The star. (Reynoldsville, Pa.) 1892-1946, 1898-06-15
TRADE REVIEW.
Hslpsssnsss Of the Spanish Navy Restores Co,adsnss
In the Business World


r. @. Dun & Co.'S Weekly Review of
Trade reports as follows for last week:
The certainty that the Spanish At
lantic fleet is imprisoned and powerless
to do harm has helped to make the
tone of markets more confident. Every
step OF progress during the week,
which has looked toward an early ter
mination of the struggle, has been re-
Elected In the market and in lower
rates for money. All Industries have
felt the uplifting influences. In finances
the growing anxiety to lend on even
long exchange at low rates in place of
shipments of gold to this country, be-
gins to accumulate standing credit
in favor of the United States. A
stronger situation 1t would be difficult
to describe. Men have been buying and
selling stocks with some blindness,
though the course of events has all the
time warranted a higher market.
Other countries have yet to pay in
some way an enormous balance to the
United States on merchandise trans
actions, and 1t win save spectators
much trouble and loss to keep the fact
In mind.
Men talk as IL wheat had gone
down out of sight, but the collapse of
May speculation has only made It
more evident that the outside world
ItQuiTtS DOl I'LL InG
wheat this country can spare. Last
week Atlantic exports, flour included,
were 4,206.293 bushels, against 1,634.602
bushels last year. and Pacific exports
were 253,213 bushels. against 125,212
bushels last year. and It Is close to the
end of the season. over 100000, 900
bushels of wheat have already been
exported, and almost 200 ZOO, 900 bushels
corn. Aba. 800 bushels during the past
n<rot trc k.,1 1AAl. 80
year, and the market is justified in
feeling that those who have gone so
far beyond all precedent in defying
current reports are entitled to pay for
II.
Iron and steel production has declin-
ed because several establishments
have stopped for repairs. Yet the
weekly output June /, 225,397 tons,
against 234,163 May 1, with the unsold
stocks which decreased 1S,142 tons dur
ing the month, indicate a consumption
weekly of 233.S76 tons. against 22S, ,258
In April, so that the ablest iron jour-
mails are In error In saying that the ap-
parent consumption does not keep pace
with the production of 100000 tons
monthly. Eastern markets are much
more embarrassed, as before, while the
western are crowded beyond all prece-
dent. But prices are not changing in
either section. and the prospect for the
manufacture is unsatisfactory, as 1t
would be expected, with the prospects.
The woolen manufacturers are buy
Ing no wool, and the sales at the three
chief markets during the past week
were only 2.549,300 pounds, against A.
S7S.750 In 1892. But the demands for
goods proves somewhat better in many
directions than was expected, and the
government requirements have COM
PEELED some manufacturers to buy
somewhat largely grades of wool
which they have not expected to re-
quire. The auction sale OF carpets, re-
sulting In prices said to average so per
cent below the list quotations, does not
encourage buying, and In carpet wools
the market Is decidedly tame. In cot
ton goods there Is stronger tone
throughout, with print cloths sustain
ed at the recent advance, but the COM
Ing crop Is watched with anxiety. 1t is
still somewhat doubtful whether the
demand for goods during the past two
months has been materially checked
by the expectation that the price of
cotton and consequently the price Of
goods would decline, and II SO, a mark
cd advance In prices and increase in
demand may be expected.
Failures for the week have been 2O3
In the United States. against 262 last
year. and IL In Canada, against 80 last
year.