The star. (Reynoldsville, Pa.) 1892-1946, 1899-05-24
REVIEW OF TRADE.
Heavy Demand Increases the Price OF Bessemer
at Pitsburg-Lsrge speeulasions
in Wool.

Dun & Co.'S weekly review of trade
reports as follows for last week:
While buying 900 tons bessemer pig
at Pittsburg gave reason for the ad-
vance in price to SIG 30. with gray
forge quoted at SIS per ton, II is not
quite as clear as IL might be that the
output. which was 1854 tons weekly.
according to the Pittsburg record, and
has since been largely increased by the
addition of many furnaces, will con-
tinue to fall below the demand.
For the requirements in various de-
partmcnts for manufactured products.
IL must be recognized are scarcely
measurable, and do not seem as much
diminished as might be expected by
higher prices and long delay In de-
livery. In plates. for instance, the de-
mand covers many thousand tons for
bridges at Chicago and at Pittsburg.
and one Philadelphia concern accepted
1000 tons and afterwards was obliged
TO refuse more, one other concern In
the same city refusing over $4,000 tons.
The shipments Of boots and shoes
from the East have been for two
weeks of May % per cent larger than
last year, and 500 per cent larger than
In 1892. Higher prices, which have
been asked for several month"; are
now more generally paid for 7 J
by earlier orders for four month";
ahead or more.
Spectators are doing a large busi-
ness In wool, some foreign and some
American. They have bought about
100000 pounds Australian wool in
bond here, as Is now reported, and
about 100000 pounds domestic terri
tory wool is also said to have been sold
for export at about AZ cents clear.
But this does not cast much light on
the question whether speculative sales
abroad have yet been covered. or Will
be within short time, nor Is there any
indication that the market here will
respond to the temporary foreign de-
mand. The orders for wooden goods
are decidedly better, and although the
woolen association Is not yet In opera
tion, 1t seems o have given a certain
kind of confidence to prices in the
woolen goods department.
Cotton declined a small fraction on
Monday. owing to freer port move
ment, which made 1t probable that at
the end of this week the amount in
sight would about equal last years
record-breakirg figures. But there
was recovery of all the decline in
middling uplands, and a net gain in
option prices,
May wheat has been rising during
the past week about cents. and no.
body can tell why. although the ex-
ports in the past two weeks have
been l0,569.006 bushels. flour included,
against Sl35,12i bushels last year.
Better shipments were expected after
the opening OF navigation. and there Is
really no use in considering the dreams
OF western speculators and crop re-
ports at this time. No one can form a
fair Judgment at the middle OF May
regarding the output which will be Wis
ible to everybody in the middle OF July.
The best that can be done Is to accept
the crop reports, official and other
the opening of navigation. and are In
with almost indefinite allowances.
Better shipments are expected after
fact coming, the outward movement
from Duluth alone In two weeks
reaching nearly 100000 bushels Lack
of rain In California has caused q large
reduction In all estimates for that
state. and Pacific exports are de-
creasing. as holders are less ready to
accept current prices with the PROS
pect of shortage.
Failures for the week have been lat
| in the United States.