Omaha daily bee., 1899-04-15
MONEY MARKET IS AGAIN SAFE
Disturbance of Speculation and Trust
Forming Quiets Down,
INDUSTRIES MAINTAIN STEADY TONE
WOODEN Mills Are buying Goods More
Freely and the seems to
lie ImproyIng-Mercnntile
Lines and Cereals.

NEW YORK, April 14.-R. G.. Dun G. Co.'S
Weekly Review Of Trade tomorrow will say
There is still an increase in all legiti-
mate business, and the productive power of
great industries increases even though some
of their stocks decline. The sharp reaction.
in speculation a week ago in no way affected
the producing capacity of furnaces or mills,
and has been in part recovered, While the
disturbance of business caused by the for
nation OF great combinations has in large
measure ceased. The money market is ia
safer and more wholesome condition, and Ia
spite of four heavy payments by large syndi-
Gates, amounting to about $50, 900, 600, has
grown easier. The only stringency has been
in call loans.
1t is not owing to speculation alone that
payments through the chief clearing houses
have been so per cent larger than in the
same week of 1892 and 1888 per cent larger
than last year. New York transactions far
exceeded those OF any previous week, ST.
46S, 500, 700 in amount; but outside New
York the clearings were Ais per cent larger
than in 1898 and 44.6 per cent larger than in
1892. The truth is that no such expansion in
the general business of the country has ever
been seen before, and IL such records only
were considered there would be ground FOL
fear that q wild passion of trading had again
lifted the whole business community OFF its
feet. Instead, there is an increase in the
chief industries.
Returns Of raw materials imported give
definite indications. Raw silk imports In
creased 81 per cent for eight months of the
fiscal year over last year; hides, 40 per cent;
India rubber, &c; tin. 81, and fbres, 10 pei
cent.
The output of pig iron April 1 was 245, 746
tons weekly, against 22S, 1888 March l, with
116, l1S tons decrease in stocks unsold ana
I 16. 600 tons in warrant stocks, indicating u
consumption in manufacture of 1,O56,O43 tons
in March. The haste of forty other furnaces
to get into operation, with their possible
output Of 80, 900 tons more weekly, has helpeu
to keep prices Of pig iron quite steady, al
though strong, but the demand for finished
products is far from satisfied. the Mary
land Steel company has orders for Io,OOO TONS
steel rails for the Chinese Eastern. Plates
have sold at $2.1O for sheared at Pittsburg,
but the leading mills there and mills else
where are crowded for months, ana many
will not quote at all. Large contracts were
closed in structural works, one for 5000 tons,
lust before the advance In prices; but chi
cago orders this week cover 5000 tons or
bridge work, and everywhere there Is much
business in sight.
Bar and sheet mills are hindered by pros
poets of consolidation, but though few orders
for bars are taken just now at the west the
Philadelphia market is more STEADY steer
bars raised 81 per ton at Pittsburg ana the
heavy demand for sheets makes prices very
irregular. with many orders refused.
The Connellsville coke product, 1I9,l63
tons. for the week surpasses all records. and
prices are steady, as before quoted Lax
CONFER is strong at 1870 and scarce, ana TN
went up, with London declining only to 20
Per cent.
In spite of some strikes because wages
were not raised as much as hands expected
the cotton industry has a very good demand
and most of the mills are working satislac-
torily. A southern combination or nhe
goods makers is proposed, like that OF Fall
River mills, which has kept prices quite
steady of late. Wooden mills have begun TO
buy wool more largely, though at prices
much of their own making. but there is an
improving demand for goods, with iisnt-
weight purchases continuing. surprising 1or
the season. Sales of wool at the three mar
kets have been 16, 1872, 900 pounds IN TWO
weeks. against 1885, 900 pounds last year
Wheat advanced about IL cent, accounts oi
injury discovered since April l supplement
ing the government report. Were the Worst
of the stories true there is yet spring wneat
seeding to make up for deficiencies, though
the season is getting rather late. ENports
have been reduced. Atlantic seapoard snip-
meuts, flour included, amounting TO S,ooD,-
3S0 bushels for two weeks, against o'2So'lso
bushels last year, and Pacific TO oo4'oo-
bushels. against 2,093, 942 bushels last year
With other exports $685. 77 bushels. Corn Is
a shade stronger and in two weeks exports
have been 6,1s4, 693 bushels, against e'l4o''
6Sl bushels last year. T., enc
Failures for the week have been 100 III 'ne
United States, against 254 last year, any
twenty-five in Canada, against eighteen ias'