The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1899-01-19
FIEANoING EUROPE
New York IL So Doing--Large Demand
For Products Noted by Dun's
Rpview.

New York, Jan. AR. @. Dun &
Co.'s Weekly Review of Trade, issued
today, said in part:
Contrary to the French saying the unex.
pected has occurred. Rapid advance in prices
Of iron and steel products have had their i'm.
mediate effect perhaps not TO the lasting
benefit Of the industry, for there is the same
reason for doubt as 10 its permanency 90 in
1906, with shrinkage OF buying and reaction
soon carried prices lower than before But
there Is now larger demand for many other
products and without uuwieldly combinations
all are doing we'll
Throughout, the country was never In as
strong financial position, as even governors
of London banks admit, one stating that ~
London has financed America heretofore. now
for the first time New York is fnancin 6
Europe. No evidence of weakness IL seen In
the other, branches OF industry, nor in those
upon which the great exceE' of exports most
depend. Wheat and cotton still go out largely.
Europe is buying because IL has needs and
New York Is lending TO Europe nobody knows
how many millions because there is for the
present no need to call loans. Tho receipt Ui
$500 600 in gold from Australia a announced
at San Francisco.
Americans are in the humor to In
vest their own country, and have a
great amount Of money to put out
without recalling any Of their loans tc
Europe, SO that the heaviest transactions ever
known in the stock exchange have occurred
| during the week without the evidence OF re
| action for which many strong operators hay,
been looking.
In products also the position Of the country
| grows stronger, Last years exports of wheat
| and corn were far beyond oil precedent, bu
| the past week has seen exports OF 4,2376S
| bushels OF wheat, 1our included, against 3,
| 2l 6,d7O last year, from Atlantic ports, and II
two weeks 9452, 100, against 6,0S6,7 ,7S5 last year
| besides exports in two weeks from Paciht
| ports Of l,524Ojl bushels, gainst 2,3iJOV9 las
| year. Meanwhile, corn exports have been IL
two weeks 7,l00,3l3 bushels, against 8,V9l ,T
| last year.
There was an advance OF ~ cents in whea
| during the week and but cent in corn, bu
| without any indication that supplies are run
ming short
| Neither Is there evidence OF weakness II
the great industries. The output OF pigirol
Jan. was 2I3 SIG tons, against .35, ,525 tons Dec
l, showing product about S,OOO tons weekl,
| more than has been estimated with furtho
| decrease OF "a ,44D tons in stocks unsold durin
\ December. But while tho Australia order 70
| $40 tons Is stll on the market with anothe
| European order for 1901 tons plates, tn
| mills are so crowded that prices are movin
up rapidly. Bessemer pgiron Is only 10 cent
higher at Pittsburg and Grey forge ID cents
| but plates advanced 10 CENTS angle cents an
| cut and wire nails have been advanced
| cents by the combination.
Wool Is stidy held at the west, although u
Boston Ohio Xxx is quoted Mt 28IEc, althoug
much higher at Philadelphia. The woolen ~
dustry has been hampered beyond all expect
tions by the prices demanded for wool wit
the extraordinary stocks yet unsold.
Failures for the week have been 8l8 in TIL
United States against $40 last year and "a 1
Canada against 10 last year.