The star. (Reynoldsville, Pa.) 1892-1946, 1898-05-04
TRADE REVIEW.
Governments Demands For War Materials
Stimulates Some Industries.

II. q. Dun e. Co.'S weekly review of
trade reports as follows for last week:
Hostillties have not as yet changed
last weeks condition. There Ia much
postponement of orders by men who do
not Know what they are waiting for
and much restriction Of loans by banks
which are abundantly strong. All this
checks new business, and yet the
volume Of transactions through clear-
ing-house is per cent larger than In
the same week Of 1899, with no foreign
trouble But this increase would be
much larger but for speculative stag
nation here. New York clearlngs being
81 per cent smaller than In 1892. Rail-
roads are doing a great business, 5.7
per cent larger than In 1899 In April
earnings thus far, and 1919 larger than
last year.
Many have been asserting about
every day for the past two weeks that
the wheat speculation has eliminated.
but the price has In that time advance
ed 21h cents. Sh cents within the past
week. Receipts OF 2.7iG59O bushels at
the west this week, against 1.5J2,S75 a
year ago. and averaging 100000 bushels
per week for January, February and
March, show no exhaustion of supplies,
while exports amounting to 3.70f675
bushels from Atlantic ports, against
Gf2.1Ts bushels last year and 7sG07s
bushels from Pacific ports against 1885,
9f1 bushels last year. flour included In
all cases. makes exports for the four
weeks 12.0a3.7 76S bushels from Atlantic
and 2.sS0, 020 bushels from Pacific ports.
and for the crop year thus far 1s0,661,-
G7S bushels. against 127f5s.GA bushels
during the same months and weeks OF
last year. Corn exports for the week
were 3,7Is,2S0 bushels. against 3.029406
bushels last year. and for four weeks
have been 12.2666Si bushels against
l3.250.027 bushels last year. This makes
about 15i. .O00, 900 bushels for the crop
year. No such foreign demand for both
grains has ever been known. and IL
does not seem to be satlated at all as
yet.
Confusing accounts about the great
Industries cannot cause surprise In
view Of the contradictory influence OF
monetary stringcncy curtailinR many
orders heavy orders by government In
many branches. and all-pcrvading con-
iidence that after temporary conditions
have passed business Is going TO be
better. Government is buying many
uniforms and great quantities OF sup
plies, cloths, shoes. copper wire and
iron for vessels and armament. and the
purchasing of many ships compels
building Of other vessels. Banking
caution AT the same Time IL StDpDiuE
work In some iron and woolen mills.
Yet confidence as to future business
causes refusal OF very many contracts
for long time. the holding OF wool
above Its current manufacture value,
and a marked rise In hides.
The consumption OF iron Is still the
greatest ever known, though many
structural and car contracts have been
deferred. The week has witnessed
eastern Inquiries for plate at Chicago
and a general advance of 81 per ton.
with refusal of bids by implement
makers at Chicago for bar iron. be-
cause higher. prices in the future are
expected. and eastern buying OF bars
from Chicago for car building with
shade lower prices at Pittsburg for
bessemer pig because the associated
producers hold to agreed prices, al
though middlemen are selling at lower
figures. In spite Of agreement by
foundrymen and forge producers. the
price Of gray forge at Pittsburg slight
~ declines Considerable orders for
steel rails for export have been received
during the week. With but two OF three
structural orders OF consequence. the
works are fully employed for months to
come.
Failures for the week have been 262
In the United States, against 231 last
year. and l6 in Canada. against 40 last
year.