The record-union., 1899-08-19
Situation Gathers Strength as the
Summer WaneS.
CHEEKY Outlook for Fall Business Come In
From Almost All Sections.
Production in Manufacturing
Lines Appears to be at Maxi
mum, and the Price Situation
Retains Most OF It's Old
Strength.

NEW YORK, Aug. Is. Brad
streets" will say tomorrow:
The trade situation gathers strength
as summer wanes. Reports of expand
ing fall demand arrive, accompanied by
very cheerful advices as to the outlook
in most parts of the country. In man
ufacturing lines production appears to
be at maximum, and the price situ-
alton retains most of its old strength.
Notable in the matter of added strength
are most OF the cereals and iron and
steel in many forms.
The impetus given to wheat prices
by the Government last week has been
further reinforced by less favorable
crop advices from other countries
notably India, and export business is
reported somewhat improved Advices
as to the corn crop are still as favor
able as ever, some States, notably Kan
sas, reporting phenomenally large
yields Judging from numerous reports,
the scarcity of supplies of iron and
steel is becoming increasingly serious,
supplies Of structural and ship-building
material being reported inadequate at
number of points
There is an appearance of quiet at
Eastern markets, but shared in, how
ever, by Western centers, where sales
are reported large and price advances
numerous. The question of outlook as
to prices seems to be largely trans
ferred to next year. and liberal book
ings are reported for the first quarter
of 1899. with some Southern engage
ments reported running as far ahead as
autumn year from now. A notable
exception to the general strength Of
prices is found in raw cotton, which
has disregarded almost unanimous re-
ports of crop deterioration and lost all
of last weeks advance, owing to the
issuance of a bearish crop estimate,
which, from the present outlook at
least, seems very heavy and at the
least prematurely issued.
The strength of the cotton goods
market is maintained, though advances
are as a small
In WOODEN goods orders for light
weight mems wear goods continue
heavy, and raw wool, though less ac-
tive, is no less firm, and high grades
are particularly we'll held.
The advance in boots and shoes seems
to have been felt but little, and the
slight gain in leather prices imparts q.
very firm tone to hides.
Most staples, asides from those men
toned, are firm and unchanged on the
week
Lumber still reflects actively in build
ing, and advances at Western markets
are again reported.
Current railroad earnings show little
reflection from the falling off in the
grain movement, and make excellent
comparisons with preceding years, and
the like is true of net earnings, men
toned elsewhere.
Wheat Gncluding four shipments for
the week aggregate 4,040 400 bushels,
against 1916, 154 bushels last week
3,9SS,34S bushels in the corresponding
week of 1898, 5,316S S03 bushels in 1897,
2,991 ,693 bushels in 1896 and 1885,
140 bushels in 1895. Since July 1st
this season the exports of wheat ag-
gregate 26, 165,065 bushels, against %
343,076 bushels last year and u ,433 344
bushels in 1S97-9S.
Business failures for the week num-
Der 1T2, as compared with 1916 last
week, 195 in this week a year ago, 221
in 1897, 264 in 1896 and 1872 1895. Busi-
ada number 20. as compared with -
last week 81 in this week a year ago,
Al in 1897, 30 in 1896 and 81 in 1895.
NEW YORK, Aug. 1S-R G.. Dunn
& Co.'S Weekly Review of Trade" will
say tomorrow:
The Cramps have discharged many
hundred hands, and ask Russia to ex-
tend time for completion of two war
ships because they cannot get the steel
The completion of twenty out OF
thirty seven vessels building in the
Delaware is also effected 1t is a curl
Gus experience for this country. but
shows the gigantic expansion of home
demand.
No one can question the fact that
payments throughout the principal
clearinghouse have been in August
500 per cent. larger than in 1897 for
the month thus far, and outside of New
York % per cent No better test of
the volume of business is known, but
there is a growing handicap in the ad-
vance of prices. How long and how
far this advance can go without reac-
ton is the problem which level-headed
business men are studying Evidences
VI CHcSfSQ dI0 IdfS, Uul
it would be childish to hope that at
some point higher prices would not
hinder buying.
In iron the question is of steel billets,
which the great consuming companies
have bought in advance. Other de-
mands not covered by contracts are
mainly for various shapes and sizes
only prescribed in contracts. While
prices have risen 2Jc for Southern pig
iron, SOC for Chicago local coke and
75c for gray forge at Pittsburg, rails
have advanced ST per ton, with work
covered for all this year, and 100000
tons or more taken beyond what can
be delivered until next year.
Other finished products do not change,
although the demand at all points ex-
ceeds present capacity. Copper is
steady at 1919 for lake, with produc-
tion for July 21.330 tons domestic and
7,4S0 tons foreign. Tin is lower at
30%c and lead weakens on the stop
page of the smelter strike.
For WOOL Coates Brothers circular
for August 1st still holds good, al