Evening journal., 1899-02-14
nHE NArroNrs BusTNEas.

TO our readers the statement OF Duh
review az business and finance, which
says that the solid basis for good
business has not been shaken by
speculative reaction. stocks have been
slightly lower, and the market is an
the safer because much unsoundness
and unreaa-n have been shaken out.
Fluotuating within a range Of about
81 per share. railroad stocks closed a
shade higher, and On Thursday sales
on European account changed to con-
siderable purchases. Speculation inI
wheat. which for time depressed
prices. has a.so taken turn, and
with heavy exports the market tends
upward again. The cotton move
ment is no { essentially apelcm.a-
tive, but based on reported injuries,
and holds it's advance. Meanwhile dis
patches given to-day from all parts Of
the country show extraordinary ac-
tivity in the chief branches of trade
and a business much larger than a
year ash in nearly all. The heavy ex-
cess Of exports over imports contin-
ues, New York exports having been
in five weeks 16 per cent. larger than
last year. while imports were by 9 per
cent. larger. The philosophers may as
well red ,gnize thatbusiness Is not as a
rule transacted without profit When
it continues heavy, somebody Is max
ing money
in wheat Americans are getting
proflas even though prices are lower
than they were some mlnths ago. Az
ter some yielding the price rose to
1887 cents, and the May option rose
a cent during the week, with Atlantic
exports of S926692 bushels, -four in
cludda, against 2.l74,s21 last year, and
ntal exports, including the Facihc A.
647, ,4O5 bushels against 2,960,5i5 last
year. Western Receipts have been 81
056, 40G bushels against 2,957,770 h1r the
week last year. while corn exports foi
the week were also S,1C2 ,GO9 bushels
against 3,365,976 last year. AT higher
or lower prices, foreigners are con-
stantly taking more wheat and corn
from ms than in any previous year.
The d,tton market Is in Slightly
stronger position, because foreign buy
ing continues beyond precedent. while
home Indications now point to q
smaller crop than was expected Th'
alacks on hand are heavy, both com
mercial and mill, hut foreign buytlns
supports the rise in prices thus far
NTH operations help also, though al
this season they are naturally small
for the heavy demand for goods OF lat'
leads buyers % remember that tn
material has not advanced in prices a
much as staple coaaons a nee the gcwes
point was reached. Goods are rapidly
rising with the expanding demand bu
the material has advanced only al
eighth.
What wool is worth in view Of tn
great s,rdks yet urtonsrmed few ar
able to judge, and that fad. hinder
adjustment Of pIices FOR goods. sale
have been small, only 6,475, 400 POUND
at the three chief markets for th
week, against 5.SO3 200 last year. an
9.1579O0 in the same week Of lS9
but this year and in 1897 the buyln
has by no means represented consumg
tion only. While quarter and ha
blood wool and delaine have been
demand and firm. the quotations II
dictate weakness in Ohio and oth'
fleece. The goods market is Of sim
Tar character, string for cheviots an
serges, but not for fine, high-grade {
plain goods. The boot and shoe ma
l1et is also in a state Of transitio
and while prices have not change
during the week buying has be-
checked by advances in leather az
poor retail trade. Shipments from n
East have5enn smaller than East year.
in 1897, though larger than in 9th
recent years. Leather is aga
stronger, and scme grades. Of pack
hides at Chicago have advanced.
The iron industry is so eNploted
consultations and attempts Of tn
nature that Il is wonderful pric
have net reelected dieltrust Inste
there have been general advances,
pig because the demand has been larl
for Bessemer at Pitisturg to SILL
and Grey Forge to s1O75. and in
ished procuuts because nearly all q
in demand beyond the capacity
works for some time to come. The a
vance Of 10 CENTS per keg in wire ma
by the association was no. caused
any especial pressure for supplies. I
radls have advanced 81 per ton a
bars 81 because OF urge-t demand.
pacially at Philadelphia and Chical
for several thousand cars. and pl'
nils are everywhere overcrcwded.
the same time the many negotiatac
for consolidation OF interests both
Test trade in some quarters and d