The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-05-20
DUN's REVIEW.

New York, May 19-R. G. Dun & Co.,
in their weekly review of trade tomor-
row, will say: Decline in stocks after
the death of ex-Gov. Flower was en-
tirely natural. His personal influence
was worth many millions to corpora
tions which he chose to join. me
stocks in which he was most largely IN
terested were strongly supported ano
an hours weakness began to recover
but his place in business will not DC
filled in an hour. No other occasion
appeared for weakness in the market,
and a very large share of the depres-
sion in industrial stocks had previous
ly appeared Tuesday, owing to the mul-
tiplication and highly magnitied stories
of new combinations in iron and steel.
The official report of foreign trade IN
April showed a decrease compared with
last year of SIS, 900 in the export of
the principal products but an increase
in manufactured articles, and in that
respect the month was only surpassed
by March. While buying 200 tons OF
Bessemer pig at Pittsburg gave reason
for the advance in price to $3.50 with
Grey forge quoted at SIS per ton, 1t is
not quite as clear as it might be that
the output, which was 255 600 tons week
ly, according to the Pittsburg Record,
by the addition of many furnaces, will
continue to fall below the demand.
For the requirements in various de-
partments for manufactured products,
it must be recognized is scarcely meas
urable and does not seem as much di-
minished as might be expected by
higher prices and long delay in deliv-
cry. The shipments of boots and shoes
from the east have been for two weeks
az Ia, a ct
year.
Leather shows hesitation, dealers ap-
parently questioning whether the rise
has not been too much and at Chicago
the same question through the market,
though advances are slight. Specula-
tors are doing a large business in wool,
some foreign and some American; they
had bought about 100000 pounds
Australian wool in bond here,
pounds domestic territory wool is also
said to have been sold for export at
about ~ cents clean.
But this does not cast much light
on the question whether the speculative
sales abroad have yet been covered, or
will be within a short time, nor is there
any indication that the market here
will respond to the temporary foreign
demand The orders for wooden goods
wooden association is not yet in oper-
alton, it seems to have given a certain
kind of confidence to prices in the
wooden goods department.
Cotton declined small fraction Mon
day, owing to free report movement,
which made it probable that at the end
Of this week the amount in sight would
about equal last years record breaking
figures. But there was a recovery of
all the decline in middling uplands and
d net gain in option prices.
Wheat has been rising during the
past week about four cents, and no
body can tell why, although the ex-
ports in the past two weeks have been
10,569,0O6, -four included against S,135, =
124 last year. Better shipments were
expected after the opening of naviga-
ton, and there is really no use in con-
sidering the dreams of western specu-
lators at this time
No one can folm a demand at this
time regarding the output which will
be visible to everybody in the middle
of July. The best that can be done is
to accept the crop reports, official and
other, with almost indefinite allow
ances. Failures for the week have
been 147 in the United States against
251 last year, and II in Canada against
~ last year.