The star. (Reynoldsville, Pa.) 1892-1946, 1899-01-18
TRADE REVIEW.
Americans Investing Heavily Without Recalling
Their European Loan-Markets Firm
and Business Good.

Americans investing 1enVNy without kecalhnB
Their European Loan-Markets Firm
and BUSINESS Good
r. G. Dun & Co.'S weekly review OF
trade reports for the last week as fol-
lows: Contrary to the French say
ing, the expected has occurred. Rap
Id advance in prices of iron and steel
products have had their immediate
effect, perhaps not to the lasting ben
eft of the industry. for there is the
same reason for doubt as to its per-
manence as in 1895, when shrinkage
OF buying and reaction soon carried
prices lower than before. But there
is now larger demand for many other
products, and, without unwieldy COM
binations, all are doing well. Through
out the country was never in as strong
financial position as even governors
of London banks admit, one stating
that, as London has financed America
heretofore, now, for the first time,
New York Is financing Europe
No evidence Of weakness is seen in
the other branches of industry, nor irp
those upon which the great excess OF
exports most depend. Wheat ard cot
ton still so out largely. Europe Is
buying because 1t has needs, and New
York is lending to Europe nobody
knows how many millions, because
there Is for the present no need to call
from Australia is announced at San
Francisco.
Americans are in the humor to in
vest in their own country, and have
great amount of money to put out
without recalling any of their loans
to Europe. so that the heaviest trans |
actions ever known in the stock ex-
change have occurred during the week
without the evidences of reaction for
which many strong operators haveI
been looking.
In products also the position of the
country grows stronger. Last years
exports of wheat and corn were far
beyond all precedent, but the past
week has seen exports of 4,237 ,686Y
bushels of wheat -four included,
against 32l6,470 bushels last year from
Atlantic ports, and in two weeks o.
4j2.lO9 bushels, against 6,0S6,7SS last
year, besides exports in two weeks
from Pacific ports of 1,524051 bushels
against 2,340,000 last year. Meanwhile
corn exports have been in two weeks
7l99, 3l3 bushels, against 6,091, ,57S BUSH
els last year. 1t is quite impossible I'd
account for such movements on thd
theory that at current prices this
country is underselling the world. and
has great quantities yet to move a
similar prices. There was an advanced
OF lac in wheat during the week, and
lie in corn, but without any indication
that supplies are running short, and
the western receipts of wheat hav,
been in two weeks S.649S99 bushels
against 5,553,25 last year.
Neither Is there evidence OF weak
ness in the great industries. The out
put of pig iron January l was 243.51
tons, against 235,52S December l, show
ing a product about 5000 tons week.
more than has been estimated. with
further decrease of 37,449 tons
stocks unsold during December. Blu
while the Australian order for 1900
tons Is still on the market, with an
other European order for $4,000 ton
plates, the mills are so crowded tha
prices are moving up rapidly. Bes
semer pig iron is only l0c higher
Plttsburg and gray forge 15c, ..bu
plates advanced 10c, angle sc, and Gu
wire nails have been advanced l0c
the combination.
Wool is stifiiy held at the West, a
though at Boston Ohio Xxx is quote
at 26Hc, although much higher
Philadelphia. The wooden industr
has been hampered beyond all exped
tations by the prices demanded I'd
wool with the extraordinary slocks y
lnsold.