The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-02-14
|YHE BUSlNESSOuTL0OK
as Reported by r. @. Dun & Co.'s
Commercial Agency.
NAVY TRANSACTIONS IN IRON.


,y.sl-Rise In the Price of Cotton Also
-. important Part of the General situs-
...n-AIl Dealings Appear To he Push
an Rather Early Toward Spring Ac-
,y,ty-Advance I'm Wheat.
Now York, Feb AR. G.. Dun e.
~ . weekly review of trade says: Bus
,ness Is pushing toward spring activity
~.,her early. The events which have
.ortroled are good buying of iron by
,ho largest makers. the rise in cotton,
nth strength in goods; the great rail-
way consolidation, and the Cuban in
surrection. The latter, with its posi-
hui,es operates as brake on specula-
ton and the foolishness of local trad
ere gave the foreigners much desired
onnortunity to buy stocks, on balance.
ohout 900 shares. The January rail-
road earnings, SSSO17,417 already re-
rorted are 1876 per cent. better than
last wear, and 9.5 per cent better than
IN 1892 showing the best month in six
wears at least, and the February re-
turns thus far are promising. The
output of pig iron Feb. / was 229, 1923
TONS weekly the largest in the history
of the business, but the reported buy
ing of 10000 tons of Bessemer iron by
the Carnegie company and 100000 by
another Of the larger steel concerns
nevertheless means a decision by the
ablest manufacturers that the unprece-
denied output of pig will soon prove
too small for the growing demand for
finished products.
Big Contract for Ore.
The Illinois Steel company has con-
tracted for 100000 tons of Bessemer
! ore. and the producers of other ranges
count upon an advance in price. Bes-
semer pig rose to $10.15 and gray forge
| 10 SO at Pittsburg, with finished prod
. ucts generally stronger, and in larger
| demand than ever at this season. Rail
contracts already cover, 1t is said, more
than last years productions. The rail-
ways are buying earlier than usual.
Bar contracts for cars, wagons, agri-
cultural implements, and other manu-
| features are heavy at the west; struct-
| ural contracts there are numerous, and
at the east large, with $4,000 tons esti-
mated for New York buildings alone
this year. while plate and sheet con-
tracts for the season are unprecedented.
January was one of the biggest months
IN Connellsville coke output, 623, 975 tons,
4 and furnace continued at the same
Eprice. Tin rose to IA cents in spite of
heavy shipments, and copper to IL cents
or better for lake in spite of enormous
American production.
Better Tone in Cotton.
The rise in cotton of 5-16 cent for the
|. week results in part from better pros
\ poets for manufacture here and abroad,
but only in part. The spectators be-
came persuaded that efforts for a short
crop this year would prove effective and
heavy short interest covered. The
actual movement shows no change of
consequence. but prices Of goods have
stronger tone. and foreign prospects
are better With the better tone pre-
vailing this manufacture should soon
feel the heavy demand which other in
dustries are meeting. Wool sales at the
chief centers were only 5,093, 200 pounds
for the week, and 11,664. 600 for two
weeks, against 22,721 900 last year.
Prices are still strong in spite of the
general Indifference of manufacturers.
VINO seem TO have secured ample sup
pies For the better grades of wooden
goods an advance averaging IT'S per
cent. from last year is readily main
ained' The opening of works idle for
years, IN spite of the heavy produce
uon already assured is striking
feature in this as in the iron and other
industries, and implies heavier demands
ior products than are now met by the
unprecedented output.
spot Wheat Advances q Cents
Wheat has been strong, with spot adj
vaheing cents and May 2% cents.
mough western receipts have been for |
TWO weeks 5,S66,71S bushels, against g.
s"sso last year. but Atlantic exports |
nave been 5,274,53S bushels, flour in |
GUIDED, against 4,O26, 500 in two weeks /
Hs' year with Pacific exports large. |
-ne corn exports are also surprisingly |
wen sustained, 1864, 1852 bushels. against |
'0-O'Soo last year. and the price has adj
'anced triie. 1t is yet too early for |
moSpects or coming crop to influence |
a" 'Aets materially, and heavy opera |
,N U~s at chicago. with reported sales of |
tVVVVVO bushels for export on Thursday. /
~ ueterred speculative selling. The |
BUSINESS shown by the bank clearings
again larger than ever before. 54.7 |
wi cent. larger than last year for the
"eeA' ana for the month to date 44.3
~. vent larger than last year, and Is
-. vent larger than in 1892 The fail
! ~, 10 ior the week have been 295 in the
Vhited States against oe7 Ice. ,.oar -