The herald., 1898-03-05
Dun's Review

| NEW YORK, March Ar G. Dun &
| Co.'S weekly review Of trade will say In Its
Issue tomorrow: ,..
proved promptly, and many of them be-
| fore they are told, affected speculation IN
stocks much last week as at times tnis
week, but they have not disturDe1 STU Oe,,rtrv tne
at all. There Is confidence that the au-
thorities are doing what Is proper 10 pro.
vide for public defense, and business !,
moving on with the assurance that IL Will
not be seriously disturbed.
| In grain, cotton, meat products and Pc
| troleum markets have been strong, with
| gradual increases In the demand Tor man
Failures In February have been smaller
than in any other month, except three OF
the previous five months, with remarkable
decreases In the failures Tor sloO.o0o aho Il,
smaller failures show less change than
might have been expected. indicating that
| in good times or bad large proportion is
due to causes apart from the general con,
ditions of business. The ratio of defaulted
liabilities to payments through the clear
ing houses is but ST. Il per $1,000, a lower rate
than has appeared in the first quarter OF
any year except 1880 and 1881 OF the past
twenty-three years. The best evidence of
the general opinion Is the fact than pay
ments through clearing houses for the
past week have been $50 per cent larger
than in 1892. and outside of New York, with
pared with last ,Iear the gain has been
56.2 per cent for the week, and 45.S per cent
for February.
The production of pig iron is the great
est ever known, some furnaces having
started in the past month, but Bessemer
billets are so scarce at Chicago that some
chases at Pittsburg, including one Of Is ZOO
tons, have stiffened the price SO that Bes-
semer pig and coal coke at Chicago are
stronger than since November LIST, with
g. 80 k1t~r
dry at the east is slightly lower, basic pie
having been offered in q sharp competi-
ton at about $40, though southern makers
In Alabama and Tennessee. excepting two
a commission. The demand for finished
products cover work for ahead in plates,
structural forms, sheets, pipe, since the
advance in Oil, and rails, with Chicago
bar is weak, with increasing use of steel
and tin plates, and quoted at $285, against
| $500 for the same quality of foreign. Tlr
is stronger at 142 cents and lake copper
at 11.S7.
The strike In cotton mills does not spread
but helps to slightly better the demand
for goods, while in wool trade is slow III
some of the finer qualities, which have
and other grades as well cancellations have
exceeded recorders, indicating less bright
ening than was expected at the advanced
prices. Wool has yielded a little, the av.
erage of 100 quotations by Coates Bros. fol
domestic being 20.23c. against 20.S3c Feb
ruary 1st, and while the yielding is thus
far mainly in inferior qualities. stocks al
least three years old are pressed for sale
Wheat has grown stronger, exports con.
tinuing at a rate which threatens ex-
haustion of supply If the trade reports OF
farmers stocks are correct. From Allan.
tic ports 2426,240 bushels went out (fiour
included. against 1858 416 last year. and
from Pacific ports 864 1893, against 479, ,95s
bushels last year. The price has risen one
cent, but 1t Is possible that the estimates
els in excess Of the government estimates
may prove too small. Corn has declined
only one-quarter of q cent, with exports
of 4,74S,s43 bushels, against 5,221 ,7S5 last
year.
Failures for the week have been 25l in
the United States, against A6 last year
and ~ in Canada, against So last year.