The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-02-18
DUN's REPORT.
BUSINESS is Expanding Despite specuIa-
tive Combinations,

tive Combinations,
New York, Feb. 17.-R. G. Dun &
COS weekly review of trade tomorrow
will say:
Beyond question, business is expand
ing and in many branches is larger,
Notwithstanding speculative combina-
tions Which tend to reduce it. The
!! weeks output of pig iron, Feb. 1, was
zSi'639 tons, against 243,516 Jan. ], and
235.52S Dec. 1.
Inc average weekly production thus
indicated was about 1000 tons greater
IL January than in December, and the
unsold stocks were reduced 43,671 tons
IN January, against 81, 449 in December,
so that the apparent consumption in
manufacture was in Jan. l. 110,709 tons,
against 1,O9S,1T6 in December.
The stoppage of several furnaces for
necessary repairs at a time when the
demand is most pressing has caused
some fear of famine, although quite
number of other furnaces have started
since Feb. or are about to start. Pig
iron has advanced: No. l anthracite
$l2.5O at the east Bessemer, $11.50 at
Pittsburg, and Grey Forge to SLIPS,
but the largest consumption ever re
corded in any month is in part due to
the hasty purchases Of products about
to be controlled or advanced in price
by a combination.
There are so many of these in the
iron and steel industry that the present
market does not clearly indicate the
magnitude of the demand, and disap-
pointment in some branches is not i'm
probable. But the rise of 81 in steel
rails with the entire capacity of all
works engaged until after July l, is
not unatural, nor the strength in plates
for which the legitimate demand is be-
yond all precedent, and the same is
true of bars, the quantity required for
cars, railways and agricultural i'm
plement works being enormous.
Cut nails have been advanced without
such reason as wire nails, were last
week, and in pipe the association lifted
prices per cent, with heavy order
from the Indiana gas works.
No fictitious demand has caused the
rise in grain, for the exports continue
so heavy in wheat and corn that the
advance of 81 cents In wheat is album
dainty justified, and the rise of "a cent
in corn seems scarcely enough for the
occasion.
Atlantic exports have been retarded
by the blizzard, but have been 1885, 715
bushels, flour included, against 1,442,-
$40 last year, and for the crop year
thus far, the exports, including fiours,
have been 1856, TAO bushels, against
143, 714,1 last year. When it is re-
membered that the exports of corn are
almost as large as the largest ever
known, there is reason for astonish-
ment at the continued foreign demand.
That it persists in spite of the strong
advance in prices here since Sept. LIST, is
most encouraging. 1t is obviously i'm
possible to judge how far 1t may go.
Nor does the foreign demand for cot
ton abate, though the price has again
been raised three-siKteenthS during the
past week. The exports have decreased
some, but the controlling fact is that a
shrinkage in receipts from
appears to indicate a small
err yield than has hitherto been ex
pected
1t should be remembered that the re-
ceipts have been greatly hiudered 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 and
market some cotton which might other
wise be saved.
The heavy demand for goods helps
to advance prices just now, although
no assurance can be given that the de-
Ginning prices will not presently check
that demand. There is much more in
quiry for wool, and the manufacturers
have a larger demand for heavyweight
goods, but they maintain that they can
not 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
c, 100, 200 pounds, which is about the
weekly consumption, with eastern mills
well employed, but they were partly
on speculative account, and in fine and
medium territory, sales are mentioned
at 40 cents cleaned, and in Ohio x X
at % cents and upwards.
The minor metals have been running
weaker, with a reaction In London, al
though the industries have shown no
of demand in this country
and the rise in prices here is largely
due to increased consumption.
Failures for the week have been 17S
in the United States, against 295 last
year, and Is in Canada, against So last
year.