The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-10-28
THE CONDITION OF TRADE
Balance Due the United States Is
Growing Larger.
IMMENSE RAIL DEMAND
Two Thirds OF the Worlds Capacity AL
ready Spoken Fora Big Jump
in Prices-A Reaction Among
the Minor Metals.

New York, Oct Pr. G. Dun &
Co. will say tomorrow: Fears and
not facts made war in South Africa
seem menace to property here, and
week of conflict has cleared away the
fear. British markets for securities
have been helped by the belief that
mining shares would be worth more
with no Boer control in mining regions.
Large purchases here of ammunition
and meats have swelled the balance
due this country. Money markets
have grown less embarrassing, stocks
have gradually advanced. industrials
are still supported by a volume of de-
mand for which no precedent can be
found, and payments Through the prin-
cpal clearing houses for the past
week have been 1856 per cent. larger
! than last year and 57.3 per cent. larg-
err than in 1892. So great an increase
| shows the net business of many po-
tent forces making for public pros
| perity.
The heaviest transactions in steel
rails ever made SO early cover 1,500,
| 900 tons for next years delivery, or
two-thirds of the entire capacity of the
world. The Pennsylvania is said to
have taken 10000 tons at s3S, but all
the leading railroads made large pur-
| chaseS and the price was then adyanc-
| ed to S35 per ton, the same works hav
ing. delivered during the past year
at SIS to S19 Great contracts for ma
| terial follow, one concern having
bought 100000 tons of Bessemer pig at
| Pittsburg for $23. while $24o0 is paid
| for early delivery, and $4,000 tons of
| billets were sold to one concern there
and 10000 at Wheeling, $3.50 being
| quoted, with slabs at $3.50 and sheet
bars at $50. Such transactions only
show the general belief that such
prices will run far into next year. For
| structural work many orders appear,
| including some of CONSEQUENCE for the
| East and for Cuba and in bars, the
car and implement demand makes the
! Chicago market very strong, but at
| Pittsburg works anxiety for future
contracts has depressed the price to
$215. and in plates some works have
nearly caught up with contracts and
are accepting s2.75. Sheets are also
weaker, s3.o5 being quoted at Pitts
| burg as the proposed combination
seems to have failed.
| Markets for minor metals are react
| ing, tin having fallen to $30.62, with
a recovery to $500 on Dutch sales in
and lake copper is largely offered at
| $173Tk. Lead is a shade lower, at
s4571s, and spelter is demoralized and
offered at IS. Coke holds strong,
shortness of cars hindering deliveries,
though more ovens than ever before
are producing.
Wheat remains practically unchang-
ed, while the Atlantic exports. -four
| included, have been 12,932,S12 bushels
in four weeks against 13,4s3,056 last
year; Pacific exports 2,197771 against
1924, 306 bushels last year. Western re-
celpts fell short and in four weeks
have been only 30,022,053 bushels
against 40,150,699 last year. Without
concert there is probably some wait
ing for better prices by farmers.
Failures for the week have been 100
in the United States against 226 last
year and 90 in Canada against "a last
| year.