The San Francisco call., 1898-05-14
Totals ......s 27172 s21 1eo
DUNs REVIEW OF TRADE.

NEW YORK. May 13.-R. c. Dun & Go. s Weekly Review of Trade tomorrow will say: Hostilities 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 theorist notion that everybody knows a great panic must follow the outbreak of war the com mercial buyers notion that everybody would be ready to sell everything cheap If came: the notion that 1t would pay to hoard money until the emergency had passed have all been made laughabe already. The only panic was when money lenders were wondering what inn possibilities the future might have In store for them. The only hndrance to industry has been due to waiting of buyers who looked for lower prices
 Nothing disheartening can be seen in the in- dustrial situation, except the closing of some cotton mills owing to overproduction and the fall of print cloths to 1S7 cents. Cotton has not risen above 6.S7c and many stories of re- duced acreage current, as year ago. but they do not weigh much in view of the actual receipts of 10, 5o0, 900 bales The sales of wool have been only 4.o05, GOO pounds at the chief markets for two weeks, against 14, 530, 400 pounds last year, and 1l,216 750 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 for ward and just at the point where there is gen. eral change from one season to another.
 Leather Is rising. with no active demand and hides at Chicago have advanced about per cent in spite of the fact that cattle slaughter ed at the four chief Western markets this year are considerably more than in any other one year except in 1891 and 1894 The output of pigron, 43.440 tons weekly. May l, against 233, 33s April 1. shows practically no change ex- cepting the increase ol S55 tons weekly in char coal iron. Deductng the unsold stocks which increased in April 23. 516 tons, the apparent con sumption In that month was 32. $50 tons daily, against g. 35s tons daily during the previous four months. This general expectation of e11 , pending demand holds prices steady for all finished products of iron and steel. and at con- siderable less of Bessemer pig: 1t is 10 cents higher at Pittsburg. with other quotations there. at Chicago and at Philadelphia prac- tically unchanged Government orders are heavy and yet cover but little or the con sumption, though they go far to cause the overcrowding of shipyards and plate mills. but higher prices for wheat have brought enor- nous demand 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 2500o tons steel rails at the East, make up a heavy vol ume.
 Money is easier since the policy of contrac- tion has ceased, and only q TOO. 900 went to the interior during the week, while the new loans of the chief banks averaged 4o per cent or the cent one week ago and 15 per cent two weeks ago. with rates much lower than were quite recently refused. The Government Is paying gold over the counter largely. because IL needs been ordered during the week. Nevo'ooe from Australia, making SITS. 363 $50 ordered. of which about $11, 000, GOO has yet to come
 s2 s7s sSo against B. 995 Ss4 last year and A13s, 271 in 1896: manufacturing, $IHLN5, against S1, 945, 536 last year.
 Failures for the week have been s4s in the United States, against 264 last year, ana A In Canada against