The star. (Reynoldsville, Pa.) 1892-1946, 1898-08-10
TRADE REVIEW.
Prospects for Peace Encourags Business Demand
for Steel Rails Farmers Holding Back wheat

II. @. Dun e. Co.'S weekly review of
trade reports as follows for last week:
Prospects of peace stimulate many
kinds Of business. In spite of records,
the impression prevails that delay and
hesitation have legitimately resulted
from war, and larger contracts are in
fact coming forward for iron products,
with better general demand in most
Industries. The volume of payments
through all clearing houses was the
largest ever known In July, being S per
cent larger than in 1892 for the month.
and for the past week III per cent
larger Most Industrial works have re-
sumed after a shorter vacation, with
fewer participating than usual. A few
labor troubles only call attention to
the fact that this season has been re-
markably free from such hindrance.
In spite Of a promise of 200, 900, 900
bushels wheat this year, the price is
1-2 cents higher for the week. The dis
position of farmer to hold back their
wheat for prices more like those OBJ
tainable recently, accounts for receipts
36 per cent smaller than last year. but
exports, including flour, were 364l 6i7
bushels, against $3.50. 725 for the same
week last year, and for five weeks OF
the crop year 12,474, ,S3y bushels. against
9,S13,192 last year The visible supply
Is extremely low, but exports at the
have little lifting power If the crop is
about 30000O.000 bushels more than
home needs for seed anc food. Corn
exports for the week have been only L.
134,347 bushels, against 2,725,0O0 last
year. though the price has scarcely de-
clined.
Cotton is unchanged and crop ad-
vices are so favorable that with acre
oge not quite half of l per cent smaller
than last year, some expect n crop
nearly 100000 bales larger. With all
commercial and foreign mill stocks L.
100000 bales larger than a year ago,
and American mill stocks also larger
to an unknown extent. the crop really
foreshadowed cannot be consumed
without revolution in the worlds de-
mands for goods.
y rather better demand for staple
cotton goods does not relieve the over
production In print cloths. and goods
are practically unchanged in price.
Western stiffness in holding wool and
the New England wool paper drifting
this way and largely refused, indicate
another attempt to tire out the manu-
facturers, who are actually offering for
worsted wool to Jtcents below asking
prices, and buying scarcely any. Sew
eral mills have closed for the time
rather than pay prices asked for wool
The iron manufacture has nearly, IL
Hot quite, resumed It's ruiz production,
except in the valleys, where bessemer
producers are closing in turn under
agreement to force prices upward.
While there has been large buying, one
Pittsburg steel concern. with all it's
furnaces at work taking $4,000 tons
more, the price there does not change
as yet. nor does local pig at Chicago.
although with much better buying, one
southern concern advancing its price
% cents. Low phophorus pig has risen
80 cents at Philadelphia, with better
demand, but unchanged prices for
other grades. The demand for rails
includes bids for next winter and next
year. a Chicago sale of 1000 tons for
Japan and eastern sales of 5000 tons
for American roads. 5000 tons for
Prince Edwards island next year, and
$4,000 tons deliverable In three years
for Mexico. Plates are in unprece-
dented demand. both East and West,
and structural works are full. with
large contracts coming forward in all
sections. Bars are so much stronger
that many mills refuse less than 81 for
iIoh though steel bars sell largely at
90 cents.
Failures for the week have been 1876
IN the United States. against 23T last
year. and 2l In Canada. against 30 last
year.
Our troops seized 5000 pounds OF rice
= nArA DExa< loo.