The copper country evening news., 1898-04-25
BUSINESS CONTRACTED
Bankers Are Apprehensive Over
the Coming War.
4 ~ ARNINGS ARE LARGER.

Nothing Gloomy About the Clearing House
Transactions-Advance I'm the Price OF
Wheat During the week-The Demand
I'm No Way Fictitious-Exportso of Corn
Heavy Orders In Iron-Failures Report
cd for One Week.
Co.'S Weekly Review of Trade says:
The war is no longer to be avoided and
business is somewhat contracted by
bankers apprehensions. There is no
excuse except want of nerve for the
decline in railway stocks, when earn
ings have been 14.3 per cent. larger
than last year for the first half OF April.
and AS per cent. larger than in 1892,
with railway tonnage east-bound from
Chicago about 10 per cent. larger than
in 1892. Neither are clearing house
transactions gloomy. The weeks pay
ments were 1876 per cent. larger than
last year and 6.3 per cent. larger than
in 1892. In no aspect can the wheat
market be considered without finding
just occasion for a material advance
in prices which has been 7.25 cents for
the week. The exports from Atlantic
coast ports have been S104, ,309 bushels.
flour included, against 1,190,392 last
year. and from Pacific coast points 435,-
6S6 bushels against 63,230 last year,
making for the three weeks of April,
S,3s9,492 bushels from Atlantic ports,
against 3,5SS.170 bushels last year, and
from Pacific ports 2,529,6 bushels,
against 712,S71 bushels for the same
weeks last year.
Exports of Corn.
The exports of corn during the same
three weeks have been II, ,340,1SS BUSH
els, against 10,2 ,161 bushels last year,
which is strong evidence that the de-
mand for wheat is in no sense fictitious.
With 10000 tons of Bessemer iron sold
at Pittsburg for 5000 and with deal
ings In gray forge unchanged, and sales
of 10000 tons to carwheel makers alone
at Chicago, and 10000 tons at eastern
works of Pennsylvania, with some at
the south for pipe manufacturers, the
enormous production does not diminish,
and the demand for finished products
includes contracts for 1000 tons in the
building of two new merchant ships,
with many other contracts in sight to
replace vessels bought by the govern
AhChis AOi tWO ntN pitlS aA my NNbh
1900 tons; for the Chicago postoffice,
5000 tons; for the Harrisburg capitol.
$500 tons; for car building. including
one OF 1000 tons at Pittsburg; one OF
the government building at Portland,
roe, 1000 tons; for track elevation at
Chicago. 2,700 tons; for plates at Chi
cago, including one for 1000 tons; for
10000 tons rails to the Maryland Steel
n. H.. ETIl
and 10000 to the Orient; and for 1000
tons to a Pittsburg concern for Quito,
with many structural and implement
contracts of minor Importance.
Highest Point Ever Known.
No decrease in prices appears, and
the production continues practically
unchanged at the highest point ever
known, although in eastern markets the
output is considered somewhat in ex-
cess of supply. Copper is stronger with
a heavy demand for consumption. In
woolens the heavy cancellations re-
Gently prove to be in large measure re-
quests for deferred deliveries, but a
better demand has been seen during
the last week in some quarters on ac-
count OF large government orders. In
cotton goods the resumption OF work
by several large mills has increased
the output and the demand does not
appear to have diminished. Though
print cloths are at the lowest point
ever known sales are of considerable
volume. and there is at least enough
demand for other goods to prevent any
agreement of manufacturers as to a
decrease OF working capacity. Fail
ures for the week have been 204 in the
United States, against 21S last year,
and 29 In Canada, against Il last year.