The star. (Reynoldsville, Pa.) 1892-1946, 1898-02-16
REVIEW OF TRADE.
Unusual Demand for Pig Iron. Spring Trade
Indications Good.

n. q. Dun & Co.'S weekly review OF
trade reports as follows for last week:
Business Is pushing toward spring
activity rather early. Events which
have controlled are good buying of iron
by the largest makers. the rise In cot
ton with strength in goods, the great
railway consolidation and the Cuban
insurrection. The latter with its pos
sibilities, operates as a brake on specu-
lation. and foolishness of local traders
gave foreigners much desired oppor-
tunity to buy stocks, on balances about
10000 shares. January earnings, s3S,-
O1L417 already. reported, are 1876 per
cent. better than last year, and 95
better than In 1892, showing the best
month In six years at least, and Feb
ruary returns thus far are promising.
The output of pig iron February
was 229,S23 tons weekly, the largest In
the history Of the business, but the re-
ported buying of 10000 tons of besse-
mer iron by the Carnegie Company and
100000 by another Of the largest steel
concerns. nevertheless means a deci-
sion by the ablest manufacturers that
the unprecedented output of pig will
soon prove too small for the growing
demand for finished products. The IL
linois Steel Company has contracted
for million tons of bessemer ore. and
producers of other ranges count upon
on advance in price. Bessemer pig
rose to $40 IL, and gray forge to 50 at
Pittsburg. with finished products gem
orally stronger, and in larger demand
than ever at this season. Rail con-
tracts already cover, ii is said, more
than last years production. the rail-
ways buying earlier than usual. Bar
contracts for cars. wagons, agricul-
tural implements and other manufac-
lures are heavy at the West: structural
contracts there are very numerous and
at the East large. with $4,000 tons esti-
mated for New York buildings alone
this year, while plate and sheet con
tracts Tor the season are unprecedent-
ed.
January was one of the biggest
months i'm Connellsvile coke output
e23,975 tons, and furnace continued at
the same price. Tin rose to IA cents in
spite of heavy shipments. and copper
to IL cents. or better for like. in spite
of enormous American production.
The rise in cotton-5-16 per cent for
the week-results in part from better
prospects for manufacture here and
abroad, but only in part. Wool sales
at the chief cities were only 5,30S. 200
pounds for the week. and 1864, 800
pounds for two weeks. against 22,721 800
last year. Prices are still strong, in
spite of the general Indifference of
manufacturers, who seem to have Sc
cured ample supplies. For the better
grades of WOODEN goods an advance
averaging 17.5 per cent. from last year
is readily maintained. The opening of
works idle for years. in spite of the
heavy production already assured. is a
striking feature in this. as in the iron
and other industries. and implies heav-
Ter demands for products than are now
met by the unprecedented output.
Wheat has been strong, with spot
advancing cents and May 2% cents.
though western receipts have been. for
two weeks. 5.3G6,7lS bushels, against g.
317S9j bushels last year. but Atlantic
exports have been 5.274,43S bushels
(flour included), against 4,026596 BUSH
els in two weeks last year. with Pacific
exports large. Corn exports are also
surprisingly well sustained. 1854, ,762
bushels, against 7.S23S65 bushels last
year. and the price has advanced a
trfle.
Business shown by bank clearings Is
again larger than ever before 54.7 per
cent. larger than last year for the
week, and for the month to date. 4.3
per cent larger than last year and 10
per cent. larger than in 1892.
Failures for the week have been 295
In the United States against 267 last
year. and 43 in Canada against 81 last
year.