The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-06-10
Dun's Review.

New York, June 9.--R. G. Dun & Coz
weekly review of trade will say: Iron
products have advanced S.S per cent in one
week and pig iron AS per cent, following
advances of per cent in pig and 4 per
cent in products during May. Cotton has
advanced / per cent and cotton goods Is
per cent during the week, with wooden
goods per cent, and boots and shoes 1
per cent. A little reaction of 6 per cent
appears in leather and per cent in hides,
but the characteristic of the time is that
expectations of higher prices induce buy
ms FAR in advance of requirements for
consumption. 1t is needless to say that
this is a symptom of danger and the
most conservative manufacturers, espe-
claly in iron and steel, have striven to
avoid it, but actual inability to deliver
products demanded leaves them little
power, while speculation in woul and
other lines is running away from con-
sumption. 1t is a saving feature that
quotations are largely fictitious. almost
all the goods now being delivered or pro-
duced in some industries are on prices
fixed by orders accepted several months
ago, and nearly all the iron works be-
ing thus tied up far ahead, the prices
quoted indicate not at all what they are
getting, but what they see fit to ask as
a way of refusing orders which they
S~SSPN'
quotations have risen for anthracite No.
l to $3.50, for Bessemer to $3.50 at Pitts
burg; for gray forge, $16.25; for billets,
with practically no sales, to $31; for bars,
2 per cent per ton, for plates and sheets,
as much for rails to S26, for structural
beams and angles, S. per ton, and for
wire nails, 25c per key. But there are no
accounts of large transactions at those or
any other prices, though small sales of
nj v ocf Jt,3,
for Bremen at market price, with Ger
man offers for 10000 tons southern pig,
indicate the needs abroad are quite as
great as they are here.
While there is a better demand for
wooden goods, so that prices of some have
advanced, it is not yet possible to dis
tinguish heavy speculative operations in
wool at Boston from efforts of mills to
buy. The prices current in all wool
growing sections are so high as to pre-
yent sales in Eastern markets to consum-
ers, and the readers who believe the mills
will presently be forced to pay higher
prices, are taking the same risk they did
in the winter of 1897, not realizing the
size of the stock held. The cotton mar
ket has advanced 1 1-16 cents without
other reason than the good demand, but
stocks of cotton here and abroad are
heavy and the Financial Chronicle esti.
1ililtS d uetIedSt VI only 81 per cent If
acreage Goods are selling largely anG
prices Of ginghams and prints have ad.
vanced.
After some advance wheat suddenly de.
clined two cents, closing lower for the
week. Against all accounts of injury is
the solid fact that Western receipts were
5,04S,194 bushels for the week, against l.,
47,o45 bushels from the great crop of las
year, and at current low prices such re
ceipts would be inexplcable if grower:
really expect a short yield. Exports hav.
declined, being only 1.S45,373 bushels, flou
Included, from Atlantic ports. against 4,
2e7,294 bushels last year, and 623, 400 bush
els from Pacific ports. against 253,2 13 bush
els last year, but even as to future for
eign demand this is not strong evidence
The estimates of reduction in yield ar
weakened on the marked judgment by thu
certainty that spring wheat acreage il
unknown and may exceed expectation
and that the prospect is excellent.
For the current week failures hav
been 159 in the United States, against 20
last year, and 10 in Canada, against l
last year,