 sso' S9s, making mercantile balance in favor oi the United States of $57l, ,ss90 0S7 in eleven months of the fiscal year, while the imports of gold were slo2. .O26, sSS. though in no previous fiscal year have the net imports of gold ex- ceeded ss7, i66, 127, which occurred in 1892
 No less important is the official showing that this nation has supplied to others 10, ,50S. POS bushels of wheat and 20i 900, GOO bushels of corn In eleven and a half months without checking receipts from farmers and sees wheat fall 2U cents Tn week because a crop is promised greater than the last by 100 GOO, GOO bushels This decline would have come sooner had not Letter looked for larger gains, but the benefit to this country by the average advance of nearly 25 cents for the crop year on wheat exported has been about s4S 06O 0OO and to producers much greater. In corn, on the other hard, the cash price has declined only 1 cent, and the de- mand continues extraordinary. Western re-
 
 S'se9 se9 S aSd iast year. and exports amounting to 5,662. 600 bushels against l, ,323. AS last year.
 inc cotton movement continues large for the season, although the price has advanced a six teenth in spite of favorable crop prospects. The manufacturing demand abroad is good and controls the output. ana at this late season America lets Liverpool make prices. Here the manufacturing demand is a little better, though with a decline In prices of bleached shirungs. but the mills have large stocks of materials. There is also d stronger market for wool abroad which, with Western excitement makes quotations of 100 qualities by Coates Bros. Of cent higher than June 1, but there is scarcely any buying by manufacturers, who are in doubt about the coming season and have few new orders except In army lines. The break in the price of l6-ounce clay worsted to sl 2O has somewhat discouraged what promised to be healthy market. Sales of wool were made extremely narrow by the wide differ ences between excited Western holders and manufacturers. who have an uncertain coming season to face
 Pigiron is extremely dull. though Bessemer not quotably lower. No decline in consump- ton appears and while bars weak, with short time the rule in Eastern mills, they ad- vanced 21s cents at Pittsburg, while Chicago re- wagon, car and other manufacturers. Heavy sheets are better at the East, but thin are not better anywhere. Structural works are full for the summer and have had two remarkably bridge orders. Plate mills are well employed, and at Chicago the demand for pipe Is better especially from the Pacific Coast. Shipments from there of rails in May included some to three other countries, while orders from Cal cutta have just been taken. The anthracite coal output in May exceeded the allotment by 19.9 per cent.
 United States, against 2s4 last year, and 20 in Canada against 36 last year.