Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-05-18

r. G. Dun g. Co. g Review Saturday
says: ITO speak truly of business this
week one must free the mind of stocks,
for severe decline in manufacturing
stocks has created an impression that
it has some relation to productive in
dustry, but it has none. There was no
change in the money market worth
mentioning, and the volume of bust
Dess shown by payments through the
principal clearing houses as 7l.5 per
cent larger than in 1892, the year of
greatest prosperity hitherto, which is
more than double the gain anybody
considered possible year ago. The
rise in prices since 1892 accounts for
only an insignificant proportion of the
increase. Part of it is in speculative
operations, but more than half in the
quantity of products exchanged in legi-
innate business. Never before reach
ing a quarter of million tons per
week, the iron manufacture reports
may reach an output of $50, 095 tons
weekly, which, with "a, 455 decrease in
warrant and furnace stocks, indicates
a consumption of 1882 tons daily,
against 37,035 in March, 34,S71 in
February, and SO, 1874 in January. The
average for four months is 1907 tons
daily, against 32, 200 last year.
1T has been a week of speculative
rather than business sensationalism.
Railroad stocks were fairly steady
under the circumstances, with earnings
of United States roads reporting S40,-
116, 748 in April, AZ per cent larger
than last year, and 17.2 per cent
larger than in 1892, and for the first
week in May earnings were SO per
cent larger than in 1898, and IA per
cent larger than in 1892. Eastbound
tonnage from Chicago was slightly
larger than last year, and nearly GO
per cent larger than in 1892. Outside
of government figures prevailing opinion
is that losses Of winter wheat have
been largely made up by resolving and
by gains in spring wheat regions, and the
cotton acreage is about as likely to run
beyond estimates as it was year ago."
Bradstreet's says in its issue of. Sat
urday: Reports as to trade conditions
are generally of favorable tenor.
notable among these being advanced
quotations for many grades of iron and
steel, increased activity in building
lines, reflected in heavy sales of lumber
at prices tending upward; firmer
tone in the cotton goods market, SYM
pathized in by the raw product; bank
clearings surprising all records for
this week of the year, railroad earnings
maintaining recent gains, and bust
ness failures, as for some time past,
down to the minimum. Offsotting these
seasonable quoting down of wholesale
dry goods and clothing. Distributive
trade 40 the West still makes good
comparison with year ago, and fall
orders are of an encouraging volume.
Chicago reports the combination of
farm implement manufacturers as adj
vanoing prices Is to 90 per cent. Pig
iron is up at that market, and furnace
men arc receiving inquiries as to pos
sible deliveries as far ahead as July of
next year.
SAT Eastern markets the strength
of iron and steel and of lumber are
features calling for note. Boston re-
ports $4,000 bales of Australian wool
sold for re-export in the past six
weeks, and LOCO, 600 pounds of domestic
woods similarly taken. Wheat, includ-
ing flour, shipments for the week ag-
gregate 3,2S4, 1S2 bushels, against g.
4Si,0S1 last week, 3,6i6, 543 bushels in
tho corresponding week of 1893, 2, 1873,
s75 bushels in 1897, 1.903, 225 bushels
in 1896 and 1887, 5l3 bushels in 1895.
Since July LIST, this season, the exports
of wheat aggregate 203, 05S, SdS bushels,
against 202, 523, 013 bushels last year.
Corn exports for the week aggregate
2,TGS, G9i bushels, against 2,SI7, 290
bushels last week, GOT, 2T0 bushels in
this week year ago, 3.096, S34 bushels
in 1897, LEGS, 5S1 bushels in 1896 and
1,2l0. 1928 bushels in 1895. Since July
LIST, this season corn exports aggregate
bushels during the same period year
ago."