Omaha daily bee., 1899-05-13
DUN'S REVIEW OF BUSINESS
Trade in All Manufacturing Lines Holds
Up Well
STEEL WORKS ARE BEHIND IN ORDERS
Boots, Shoes and Leather Goods show
Greatest Advnnccs--NIilIs Through
out Country Wen Employed
Acreage of wheat Curtniled.

NEW YORK. May 12.-R. G. Dun & Cos.
Weekly Review of Trade will say:
To speak truly OF business this week one
must free the mind of stocks. For severe
decline in manufacturing stocks has created
an impression that It has some relation to
productive industry. but it had none. There
was no change in the money market worth
mentioning, and the volume of business
shown by payments through the principal
clearing houses was 1l,5 per cent larger
than in 1892 the year of greatest prosperity
Never before reaching a quarter of a
million tons per week, the Iron Manufacture
reports May / an output of 250,000 tons
weekly with 54,455 decrease in warrant and
furnace stocks, indicates a consumption of
3I,322 tons daily against 37,035 in March,
34,Sl4 in February, and S6,S94 in January.
The average for four months is 3S027 tons
daily against 32 ,209 last year. An increase
OF l6 per cent in the year would be less
interesting, if consumption a year ago
were not far beyond anything previously
realized. Yet proposed combines hinder
large orders in bars and sheets, while
structural business is as heavy as ever in
small lots with contracts about to come at
Chicago for the drainage catal and the plate
business too big for all the works TO
handle, the Chicago and Philadelphia works
being behind in deliveries and Pittsburg
works troubled by demands for 1000 tons
vessel plates and 1000 more close ahead for
tuS government uOChS at <AiSlGlS. Ouly plB
iron advanced, Bessemer so cents, and gray
forge 20 cents at Pittsburg and local pig 90
cents at Chicago. In minor metals tin de-
clined with London to 25.3 cents and copper
is weak at - cents for spot and 1S1a cents
for futures.
Greater than in any previous year by 9.S
per cent the actual shipments of boots and
shoes from the east reflect heavy business
with general advance in prices. Hides at
Chicago rise about 10 per cent with actual
receipts of cattle in four months, 100000
head less than last year, and over 100000
smaller than in 1884, notwithstanding the
gain in population. Cotton Is a shade
stronger at 625 cents Mills are well en-
poyed throughout and single sale of over
million pieces prints gives a great as
surance to the market.
Nobody who has studied statistics can tell
why purchases of million pounds Austrar-
ian wool for export this week, following
others in previous weeks, should advance
prices of wool But it is just the time for
growers to ask all they can hope to get
and just when the largest manufacturers
were ready to buy only the smaller are buy
ing. Prices are said to have been generally
advanced with higher demands from the in
terror holders. But it remains a question
whether sales of 1O,499OOO pounds for the
week against 5,269550 in 1892 and only a
little more in 1897, will prove profitable.
If government estimates were considered
reliable, one based on entirely unknown
acreage of wheat and cotton would be
everywhere resented. Thus, with official re-
turns pointing to a great decrease in winter
wheat production. the price dropped 1 cent
and cotton declined for options. though re-
tanning the advance of a sixteenth for spot,
which established before the govern
ment report appeared. Nobody can base
sensible estimate on the condition which
takes no account of the acreage of winter
wheat killed and abandoned. The best that
can be said is that worse returns were ex
pected in both markets, so that the govern
ment report had no influence.
Failures for the week have been 165 in the
United States against 246 last year and 20
in Canada against "a last year.