The star. (Reynoldsville, Pa.) 1892-1946, 1899-09-27
REVIEW OF TRADE.
The Increased Purchasing Power Is Greater
Than The Advanc, in Prices Of
Commndltes.
Comm odltIes.

II. G.. Dun Go. 3 weekly review OF trade
reports as follows for last week: The re-
action In the stock market Is not sign OF
anything outside that market. but has set
many to look for signs elsewhere. Such
signs have been hard to find. Ii has been
for months wonder that the demand for
products was sustained at rates exceeding
pust consumption In any year, notwithstand-
ing the general rise In prices. But the de-
m1nd does not appear to abate, and the
rise In prices continues.
A partial explanation l. that scarcely any
class OF products directly consumed by indi-
viduals has advanced as much as tho wages
and employment OF labor. With lore hands
ut work, more hours, and at 10 to is per
cent. higher wages, the gain in purchas-
Ing power has been quite beyond the rise of
u per cent in boots and shoes this year, or 8
per cent in leather, So per cent in wooden
goods, or 1919 Ier cent in wool, and even
beyond the rise OF IL per cent in cotton
goods, mainly due to the rise OF l3 per cent
In cotton. But products used In Inanufact-
uring and Transporting have advanced much
more, because OF the enormous increase
In the volume OF business done and In
anticipated business for the future. Higher
prices cause shrinking demand, other things
being equal, but this year other things are
not equal.
Wheat exports fall little below last
years, but In three weeks, -four included,
have been 8,656,S71 bushels from the At
lantic ports, against 9.293, 1881 last year, and
l,O2l 29S from Pacific ports. against 9J7. 7.56l
last year. But western receipts have boon
2l, ,157, s52 bushels against 23,029,579 last
year. and sven more impressive are the re-
ceipts of 1S, 81, ,932 bushels OF corn, against
11,l77,iS3 last year. and the exports OF o.
2ul ,i2i bushels, against 3, ,943,9j6 last year.
Prices moved either way until Friday, when
sharp advance made the weeks gain 10.
Further governmen reports have bsen so
far credited abroad that cotton has risen
G.G2c, but 1t comes forward more freely than
In years of maximum crops.
When men pay - to 80 per ton more than
the latest quoted prices for iron products In
order TO get early deliveries II Is becauss do
lny Is threatened on works or railroads or
bridges, vessels or machinery, promising
net profit many times the cost OF a small
fraction Of the material. In such circum-
stances, as In much Of the reconstruction
and expansion now going on, the present
cost counts for little compared with the
earning power OF the finished product In a
time like this Bessemer and anthracite pig
are unchanged, gray forge Mt PittsDurg and
Chicago and southern iron are higher, bars
" per ton higher and plates S3 per ton, and
rails 81 per ton. Most OF the business Is for
next year with p;emiums paid for speedy de-
liverv
Negotiations for tho consolidation OF the
Fail River cotton mills have developed q
contest between those favoring a local or
non-local management, with "a new selling
arrangements announced for other plain
goods, as well as for cloths. The American
Woolen Company has announced that the
whole production OF all its worsted mills
have been sold, which may give unexpected
opportunities for other mills. Its contracts
for great quantity OF new machinery indi-
cate belief that within its field the demand
for goods will much exceed the capacity Of
its works.
Failures for the week have been l54 in the
United States, against l73 last year, and IS
In. Canada, against 10 last year.