The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1898-02-19
TRADE CONDITIONS
STILL IMPROVING
Maine Disaster Save in the Matter
OF Stock Speculation.

New York, Feb. 1S.-R. G. Dun e
Co.'s weekly review of trade:
The dreadful disaster to the Maine,
much as it has affected all the hearts
has not much affected business. Only
in the stock market, where there was
selling on Wednesday by spectators on
thin margins, but in no other specula-
tive market was an effect felt, nor in
general business. An advance of 10
per cent. in wages by some gogebic
mines is expected to be general
throughout the lake region, excepting
the Nesabi district, and prices of ore
from the other ranges this year have
neen advanced Is per cent. with an al
lot of 100000 tons outside Carnegie
mines, which betokens an output much
the largest ever known.
Wheat has risen 33s cents and ex-
ports continue so heavy that a ma
terial advance is natural. Atlantic
exports in three weeks have been SAG :
495 bushels, flour included. against
5,26l,S7l last year and Pacific exports
have been 2,476652, against 1,474,5S2
last year. Such shipments, with heavy
engagements for the future in spite of
II 1,43OS3l bushels corn exports against
13.5O2, ,12f bushels in the same week last
year, are conclusive proof of the urg-
| ency of foreign needs. Wheat receipts
| hold up well though not exceeding last
years as much as exports, in three
weeks 7,775,560 bushels, against 1854, 40
| last year. The bottom fact is that the
world needs wheat which this country
| can only supply for about six months
| to come. Cotton has held unchanged
| for spot, though a little lower for OPP
| tions, prospects of decrease in the next
| yield being the main support.
| The iron output Feb. l with reports
| of stocks on hand not held by the great
| steel companies indicates consumption
| at least 5000 tons per week greater
| ir January than the previous maxi
| mum attained in November 1885, The
| production is at present greater than
| consumption, stocks having increa sed
! 9,106 tons weekly in January outside
| the steel companies, whose stocks pre-
| sumably decreased. Some weakness in
| pig would naturally result, but while
| Grey Forge has declined at Pitts
| burg to $3.50 with southern iron offered
| at Chicago at concessions, no changes
| appear in products. Though new bust
| ness has been somewhat disappointed
| the works are mainly supplied fol
| months ahead. In building of stee
cars. in black sheets for timing, iT
rods, wire and wire nails, increased
demand and heavy business appear
though bar and pipe are weaker anC
structural orders seasonably slow
Minor details have advanced, tin Il
142C cents on considerable consuming
demand, copper to 11H for lake OF
heavy exports, and lead to $50 anC
spclter to 4.10 cents, to speculation, bu
failure to organize the tin pool causes
Weakness, American selling at SO anC
lower at the west.
In the cotton manufacture produc
tion is restricted by strikes and som,
grades are a shade dearer. The recen
opening of higher grade woolens at ad
Vanced prices meets less demand thar
was expected with less activity in low
er grades ana UNEXPECTEDLY numerou
cancellations in light weights, indicat
ing larger buying than consumption ha
yet warranted.
Failures for the week have been "a
in the United States against 301 las
year and 35 in Canada against SO las
| year.