The star. (Reynoldsville, Pa.) 1892-1946, 1899-05-31
REVIEW OF TRADE.
Supplies Being Less Than the Demand in the
Iron Market, Prices Have Gone Up.

Supplies Being Less Than the Demand in the
Iron Market, Prices Have Gone Up.
X. O. Dun e. CO.'S weekly review OF
trade reports as follows for last week
There IL some fear that has no other
source than the habit OF fear. Men
have found for SO many years disaster
treadlng on the heels OF apprehension
that they lack faith in good things
present and to come. Every year there
In worry about short crops. and yet the
crops grow larger. The spectre OF
monetary trouble. haunts men who
KNOW that the country is strong be-
known that the country In strong be-
alarm men who are really quite aware
that II Is only needful to put promoted
stocks In a class by themselves.
All the time the volume OF business
is rising, and the weeks payments
through the chief clearing houses are
81 per cent larger than last year and
CS per cent larger than In 1892. For
month thus far the daily average is
1l.y per cent larger than last year and
66.4 per cent larger than In 1892. More
over, this week and every other brings
larger wages to many, and Increased
purchasing power and the demand for
products is consequently expanding In
all branches Of consumption.
The rise In bessemer pig iron to $i7 s.
at Pittsburg 81 In two weeks In gray
forge to sl5 %, In anthracite No. l to
S16 IS and In local and southern iron
at Chicago results directly from the
fact that supplies are for the time less
than the demand. Many more fur
naces are In haste to begin work, some
succeeding, but others hindered by DIFF
ficulty Of getting prompt deliveries OF
needed parts Of machines, or prompt
supplies Of ore and fuel.
The natural remedy that few orders
g. Il. H.
In April or March Is for the time hid
den by engagement Of nearly all con-
Germs for months ahead. The largest
and best works are catching up with
their orders. though much behind and
Obliged 10 refuse many. while others
are entering the field. IL Is proof OF an
astonishing demand that after nearly
five months this congestion continues,
and the rise in prices. including ad-
vances OF 50 per ton in plates and bars,
are not forced OF unnatural. -
Minor metals have followed London
so long that tin sticks at 1855 cents,
though stocks are large and the de-
mand Is remarkably poor, and lead at
AS cents, though the demand is slow,
while copper wcakens to 1s4 cents for
lake, British statistics indicating a fall
OF nearly quarter in consumption for
four months this year compared with
last.
The heavy sales OF wool. 1854. 90
pounds, at the three chief markets IN
three weeks. against 207s0. 300 pounds
for the same weeks In 1897. when the
disastrous speculation Of that year had
begun to turn. and li.2i2.l50 pounds in
1882. are mostly to Spectators, as
manufacturers are doing scarcely any
thing. Weeks ago they held that prices
were too high even after some decline
for the prices at which goods closed
could be sold. But western and east
crn spectators have settled II that the
manufacturer will be forced TO buy at
such prices as they may fix and are
taking large quantities.
Wheat advanced cents, but lost
nearly all the gain on Friday. Western
receipts have fallen TO about half last
years and exports in four weeks from
Atlantic and Pacific ports have been
l0.59O,i6s bushels, -four included.
against l3.69l.ss2 bushels last year.
while from northern lake ports 1894. .037
bushels have gone out this year. But
men forget that the foreign demand, IL
not as large as il was last year, with
famine impending. Is much larger than
In the same weeks OF 1887. when wheat
exports were only h7ei.s5i bushels.