The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1899-08-12
FINANCE and TRADE
As Viewed by the Two Leading
Commercial Agencies.
THE BOOM IN THE IRON TRADE.

The West Leads in the Demand For
Structural Iron : Many Establish
ments Long Closed Are Starting Up.
Wheat Receipts Indicate Fair Crop.
New York, Aug. Pr. G. Dun G
Co.'S weekly review of trade says: Al
ter great expansion business hesitates.
This year 1t is astonishing that the
hesitation has been so slight In ono
branch after another buying has halt
ed, only to be followed by larger buy
ing. 10
The output of iron furnaces in blast
Aug. / was 269, 032 tons weekly, sos
per cent more than in 1892, and 81
per cent more than last year. With
decrease of 27,367 tons In unsold stocks.
nearly half in charcoal iron, the ap-
parent consumption and exports do not
exceed 1,2l0,744 tons, which barely
equals the lowest report Of production
Aug. /, and other furnaces have start
ed since that date, with several more
to follow. The supply appears to be at
least equal to the demand, although
new demands for the week have COW
cred 2,100 tons for new buildings at
Chicago, with much for bridges, and
1000 tons for eastern buildings at
Pittsburg In bars both east and west
the mills are unable to take all orders
offered, nor in plates can they take
all orders anywhere, while In sheets
the western mills are overcrowded,
though the eastern demand is lighter.
Cotton has risen three-eighths, ow-
ing to crop reports, but nobody believes
that the years production, with the
heavy stocks carried over, will fall
below the requirements for consump-
ton. The demand for goods is enough
to cover a heavy consumption OF cot
ton, but does not now appear to be
gaining. Wool is a little less active
after its great rise and inside quota
lions are sometimes accepted, but sales
at the three chief markets have been
20,206, $40 pounds instwo weeks against
23,495,800 in the same weeks of 1897
and 16,436,S00 in the same weeks OF
1892.
Wheat receipts at the west have been
1862, $40 bushels in two weeks, against
5,645, 960 bushels last year, making it
hard to believe the unfavorable crop
estimates which still come forward
from unofficial and official sources.
The exports have slackened, amount
ing to only 6,269, 1888 bushels, flour in
cluded, from Atlantic ports, against s."
945,311 last year, and from Pacific
ports 100000 bushels, against 924,155
last year, other exports being 457,2SS
bushels.
Bradstreets' review says: Crop re-
ports and probabilities have CONSTITUTE
ed an important contribution to gen.
eral trade advices this week. Among
the unquestionably favorable features
have been the reports regarding the
corn crop, government estimates point
ing to yield Of probably $4,000 900, 900
bushels, heavy increase over last
year and almost within touch of the
record total of 1896. Spring wheat in
dications apparently bear out earlier
trade advices in showing decrease in
condition during July. The reduction
of 100000 bushels in the probable
outcome estimated. however. still al
lows of total wheat crop Of 535, 00O,-
900 bushels, considerably smaller, it
Is true, than last years, but, with the
exception Of 1898 and 1891, the heaviest
recorded.
The iron and steel situation is par
ticularly interesting at present. Though
not specially active at eastern markets,
western advices are of heavy demand,
scarce supplies of material, high prices
and increasing volume of business
booked for next year. The July pro-
duction of pig iron was the largest
ever known, but, in spite of this, stocks
showed decrease. and current pro-
duction Is easily at the rate of 14,000,-
900 tons year. The annual railroad
car famine is apparently about at
hand, reports of insufficient transport
alton facilities being particularly
prominent in the coke and coal indus
triaa