The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-06-24
PRICES HOLD UP STRENGTH.
PRINCIPALLY APPARENT IN IRON
AND STEEL INDUSTRY.

AND STEEL
Remarkable Demand for the Fro
duet Continues to Keep 1t Way Tn.
WOODEN Market Is Looking Up and
Cotton Is Improving = Railroads
Report an Exceptionally Large
Traffic - Heavy shipments of Ce-
rcaIs-FaiIures for the Week.
New York. June 23.-Bradstreet's will
say tomorrow:
Less than the average of approaching
midsummer influence is discernable in
current trade reports Prices, too. show
a strength unusual at this period, and par
ticularly in view Of recent steady adj
vances. This is notably manifest, of
course. in the iron and steel industry,
where the tendency Of values is still up
ward though the advances reported are
not uniform at all markets. pointing to
individual instances of business done at
best possible prices. Where prompt de-
livery can be guaranteed, fancy quotations
are in many cases obtainable. and testi-
mony to the scarcity of supplies is uni
versal.
An unprecedented weekly output of coke
is coincident with statements that the
usual summer shutdown in iron and its
allied industries will be ignored, and
claims from Pittsburg of the placing OF
record breaking contracts for steel rails
for export to Russia, not, however, for
immediate delivery. Predictions of so for
Bessemer are well within sight OF realiza-
ton, and warnings of OVERRIDING the stu
alton are more numerous.
wooden Market Better.
Hopes of Improvement In the wooden
goods industry have mater allied In an ac-
tive demand at leading markets for the
manufactured product and simultaneously
from several markets come reports OF abb
normally small stocks of lightweight
goods in dealers hands. Wool Is more
active and firmer in sympathy herewith
and sales are larger, though mostly on
speculative account A feature Is heavy
sales Of high-grade domestic woods to for
eign buyers. but whether this wool will
go abroad depends upon next weeks Lon
don sales.
Improved crop reports are responsible
chiefly for lower quotations of products
declining in price this week. Wheat has
been affected by glowing reports from
spring wheat sections, but more especial
~ by continued enormous deliveries of old
crop supplies, pointing to the 1898 spring
wheat yield and, therefore. the aggregate
yie.d of the country, having been heavily
underestimated. A the decline however,
good buying on export account has de-
veloped
Cotton Is Improving.
Cotton crop prospects have continued to
improve and the raw price Is lower on
the week with slight shading claimed
a In In oil as a1f q
as a whole are in an exceptionally strong
position.
Raw sugar Is lower on unanimous re-
ports of improving crop prospects the
world over, but refined sugar is In heavy
domestic demand and firm.
In industrial lines generally there is lit
tie more than the usual friction as to
wages, the most serious disturbance of all
being the Colorado smelling works strike,
which is one partly of hours worked.
The usual summer shut down of glass
factories is now complete.
Railroad reports point to an exceptional
ly large traffic doing, and earnings con-
tinue favorable, particular in the Moth
west but passenger and freight rate cuts
are increasing.
Lumber retains all of its early activity
and strength alike as regards movement
and prices.
Movements of Cereals.
Wheat, including -four shipments for the
week, aggregate 3746,1S bushels, against
2,799, al bushels last week, 3779,470 bushels
in the corresponding week of 1888 2156,-
246 bushels in 1897 1881 63l bushels in 1896,
and 1896, 402 bushels in 1895. Since July !,
this season, the exports OF wheat aggre-
gate 22l, ,672 bushels, against 229,072, 303
bushels last year.
Corn exports for the week aggregate
ESP 4S2 bushels, against 32S5. 40i bushels
last week, 1902, 321 bushels in this week
a year ago; 2.2s1 SCI bushels in 1887; 1736,-
69 bushels in 1896, and sSi .261 bushels In
1885. Since July l, this season, corn ex-
ports aggregate 166 POS 15S bushes, against
1874, 1871 bushels during the same period
a year ago.
Business failures probably reflect the
semi-annual settlement, numbering for the
week 1879, as against $50 last week. 220 in
the week a year ago, 2l5 in 1897, 21S in
1896 and 2l5 In 1895.
Business failures in the Dominion of
Canada for the week number 10, against
p last week, 10 in this week year ago,
II In 1907 IN,