The San Francisco call., 1899-09-23
Dm's Revie7v of Trade.

NEW YORK, Sept. Pr. G. Dun & CO. s
weekly review of trade will say tomorrow:
The reaction in the stock market is not a
sign of anything outside of the market. but
has set many to look for signs of a reaction
elsewhere. Such signs have been hard TO find.
1t has been for months a wonder that the de-
mand for products was sustained at rates eX-
ceeding past consumption in any year, not
withstanding the general rise in prices But
the demand does not appear to abate. and the
rise in prices continues A partial explanation
is that scarcely any class of products directly
consumed by individuals has advanced as much
as the wages and employment Of labor. With
hands work more hours and with 10 TO
Is per cent higher wages, the gain in purchas-
ing power has been quite beyond the rise OF
per cent in boots and shoes this year. or per
cent in leather, 50 per cent in woolen goods,
or 10 9 per cent in wool and even beyond the
rise of II per cent in cotton goods, mainly due
to the rise of l3 per cent in cotton. But pro-
ducts used in manufacturing and transporting
have advanced much more, because OF the enor-
nous increase in volume of business done ana
in anticipated business for the future. Higher
prices cause shrinking demand, other things
being equal, but this year other things are not
equal.
Wheat exports fall a little below last years.
but in three weeks -four included, have been
S.656,S77 bushels from Atlantic ports against
9293, 3Sl bushels last year and 1,02l, 99S bushels
from Pacific ports against 907 96l bushels last
year. But Western receipts have been 21 759,
S52 bushels against %, 099 397 bushels last year.
and even more impressive are the receipts of
els last year, and the exports of 9,201 427 BUSH
els against 5,943. $50 last year. Prices moved
little either way until Friday, when a sharp
advance made the weeks gain Ac. Further
Government reports have been so far accred-
tied abroad that cotton has risen to 662c. but
II comes forward more freely than in years of
maximum crops.
When men pay SO and IS per ton more than
the latest quoted price for iron products in
der TO get early deliveries, 1t is because delay
is threatened on works or railroads or bridges.
vessels or machinery, promising a net profit
times fraction
material. In such circumstances. as in much
of the reconstruction and expansion going
on, present cost counts for little compared with
the earning power of the finished product in
time like this. Bessener and anthracite pig
are unchanged, grey forge at Pittsburg and
Chicago and Southern iron are higher, bars 81
per ton higher and plates SO per ton and rails
81 per ton. Most of the business is for next
year, with premiums paid for more speedy de-
livery.
cotton mills have developed contest between
those favoring local non-ocal management
with a new selling arrangement announced for
other plain goods we'll for print-cloths
Prices of prints have been cut one-quarter cent
for indigo blues. but otherwise the demand is
strong. The American Wool Company has an
nounced that the whole production of all its
worsted mills has been sold, which may give
unexpected opportunities for other mills. Its
contracts for a great quantity of machinery in
dicate belief that within it's field the demand
for goods will much exceed the capacity of its
stronger since the general advance at London
Sales at the three chief markets were Is, ,443 500
pounds
Failures fer the week have been 154 In the
United States against 173 last year. and in
Canada u.s. against l6 last year.