The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-07-15
A WEEK UNPARALLELED.
Largest Volume Of Business Ever Recorded
Before,
WHILE FAILURES WERE FAR The LOWEST
The Demand for Iron ana steel
beyond the Capacity OF
Production.

New York, July t4,--R. @. Dunn q Co.,
Weekly Review OF Trade tomorrow will
say: Because every prospect pleases, II
Is the right time to watch most closely
for signs OF trouble. But 1t is not easy
TO find them when the volume OF business
is 63.1 per cent larger than last year and
i6,5 per cent larger than in 1899, the best
OF all years except the last. or when fall
ures continue the smallest ever known
or when the exports OF staples begin to
Improve materially, OF when railroad
| business Is by TAR the best ever known,
or when New York bankers appear IN In
| ternational operations listening TO Rus
sian Inquiry and undertaking a Mexican
loan. Even the industrial disputes Incl
dent to the season cause less trouble than
usual, the largest OF them having been
settled Thursday by the tin plate com-
pany. The Bank OF England finds II dit
iicult to borrow more FROM this side and
frankly raises its rates while the country
| begins to ship fresh crops Tor which Eu-
| rope will run into debt.
| Iron production In the first week OF July
was 26S,S63 tons, tor the past two weeks
less because the strike of July 1 closed
seven Chenango furnaces, which produced
| l2eO tons daily, though II Is expected 30
end today, and several other furnaces have
began producing this month, Tho in
crease OF 1901 tons weekly IN June with
a decrease of so. 400 tons In unso,d stocks
not of the great steel companies, implies
In production of about 1,l2S,6a0 tons In
June Consumption would DO lsog,0g0
tons, and In the half year 6.Sii2l5, but
for the fact that steel makers have stocked
heavily against orders running through
most of the year drawing from outside
supplies. go that consumption may prove
only 100000 tons or even less Prices
arc climbing. but only for the trinng
surplus not covered by contracts, so that
quotations represent but an insignificant
part OF the actual business. II Is or more
Importance that new orders, though very
many, seen no longer equal to the weekly
output except In few branches, while the
furnaces and other works practically
abandoned for many years are being
started again.
Copper is shade weaker at Is lac for
lake, the government reporting the output
in 1898 as 526.375.3al pounds. Tin Is
strong with London speculation at 2S.25
and lead is advanced by the smelling
companies to 4,55 The largest shipments
OF boots ma shoes in any year for the
season shows l93,0S0 cases in two weeks,
greater by IA per cent than last year.
Sc per cent greater than in 1897 and 29.s
greater than in 1892, resulting from very
heavy pressure to anticipate orders for
August and September, distribution far
exceeding expectations Hemlock solo
leather sells largely. but some kinds slow
ly with slight yielding In prices,
Though cotton Is steady in spite OF the
Texas Hoods at 619 cents and the general
demand for cotton goods is dull, and sus-
tRins prices a reduction OF half II cent in
some fancy prints 10 reported Larger
distribution is expected this month and
demand increased, In wool n great specu-
lntion is progressing, sales in two weeks
reaching 22,261. 100 pounds, against a.
572,S00 In 1897, and the buying was TO
anticipate new duties, 1t is worth notic-
ing that no purchases by manufacturers
are mentioned, save one for 400, 900 pounds.
though there is much calculation that tho
manufacturers must buy at any price
asked Western frenzies sometimes make
Eastern markets, but as rule consumers
make prices In the end.
In striking contrast with official and
other wheat reports are tho recorded re-
cepts at Western ports. S.0SS. 1i6 bushels
in two weeks against 1,471 ,739 last year.
II is not strange that prices have declined
/ Use and exports, flour included, were
from Atlantic ports In July thus far
4lS5,91i bushels, against d.Os3,312 last
year and from Pacific ports 1.0104S5, !
against sol 100 last year, besides 100000
bushels this year from other ports.
Corn exports are also surprising 5,sl5.- |
pa bushels in two weeks against 2.557. O9S |
last year but less surprising than Western I
receipts of l0,5l2,3i1 bushels against I
4 661, OIL last year. Nevertheless the price
advanced 5-Sc,
Failures for the week have been 16l in
the United States, against 2l5 last year,
and "a In Canada, against % last year.