The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-01-14

NEW YORK, Jan. 13.-R. G. Dun & Co. g
Weekly Review of Trade will say tomorrow:
Contrary to the French saying the expected
has occurred. Rapid advance in prices of iron
and steel products have had their immediate
effect, perhaps not to the lasting benefit OF
the industry, for there is the same reason for
doubt as to it's permanency as in 1895, when
shrinkage of buyers and reaction soon carried
prices lower than before. But there is now
larger demand for many other products, and
without unwieldy combinations all are doing
well. Throughout the country was never as
strong financially, as even governors of Lon
don banks admit, one stating that as London
has financed America heretofore now, for the
first time, New York is financing Europe. No
evidence of weakness is seen in the other
branches of industry nor in those upon which
the great excess of exports most depend.
Wheat and cotton still go out largely. Eu-
rope is buying because it has needs and New
York is lending to Europe nobody knows how
many millions because there is for the present
need to call loans. The receipt of 81, 500, 900
gold from Australia is announced at San
francisco.
Americans are in the humor to invest in their
own country and have great amount of
money TO put out without recalling any of
their loans to Europe, so that the heaviest
transactions ever known in the Stock Exchange
have occurred during the week without the
operators have been looking.
In products. also, the position of the coun-
try grows stronger. Last years exports of
wheat and corn were far beyond all precedent,
but the past week has seen exports of i,235 csc
470 last year from Atlantic ports, and in two
weeks 9.452 100, against 60S6, 7sS last year. be-
sides exports in two weeks from Pacific ports
of 1,724 05l bushels, against 2340, 009 last year.
1t is quite Impossible to account for such
movements on the theory that at current prices
this country is underselling the world and has
great quantities yet to move at similar prices.
There was an advance of 114c in wheat dur
ing the week. and 1c in corn, without any
Indication that supplies running short. and
the Western receipts of wheat have been in
two weeks $685. 99 bushels, against 5,55S, 250
last year.
Neither is there evidence of weakness in the
great industries. The output of pigiron Janu-
airy l 243,5l6 tons, against 23552S December
/, showing product of about 5000 tons weekly
than has been estimated with further
decrease of 81. 444 tons in stocks unsold during
December. But while the Australian order for
81 900 tons is still on the market, with another
European order for 10, 600 tons plates, the mills
are so crowded that prices are moving up rap
idly. Bessemer pigiron is only 10c higher at
Pttsburg and gray forge 15c. but plates were
advanced 10c by the combination. Minor metal:
are also stronger, tin having risen in sympathy
to &C, heavy consuming demand helping in each
case The new combination in tin plates has
advanced the price to SO per box at the works.
There have also been large demands for struc-
tural work, 10000 tons in bridges and buildings
at Chicago.
Wool is stiffy held at the West although al
Boston Ohio is quoted at 2612c, but much higher
hampered beyond all expectations by the prices
demanded for wool, with the extraordinary
stocks yet unsold.
Failures for the week have been 31S in the
United States, against 349 last year, and "a in
Canada, against As last year.