The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-01-28
THE CONDITION OF TRADE.
Large Transactions in Cotton and
Wheat.
CRAZE FOR COMBINATION
Higher Prices for Iron and Steel Follow
an Active Demand = Better Re-
ports From the Lumber Trade.
Wool Slow OF Sale.

| New York, Jan. 27.-Bradstreets to-
morrow will say: The apparently steady
| tide of general business has been diversi-
| fled this week by an outburst of specula-
| tive interest in number of staples, no.
| tably cotton and wheat, which heretofore
| have registered steady gains on actual
| consumptive demand rather than on the
development of marked bullish specula-
| ton. Large transactions and buoyant
prices have been features in these staples
and signs are not wanted that sympathet-
lie, though smaller movements, in a num-
Der of other lines are either under way or
contemplated. 9.e
Exceptional industrial activity in the
iron and steel trades is another feature of
note, and here, too, prices advanced, re-
fleeing, so far can be seen, chiefly the
urgency of consumers requirements, the
claim in fact being made that speculation
has not as vet entered into the buying in
this branch of industry. The same claim,
however, can hardly be made regarding
number of movements towards CONSOLE
dation in this and other industries, where,
in fact, the movement toward combina-
ton is approaching virtual craze. In the
regular channels of dstrbutive trade con-
ditions continue in the main satisfactory,
the volume of spring orders at most mar
kets being reported as larger than in any
recently preceding year at this time.
While it is hardly possible to fix the en-
tire responsibility for the bullishness in
wheat and corn upon the movement which
50 far has proved so successful in stocks,
the claim Is freely made that considera-
BILE profits realized in the stock market
have sought expression in the channels of
staple food and textile distribution. Color
is given to this claim by the fact that
the situation in actual wheat shows but
little cnange from recent weeks. 1t is
true that the tendency to pare down al
legged official estimates of Russian crops
and some weather reports from the West
have been more encouraging to the hold
ers of actual wheat but the magnitude
of the outburst Of new buying in shares
by former persistent shorts in wheat alone
hardly explains the activity IN this market
which has resulted in the highest prices
reached since the collapse of the Letter
deal.
Activity in demand for nearly all classes
of iron and steel is reflected in advances
for nearly every class of pig iron and in
steel billets. rails and wire plates. An
| nouncements of large number of con-
solicitations and combinations projected or
under way are also a feature in the do
main of other metals notably copper and
tin. Speculation and actual demand alike
make for higher prices ~
Better reports are received from the
lumber trade in number of cities and all
the old advances are maintained with con-
fidence in the outlook for spring business.
Some important improvements in the dry
goods trade are to be noted at some East-
ern points, notably Philadelphia and Bos-
ton, where advances are maintained.
| Wool, though firm, is slow of sale and
| finished products, with the possible ex-
ception Of dress goods, do not move as
freely as hoped for, feature of the week.
| in fact, being the very low prices an
ncunced by some manufacturers.
General industry is reported active,
notably soft coal mining and shipbuild-
| ing. An encouraging feature in the for
mer trade has been on the wage settle
| ment made with 100000 Western coal
miners for another year.
Wheat, including -four, shipments for
the week aggregate 4,999,572 bushels
against 5,19S,61 bushels last week, $685.
024 bushels in the corresponding week in
1898; 2515, 4OS bushels in 1897, $3.50, 205
| bushels in 1896 and 24s3.S5S bushels in
1895. Since July this season the exports
of wheat aggregate 144,322. 291 bushels,
against Jag, 494, 8S9 bushels last year.
Business failures are fewer in number,
aggregating 246. against 262 last week,
2SS in this week a year ago, 1926 in 1897.
1893 in 1896 and 312 in 1895. Business fail
ures for the Dominion of Canada for the
week number 80. against 80 last week. 40
in this week a year ago, Sc in 1897 So in
1896 and Sc in 1895.