The times., 1899-11-18
DUN's REVIEW OF TRADE.
Business Fairly Active and Prices
Generally Firm.

Business Fairly Active and Prices
Generally Firm.
NEW YORK, Nov. 17.-Dun's review to-
morrow viii say:
Large sterling loans. followed by the
offer Of the Treasury TO buy bonds, have
materially changed the situation in the
stock market There has been no strin-
gency in the money market except, as be-
fore in the supply of funds for speculation
on call loans and. though some feared in
dustrial work or markets for products
might be affected, it does not appear that
they have been at all. Since this was the
belief expressed by Secretary Gage just
before the bond purchase was announced,
that step was not designed by him as a
relief to the market" but as embracing
an opportunity which might not soon re-
turn Of lesseutng the interest bearing debt
of the Government at advantageous terms.
With larger revenue than the Treasury
needs part OF the interest bearing debt
created during the years of depression may
be Cancelled. 1t is calculated that the ope-
ration if successful will save the Treas
ury about $2, 400 600.
Stocks had shown quite noteworthy
strength In resisting the depressing infu-
enCe of high rates for money before the
change came Railroad stocks were almost
as high at the close on Wednesday and
industrials a little higher than on Friday
last and with easier money both advanced,
the average for railroads closing 81 cents
higher and for indusLrals $l.11 higher for
he week
The signs of shrlnkage in the new de-
mand for iron and steel products become
more clear. and while prices of pig are
maintained without change and bilets are
quoted lower only because premiums for
earlier deliveries are no longer paid, plates
are quoted lower at the East. with some
small mills selling a % at Pittsburg, and
sheets are sold by some works there at So
TO 81 less than the regular price.
Shipments of boots and shoes fall off.
and yet are larger than in any previous
year. for the first two weeks OF November
lS2. .2S1 cases against 1G3.759 in 1887 and
1862 in 1894 and less in all other years.
Advances asked. especially since the re-
cent rise i'm leather have prevented much
! buying though many works still have
business ahead for some time. Textile
manufactures are doing well although in
! woolens the speculation in material
/ threatens to cause some embarrassment
| Sales OF wool We're again heavy, 21,642, 81
| pounds at the three chief markets. making
| in two weeks 41823,Sl1 pounds, against
! II i37 100 pounds last year when the mills
| were well employed. Cotton goods con-
! Gnue to advance with a strong demand
and with belief in a short crop, so that
| some have been for the time entirely with
| drawn from the market by the mills while
| bleached were advanced to the highest quo
| tation for four years.
| "Conficting estimates Still make the
| cotton market excited. but after falling
an eighth the price has recovered six
| teenth. The increased sales by planters
! a. shipments from plantations appear Il
have had rather more influence than shor
crop estimates. though from high authori-
| ties Wheat declined a fraction, but fully
recovered, although Atlantic exports were
only 1876 SOL bushels, flour included
| against 1858 76S for the same week las
year, and Pacific exports 720 1913 bushels
| against 988, ,093 last year.
The volume Of business continues be
| yond all precedent for the week IS pc
cent larger than last year, and 56.9 per cen
larger than 1892 Failures for the weel
| were 2lq in the United States against %
last year, and 10 in Canada against 2
| last year.