The star. (Reynoldsville, Pa.) 1892-1946, 1899-01-25
REVIEW OF TRADE.
Iron and Steel Industries Refuse Orders--In
creased Exports Good Prices Prevailing.

creased Exports Good Prices Prevailing.
r. G.. Dun * Co.'S weekly review of
trade reports as follows for last week:
A new year rarely opens brilliantly.
Too many traders have to wait for the
demand, which in winter comes slow
ly. The industries resist fairly well
the tendency to unlimited expansion,
which some have to meet. Specula-
tion in products is gaining but little,
while stocks, an enormous volume of
business, results in continually higher
prices. Difficulties between holders
of materials and manufacturers con-
tinue to hinder in some Industries and
In some may prove seriously embar-
RAISING, but the activity is on the
whole unsurpassed hitherto, and the
volume of traffic is beyond all expec
tations.
In some branches consumption is
running beyond the producing capac-
ity, but in others it is hindered by
doubts about the future supplies and
prices of materials.
The woolen manufacture Is still
waiting with only moderate demand
for goods as yet. The production is
large, and considerably larger than in
recent years, but does not nearly ap-
proach the capacity of the mills.
Sales of woods for the past three
weeks at the three centers of the east
pounds; against 22,S22970 pounds last
year, and prices of domestic fleece are
lower, with present demand running
largely to quarter and half blood, and
Australian cross-bred. But there Is
NOT enough change in material or in
demand for goods to encourage heavy
buying by manufacturers as yet.
The cotton manufactures has
large demand for goods, but raw cot
ton has so rapidly advanced that pos
sible buyers apprehend fall. and
there Is hesitation in the purchases of
staples.
The silk manufacturer knowing
many threats of its interference and
disputes about duties seems to be
making steady progress
The iron and steel manufacture
leads all others in the volume of new
business. While production Is much
the largest ever known, many of tho
works are Withdrawing all quotations
or naming prohibitory prices in order
to check orders which they can not
fill for months to come. and do not
want to accept at current prices. The
number of such works Is rapidly in
creaslng as the heavy demand for
materials covers many months capa-
city Besemer pis shade higher at
$40 80 with sales of $4,000 tons at Pitts
burg, and there is something like a
80 %, although one sale at 50 95 In the
valley is reported. While finished
products are in very great demand,
especially for car building and spe-
cial works at the West. the week
shows no advance in prices excepting
20 cents per ton in steel rails at the
East.
These conditions favor continuance
of the extraordinary foreign trade,
which resulted in the greatest ball
ance in favor OF this country ever
known. January this year indicates
similar excess of exports over i'm
ports, and while wheat exports have
increased every month since last Au-
gust they have been in three weeks
l5,01S,071 bushels, flour Included from
both coasts, against 1l,S99,952 bushels
last year Corn exports have been
quite up to last yc~r's unprecedented
record. amounting to $500, ,S99 bushels,
against 9,2I0,1S9 bushels for thrSe
weeks of January last year. although
prices have declined about half q
cent. The contest between speculat-
ors In wheat at the West and at the
East has held prices fairly steady
with an advance of only an eighth for
the week.
Failures for the week have been 249
i'm the United States. against 374 last
year. and 80 in Canada. against 53 last
year.