The record-union., 1899-09-02
With Heavy Business Booked for
the Balance of the Year,
The Mercantile Community Faces the Stu
alton With Utmost Confidence.
Prices Are Generally Firm, Except
for Cereals, Quotations in
Number of Lines Showing
Marked Advances, Particularly
So in Iron Products.

So in Iron Products.
NEW YORK, Sept. 1.-Bradstreet's
tomorrow will say:
With an exceptionally heavy business
already booked for the latter portion
of the year, the mercantile community
faces the situation with confidence, tes-
titled to by generally firm prices, and
with quotations in a number of lines
showing further marked advances. The
most conspicuous exception to this is
found in cereals, which are weak and
declining. Lower prices for wheat.
corn and oats point to speculative hqui-
dation of tired holders, whose con-
hdence in the future Of prices have
weakened under unsatisfactory foreign
demand, large receipts and the near
approach of expected heavy crop move
ments. Corn crop prospects, though
less rosy, still point to a full yield.
Cotton, too, has weakened slightly
chiefly because of advices of rain at
the South, though Texas crop advices
are still unsatisfactory and stories of
permanent damage are forthcoming.
With these exceptions, most staples
are either firmly held or evince decid-
ed progress upward, notably in this
latter respect being iron and steel of
all kinds, but particularly pig iron,
which is now the center of trade in
terest, owing to heavy demand par
ticularly for foundry grades at ad-
vancing prices. Trade reports would
seem TO indicate that a good part of
the productive capacity of the country
is already engaged for the first half
of 1900.
Sympathetic strength is evinced by
other classes of material, among the
materials advancing this week being
bar iron at nearly all markets, steel
billots, roned iron and steel, tin plates
and nails
From the manufactured textile trade
exceptionally good reports come. Aug
ust witnessed a general gain in the
prices of cotton and woolen goods, ev-
identity the outcome of an active de-
mand, judging from reports from lead
ing cities.
Scarcity of material and backward
deliveries of the same are reported by
clothing manufacturers at many points
North, West and South. Among other
textiles strength is especially notable
in hemp, and sympathy with London,
whence come reports that Philippine
shipments will shortly cease.
Lumber retains all of its old activity,
and in some lines manifests new
strength as regards prices.
The refined sugar war apparently
still continues, one result being the
increase of consumption to a notable
extent.
A good business is doing in tobacco
at most markets, especial activity be-
ing reported from centers in Florida,
whence it is reported that the Cuban
crop viii be a very large one.
In industrial lines the situation is
reported very satisfactory. Employ
ment is general. and strikes and labor
troubles generally are conspicuous by
their absence.
Business failures for the week are
the smallest reported for a long time,
numbering only 131, as compared with
154 last week, 164 in this week a year
ago, 1913 in 1897 and 336 in 1896. Bus
mess failures in the Dominion of Ca
NADIA for the week number %, as COM
pared with 23 last week and in this
week year ago 81.
Wheat Gncluding lour) shipments for
the week aggregated 3,613413 bushels.
against 3,313,S S25 bushels last week and
3,6S7 ,040 bushels in the corresponding
week Of 1898. Since July 1st this
season the exports of wheat aggregate
33, 122, ,337 bushels, against %, 593, ,592
bushels last year, and b, ,S51 ,246 bush
els in 1S97-9S
NEW YORK, Sept. 1.-R. G. Dun &
Co.'S Weekly Review of Trade" will
say tomorrow:
The astonishing feature is the mag
nitude of demand. Notwithstanding
prices which would ordinarily check it.
In products directly consumed by in
dividuals the larger employment and
better wages of the working force give
explanation. Efforts to meet the de-
mand come from more stores, manu-
featuring works and machinery and
facilities for transportation, as if every
mans wages were in part diverted TO
build UP the nations machinery of
manufacturing and distribution. The
occasion promises quick profits the
building is largely for the future, and
it goes on in spite of unusual prices.
The demand exceeds the supply of
Bessemer pig, again raising the price
for that and anthracite TO S22,3O,
Southern foundry to $500 at Pitts
burg, with heavy sales; grey forge to
$40 and Southern at Chicago to 5000,
with local coke at sol. Structural
shapes were advanced 50 per ton a
week ago. cut nails - cents per kee
this week plates 50 per ton, common
bar iron to $1.S7ia at Pittsburg and
tools TO cents. with large Mexican
orders placed for pipe and good orders
for bridges at Chicago. Few works
can promise delivery before December