The star. (Reynoldsville, Pa.) 1892-1946, 1899-04-26
REVIEW OF TRADE.
Mills Cannot Meet the Heavy Demands 10
Bar Iron-Crops n Hindranee to
Stock Speculation.


II. G. Dun & Co.'S weekly review of
trade reports as follows for last week:
Nothing appears In business or in
ance of the heaviest trade ever trans
acted at good profits. The payment
to Spain is supposed to have caused
some rise In foreign exchange, which
would amount to nothing In any case,
as balances due from other countries
more than cover the payment, and adj
vance bills against crops to come for
ward In July and later will soon be Of
fered Loans on Industrial securities
are still at higher rates than on rail-
way stocks, but on good commercial
paper or railroad stocks money Is In
ample supply and at low rates.
Nor have stock operations caused
any appearance of pressure. The n
nancing OF new corporations has
passed thus far with less trouble than
had been feared, though the compile
tion OF some organizations is hindered
or has failed. The usual time for f.
nancial troubles in the spring has
passed and the usual alarm about
crops has done its work. and still in
dustries are undlsturbed.
The one hindrance In stock specula-
tion is the crops, but the better un-
official reports have supported infer
ences warranted by the heavy re-
ceipts from the farms in the West and
South. Farmers do not send wheat or
cotton to market in large quantity
when crops anywhere near them are
extensively spoiled. Wheat receipts
have been 7,5l1.343 bushels against s.
9O6,6i3 last year In three weeks OF
April. and the improvement since
April Is worthy of notice. Exports
have fallen off, amounting from both
coasts to only G,774,774 bushels, flour
included, In three weeks, against TO-
9l9.122 last year. and the price closes
but half a cent higher than last week.
Corn Is about steady in price. with a
decrease in exports natural at this
season.
Almost nothing Is done in pig,
though southern is sold largely at Chi
cago and Pittsburg. Heavy demand
for bars to be used in car and other
works cannot be met at Chicago; plate
mills there and elsewhere are refusing
orders. Contracts for 5000 to 10000
tons structural work at Pittsburg and
some al. Chicago are taken, though
many others are deferred. and sheets
are less active because the works are
generally too crowded. The coke pro-
duction Is still close to the maximum.
London speculation lifted tin to 25h
cents. in spite of 4440 tons arrived
here, and copper Is very strong and
scarce at 12h cents for lake, with 500
tons brought back from Europe.
though the United States production
was only 21,9lS tons in March.
Men who have held wool stifly for
more than year are selling freely at
bottom prices, admittedly the lowest
of the year. Sales at the three chief
markets In two weeks have been 23,-
204. 2S5 pounds. of which 1887 ,5S5 were
domestic. against 1906. 100 pounds in
1892. Territory wool. 100000 pounds,
was sold for export to England and L.
25O.000 Australian In bond. which has
been held here Is months, fine WOOL
being very high there. while cross
bred Is so low that II can now be i'm
ported. With assurance of better
prospects for goods. wooden manu-
facturers are waiting for the effect OF
various combinations. The demand II
not. at present. especially large. and
considerable machinery Is idle Cot
ton has advanced an eighth. but ex-
ports are small. takings of spinners are
small, and the prospects for the next
crop are not based. while stocks are
remarkably large.