The herald., 1898-07-23
Dun & Co.'s Review

NEW YORK, July PR G. Dun & Co..
in their Weekly Review of Trade tomorrow
will say:
A state of war does not disturb business,
but reaction after phenomenal movement
Of grain causes relative loss which many
mistake for decrease in the volume of trade
So much grain has been required and ship
ped during the past twelve months that a
decrease was inevitable and the granger
and Pacific roads show a loss in earnings,
even compared with 1892 though not much
yet, compared with last year.
After the surrender at Santiago barely
week of rest has preceded the sailing of
the Porto Rico forces, but meanwhile the
proclamation opening Santiago to trade on
terms singularly favorable to the inhabi-
tants there and the efforts to build up bust
ness in Eastern Cuba are occupying the
thoughts of many enterprising firms. Re-
duction Of one-half of the tax heretofore
paid. with honest instead of Spanish
administration brings home to CUBAN resi-
dents the meaning of the change and also
learns the use of money of which paper
dollar Is just as good as gold which for
them is a long step forward.
In the stagnant midsummer season, with
business larger than even before, the great
manufacturers nearly all share the gain.
Once before, in 1895. with an exraordi-
narily small movement prior to July the
shipments of boots and shoes were larger
than this year, but In no other year have
shipments in three weeks of July been as
large. Only 6&53,200 pounds of wool was
sold last week, and in three weeks only 49,
$4,000 pounds at the three chief markets,
Of which S.720,700 pounds were domestic,
against 81 ,1A 700 pounds last year and 49,
BAT $50 pounds In the same weeks of 1892
1S,509,000 pounds being domestic.
The iron manufacture seems to be on the
verge of another revolution since Bessemer
pig is held by ourtailment of production on
the Shenandoah and Mahonng valleys at
s10.25 at Pittsburg and yet some steel works
have made enormous sales of billets 100 900
tons to the great wire association at prices
unknown 10000 tons to parties at Chicago
at $15.75 and 20 600 tons at Pittsburg a $14 IS
The demand for structural forms keeps all
the works busy and includes for the week
$500 tons at Chicago in the contracts and
1900 at Pittsburg in four Others while the
plate mills are everywhere crowded, sheets
and bars are both in better demand than
heretofore, and the prolonged weakness In
cast pipe which usually requires nearly
100000 tons of pig in year, may presently
be cured.
Heavy sales of lake copper have fixed the
price at 111s cents and the output of the
last half year has been 100, 447 tons American
againt 1910 tons foreign, although three
Seoio d5V the loielSH Outpul
exceeded the American. Tin at 1856 cents
and lead at 1892 cents are both a shade
weaker.
With abatement of foreign needs and
prospects of excellent crops In many for
>ign countries. wheat has declined during
the week three cents in price. notwithstand-
ing exports from Atlantic ports amounting
to 1897 020 bushels against 1,516997 bushels
last year and from Pacific ports 57,755 BUSH
pIS npc hrs oil Ia ct ri
exports for three weeks have been 1899 259
bushels, -four included, again 5,194 4SS
bushels last year.
Failures for the week have been 207 In the
United States against 227 last year and II
in Canada against rs last year.