The daily morning journal and courier., 1898-05-14
WEEKLY REVIEW OF TRADE
REDICULoUSN ESS OF MAKING Wxn
 PREDICTIONS sHowN.


 Kill Many Prophecies, If but Few Americans-NothingD Dtshearteninr tra Industrial Situation Except Closing or Some Cotton Mills.
 New York, May 13.-R. G. Dun,s weekly review of trade tomorrow will say: Hostilities have lasted long enough to kill many predictions, if but few Americans. The European notion that the United States would begin by having a bad half hour: the theorists' notice that everybody knows great panic must follow the outbreak of war;" the commercial buyers state- ment that everybody would be ready to sell everything cheap if war came: the notion that it would pay to hoard money until the emergency passed. have all been made laughable already. The only panic was when money lem ders were wondering what deadly inn possibilities the unknown might have in store for them. The only hindrance of industry las 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 oyerproduction, and the fall of print cloths to 1.S7 cents. Cotton has not risen above 6.37 cents, and many stories of reduced acreage are current, as a year ago but they do not weigh much in view of actual receipts of 10,204 ,OO0 bales. The demand for boots and shoes have surpassed all records in recent months, has now abated and yet many orders are coming forward and just at the same point where there is general change from one season to another, the actual receipts are 2 per cent. larger than last year, and il per cent. larger than in 1892, though smaller than in other years.
 |. Leather is rising, with no active de- mand, and hides at Chicago have ad- vanced about per cent. in spite of the fact that cattle slaughtered at the four | chief western markets this year to May were 1,073,945 head against 1,O25,S0l last year and considerably more than in any other year excepting 1893 and 1894
 The output of pig iron, 234, ,163 tons weekly, May 1, against 233, ,359 April 1, | shows practically no change, excepting 1 the increase of SS5 tons weekly In. charcoal iron. Deducting the unsold stocks, which increased in April 23.516E tons, the apparent consumption in that month was 32,609 tons daily against 32, \ 209 tons daily during the previous four: | months. The general expectation of expanding demand holds prices steady for all finished products of iron and steel and with considerable sales Besse- mer pig is 10 cents higher at Pittsburg l with other quotations there, Chicago and Pittsbarg changed. Government orders are heavy and yet cover but lit- tie of the consumption though they go far to cause the overcrowding of shipyards and plate mills, but higher 1 prices for what have brought enormous 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 improve- ments at Chicago and for 25, GOO tons steel rails at the east make up a heavy | volume.
 Money is easier, since the policy Of construction has ceased, and only $1,- 100000 went to the interior during the week, while the new loans of the chief banks averaged 45 per cent. of the to- tai to commercial interests. Govern ment is paying old over the counter largely because it needs notes more than coin and s7oOO,0OO gold have been ordered during the week, $2, ,500 GOO from Australia making SIS, 1887 ordered, of which about $11 100000 has yet to come.
 Failures for the first week of May have been $299s,S7e against $2,67s,54s last year. Failures for the week have been 246 in the United States against 264 last year and "A in Canada against Al last year.