The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-02-21

New York, February T.-R G.. Dun
a Co.'S Weekly Review Of Trade will
say tomorrow:
Beyond question, business is expand
ing, and in many branches II Is larger
Notwithstanding speculative comolna-
tons which tend TO reduce It All mo-
nopolies or attempted monopoiies slim
ulate business while they are coming
but tend to stife IL after they come.
and the throng Of
trusts which have been formed or pro-
posed have given a temporary, oul
very Questional, impetus 10 trade But
beyond the influence OF these there Is
a genuine and substantial enlargement
OF business due TO theu nexemptsu pros
perity Of a growing population
The weeks optjut or pig iron teD-
ruary 1st. was 90, 629 tons against 24S,-
516 January LIST, and 2S5.52S December
1sG The average weekly production
thus indicated was about LOCO tons
greater in January than in December.
and the unsold stocks were reduced A.
GIL tons in January. against S',4fs in
December The stoppage OF several
furnaces for necessary repairs at a time
when the demand is most pressing mas
caused some fear OF famine, although
quite a number OF other furnaces have
started since February 1st, or are about
to start. Pig iron has advanced, but
the largest consumption ever recorded
in any month is in part due To n nasty
| purchases of products 10 be controlled
or advanced in price by a combination
There are so many of these in the iron
and steel industry that h present mar
ket does moi clearly indicate the mag
nitude of demand, ana disappointment
in some branches is not improbable. But
| the rise of 81 in steel rails, with ne
entire capacity OF all works engaged
| until after July LIST, is not unnatural,
~ rlataS for which rho
| legitimate demand is beyond all prece-
| dent, and the same is true OF bars, the
quantity required for cars, railway and
| agricultural implement works being
enormous.
No fictitious demand has caused the
rise in grain, for the exports continue
so heavy in wheat and corn that the
| advance of 3Ac in wheat is abundantly
| justified and the rise of &c in corn
| seems scarcely enough for the occasion.
Atlantic exports have been retarded by
the blizzard, but have been 2,265, 115
bushels, flour included, against 3,142,
O57 last year, and for the crop year h u
far the exports, including flour, have
beer 156, 1877, 740 bushels, against }43,
| ia, 142 last year. When il is remember
ed that the exports of corn are almost
as large as the largest ever known,
there is eason for astonishment at the
continued foreign demand. That is
| persists III spite O1 the SlEOuS duNdiICS
in prices here since September lst, is
most encouraging. 1t is obviously i'm
possible to judge how far it may go.
Nor does the foreign demand for cot
ton abate, though the price has again
beer raised 3-16c during the past week.
The exports have decreased some, but
| the controlling fac. is that a remark
able shrinkage in receipts from planta-
tions appears to indicate a smaller yield
| than has hitherto been expected. 1t
should be remembered that the receipts
have been greatly hfndered of late by
a weather, and when it passes away
they are likely to look large, as they
now look small, but snow in New Or
leans also means failure to save and
| market some cotton which might other
( wise be saved.
The heavy demand for goods helps to
advance prices just now, although no
assurance can be given that the de-
Ginning prices will not presently check
that emand
There is much more inquiry for wool,
and the manufacturers have a larger
| demand for heavy weight goods, but
they maintain that they canno pay
prices now demanded for wool, and
most of the purchases made appear to
have been at some concessions.
The minor metals have been running
weaker, with a reaction in London al
though the industries have shown no
abatement of the demand in this
try, and the rise in prices here is due
largely to increased consumption.
Failures for the week have been 11S
in the United States, against 295 last
year