The record-union., 1899-08-26
CONDITIONS
OF BUSINESS.
Strength in Prices and Steadiness
of the Demand
Are Still the Salient Features IN the Trade
Situation.
Iron, Steel and Other Metals, Most
Of the Cereals, Leather and Cot
ton Goods Manifest Upward
Tendencies as to Prices-Most
Other Staples Retain Their Old
EirmneSs.


Other Staples Retain Their Old
Firmness.
NEW YORK, Aug. 25.-Bradstreet' $
tomorrow will say:
Strength in prices and steadiness of
| demand are still the salient features of
the trade situation. Iron, steel and
other metals, most of the cereals, leath-
er and cotton goods manifest upward
tendencies as to prices. Other staples,
with the exception of sugar and an
thracite coal, retain all their old firm
| ness Fall demand is expanding at
most markets, particularly good re-
ports being received from the North
west and the section of the corn grow
ing country which this year seems like
ly to be notable for surplus production.
Aggressive strength and firmnesS is
noted in iron and steel. particularly at
Central Western markets. Considera-
tion of next years needs now seems to
be the most prominent feature of the
trade aside from complaints of slow
deliveries on nearby orders. Foremost
| in advancing is structural materials,
which has moved up So per ton, closely
followed by steel billets. with an ad-
vance of SD, and steel rails and near
by grades Of pig iron. with smaller rela-
tive gains Other metals show sympa-
| thetic strength. notable in this respect
being the tin and lead.
Wheat has been quite firm all week,
partly owing to whiting down of
Northwestern estimates. but also due
to steady demand for the cash article
| alike on foreign and domestic account
A sudden cut in prices of refined su-
gar has led to the impression that the
sugar war will be reopened in all it's
fierceness
Additionally strong features in the
general trade situation are the active
demand for lumber at most markets
at steady prices. and the firmnesS in
the higher grades of wool, notwith-
standing less active buying. A support
ing feature in this latter case, however,
is the active demand reported alike for
mems and women's wear wool goods.
Conditions of supply and demand
seem to- be at the bottom of the recent
rise in beef prices. This advance has
attracted increased receipts of grass
fed cattle, and some shading of quota
tions is noted, but Chicago prices have
enly been equaled five times in twenty
two years. There were nearly 10000
600 less beef cattle in the country than
there was seven years ago, and in fact
there are fewer cattle in the country
now than in any year since 1882
Reflection of the smaller supply of
hides and of the active demand for
boots and shoes is found in higher quo
tations for hemlock sole leather at some
markets.
One Of the least satisfactory trades is
that of anthracite coal. in which pro-
duction appears to have outstripped
consumption again. and there is COM
plaint of price cutting
Wheat Gncluding fiour) shipments for
the week aggregate 3,343, ,S25 bushels.
against 100000 bushels last week. and
1868, ,476 bushels in the corresponding
week of 1898 Since July 1st this sea-
son the exports of wheat aggregate 90
sos, S94 bushels against % 5,006, 552 bush
els last year and 26.5S2. 500 bushels in
1S97-9S.
Business failures in the United States
for the week number 175, as against
172 last week and this week a. year
ago; 210 in 1897. 800 in 1896 and fyO
in 1898. Business failures in the Do
minion of Canada for the week number
23, as compared with 20 last week, 27
this week year ago. 80 in 1897, 81 in
1896 and ~ in 1895.
NEW YORK, Aug. PR. G.. Dun &
Co.'S Weekly Review of Trade" to-
morrow will say:
Nothing is more eloquent than the
facts. Actual payments through the
principal clearing houses were 23.0 per
cent. larger than last year. and ST.
per cent larger than in the same week
in 1892. For the month thus far the
daily average of payments is 263 per
cent. larger than last year, and 500
per cent. larger than in 1892 Ton
mage from Chicago in three weeks has
been 80 per cent larger than last year,
and 14.6 per cent. larger than in 1892.
1t will not be suggested by anybody
that such an astonishing increase over
the most prosperous of all past years
except the last was exaggerated Most
people really regarded last years ex-
pansion as something like a freak.
Nor is the difference in amount of pay
ments mainly due to rise in prices for
prices of several kindred articles act
ually range lower on the whole than in
August, 1892
1t is a consumers business also Per-
haps never before have demands for
actual use controlled business and
prices with SO little speculation to an
ticipate higher markets. In fact. the
rise in most articles has gone further
than speculative opinions warrant
Practically all industries are some
months behind the requirements fol'
actual use, and in many much of the
output next year is already sold.
Iron works which supply Pittsburg
are sold up far into 1900, and can do
nothing, though prices much beyond
what they received are paid by those
who must have iron this year. The
enormous demand for more railroads
and more rails and cars, more vessels,
warehouses and buildings to handle
the extraordinary business in progress
cannot be met as quickly as men would
like, and work of all sorts is DELAYED,
from the biggest war vessel to the
smallest factory.
Western receipts of wheat no longer
keep up with the extraordinary move
ment year ago, falling 100000 bush
els behind for the week but in four
weeks have been 15,367 Ala bushels,