The San Francisco call., 1899-07-15
p11Ns REVIEW OF TRADE.

NEW YORK, July AR G. Dun & Co.'S
weekly review of trade will say tomorrow;
Because every prospect pleases 1t Is the right
time to watch most closely for signs OF trouble
But It is not easy to find them when the vol
ume Of business is 63.7 per cent larger than last
year and 75.5 larger than in 1882. the pest OF
all years except the last or when faiIures con-
tinue the smallest ever known or when the
exports of staples begin to improve materlany,
or when railroad business Is by far the pest
ever known or when New York bankers ap-
pear in international operations, hstenlhg 10
a Russian inquiry and undertaking Mexican
loan. Even then the industrial disputes mel
dent to the season cause less trouble than
usual the largest of them having been settled
Thursday by the tin plate company the BANK
of England finds it difficult to borrow more
from this side and frankly raises its rate, while
this country begins to ship fresh crops ior
which Europe will run into debt
Iron production in the first week OF July was
263 1863 tons, for the past two weeks less De-
cause a strike on July closed seven Shenango
furnaces producing 200 tons daily, though it
is expected end to-day, and several otner
furnaces have begun producing this month.
The increase of s36i tons weekly in June, with
a decrease of $1,000 tons in unsold stocks
not of the great steel companies, implies a pro
duction of about LIPS, $50 tons in June. Con-
sumption would be 1.209, $50 tons, and in the
half year 6S44, 215, but for the fact that steel
makers have stocked heavily against orders
running through most of the year, drawing
from outside supplies so that consumption
are climbing, but only for the trif1ing surplus
not covered by contracts, 50 that quotations
I
actual business. 1t is of more Importance that
new orders, though many, seem no longer equal
to the weekly output except in a rev praIches
while furnaces and other works practically
| abandoned for many years are being started
| again. o,,
Copper is a shade weaker at 1SAc for lake
| Government reporting the output IN 1888 as
526. 375, 391 pounds.
Tin is strong with London speculation at
! s2S 25 and lead is advanced by the smelter
company to 81 55 The largest shipments Of
| boots and shoes in any year for the season
1873, ,0S0 cases in two weeks. greater by IA per per
| and 2s per cent than in 1892. result from very
! extensive pressure TO anticipate orders for Au-
gust September distribution FAR exceeding
expectations. Hemlock sole leather sells
| largely but some kinds slowly, with slightly
| yielding prices
Though cotton is steady in spite Of Texas
| floods at 6.19c, and the general demand 1or
cotton goods is full and sustains prices, re-
ducton of nc in some fancy prints Is reported
Larger distribution is expected this month and
the export demand increases.
In wool great speculation Is In progress
sales in two weeks reaching 22,26 100 pounds
against "a, 81, 500 in 1898. when buying was TO
anticipate new duties 1t is worth noticing that
no purchases by manufacturers are mentioned
calculation that 1.-THE manufacturers must buy
at any price asked. Western frenzies sometimes
make Eastern markets, but as rule con-
sumers make prices in the end.
wheat reports are the recorded receipts at
! Western points. S.oSS 116 bushels in two weeks,
| against 1,471. 7S9 last year. It is not strange
| that prices have declined 1lsc and exports,
thus far T. ,914 bushels against 1858, 3l2 last
year and from Pacific ports LILO. 4S5. against
COL. 100 last year. besides ,5s5 this year from
! other ports.
| United States, against 215 last year. and "a in
| Canada, against 23 last year.