The times. [volume] (Washington [D.C.]) 1897-1901, 1898-03-19

X. i 6
| ly review of trade tomorrow will say: -
Neither peace nor war reports has
changed the onward current of business
orders for more than $25 500, 600 gold from
Europe have blocked any drift toward
stringency in rates for money, and Treas
ury receipts of about 81, 100, COO per day
have kept in check any question about
the currency. while exports of products
have continued at a rate considerably
increased, and the demand for products
of the great industries shows steady ex-
pansion. Prompt action by the Senate
and House has removed all fear of embar-
rassment through conflicting purposes at
| Washington. The Government is making
ready without any waste Of time, while
frankly assuring everybody that it looks
for a peaceful settlement and hopes that
its preparations may prove unnecessary.
The backbone of the situation is the eX-
cess of merchandise exports again; more
than 81 LOCO, 600 in February In two weeks
OF March exports have been 16 per cent
larger than last year, and imports have
gained but 81 per cent, although espe-
cially swelled by receipts of india rubber,
sugar and hides. The outgo of cotton sur
passes all expectations though the price
was stronger last week, and the export
demand apparently paid no attention TO
market fluctuations. Receipts from plant
atoms continue much firmer than at the
corresponding date from the largest crop
heretofore produced. so that guesses
about the future crop are row the main
reliance of spectators.
Wheat also moves in, spite of all specu-
lation. The price has, varied with con-
ficting reports but closed Ia higher for
the week. and corn was fairly well sus
tanned, though fraction lower. Wool
shows no change in quotations. though
Eastern markets are extremely dull. The
London market is rather higher and hold
crs in the interior are expecting a mate
rial advance in prices.
Little encouragement appears in the
market for cotton goods, with print cloths
a sixteenth lower than a week ago, and
standard grades undersold by many of
less note. The demand is large, but not
large enough. In wooden goods, on the
contrary, the material advance in prices
has raised the only obstacle TO increased
transactions. The boot and shoe manu-
facturers have secured by far the largest
orders ever known this season through
| concessions which leave scarcely any
profit.
"Bessemer pig and gray forge iron are
both slightly stronger at Pittsburg, the
proposed combination of valley furnaces
| helping, but pig is not changed in price
| elsewhere, nor are finished products at
| any point, excepting wire nails, which are
5 cents per keg weaker. and steel rails
| which are said to be sold at $3.50 at the
| East by some establishments. The wire
| combination, having failed to effect the
| broader arrangement contemplated, is
seeking TO complete control of about so
! per cent of the wire output for the coun-
| try. While activity is great in the cen
trail and western region, there is less de-
| mand at the East.
THE New York banks lost about 81, Co.,.
| 900 this week by transfers to the interior
but gained much more largely by receipts
| of gold from Europe. The stock mar
| ket was affected all the week by ankle
! ties regarding foreign affairs, and at one
| time railroad stocks averaged $1.49 per
| share lower than a week ago, but recov-
| cred all the loss.
Railroad earnings continue 10 per cent
larger than last year and per cent larger
| than in 1892.
| Failures for the week have been 20S
| in the United States, against 216 last year,
| and q in Canada, against 90 last year"