The star. (Reynoldsville, Pa.) 1892-1946, 1899-02-01
TRADE REVIEW.


biOWlnb demand increases Price oil rig iron.
Wool Market Cont Weak
Il. G.. Dun's weekly review of trade
reports as follows for last week: The
country Is in n stronger position than
Il week ago. Remarkable strength I'm
its industries is an important but not
the chief element. Public confidence
In the business of the country and in
its securities has been tested to an
unusual extent by the sudden fall in
stocks and the subsequent rise. Con-
fldencc in the value of wheat, corn
and cotton has been shown by the
markets, and at rising prices the
world buys because 1t has to buy. The
vast supply of unemployed capital has
been shown impresslvely, and the new
and startling independence of foreign
money markets fixes attention. The
lumber movement is unusually large
for the season with prices of low
grades sharply advancing. Railroad
earnings and tonnage have shown
surprising gains. Treasury receipts
are gaining, and a vote on the peace
treaty has been fixed for February Q.
The weak points in the situation
may first be considered. Wool grows
weaker because forced by speculation
year ago to prices which the market
for goods could not sustain, and has
been much embarrassed i'm trying to
sustain ever since. Western bankers
begin to advise speculative holders to
sell. Goods are in much greater de-
mand because prices fairly propor-
toned to the reduction of about 10
per cent in wool since year ago have
been made in important openings,
Sales for the week have been 6.403, 400
pounds. and for the four weeks, 3D.
$4,000, against 3042l ,070 last year and
26,5f7.600 two years ago.
Pig iron has risen at Chicago be-
cause of higher freights from the
south. and at Pittsburg a shade for
bessemer and grey forge because OF
growing demand, but for the moment
the rise of 2 per cent in pig Is exceed
ed by the rise Of per cent in pro-
ducts. The pressure for many pro-
ducts Is such that the works are able
TO make their own quotations, and
rails and bars at Pittsburg and wire
nails have slightly advanced. The
demand is heavy in all lines, cover
Ing 10000 tons rails in one contract for
southwestern road and many of
smaller quantity; 10000 tons bars and
many for less quantity covering 81
900 steel cars for the Baltimore &
Ohio. with other ship, car and mis-
cellaneous contracts; numerous bridge
contracts, with one pending for Can
ada and others from all parts of the
world; 10000 tons sheets at Pittsburg.
with heavy business elsewhere and
general demand never surpassed.
Nails are advanced by the combina-
ton, pipe works are crowded and
negotiations in progress for their con-
soldation, as also in bridge building.
Wheat has risen cents, with much
buying based on extraordinary ex-
ports from Atlantic ports for the
week: -four included, 3.S13,301 bushels,
against 2,97l, 1888 last year; from Pac-
itic ports 321.255. against 1.1s0,272 last
week. and from other ports 462.454.
In four weeks the exports from both
coasts have been 19,675,0S7 bushels,
against 16,71S,926 last year. Corn has
advanced cents, although exports
have been 1l,5l3,36 bushels. against
13O61, All last year. and the surprising
continuance of demand. equaling last
year. seems to be forgotten. But Of
fetal trade returns show that this
one feature counts for millions In the
years excess of merchandise exports.
Failures for the week have been 224
In the United States against 342 last
year. and S3 In Canada against "a last
year