The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-06-03
THE CONDITION Of TRADE
Retail Trade Stimulated by
Warmer Weather.
HEAVY SALES IN STEEL
Increase of Prices Has Not Checked the
Export Demand for Iron IA
Speculative Interest in
Cereals

I1UEToW Will Sdy. IlOludy uboSi NotiSSe
and warmer weather have worked to-
ward smaller aggregate of specula-
tive transactions and less pronounced
activity in some dimes of wholesale
trade this week, while naturally slim
ulating retail business at most centers,
a point which is full of interest to
wholesalers in view of possible reas-
sorting demand and new business for
fall account. Current bank clearings
reflect the former influences in consid-
erably reduced totals for the week.
while cheerful adyices as to trade IN
May as a whole are confirmed by very
large bank returns for that month, sec
ond only in fact to the monthly totals
of January and March, the latter hold
ing the record in this respect. The IA
vorable effect of the immense current
of industrial activity and consumptlve
demand offsetting the smaller tonnage
of cereals now as compared with
year ago is found in the continued GOOD
increases in gross railroad earnings.
Net returns are, it is true, not quite
favorable, but it is to be recalled that
comparisons now are with specially
good reports year ago.
In industrial lines the demand for
and strength of iron and steel are the
most interesting features. Heavy safes
of the cruder forms are reported this
week for fall delivery, and prices are
higher all around, from 80 cents to 81
per ton on pig iron, nearly all classes
of steel, rails and finished products
generally. Further progress in the
consolidation movement is reported in
this industry, number of tube miils
having pooled their interests. Fears
that recent heavy price advances VIII
disastrously affect our export trade In
manufactured iron and steel still lack
confirmation, feature in fact being
the placing of a good sized order for
pig iron at full rates for export to Ger
many. Reports that prices nave
checked domestic industry are trlne
more numerous, but even here the tfou-
BILE seems to be rather the question OF
delivery than of enhanced value. Rath-
err more speculative interest has been
observable in cereals, particularly
wheat, this week. A sharp advance &C.
Cured early on reiterated reports OF IN
sect damage to the winter wheat crop
and the less favorable advices from
Russia and other countries, but re-
action occurred later, thus pointing to
the speculative position having tenn
porarily been over. Heavier shipments
from Northwest points are taken to in
dictate confidence in full yield or
spring wheat.
The wool trade is in an interesting
position just at present because manu-
facturers are still backward in placing
orders and the recent speculative buy
ing has not reduced domestic stocks
materially. The reverse is true, how
| ever, of stocks of foreign wool, which
have been depleted by recent exports
| of Australian sorts. Refined sugar IS
in especially good demand and the ad-
vance of the fruit season foreshadoWs
| w. he
| Business failures are down to a low
| summer minimum. numbering only 129
against 1853 last week, 17S in this week
a year ago, 1872 in 1897, 236 in 1896 and
| 1856 in 1895.
Eastern markets generally report con-
| ditions as favorable. Features at the
| West are strength in iron at Chicago
| where 100, 900 tons of pig have been sold
in two weeks, and lumber prices are at
| the 1892 level st. Louis reports a. sat
isfactory volume of jobbing trade In
May cattle, active at good prices, and
a satisfactory summer business in dry
| goods foreshadowed.
| Metals are strong and active at
Cleveland, and Kansas City re-
| ports generally good trade and collec-
tons, but agricultural implements rath-
| er slow of sale. Southern trade adVlces
are generally good.
| A satisfactory report comes from the
Northwest, where business and the
| crop outlook continue favorable. On
the Pacific coast an average wheat
| crop is indicated in California, but in
| oregon warmer weather is needed to
| help crops and business.
Cereal exports begin to show an i'm
provement.
Since July l this season the exports
of wheat aggregate 212,065,4 bushels
against ZIG, Jas O64 bushels last year.
A good average business is doing in
the Dominion of Canada. Failures for
the week number only IS, against % a
week ago. q in this week a year ago,
81 in 1897, 20 in 1896 and 81 in 1895.