Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-02-24
DuN,s COMMERCIAL REVIEW.

Business Scarcely Affected by the Terrible
Maine Dlsaster-WheatC Continues to Gain
In observation-disclosures Exports at Both
Atlantic and Pacific Ports-Fair Outlook
i'm the Iron Trade and Cotton Goods o
Shade Higher.
New YORK, Feb. 19.-R. G. Dun q
Co. S review of trade, issued yesterday,
says:
The dreadful disaster to the Maine,
much as it 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 of 10
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 Is per cent, with an allot-
ment of 100000 tons outside Carne-
gie's mines, which betokens an output
much the largest ever known.
Wheat has risen 3ss cents, and ex-
ports continue so heavy that mate
rial advance is natural. Atlantic ex-
ports in three weeks have been $780,
$40 bushels, flour included, against
5,661, 971 last year, and Pacific exports
have been 2,476, 651, against 1,474, 7S2
last year. Such shipments, with
heavy engagements for the future, in
spite of II, 430, S31 bushels of corn ex-
ported, against 2,5O7, 214 bushels in
the same weeks last year, are conclu-
sive proof of the urgency of foreign
needs. Wheat receipts hold up well,
though not exceeding last years as
much as exports-in three weeks 7,775,.
$50 bushels, against ASA, TAO last year
The bottom fact is that the world
needs wheat, which this country only
can supply, for about six months to
come.
Cotton has held unchanged for spot,
although a little lower for options,
prospects of decrease in the next yield
being the main support.
The iron output February 1, with re-
ports of stocks on hand not held by tho
great steel companies, indicates con.
sumption of 5000 tons per week greater
in January than in the previous maxi
mum, attained in November, 1925. The
production is at present greater than
consumption, stocks having increased
9,O16 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 at
Chicago at concessions, no changes ap-
pear in products. Though new bust
ness has been somewhat disappointing,
the works are mainly Supplied for
months ahead.
In building of steel cars, in black
sheets for timing, in rods, wire and
wire nails, increased demand and heavy
business appears, though bar and pipe
are weaker and structural orders sea-
sonably slow.
Mine metals have advanced, tin to
1920 cents on considerable consuming
demand; copper to Tx for lake on
spelter to 40 cents on speculation, but
failure to organize the tin pool cause
weakness, American selling at SO and
lower at the west.
In the cotton manufacture produc-
ton is restricted by strikes, and some
grades are shade dearer.
The recent opening of higher grade
woolens at advanced prices meets less
demand than was expected, with less
activity in lower grades and unexpect-
eddy numerous cancellations in light
weights, indicating larger buying than
consumption has yet warranted.
Failures for the week have been 295
in the United States, against 800 last
year, and IS in Canada, against So last
wear