The copper country evening news., 1898-05-31
THE BUSINESS OUTLOOK /
War Is Faced by the Country
Without Apprehension.
VOLUME OF TRADE Is EXPANDING.

enormous Movement of Breadstufis Causes
heavy Increase In East Bound Ship
ments-The Iron Industry Makes Sur
prising Progress In New Orders-Wheat
hieid To lie Remarkably Large This
fear-Better Demand for Textile Goods.
New York, May 30.-R. G. Dun &
Co.'s weekly review of trade says: The
nation faces war with a reviving vol
ume OF business. The west is doing its
part and more, but at the east also the
volume OF business is now expanding
without abatement in any important
line, the great outgo of wheat and corn
continues to stimulate business at the
west, and railroad earnings show an
increase over last year of 15.1 per cent.
In trunk lines, S.S per cent. in granger
roads, and in the other western roads
l4.6 per cent. East bound shipments
from Chicago In three weeks have been
3SS,SOS tons, against 150,S12 last year,
and 164923 tons in 1892. This is largely
because of the enormous movement of
breadstuffs. Atlantic exports of wheat,
flour included, have been 3,726,442 BUSH
els for the week, against 1,536,607 last
year, though Pacific exports were only
92,1S4 bushels, against 314,955 last year.
Wheat receipts at the west do not di-
minish, but run far beyond those of
year ago-for the week, 4,625,253 BUSH
els, against 2,969,173 last year. In four
weeks experts from both coasts have
been 13.691,S7 bushels, against 5,704, ,334
last year.
Big Foreign Buying of Corn.
The marvel is still the enormous for
eign buying of corn, exports having
reached 5,550,595 bushels for the week,
against 1,5S4,511 last year, and in four
weeks the exports have been 20,2S5,097
bushels, against 9,360,O91 last year. Yet
corn closes 3.37 cents lower for the
week, although wheat, after rising from
$1.56 to $1.66 for May. fell to $1.46 on
Friday, while July options fell IL cents.
Official and all other accounts agree in
estimating that the wheat yield will be
remarkably large this year in spite of
the fact that the California crop has
been much damaged by want of rain.
Starting this month with the greatest
consumption ever known the iron in
dustry has made surprising progress
in new orders, which reached about
100000 tons in bars alone, over $1,000
having been placed at Chicago and To-
600 at Wheeling. mainly resulting from
the extraordinary demand for agricul-
tural implements. Heavy contracts for
structural work, including some from
New York, which have depended on
action of the city government, amount
during the week TO at least $1,000 tons,
while others are reported at many
western cities. Plate contracts, out
side of the heavy demand for the gov
ernment, are large, and include $500
tons for shipyards in Glasgow and Bel
fast.
Bridge Contracts Pending.
Many structural and bridge contracts
at the west are pending, with a proba-
bility of large orders during the coming
week. A better demand appears for
textile goods. with slight advance in
print cloths and a substantial gain In
sales Of staples. Wool sales during the
week have been only 3,74S,1 100 pounds,
of which 2,4S9, 100 were domestic, against
6,4S2, 400 a year ago, and 4,2l1,OOO in the
same week of 1892. The manufacturers
are largely supplied with materials, al
though some who have heavy govern
ment contracts are obliged to buy diff
ferent grades of wool than those they
have in hand. Activity in the market
is prevented by the fact that western
holders almost universally believe In
higher prices than can yet be realized
in eastern markets, so that purchasing
is light. The silk mills are all busy,
and the coming linen manufacture Is
making a good record for itself. Fail
ures for the week have been 245 in the
United States. against PA last year, and
twenty-one in Canada, against twenty
two last year.