Omaha daily bee., 1899-10-28
DUN'S REVIEW OF TRADE
War in South Africa Exerts No Unfavorabe
Effect on Commerce.
HUGE TRANSACTIONS LET IN STEEL RAILS
Immense Orders for Iron Are TN
loaded on MiIis which Are SIN
Far Behind Contracts and
Prices Hold strong.

NEW YORK, Oct. 27.-R. G. Dun G Co s
Weekly Review of Trade tomorrow will say:
Fears and not facts made war I'm
South Africa seem a menace to prosperity
here and week of conflict has cleared
away the fear. British markets for Sc
Curities have been helped by the belief that
mining shares would be worth more with
no Boer control In mining regions and
large purchases here of ammunition.
packed meats and other army food have
swelled the balance due this country.
Money markets have grown less embar-
RAISING, stocks have gradually advanced,
industries are still supported by a volume
of demand for which no precedent can be
found and payments through the principal
clearing houses for the last week have
and 51S per cent larger than in 1892. SO
great an increase shows the net result of
money and potent forces making for pub
lie prosperity.
The heaviest transactions in steel rails
ever made so easily cover 100000 for next
annual capacity of the works. The Penn
sylvania is said to have taken los. 900 tons
at sS3 but all the leading railroads made
large purchases and the price was then ad-
vanced to $S5 per ton, the same works hav-
ing delivered during the last year at SIS to
sl9. Great contracts for material follow,
Bessemer pig at Pittsburg for s23 while
s24.5O is paid for early deliveries and $4,000
tons of bilets were sold to one concern
quoted with slabs at $3.50 and sheet bars
at 1886. Such transactions only show the
general belief that high prices will run far
into next year. For structural work many
orders appear, including some of conse-
Cuence for the east and for Cuba, and in
bars the car and implement demand makes
the Chicago market very strong, but at
Pittsburg works anxiety for future con-
tracts has depressed the price to S215 and
! in places some works have nearly caught
up with the contracts and are accepting
| S2.15. Sheets are also weaker, S.O5 being
quoted at Pittsburg, as the proposed com
4 tr,1t ttnt,G to fnfl cd In RI rot :
| for minor metals are reactiug, tin having
! fallen to sS062, with recovery to $3l 25 on
Dutch sales in october, 400 tons larger
than usual and lake copper is largely
offered at s17.37. Lead Is a shade lower at
$4.57la and spelter Is demoralized and offered
at SIS; coke holds strong, shortness of cars
hindering deliveries, though more ovens
| than ever before are producing. While
shipments of boots and shoes for Seotem-
year, and loss in any other reluctance of
buyers to pay as much as manufacturers
ask, renders spring orders much below the
| average
Buying of wool has been heavy at Bos-
| ton-1OC71,2OO pounds for the week and al
the three central markets 1S579,SS7 pounds
against 36,394,o9o in 1897, when the last
great speculation was, on foot. Many mills
are now buying which have reeently II,
American Woolen company, with others
which have bought largely before, while
foreign quotations and some British buy.
| stimulated the market, though prices are
not quotaby higher. The demand fol
goods improves and great season is con
fidently expected. The advance in cottor
goods does not stop, for the demand !:
| heavy and standard print cloths have beer
raised 1sc by the selling committee Bu
| the operatives have demanded highe1
| wages, possibly induced by reports made
when the combine was proposed and som'
works may stop.
The cotton market closes 1-16c lower, The
shortage of the movement being attributed
largely, and perhaps too largely, to con
certed holding of stocks by growers or fac
tories .uns
The increase in October compared will
last year has been heavy and exports hav'
been small although at such prices tina
100000 bales represent rtearly as much valu
as 700 900 last year. .D|
| The wheat demand is practically un
| changed. while Atlantic exports, flour in
cluded, have been 12,932,S41 bushels in fou
weeks, against 13, 4S3O O56 last year, and Pa
cifc exports 2.19777l bushels, against Sl24,
306 last year. Western receipts fall shor
and in four weeks have been only 3OO22, O5
bushels, against 40,150,699 last year. With
out concert, there is probably some wait
ing for better prices by farmers. Corn eX
ports continue to show the magnitude o
foreign demand for breadstufs. reaching
14,47S,7 719 bushels, against S546,973 last year
| and the demand has been large enough t
| advance the price II cent
| Failures for the week have been 100 u
the United States, against 226 last year
and twenty three in Canada, agains
| twenty-four last year.