The record-union., 1899-05-27


stin, as for a long time past, largely
outnumber those of an opposite char
acter Wholesale distribution is nat
urally less active as the season ad-
vances, but comparisons with last year
are still very satisfactory, Much is
hoped for from better weather condi-
tions, stimulating retail trade hitherto
| held in check by the backward spring
season Industrial activity is widespread
and the prices of most staples are
either very firm or tending upward, ex-
cept in the cases of products affected
| by weather conditions.
That often relied upon barometer of
| general business conditions, the iron
and steel trade, reports increasing
rather than lessening activity notwith-
standing the approach of warm wealth
er- In some lines, in fact, the situation
is becoming rather excited. The pres
sure of consumptive demand really
seems likely to either do away with en-
tirely or shorten very appreciably the
summer shut down people.
Features in this trade are very heavy
buying by prominent interests in the
central West, advances in prices of all
grades Of pig iron and many varieties
!
dictions of still higher prices to come,
coupled with denials by leading inter
ests of the corner in the market for
crude pig.
Indications are that the volume of
business now being done or offered is
far in advance of all previous records.
Export trade lis feeling the check, due
not entirely to advanced prices, how
! ever bIt a apt11a1 in I,jIitx, +ol>o 100,
| business at any price
! The market for manufactures of cot
ton is a good second to that of iron and
steel, strength being a feature in nearly
all the branches, and a number of ad-
vances being registered for the week.
The raw product, however, reflects lit
tie of this strength, though the ad-
vance in finished products may be
taken to have offset slightly improved
| crop conditions, a result of needed
rains.
Wool is rather less active so far as
new business is concerned. but reflects
recent heavy speculative buying and
relative higher prices at interior points
than at the seaboard in firm quotations.
! The demand for lumber and building
materials generally continues unabated.
and there is talk of brick manufacture
| ers following examples set by other
trades and combining to regulate the
output
Boots and shoes hold recent advances
and hides and leather are firm in sym-
pathy.
| The trade situation is. however. not
| entirely without its drawbacks. Re-
ports from winter wheat become in
creaslngly favorable, conservatives esti-
mates pointing to 100,000OOO bushels
smaller crop owing to insect damage.
ana near futures are higher on the
week. Export trade in several lines are
smaller than of late, partly owing to
the less urgent demand for our food
supplies and partly on account of the
smaller shipments of manufacturing
goods.
wheat INCLUDING fiour) shipments for
the week aggregate 3,19S,319 bushels.
against 22l2,2O6 bushels last week
4'oVS,lo bushels in the corresponding
week of 1888, 2,OS1, 1926 bushels in 1SY7
Z,O54,9oO bushels in 1896 and 2.42667I
pusnels IN 1898. Since july 1st 4his
season the exports of wheat aggregated
ZUS, 469,3I3 bushels, against 30 Sg6 t,7S
bushels last year.
BUSINESS failures for the week n,n
Der loS, as against 16S last week. 231 in
TINS week year ago, 257 in 1897. 227 in
1oSo ana Ioo In 1893. Business failures
IN Canada number %, as against 1o
last week and in this week wear 400
70 in 1897, % in 1896 and SO in 1So,
NEW YORK, May 26.-R. G. Dun e,
Co. $ Weekly Review of Trade" will
say tomorrow:
There has been some fear that has
no other source than the habit of ear
Men nave found for SO many years dis
aSter treading on the heels of annra-
hension that they lack faith in good
things present and to come E,ye,v
year there is worry about short crops
and yet the crops grow larger. The
spectre of monetary trouble baunts
men who know that the country ;s
strong beyond any need Promotino
methods alarm men who are alraadv
quite aware that it is only needful to
put promoted stocks in a class bv
themselves
But all the time the volume of husi-
ness is rising. This weeks navmants
through the chief clearing houses arc
o2.l per cent. larger than last wear
ana oS.O per cent. larger than in 1892.
For the month thus far the daily aver
age is OIS per cent. larger than last
year, and G6.4 per cent larger than
in 1882. Moreover, this week and
every other brings larger wages to
many and increased purchasing power.
and the demand for products is conse-
quently expanding in all branches of
consumption.
The rise in Bessemer pig iron to
S1I.6o at Pittsburg; 50 in two weeks
in grey forge, to $15.25; in anthracite
No. l here to $16.75, and in local and
Southern iron at Chicago. results di-
rectly from the fact that supplies are
for the time less than the demand
Many more furnaces are in haste to
begin work, some succeeding but 9TH
ers hindered by difficulty of getting
prompt deliveries of needed parts of
machines or prompt supplies of ore and
fuel.
The natural remedy that new orders
now call for less work than was done
in April or March is for the time hid
den by engagement of nearly all con-
Germs for months ahead The largest
and best works are catching up with
their orders, though much behind. and
Obliged to refuse many while others