Omaha daily bee., 1899-02-18
INFLUENCE OF TRUST MAKING
Business Expands Despite the Formation Of
Many Monopolies,
NV WANTS CREATED BY GROWING PEOPLE
Enormous Operations In Iron and
steel Trade II Feature Of the
Weeks Observation-Disclosures
Raise Grain Prices.

NEW YORK, Feb. lI-R. @. Dun & CO.'S
Weekly Review of Trade will say tomorrow
Beyond question business is expanding and
In May branches it is larger, notwithstand-
ing speculative combinations which tend 70
reduce IT,. All mono.o.ies, or attempted
moaopolIes, 'imulate business while they
are coming, but tend to s.ttle II after they
come and the throng Of combinations and
trusts which have been formed or proposed
have given a temporary but very question
able impetus TO the trade. But beyond the
influence Of these there is a genuine and sub
stantial enlargement OF BUSINESS, due TO the
uneNampled prosperity Of a growing ropula-
ton.
The weeks output Of pig iron, February l,
was 237, 500 tons. against 243, sic January l
and 235, j2S December l. The average weekly
production thus indicated was about 1000
tons greater in January than in December
and the unsold stocks were reduced 1851
tons in January, agains. 37,449 In December,
so that the apparent consumption in manu-
lecture was, January /, ~l,llO,OI9 tons,
against ~l,0yS,lI6 in December. The stop
page OF several furnaces for necessary re-
pairs at a time when the demand is most
pressing has caused some fear Of famine, al
though quite a number of other furnaces
have started since February l, or are about
to start. Pig iron has advanced, but the
largest consumption ever recorded in ANY
month Is in part due to the hasty purchases
of products about TO be controlled or ad-
vanced in price by a combination. There are
so many of these in the iron and steel in
dustry that the present market does not
clearly indicate the magnitude of demand
and disappointment in some branches is not
improbable. But the rise Of 81 in steel
rails, with the entire capacity of all works
engaged until after July, is not unnatural
nor the strength in plates, for which the
legitimate demand Is beyond all precedent,
and the same is true Of bars, the quantity
required for cars, railway and agricultural
implement works being enormous In pipe
the association lifted prices per cent.
No fictitious demand has caused the rise
in grain, for the exports continue so heavy
in wheat and corn that the advance Of 34
cents IN wheat is abundantly justified and
the rise of q cent In corn seems scarcely
enough for the occasion. Atlantic exports
have been retarded by the blizzard, but have
been 2,255.115 bushels, flour included,
against 3~,l42,057 last year, and for the crcp
year thus far the exports, Including flour,
have been 156, 7S7,S40 bushels, against 143,-
that the exports OF corn are almost as large
as the largest ever known, there is reason
for astontshnent at the continued foreign
demand. That it persists in spite OF the
strong advance in prices here since Septem-
Der 1 is most encouraging. 1t is obviously
impossible to judge how far it may go.
Nor does the foreign demand for cotton
ahate. although the price has again been
raised 3-16 cent during tie last week. The
: exports have decreased some, but the con-
trolling fact is that a remarkable shrinkage
in receipts from plantations appears to indi-
cate a smaller yield than has hitherto been
expected. 1t should be remembered that the
receipts have been greatly hindered of late
BY bad weather and when it passes away
they are likely to look large, as they now
look small, but snow in New Orleans also
means failure to save the market some cot
ton which might otherwise be saved.
The heavy demand for gools helps to ad-
vance prices just now, although 70 assurance
can be given that the declining prices VIII
not partly check that demand.
There is much mare inquiry for wool and
the manufacturers have q larger demand for
heavyweight goods, but they maintain that
they cannot pay prices now demanded for
wool and most OF the purchases made appear
to have been at some concessions. Sales at
the three chief markets were 6,160. 200
pounds, which is about the weekly consump-
.ioA, with eastern mills well employed, but
they were partly n speculative account and
in fine AMI fine medium sales are meo-
toned at 40 cents cleaned and in Ohio Xxx at
20 cents and upwards.
The minor metals Rave been running
weaker with a reaction in London, although
the industries have shown no abatement Of
demand in this country and the rise in prices
here is largely due to increased consu:np-
ton.
Failures for the week have been us in the
United States, against 295 last wear, and
eighteen in Canada, against thirty-ive last
year.