The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1898-02-25
ouN.S COMMERCIAL REVIEW

business Scarcely Affected by the Tsrrlh,.
Maine Disaster Wheat CONTINUES To ..,a
In Price Unprecedented Exports at R.th
Atlantic and Pacific Ports Tair outlo.I
In the Iron Trade and Cotton Good. .
Shade Higher.
NEW York. Feb. i9-R. g. Dun 4
Co. 5 review of trade, issued YESTERDAY.
says:
The dreadful disaster To the Maine.
much a. il has affected all hearts. has
not much affected business. except in
the stock market, where there was
selling "Wednesday by spectators On
thin margins; but in no other specula-
tive market was an effect felt. nor IN
general business. An advance 81 70
per cent. in wages by some Gogebic
mines is expected To be general through.
out the lake region, excepting the
Mesaba district. and prices of ore from
the other ranges this year have been
advanced - per cent, with an alo,
ment OF 100000 tons outside Carne.
gie's mines, which betokens an OUTPUT
much the largest ever known.
Wheat has risen 81 cents. and ex.
ports continue so heavy that a mate
rial advance is natural. Atlantic ex-
ports in three weeks have been s.4i6..
$40 bushels, flour included. again,,
5.G6l. 97l last year. and Pacific export,
have been 2.476.65l, against l.i.i,
last year. Such shipments. Wit
heavy engagements for the future r.
spite of IL 43O.s3l bushels of corn o..
ported, against IL .5O7,2 PA bushels
the same weeks last year. are concm
sive proof of the urgency Of foreign
needs. Wheat receipts hold up well.
though not exceeding last years a.
much as exports-in three weeks 10
500 bushels. against i,ssi. $40 last year.
The bottom fact is that the world
needs wheat. which this country only
can supply, for about SIX months y
come
although little lower for options
prospects of decrease in tie next yield
being the main support.
The iron output February l. with re-
ports OF stocks on hand not held by the
great steel companies. indicates a con-
sumption of 1900 tons per week greater
in January than in the previous maxi
mum. attained in November, 1895. The
production is at present greater than
consumption. stocks having increased
9.Ol6 tons weekly in January outside
the steel companies, whose stocks pre-
sumably decreased Some weakness in
pig would naturally result. but while
gray forge has declined at Pittsburgh.
to $50 with southern iron offered a.
Chicago at concessions. no changes ap-
pear in products Though new basi-
ness has been somewhat Disappointing
the works are mainly Supplied Tor
months ahead
In building of steel cars in black
sheets for timing. in rods. wire and
wire nails. increased demand and heayt
business appears. though bar and pipe
are weaker and structural orders sea
sonably slow.
Mine metals have advanced. tin e
II. 20 cents on considera bile consuming
demand; copper TO IL. for lake on
heavy exports: lead to $50 aud
spelter To T. 10 cents on speculation. but
failure To organize the tin pool cause
weakness. American selling at s. and
lower at the west.
In the cotton manufacture prOiue-
ton is restricted by strikes, and >ome
grades are a shade dearer.
The recent opening of higher grade
woolens at advanced prices meets les
demand than was expected, with les
activity in lower grades and unexperi-
eddy numerous cancellations in Azhi
weights. indicating larger buying than
consumption has yet warranted
Failures for the week have been -
in the United States. against 3o3 last
year. and IS in Canada. against . as'
year