The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-03-07
.HIVE NOT HURT TRADE
AZ N Effect on Business by Reck-
y" less Stories.
CONFIDENCE IN ADMINISTRATION.


.-oduction of Pig Iron Is the Greatest
- Known--stiG Price for Bessemer
,,u,.,s-Heavy Exports of Wheat Con-
.,.n.-Few Failures in February.
,,o,y York. March 7.-R. G.. Dun Il
~ "a weekly review OF trade says:
series of the most reckless sort, dis
vowed promptly, and many OF them
.soro they are told affected specula-
49,, IN stocks much last week, and at
.,u,os this week, but they have not dis
.mrhed the industries and the trade of
.So country at all There Is confidence
not the authorities are doing what Is
~noner 70 provide for public defense,
"a a. will not be seriously disturbed.
- Grain. cotton, meat products and
-o,roleum the markets have been
strong with gradual increases In the
demand for manufactured produets'
Few Failures in February.
Failures i'm February have been small
,bon in any other month except
tbree of the previous five months with
.a,,,orkab bile decrease in the failures Tor
stoo ooO and over, though in number ana
ooount the smaller failures show less
aharge than might have been expected,
,adicating that in good times or bad
large proportion is due to causes
ort from the general condition OF
h,,e;ness The ratio OF defaulted la
hnities 10 payments through the clear
inc houses is but $1.1 per $1,000, a
lower rate than has appeared In the
and 1891. of the past twenty-three
years The best evidence or general
mprovement is the fact that payments
through clearing houses for the past
week have been % per cent larger than
IN 1909 and outside New York, with Its
speculative interests, 17.6 percent. Com
nared with last year the gain has been
5s2 per cent. for the week and 49.S per
cent. for February
Big Output Of Pig Iron.
The production OF pig iron Is the
greatest known, some furnaces having
started in the past month, but Besse-
mer billets are so scarce in Chicago
that some works are embarrassed, and
heavy purchases at Pittsburg, includ-
ing one of $4,000 tons, have stiffened
the price so that Bessemer pig iron and
local coke at Chicago are stronger than
since Nov 1, with gray forge un-
changed at Pittsburg. Foundry at the
east is slightly lower, basic pig having
been offered in a sharp competition al
about $40, though southern makers In
Alabama and Tennessee, excepting two
have agreed upon a plan OF scale through
a commission. The demand for nm
ished products covers work far ahead
in plates, structural forms, sheets, In
pipe since the advance in oil, and In
rails, with a Chicago sale for Canada
road to Alaska; but bar Is weak, with
increasing use of steel.
Tin Is Stronger.
Tin plates are quoted at s2.S5, against
"a for the same quality OF foreign. Tir
is stronger at 142 cents. and lake cop
per at 11.S7 cents The strike in cottor
mills does not spread, but helps to
slightly better demand for some goods
while in woolens the business is slow
in some Of the finer qualities, whicf
have been much advanced in price, ant
in these and other grades as well can
cellations have also exceeded recorders
indicating less distributing than was ex
pected at the advanced prices. Woo
has yielded a little, the average OF To-
quotations by Coats Bros. for domestic
being 20.23 cents, against 2O.SS cents
Feb. /, and while yielding is thus IA
mainly in inferior qualities; stocks a
least three years old are pressed 70
sale.
Wheat Exports Continue.
Wheat has grown stronger. exports
continuing at a rate which threaten
exhaustion of supply. If trade reports
Of farmers stocks are correct. From
Atlantis ports 2.426.240 bushels wen
out -four included, against 1,36S,416 las
year, and from Pacific ports S64.99S
against 479,959 bushels last year. Tn
price has risen 1 cent, but IL is possibl
that the estimates of last years stock
that the estimates of last years stocks
though 5O,000,000 bushels in excess o
the government estimates, may prov
too small. Corn has declined only one
quarter Of a cent, with exports of 4,
74s,S43 bushels, against 5,221,7s5 las
year.
Failures for the week have been 20
in the United States. against 246 las
year. and thirty-two in Canada, agains
ffty-nine last year.