The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-05-16
OUTLOOK FOR TRADE.
Nothing Disheartenlng is To Be
Seen Now.
GOOD TIMES WILL FOLLOW WAR.

'""" SohsiueraDie strength, Far.
hcuiarly In Food Products Government
Orders Are Very Heavy-Money Re-
ported Easier, the Government Paying
cold over the Counter-Output of Pig
iron-Leather and Hides Advance.
New York, May 1G.-R. G. Dun & Co.'s
weekly review OF trade says: Hostili-
Ties have lasted long enough to kill
many predictions, If but few Americans
Inc European notion that the United
States would begin by having a bad
half hour. the theorists notion that
everybody knows a great panic must
follow the outbreak of war" the COM
mercial buyers notion that everybody
would be ready to sell everything cheap
II war came, the notion that it would
pay &c hoard money until the emer-
sency had passed, have all been made
laughable already. The only panic was
when moneylenders were wondering
what deadly impossibilities the un-
known might have in store for them.
The only hindrance of industry has
been due to the waiting of buyers who
looked for lower prices.
Can See Nothing Disheartening.
Nothing disheartening can be seen in
the industrial situation except the clos
ing OF some cotton mills owing to over
production and the fall of print cloths
to 1S7 cents. Cotton has not risen
above 6.37 cents and many stories Of re-
duced acreage are current, as a year
ago, but they do not weigh much in
view of the actual receipts Of 10000, 900
bales. The sales of wool have been only
100000 pounds at the three chief mar
kets for two weeks, against 1850, 400
last year and 11,216,75G in 1892. but
prices are somewhat more firm, and
there is more demand for goods apart
from the large government orders. The
demand for boots and shoes, having
passed all records in recent months. has
abated, and yet many orders are COM
ing forward, and just at the point where
there is general change from one sea-
son to another the actual receipts were
per cent larger than last year and II
per cent. larger than in 1892, though
smaller than in other years.
Leather and Hides Advance.
Leather is rising, with no active de-
mand, and hides at Chicago have ad-
vanced about per cent in spite of the
fact that cattle slaughtered at the four
chief western markets this year are
considerably more than in any other
year excepting 1893 and 1894. The out
put Of pig-iron, ga. 1863 tons weely, May
1, against 1888 April l, shows
practically no change excepting the in
crease of S55 tons weekly in charcoal
iron. Deducting the unsold stocks,
which increased in April 23,516 tons. the
apparent consumption in that month
was 81, 600 tons daily, against S2,209 tons
daily during the previous four months.
This general expectation of expanding
demand holds prices steady for all fin
ished products of iron and steel, and
with considerable sales of Bessemer
pig IL is 10 cents higher at Pittsburg,
with other quotations there. at Chica-
go, and at Philadelphia practically I'M
changed.
Government Orders Heavy.
Government orders are heavy, and yet
cover but little of the consumption,
though they go far to cause the over
crowding of shipyards and plate mills;
brought enormous demand for agricul-
tural implements and also for locomo-
tives and cars, while many buildings
in western towns and orders for many
railroad and other bridges, for canal
improvements at Chicago, and for U.s.
600 tons Of steel rails at the east make
up heavy volume. Money is easier
since the policy of contraction has
ceased. and only $1.700O00 went to the
interior during the week, while the new
loans of the chief banks averaged AZ
per cent of the total commercial inter-
ests against % per cent. one week and
Is per cent two weeks ago, with rates
much lower than were quite recently
refused.
Paying Out Gold.
The government is paying gold over
the counter largely, because it needs
notes more than coin, and 81 900, 900 gold
has been ordered during the week, 81.
500. 900 from Australia, making $7S,363,
$50 ordered of which about $11, DOC
has yet to come. Failures for the first
week Of May have been $2,97S,9S0
against SO, 995, S94 last year and s4,1SS,271
in 1885, manufacturing $1.411. 275
against $1.945. $50 last year. and trading
s1472,727, against s1,2s9,s5S last year
Failures for the week have been 246 In
the United States. against 264 last year
and "a in Canada, against 81 last year.
Wife Murderer Executed.
Columbus, o., May 16.-Frank Farley
the Cincinnati wife murderer. was
a;t In, ha M