The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-01-10
DUN & CO.'S TRADE REVIEW
Business Still on the Up Grade-IrOn
Mills Refusing Orders Because Al.
ready Over CrOVVded-Our Foreign
Trade Enormous and the Balanc
Greatly in Our Favor

OAO0sAy IL IA raw
New York, January 6.-R. G. Dun &
Co.'S Weekly Review of Trade will say
tomorrow:
The year begins with the kind of
business demand that counts. For
months there has been a rising de-
mand for materials, but now the
browning demand for finished products
begins to advance prices in the iron and
steel industry about 1 per cent. without
Quotable changes in pig, except at the
east. Beams a advanced 81 per ton,
angles 81, bars 81, and plates are
strong, with an Australian order for
80, 900 tons refused at Chicago a
the works are already Overcrowded.
Many thousand cars are covered by
orders at Pittsburg; 10000 ton of Jars
are taken for agricultural works at
Chicago; 105, 900 tons of rails are taken
by the Pennsylvania Company; the
Midland Railroad Company of England
has ordered twenty locomotives from
the Baldwin works and many other
home and foreign orders are reported.
The demand has never been greater at
the beginning of the year than it is
now.
The wooden manufacturer las a SIM
liar embarrassment. While 1000 quota
SAOAAo VI "OoA w SOolSS "
Philadelphia, average 1903 cents,
against 2O.1 a year ago, the market is
gradually yielding, because people ap-
preciate the magnitude of stocks on
hand, while The Boston Commercial
Bulletin reports at 291, 900, 900 pounds,
an increase in it's account of ia, 00O, 900
pounds for the year.. Obviously this
means a great movement from the
farms to millers' stocks and eastern
markets, but prices are moi low enough
to encourage large buying or consump-
ton by the manufacturers. The only
heavy weight goods yet opened are
at reduced prices, as had been expected
and it is still uncertain how far the
trade for the coming season may prove
satisfactory.
Cotton goods are in fair demand,
with cotton at 5.87 cents, and while no
body "a guarantee that the price will
not go lower, it is believed by compe-
ten observers that the market for
goods is so far relieved Of accummu-
lated surplus that prices are not like
ly to decline materially, even If cotton
falls.
The movement of cotton thus far in
dictates a crop over 3O0,0 900 bales
larger than that of last year, in spite
of all natural disposition n concerted
efforts to hold it back. AS producers
are not this year in nusual need, a
movement so heavy binders any ad-
vance in price, although takings Of
spinners have been as large in 1898
as in any other year, and exports lar
ger than before.
The wheat movement has to sustain
the largest foreign demand movement
ever known for wheat and corn togeth-
er, and Atlantic exports of 5,214,420
bushels, flour included, against 2,S40, 31S
last year, with Pacific exports of 614,-
833 bushels, against S72, 446 last year,
would give some reason to anticipate
higher prices, were not the western re-
ceipts 4,101. 532 bushels; against 1885,
or for the same week last year. The
Wonder is that the foreign demand for
corn continues so heavy, 3,572,4 ALP bush
els having been exported in the week,
against 1854, $50 in the same week last
year..
The country is on the upgrade and
the men who expect it to take the
downward roa have yet some time to
wait. There are no indications of the
reaction which always follows a large
and rapid business recovery, and ex-
listing conditions in the industries and
in foreign trade by no means forbid the
hope that the increase may continue,
as it did after the revival in 1879 for
several years.
Exports compared with imports con-
tinue to indicate an balance
in cash due this country, and gold i'm
ports begin again.
Failures for the week have been 243
in the United States, against 322 last
year.