The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-05-14
Dun d Co. 3 Review

NEW YORK, May 13.-R. @. Dun & Cos.
Weekly Review Of Trade tomorrow will
say:
Possibilities have lasted long enough to
kill many predictions but few Americans.
The European notion that the United States
would begin by having bad half hour, the
great panic must follow the outbreak of
war;" the commercial buyers notion that
everybody would be ready to sell every
thing cheap If war came; the notion that 1t
would pay to hoard money untir the emery
ency had passed, have all been made laugh
able already. The only panic was when the
money lenders were wondering what impos-
sibilities the future might nave IN store ,oT
been due to waiting of buyers who looked
for lower prices.
Nothing disheartening can be seen in the
Industrial situation, except the closing of
some cotton mills owing to over-production
and the fall of print cloths to 1877 cents. Cot
on has not risen above 6.% and many stories
Of reduced acFage are current. as year
ago, but they do not weigh much in view
Of the actual receipts of 105O0, 900 bales. The
sales of wool have been only 400. 900 pounds
at the chief markets for two weeks. against
1850 400 pounds last year. and u,2l6,7oo
pounds in 1892. but prices are somewhat
more firm and there is more demand for
goods apart from the large government
orders.
The demand for boots and shoes having
passed all records in recent months has
abated and yet many orders are coming
forward and just at the point where there
is general change from one season to an
other.
Leather is rising with no active demands
and hides at Chicago have advanced about
4 per cent in spite Of tho fact that cattle
slaughtered at the four chief western mar
kets this year are considerably more sses thar s
1894. The output of pig iron. 243,4 tons
weekly May list, against 233 $3.50 April LIST
show practically no change excepting the
Deducting the unsold stocks. which IN
creased in April 1915 tons, the apparent
consumption in that month was 32.650 tons
daily against 32,359 tons daily during the
pectation Of expanding demands holds
prices steady for all finished products of
iron and steel and at considerable less Of
Bessemer pig; It Is 10 cents higher at Pitts
cago and at Philadelphia practically un-
changed. Government orders are heavy
and yet cover but little Of the consumption,
though they go far to cause the overcrowd-
ing of ship yards and plate mills, but higher
prices for wheat have brought enormous de-
mands for agricultural implements and also
for locomotives and cars, while very many
buildings in western towns and orders for
many railroad and other bridges, for canal
improvements at Chicago and for Is 900 tons
steel rails at the east. make up heavy
volume. sa
Money is easier since the policy Of con-
traction has ceased, and only 81. ZOO. 900 went
to the interior during the week. while the
new loans of the chief banks averaged AZ
per cent of the total to commercial inter-
ests as against % per cent one week ago and
10 per cent two weeks ago. with rates much
lower than were quite recently refused. The
government is paying gold over the counter
largely, because 1t needs notes more than
coin and 100000 gold has been ordered
during the week, $500 900 from Australia,
making $780, $50 ordered of which about
81 900 900 has not yet come.
Failures for the second week of May
have been $297e.9S against 81, 995, 1894 last
year and $A.l3s.27l in 1896; manufacturing
Failures for the week have been 246 in the
United States against 1854 last year, and "a
in Canada against 81 last year.