The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-09-02
eRADsTREETs REVIEW.

tile community faces the trade situation
with confidence. The most conspicuous
! exception to the money market advaa-
ces in price is found in cereals, which
are weak and declining. Lower prices
for wheat, corn and oats point TO spec
ulative liquidation of tired holders who,
with confidence in the future of prices,
have weakened under unsatisfactory
foreign demand, larger receipts and the
ns3r approach of expected heavier crop
movement.
Corn crop prospects though less rosy
VIII point TO a full yield
Cotton, too had " eakened slightly
| chiefly because of advices of rains at
the south though Texas crop advices
are still unsatisfactory and stories OF
permanent damage are forthcoming.
With these exceptions most staples
are either firmly held or evince decided
progress upward notable in this latter
respect being iron and steel of all kinds,
I but particularly pig iron, which now is
the centre of trade interest owing to
heavy demand particularly for foundry
grades al advancing prices. Trade re-
ports would seem TO indicate that a
good part of the productive capacity of
the country is already engaged for the
first half of 1900. From the nlanufactur-
ing trade exceptionally good reports
come
Trade reports would seem to indi-
cate that a good part of the productive
capacity of the country is already en-
gagged for the first half of 1900. Sym
pathetic strength is evinced by other
classes of material, among the mate
rials advancing this week being bar
iron at nearly all markets, steel bill
let's, rolled iron and steel, tin plates
and nails. A feature remarked upon
in rIr =
this week is the backward state of iron
deliveries affecting current production.
Though demand is backward for an
thracite coal at the east, prices are re-
ported further advanced at the interior
From the manufactured textile trade,
exceptionally good reports come. Au-
gust witnessed a general gain in the
prices of cotton and wooden goods, evil
IDENTIFY the outcome of active demand.
Scarcity of material and backward de-
liveries of same are reported by cloth
ing manufacturers at many points,
| north, west and south. Discussion of
the proposed consolidation of She Fall
River mill interests has been less
marked this week, but there is conf
dence in some circles that something of
the kind will soon occur
Among other textiles, strength is spe-
ciaily notable in hemp in sympathy
With London, whence come reports that
Philippine shipments will shortly cease.
Increased strength has been impaired
10 hides and leather this week by the
launching of the new upper-leather
combination. Boot and shoe manu-
facturerS are actively employed but
the margin of profit is reported exceed
| ingly small, owing to keen COMPETE
ton. Lumber retains all its old ac-
tivity, and in some lines manifests new
strength as regards prices. The re-
fined sugar war apparently still contin-
ues, one result being the stimulation
OF consumption to notable extern
| A good business is doing in tobacco
at most markets, special activity be-
ing reported from manufacturing CEN
tres in Florida, whence it is
| reported that the next Cuban crop
Will be very large one. In Industrial
lines, the situation is reported very sat
lsfactory. Employment is general, and
strikes and labor troubles generally are
| conspicuous by their absence. The
practical failure of the window glass
factory combination is indicated in
western press dispatches
Business failures for the week are
smallest reported for a long time, num-
| bering only 131, as compared with 154
last week, 16S in this week year ago
and 1913 in 1897. General trade adyices
are OF further expansion in fall de-
August is reported to have been the
| heaviest on record for that month, spe-
clally heavy orders being booked for
| dry goods, clothing and collateral lines
| "A large part of the iron and steel pro-
| duction of the Chicago district is re-
| ported already sold ahead for the first
half Of 1900, and many producers are
| out OF the market for orders till near
| the close of this year. Anthracite coal
and white pine, in addition to most
classes of iron and steel, are higher at
| that market
Lead has reached the highest point re-
/ corded at st. Louis, and here again de-
mand for iron is reported in excess of
| supply. August bills of St. Louis dry
goods jobbers are the largest reported
for that month. Throughout the CEN
tral west and in the northwest whole
sale business is reported active in most
INES Satisfactory reports come from
| most southern markets, those being
most marked, however, in sections de-
| voted to industrial and manufacturing
| business. Special activity is noted in
iron, coal and lumber. Atlanta reports
orders for bagging and ties heavily cut
down, this being taken to indicate a
snort cotton crop in the tributary sec
tion. Larger receipts of cotton at New
| Orleans are explained to be due to pre-
mature ripening, caused by hot and dry
weather.
A scarcity of freight cars is COM
/ planned of at several southern points.
| Wool is strong at Boston and the same
/ IS true of the manufactured material
| and cotton goods Southern buyers are
numerous at Baltimore and cheaper
grades OF tobacco are bringing good
| prices. Manufacturers Of canned
| goods are very busy, particularly in
| putting up vegetables. The advancing
price of tin is expected to influence
prices of this product materially. New
York dry goods jobbers and agents re-
port an almost general gain in prices of
| cotton and wooden goods, and manu-
facturers are buying wool quite heavily.
| satisfactory reports as regards de-
mand, indeed, come from nearly all
lines Of New York trade, and confidence
| in the future is noticeable.
| Bank clearings at rs cities for August
show an aggregate of $500, 463.443, a
| total smaller, as was to be expected
| than for any preceding month this year
| but larger by 23.4 per cent than those
OF August a year ago, in which month
| very large increases first began to he
noted, 43.4 per cent larger than those
Of August, 1897, 95 per cent in excess of
August, 1894. For the eight months of
| 1899 the clearings at rs cities aggregate
$62,050, 949,254 total AZ per cent in ex-
| cess Of last year.
Wheat, including flour. shipments for
| the week aggregate 3,613,4l3 bushels
against 3,6SI04O bushels in the corre-
| spending week of 1893. Since July /. the
| exports of wheat aggregate 33122 337
bushels, against 29593,5 92 bushels last
| year. Corn exports for the week ag-
| gregate 4,167S68 bushels, against .66l =
| 700 bushels in this week year ago
Since July l. corn exports aggregate