Omaha daily bee., 1899-06-10
DUN'S REVIEW OF BUSINESS
Many Advances Are Recorded, Notably in
Iron and Steel.
INABILITY TO DELIVER ORDERS THE CAUSE
Cotton Market Evinces Great Activity
and Prices Go Up-Another Mate
rial Decrease in Failures
Here and In Canada.

NEW YORK, June 9.-R. G. Dun & Co.'S
Weekly Review of Trade tomorrow will say:
The last week has brought a rise in prices
not equaled in any other week OF many
years. Iron products have advanced per
cent in one week, and pig iron AS per cent,
following advances of per cent in pig
and per cent in products during May.
Cotton has advanced l per cent and cotton
goods is per cent during the week, with
woolen goods IS per cent and boots and
shoes l per cent A little reaction OF 8
per cent in leather and Z per cent in
hides occurred but the characteristic of the
time is that expectation of higher prices
induces buying far in advance of require
ments for consumption. 1t is needless TO
say that this is symptom of danger and
the most conservative manufacturers, espe-
cially in iron and steel, have striven to
avoid 1t, but an inability to deliver products
demanded leaves them little power while
speculation in wool and other lines Is run
ming away from consumption. 1t is a saw
Ing feature that quotations are quite largely
fictitious. Almost all the goods now being
delivered or produced in some industries are
on prices fixed by orders accepted several
months ago and nearly all the iron works
being thus tied up far ahead, the prices
quoted indicate not at all weakening but
what they see At to ask as way OF refusing
orders which they cannot accept, or else the
bids of impatient buyers who can find no.
body ready to deliver large quantities.
During the last week quotations have
risen for anthracite No l TO $3.50; for
Bessemer to $3.50 at Pittsburg; for gray
forge to s16.25; for billets with few sales
to $11; for bars 81 per ton; for plates and
sheets as much, and for wire nails 25 cents
per keg But there are no accounts of
large transactions at these or any other
prices, though small sales OF pig last week
for Italy and this week for Bremen at
market prices with German offers for 10000
tons southern pig indicate that needs abroad
are quite as great as they are here.
While there is better demand for woolen
goods so that prices OF some have ad-
vanced, II is not yet possible TO distinguish
heavy speculative operations in wool at Bos-
ton from efforts OF mills to buy. The prices
current in all wool growing sections are so
high as to prevent sales in eastern markets
TO consumers and traders, believing that
mills will presently be forced to pay higher
prices, are taking the same risk they did in
the winter of 1897, not realizing the size
OF stocks held. The cotton market has ad-
vanced a sixteenth without other reason
than the great demand for goods, but stocks
OF cotton here and abroad are heavy and
the financial Chronicle estimates a decrease
OF only S.2 per cent in acreage. Goods are
selling largely and prices OF ginghams apd
prints have advanced
After some advance wheat suddenly de-
clined cents. closing lower for the week.
Against all accounts OF inquiry is the solid
fact that western receipts were 5,O4s,194
bushels for the week. against l,4770i5 from