The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-01-14
Dux.s REVIEW.
Rapid Advances In Iron and steel
New York FiunnctcrinE London.

Rapid Advances In Iron and steel
New York FinnncicrinG London.
New York, January 13.-R. G. Dun
Co.'S Weekly Review of Trade will sa.
tomorrow: Contrary to the French saying
the expected has occurred. Rapid advances
in prices of iron and steel products hay,
had their immediate effect, perhaps NO
to the lasting benefit OF the industry. fo
there is the same reason for doubt as L
its pcrmanence as In 1925, when shrink.
age of buying and reaction soon carried
prices lower than before. But there is nov
larger demand for many other products
and without unwieldy combinations al
are doing well. Throughout the country
was never in as strong financial posi-
tion. as every governor OF London banks
admits, one stating that as London has
financed America heretofore, now for the
first time New York is financing Europe.
No evidence of weakness is seen In the
other branches of industry nor in those
upon which the great excess of exports
most depend. Wheat and cotton still 20
out largely Europe is buying because it
has needs and New York is lending To
Europe nobody knows how many millions
because there Is for the present no need
to call loans. The receipts of $1,000 0o0
gold from Australia Is announced at San
Francisco
Americans are in the humor to In
vest in their own country and have great
amount to put out without recalling any
of their loans in Europe, so that The heav-
lest transactions ever known on the stock
exchange have occurred during the week
without the evidence Of reaction for which
many strong operators have been looking.
In products also the position Of the coun
try grows stronger. Last Years EXPORTS
of wheat and corn were far beyond all
precedent but the past week has seen ex-
ports of 1927 $50 bushels wheat, -four in
cluded. against S,21s470 last year from
Atlantic ports. and in two weeks o. 452. 100
against 6,nS6,1sS last year besides exports
IN two weeks from Pacific ports of '5o4.-
Dol bushels, against $4,000 last wear
Meanwhile corn exports have been in two
weeks ',lsa,S1S bushels. against s.Oe1. b7sl
last year. II Is quite impossible to ac
count for such movements on the theorv
that at current prices this country is IN.
dersellins the world. and has great ouan
tities yet to move at similar prices There
was an advance of il cents In wheat |
during the week and I cent In corn mt
without any indication that supplies are
running short and the Western receipts az
wheat have been in two weeks s.S4o. 500
bus heels against 5,553,250 last year.
Neither 10 there evidence OF weakness A.,
me great industries, The outprt of Mig
IRON January was 243,5l6 tons. against
.SC'o2s December |. showing a product of
about 5000 tons weekly more than has heen
estimated. with further decrease OF ~ 44a
ons In stocks unsold during December
BUT while the Australian order for 40 ooo
s is still on the market. with another
european order for $4,000 tons nlatcs the
Mills are so crowded that prices are novine
ip rapidly. Bessemer pig iron is only ,oe
,igner at Pittsburg and Grey Forge 15c
'ul plates advanced loo and cut wire nails
ave been advanced lOc by the comhina +;
r Minor metals are also stronsar J
mere , have also been large demands sor
Mool Is stifly held at the West rb,s
muusIiy has been hampered beyond al, ex' .
' ',,s by the prices demanded for woc,
',h mo extraordinary stocks vet ,,ns wyS
a. Inc market for cotton goods has bean
a..Y large and at rather better nr,ces zen
, u.o,u WITH the price OF cotton whic,, has
90 go. 10 20 per cent Receipts South az
oto me moment much smaller than har D
snns while there is accumuatinp evs
e en- ,s that the crop gathered late ana ev- b
~ :, uniavorahle conditions of weathar a un 3
- craze as well as was expected. 'oes =