The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-25
DUN's REPORT.
Business Not frightened BY Capitalize
ton of New Companies or Wall Street
Fluctuations.

Fluctuations
New York, March PAR. c. Dun &
Co.'S weekly review of trade tomor-
row will say AhA
Business is not frightened either by
the great capitalization Of new com
panies or by the wild fluctuations IN
Wall street. No matter how much the
stock operations in New York may
count, business elsewhere is large
enough to warrant a wonderful expan-
sion of industries ~
In no considerable branch has pro-
duction diminished but in practical all
has been increasing during the past
week
In iron and steel, little lower price,
for Bessemer pig appears at ,Rittsburg,
but with Grey Forge IS cents higher
there and southern iron at Chicago 50
cents to $1.00 higher. There is no mar
ket for billets, as no works east or west
can furnish them at present but quo
tations range from $25 at Pittsburg to
S27 at Philadelphia. In finished prod
ucts there is the same trouble. Rails
can be bought at 1923 at Pittsburg and
S24 at Chicago, if at all, but small lots
have been sold at $26 at New York
Chicago is taking many contracts for
building in Boston, New York and
Washington amounting to- $4,000 tons
but makers elsewhere are overcrowd-
ed with work. No market can deliver
plates within any reasonable time and
Pittsburg work are sold to July ON
sheets. Plate mills are ala full, and
there is heavy demand at Chicago for
bars with one car makers contract
for 5000 tons, prices steadily growing
stronger.
with the reaction Of London speculaA
ton though copper has declined to II
cents here, and is yet so much above
London that exports have been stopped
for the week
The February output both here and
in other countries is larger than last
years average, although February is
short month. Shipments of boots and
| shoes have been 256, 6S5 cases in three
weeks of March against 2T0, AGO last year,
though less larger than in any other
| year and 20 per cent more than in 1892.
Prices of hides yield a little at Chica-
| go, but leather is being pushed UP
| here for union.
Wool is at the doubling point with
large sales ordered from the interior
| by tired holders and some concessions
| made to secure transactions at Phil
| adelphia and Boston, though quota
| tons show only moderate decline and
! sales at the three chief markets are
almost as large as in 1892.
Manufacturers make many inquiries,
but the prospect Of combinations is
| potent to hinder transactions.
The demand for cotton goods is still
| strong, but this week has not mater
tally advanced prices. Cotton is de-
ciGedly weaker, though many believe
that short supplies viii in time in
sure higher prices, but min and COM
mercial stocks are about 100000 bales
| larger than last year abroad and mill
stocks here must be heavier because
the mills are buying very little, al
though crowded with work. while the
commercial stocks here are quite large.
The wheat market is just now some
what stronger, for although western re-
cetpts for the week are 1853 900 bushels
against 2557, 666 last year, and for three
weeks 100000 larger. the exports -four
included, have been for the week from
Atlantic ports 2920,476 bushels against
| J, o24,5b9 last Yeac and from Pacific
ports S241S3 against 1871, S26 last year
other exports being $50 920 bushels. 1t
is not possible to ignore the importance
of so great a demand extending be-
yond the middle of March. and sober
traders realize that it means heavier
outgo than has. yet been expected.
Western crop estimates are large and
such reports as appear of the condition
: of wheat for the coming year are on
the whole favorable, but prices are 3ss
= cents higher than last week, while corn
is "a cents higher.
The market for cotton has been decid-
eddy weak. owing to somewhat better
z receipts at the south, ard also to con-
viction that stocks on hand are large
| enough to meet all demands.
: The swarm of new combinations
really produces less influence than
: might have been expected. Most people
are aware that, inspite of all assertions.
; none Of them has an actual monopoly
of anything. and all have to sustain
: themselves against important competi-
ton. The multitude of them now being
: offered to subscribers tends at present
| to weaken all proposals, and very many
: corporations have been formed on paper
which have not yet been completed in
cash receipts or payments, 1t is an open
question, and for months or wears To
come must be, how far these great ag-
gregations of capital can surpass in
economy and wisdom concerns conduct
ed by individual owners. ~
| Failures for the week have been 200
in the United States against 251 hast
year, and "A in Canada against q last
year.