The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-05-27
DuN's REVIEW.

New York. May 26.-R. u. Dun c
Co.'S weekly review of trade tomorrow
will say: There is some fear that has
no other source than the habit Of fear.
Men have found for so many years dis
aster treading on the heels of appre-
hension that they lack faith in good
things present and to come. Every year
there is 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-
yond any need. Promoting methods
alarm men who are really quite aware
that it is only needful to put promoted
stocks in a class by themselves.
But all the time the volume of bust
ness is rising and the weeks payments
through the chief clearing houses are
62.1 per cent larger than last year and
$50 per cent larger than in 1892. For
the month thus far the daily average
is $40 per cent larger than last year
and 664 per cent larger than in 1892
Moreover, this week and every other
brings larger wages to many and in
creased purchasing power, and the de-
mand for products is consequently ex-
panding in all branches of consump-
ton
The rise in Bessemer pig iron to
$17.65 at Pittsburg, 81 in two weeks, in
grey forge to $1525, in anthracite No. l
here to $16.75, results directly from the
fact that supplies are for the time less
than the demand Many more of the
furnaces are in haste to begin work
some succeeding, but others hindered
by difficulty of getting prompt deliv
cries of needed parts of machines or
prompt supplies of ore and fuel. The
largest and best works are catching up
with their orders, though much behind
and obliged to refuse many while 9TH
ers are entering the field.
1t is proof of an astonishing demand
that after nearly five months this con-
gestion continues and the rise in prices.
including advances of 81 per ton in
plates and bars, is not forced or I'M
natural. Minor metals have followed
London so long that tin sticks at $25.65
though stocks are large and the de-
mand is remarkably poor and lead at
$4.45 cents, though the demand is slow,
while copper weakens to 1879 cents for
Lake, British statistics indicating a
fall Of nearly quarter in consumption
for four months this year, compared
with last year. Boot and shoe ship
ments are 21.10 larger than last year
for three weeks of May, 10 per cent
was unprecedented, and 35.9 per cent
larger than in 1892.
The new demand is smaller since the
rise in prices, which now extends to
womens shoes, but most works have
orders as far ahead as they desire.
The heavy sales of wool, 30,954
pounds at the three chief markets in
three weeks, against 20, 900 for the
same weeks in 1897, when the disastrous
speculation of that year had begun to
turn and Ia, 212, $50 in 1892 are mostly to
gnppu11t0TS q manufacturers are do
ing scarcely anything.
Weeks ago they held that prices were
too high even after some decline for
the prices at which goods could be
sold. But western and eastern specu-
lators have settled it that the manu-
facturer will be forced to buy at such
prices as they may fix and are taking
large quantities. According to Coates
Brothers circular of May Is, prices had
not changed since May l, and while
the tone of the wooden goods market
is somewhat better the future is in
doubt, and there are no signs of buy
ing by mills. The cotton mills have
fairly good demand after a consider
able advance in prices of goods and are
producing largely.
The material has been steady at 6A
cents with no ground to expect much
change, and the best reports indicate
4
per cent. Wheat advanced two
cents, but lost nearly all the
gain on Friday Western receipts
have fallen to about last years, and
exports in four weeks, from Atlantic
and Pacific ports, have been 10,509, 168
bushels, flour included, against 13, $751;
$50 last year, while from northern lake
ports 7926,037 bushels have gone out
this year. But men forget that the
foreign demand, if not as large as it
was last year with famine impending,
is much larger than in the same weeks
of 1897, when wheat exports were only
5,704,S S4 bushels, and also forget that
the Letter speculation caused a who'll
ly unnatural May movement last year.
Corn exports, though only 1O,0O7, s62
bushels, against 2O285, 097 last year,
were also but g. 360,091 in 1897 Failures
for the week have been 142 in the I'm
tied States, against 245 last year, and
Is in Canada, against 81 last year.