The age-herald., 1898-08-27
NO WANT OF CONFIDENCE
Displayed Among Foreign Investors in American Securities.
WHEAT GOES DOWN THREE CENTS
Output of Iron and Steel No Longer Measures Demand and Stipulated Stoppages of Finances Cause
 Increase in Price.

New York, August 26.-R. G. Dun & Co.,, in their weekly review of trade tomorrow will say:
 The volume of business reflected in ex- changes at the principal clearing houses is 20.4 per cent. larger than last year, and 16.8 per cent larger than in 1892, hereto fore the year of largest business and high est prosperity ever known. Part of this n- crese was due to speculation at New York, but there remains healthy increase over the best of previous years and though in some branches business is not satisfactory in character, is nearly all in volume that 1t has been any year before.
 No unfavorable change appears in the prospect of crops upon which the welfare of the country so largely depends, nor is there present or threatening financial dis turbance. Europe has not wearied of buy ing American securities, although some spectators have been selling, nor is there shown any want of confidence among American investors. Comparisons as to foreign trade are apt to misead, because imports last year were extraordinarily small after the big rush to anticipate new duties, while exports were beginning to show the phenomenal demand which made the year quite the most remarkable in our history. Hence the decrease of 13 per cent. from New York in August thus far is not alarming, but sales of products yet to be Forwarded are large, and have stopped any advance in the current rates of foreign ex- change. Nor is it at all dishearrening that imports at New York for the month thus Tar exceeds last years by nearly 5000, 900, since last year they fell below those of ISy6 by more than A,000, 900.
 Wheat goes down cents for the week as II there were no foreign demand com- Ing, the obvious concert of farmers to keep pack wheat the crop being certainly very large, tending to encourage a conspiracy or traders against them which thus far has entire control of the market
 It IS wise to remember that the foreign demand on account of last years shortage IS stil tapping over, while all reports show that foreign crops are about average.
 Output of Iron
 The output of ircn and steel no longer measures the demand and the stipulated stoppages of furnaces in the Shenango and -Ntstnoning va;ieys has raised the price of Bessemer pig at Phtoburg to S105O and of grey forge to saI0, without any certainty whatever that such prices can be main tanned when the valley furnaces resume operations, as some of them arc now doing The natural result Is that the Pittsburg region is by so much the less able to conn pete with the great Illinois combination Just formed which is getting all the busi- ness 1t can do and promises to turn out iron at less cost than any other works in the country. At all points bars promise a larger output than ever before and struc- tural forms and plates are in heavy de- mand, while the tin plate producers have round themselves obliged to advance prices about 10 per cent. per box and the sales are said to be very heavy.
 Shipments of boots and shoes have been larger than in any previous year, amount ing to 362293 cases in four weeks of Au- gust this year against 343 ,23S last year.
 While leather is quite stiff, notwith- standing extremely light purchases by man. ufacturers hides yield a little at Chicago.
 The decision to reduce the output of the print cloth works expected to reach one million spindles shortly does not disturb the market for staple and bleached goods which Is unchanged