Barre evening telegram. (Barre, Vt.) 1898-19??, 1899-08-05

SCARCITY IN BESSEMER IRON
Summary of What Has Been Done
This Week In the Money, Met
al, Boots and Shoes and
Grain Markets.

New York, Aug. 5.--R. G. Dun & Co. $
weekly review of trade says:
July failures have been smaller than in
any other month of which there is record
excepting May, and trading failures
smaller than in any other month. Sur
prising contrasts are shown by compaI l.
son of small with large failures in differ
ent years, and in no class of business,
without some large failures not attribut-
able to present influences. does the aggrc-
gate equal the average of the past six
years.
London again recognizes the financial
power of this country. The Bank of
England virtually admits that it cannot
draw from New York the gold it needs;
exchange moves to the importing point
over $1,0OO,0OO starts from Sydney to
San Francisco; London's net buying of
stocks has Ecen 10000 shares. and bills
against produce to i" shipped are very
heavy. When it is known that over
100000 worth of the stocks of four
leading American railroads were sent
here by London during the past IS
months the foreign buying may prove
important Heavy shipments come from
Alaska, and official reports show that
the United States mines produce over
$G5,000,00O yearly.
Scarcity of hpSscmcr pig has caused
two steel works at pttsburg to stop Il
day or two. and %.1 - to $21.15 has
been paid for 10000 tons, with $11.75
for gray forge and II rise of 80 cents in
local coke ut Chicago. Ii is no longer Il
question whether cnouGh can be had aft
er awhile. The trouble is about early
supplies. Orders fer plates and struc-
tulal work are refused at most points.
mills having work far ahead, and for
sheets also at Philadelphia, though new
and large mills make things easier in
plates at Iittsburg.
Bar iron In Demand.
Bar iron is in great demand instead of
steel, being 50 to 81 cheaper, and new
eastern mills get all the business they
want. The magnitude of the demand, in
spite of high prices, is everywhere sur
prise
Once more Connollsviic cclpSos itself
with only $50 ovens idle and lD1 OH
tons coke produced for the week. the
Frick shipments in July reaching ;},,O1l
cars. Tin was raised by London to the
breaking point. 33 ccnt> here. beim~ fol-
loWeu ny o1t2, out copper was nlN at
1872 for Lake, though the London visible
supply reached 33,O2O Ions, The largest
since 1897 Lead was quiet at 400 cents.
Orders for boots and hoes are not so
large as they have been and yet are nll-
merous enough to make good aggre-
gate, but fall short of production in many
lines and of shipments which are pushed
to the maximum by undated demands
for early delivery. While many of the
works are refusing orders, having enough
for months to come, others are actively
seeking business, but shipments to date
this year have been 114.000 cases greater
than last year and 117,000 cases greater
than in 1895.
Wheat weakens, yielding l cent, with
the astonishing receipts at the west of
4,134 1868 bushels for the week against
3,100,543 last year, and 2353S, $50 bush
els since June against 10.JOS,S1G last
year. Such shipments make crop esti
mates obsolete and render accounts of
storms in northwestern ICES impotont,
Failures for the week h..ee been ~ in
the United States against 1876 last year,
and % in Canada against p last year,