Daily press. [volume] (Newport News, Va.) 1896-current, 1898-02-19
WEEKLY RI1yIEw OF TRADE.
Maine Disaster Has But Little Effect on
Business.

Ne" 1OlNi\, Rep. 1S.--R. G. Dun &
tompanyS review of trade says:
The dreadful dtsaster to the Maine.
much as it has affected all hearts. has
not much affected business ONLY in
The stock market,9where' there was sell
ing "Wednesday by spectators on rhin
marSlns but in no other speculative
market was an effect felt, nor in gen
eral business. An advance of ten per
cent. in wages by some gobehic miner
IS expected to be general throughout
the rake region, excepting the Mesa bi
district. and prices of ore from the 9TH
er ranges this year have been advanc-
Cd 10 per cert, with an allotment Of
i.0oeooo tons outside Carnegie miners
W'hich oetokens an Soutput much larger
han ever known.
Wheat has risen 1913 cents. and ex-
ports continue so heavy that a material
n Htiree weeks have been S.4l6,495 bush
als, -four included. against 1861. ST. last
year. and Pacific exports have been
AIS G5'. against 1.4747S2 last year
Such shipments, with heavy engage
..-nts Tor the future in spite of Ii 49,
SCI bushels of corn exported against
R.30i.21l bushels in the same weeks last
yvar, ara conclusive proof of the ur-
5ercy of foreign needs. Wheat receipts
hold up we'll though not exceeding last
years az much as exports in three
weeks, $50 bushels against 1854. 740
.ast year. The bottom fact is chat the
world needs wheat, which this country
can only supply for about six months
- come. Nrttcn was he'd unchanged fer
spot. though a little Cover for options.
prospects Of decrease in tie neXt yield
oSin2 the main SUPPORT.
The iron output February l. with re-
rCyt.- of stocks on{hand not held ny the
great steel companies, indicates con-
sumption at least 5000 tons per week
rrC'1',er in January than the previous
al Tt-1 in IN Izr.
The production is at present greater
nan consumption, stocks having in
reased $3.50 tens weekly in January
outside the steel companies. whose
stocks pre..umab,y decreased. Some
weakness IN pig IRON would naturally
=sul;. By; whle5 grey forge has de-
clined at lP...sburg to $50. with south
I'm iron offered at Chicago at conces-
Ions, no changes appear in products.
though new business has been some
what Disappointing, the works are
mainly supplied for months ahead. In
building Of steel cars, in black sheets
or Thinning. in reds, wire and wire
nails. increased demand and heavy
business appear, though bar and pipe
are weaker. and structural orders seas
lnaoly slow. Minor material has ad-
vanced. tn 20 1920 cents on considera-
sue cons uring demand, copper TO II Ii
cor lake on heavy exports. and lead
$50 arl .pelte: tos4-10 cents On specuia-
ron. bur railura6to organize the tin
.ynol caused weakness. American selling
Il SO ard lower at$the West. The cot
IN production is restricted by strikes.
md some grades are a shade dearer.
Fha recon; opening of higher grade
Nuolens at advanced prices meets less
demand than was expected. with less
activity in lower grades and uneXpect-
-Ily numerous 5ce.fca Nations in light
lights. Indicating larger buying than
consumption has yet warranted.
.rFailuves for the week have been 2?a
in the United States. against %oS lasJ
year and 80 in Canada, against 3S last
year.
NEW YORK, Feb. 1S.-Bra1SuSel' $
tomor.nw VIII say:
70 vrra.?le features i inmate tn
general business situation as a W'n@Le
ard few CONNER, Lal conditions present
hen! selves which <an be regarded as in
any 4. gree disturbing. Chief 'imorS
those factors wh.G>H make for Cntinue.i
c. growing strength IN Commercial Zines
may be msnriciled the renewed t@1' en-
cy .oWiIt<' a-vanctS N qu-tati1nS II AL
staple artiGl = ana the steadiness' If
p.icess in ,tipar lines where increases
are rot Il she m1a1rsnt re. or;2hls. Per-
nars second IL the Nst Of au=p!ct"us
ceatur.s is the continuance OF marked
activity m insanity all bran@hes of The
iron and steel trade, more is3raccla: y
in the centHol west. Were it is author
:lntively rep rseti over 80 per cent. IF the
pg I!y:o fuIIilag es capacity is iH blast.
The fA.tiIa O: the Suihern furnace
ne.l. 10 reach a price agreement IS of
..rui.se a q pressing fe-: tu!.z in tEct par
.,cu:ar section. which, however. iinis Il
= untel'ua.ln t;ng factor in the iatsr-
;i.1n to advance, pa ICES, reported from
ne i.lgSs.an.er ore p, due, rs. The volume
o. I;.lrihutiv'e trade shows an increase
not1ioly in d.y gods ana groceries, also
n',.ly WHY separated points as t.
~alIa,,': 'i:::,a co!c.uston that spring trade
= !zce!N@Is a 4tercepiible empstus. AT
he west iron 2G?d steel mills are re-
20! tod generally Employed and unwill-
ing 10 take c., ders for Early delivery.
AT Chicags 20,c00 tons IF St al rails have
Heen SSid in the Fest two weeks The
bicycle tradais reported Starring UP vel!
at the West. but is sttl slew at the east.
Where, howsser, the cCttc'a goods stu
ati1s:' IS exc of hopeful strength. OWN G
20 the sirengthetf raw material ari.' TIE
restriction If production due 10 the New
England MI. strikes. The s': ength OF
c"t;tH. sugar and RE arr the dala::,d
Gear ron AL, flVI., ira IA