The evening times., 1899-09-23
DUN'S WEEKLY REVIEW.
The Movement of the Market in Gen
eraI Discussed.

The Movement of the Market in Gem
eraI Discussed.
NEW YORK, Sept. 23.-Dun's review
today says: "The reaction in the
stock market is not a sign of anything out
side that market, but has set many to look
for signs Of a reaction elsewhere. Such
signs have been hard to find 1t has been
for months wonder that the demand for
products was sustained at rates exceeding
past consumption in any year. notwith-
standing the general rise in prices But
the demand does not appear to abate. and
the rise in prices continues. A partial ex-
planation is that scarcely any class of pro-
ducts directly consumed by individuals has
advanced as much as the wages and en-
ployment of labor. With more hands at
work. more hours, and at 10 to Is per cent
higher wages, the gain in purchasing power
has been quite beyond the rise Of per cent
IN boots and shoes this year, or per cent
In leather, % per cent in woolen goods.
or 1913 per cent in wool. and even beyond
the rise CT IL per cent in cotton goods.
mainly due to the rise CT 13 per cent in
Gotten.
Perhaps war possibilities abroad had
stocks, but the great body of street car and
Industrial stocks carried cn loans had much
more. Prices fell sl.61 per share for rail-
way stocks in part due TO the three trac-
tlcn stocks included, but recovered 81 Sc.
wntie industrials averaged a fall OF $2O1
and recovered only $1.26 per share Rail-
read earnings were cheering in the first
nail OF September 10.1 per cent larger than
last year. Wheat exports fall a little be-
low last years Prices novel lite either
way until Friday, when a sharp advance
made the weeks gain / IA
When men pay So to s. per ton more
than the latest quoted price for iron
products in order to get early deliveries,
IL is because delay Is threatened on works
or railroads or bridges, vessels or ma
chinery, promising a net profit MANY
Zines the cost of small fraction of the
material. Bessemer and anthracite pig
are unchanged, grey forge at Pittsburg
ana chicago, and Southern iron are, higher.
bars 81 per ton higher and plates So per
ton. and rails 81 per ton. Most of the
business is for next year, with premiums
paid for more speedy delivery Negotia-
tions for consolidation of Fall River cot
ton mills have developed contest between
those favoring local or non-local manage
ment. with a new selling arrangement an
nounced for other plain goods. as well as
Tor print cloths. Prices of prints have
been cut one-fourth cent for indigo blues.
but otherwise the demand is strong.
The volume Of business continues be-
yond all precedent exchanges for the week
exceeding last years by 4L5 per cent, and
those of 1892 by 627 per cent While ex-
ports from New York in two weeks have
been TO per cent less than last year and
imports here "a percent greater, the ex-
rfc :. ctil
600. Money has been in fair supply since
the reaction. Failures for the week have
been 154 in the United States against la
last year, and Is in Canada, against I6 last
year.
Bradstreet's tomorrow will say: ''Satis-
factory trade and price conditions an
parently will reign. So few, in fact. are
the reports of poor trade that favorable
reports may be said to be almost unani
nous. An expanded volume of fall trade
is indicated by the aggregate of bank
clearings for the week. though reports
from some markets point to the greatest
rush being over. Prices, as a rule, main
tain all their former strength, decreases
being few and relatively unimportant In
several lines, notably the cereals, cotton.
petroleum. iron, and steel, the tendency
has been toward higher levels. Cotton
has been notably strong and active Short
crop estimates are becoming more gen.
orally current and bearish estimates of
maximum yislds have been practically dis
carded. more especially as it is claimed
that agents of English spinners are heavy
buyers at the South and domestic manu-
featuring conditions are known to be in
a higher degree favorable. Middling up
lands are now IA cents higher than
year ago at this date. when, it may be
recalled, low record prices were reached
Steady demand for export and confidence in
all of this years wheat crop being needed
have proved stimulating in the face of
heavy receipts and admittedly large pres
ent supplies. Possibility of war in the
Transvaal, too, has been an additionally
strengthening feature. Demand and sup
ply are apparently at the bottom of the
rise in petroleum, which continues to move
steadily upward. Iron and steel are higher
on moderate volume of new business and
steady placing of new orders. The scarcity
Of beef cattle is reflected in still higher
prices, and strength is shown in domestic
hides. No signs Of abatement in the sugar
war are to be seen. Other groceries, how
ever, are firm. Business failures for the
week number 147, as compared with 149
last week. 1S2 in this week year ago,
237 in 1897, 321 in 1896, and 19S in 1885,