The Anaconda standard., 1899-05-27
THE CONDITION OF TRADE
Volume of Business Is Constantly
Rising.
AN INCREASE IN PRICES
Demand for Products Expanding in All
Branches of Consumption-Behind
in Orders - Some Heavy
Sales OF Wool

Weekly Review of Trade tomorrow
will say:
Every year there is worry about
short crops, and yet the crops grow
larger The specter of monetary
trouble haunts men who know that the
country is strong beyond any doubt.
Promotion methods alarm men who are
already quite aware that it is only
needful to put promoted stocks in a
class by themselves. But all the time
the volume of business is rising, this
weeks payments through the chief
clearing houses are 62.1 per cent larger
than last year and 68 per cent larger
than in 1892. For the month thus far,
the daily average is 57.9 per cent larger
than last year and 66.4 per cent larger
than in 1892. Moreover, this week and
every other brings larger wages to
many and increased purchasing power
and the demand for products is conse-
quently expanding in all branches Of
consumption.
The rise in Bessemer pig iron to s17.65
at Pittsburg, 50 in two weeks. in Gray
Forge to $15.25 in Anthracite No. 1 here
to SIG. rs and in local and Southern iron
at chicago, results directly from the
fact that supplies are for the time less
than the demand. Many more fur
naces are in haste to begin work, some
succeeding, but others hindered by the
dlf1culty OF getting prompt deliveries
of needed parts of machines or prompt
supplies of ore and fuel. The natural
remedy that new orders now call for
less work than was done in April or
March is for the time hidden by en-
gagement of nearly all the concerns for
months ahead The largest and best
works are catching up with their or
ders, though much behind and obliged
to refuse many, while others are en-
tering the field. 1t is proof of an as
tonishing demand that after nearly Ave
months this congestion continues and
the rise in prices. including advances
of 81 per ton in plates and bars, is not
forced or unnatural.
Minor metals have followed London
so long that tin sticks at 1855, though
stocks are large and the demand is re-
markably poor, and lead at s4.45, though
the demand is slow. while copper
weakens to 1914 cents for Lake. British
statistics indicating a fall of nearlysa
quarter in consumption for four months
this year compared with last.
The heavy sales of wool, 80, 945, 900
three weeks. against 20,7S0,3 800 for the
same week in 1897 when the disastrous
speculation of that year had began to
turn and 14.212, $50 in 1892. are mostly
to spectators, as manufacturers are
doing scarcely anything: Weeks ago
they held that prices were too high.
even after some decline for the prices
at which goods oulu be sold. But
the Westhern and Eastern spectators
have settled it that the manufacturer
will be forced to buy at such prices as
they may fix and are taking large
quantities.
Wheat advanced cents, but lost
nearly all the gain on Friday. West
ern receipts have fallen to about half
last years and exports in four weeks
been 1S,5a0169 bushels -four included,
against 11,691.Ss2 bushels last year.
while from the Northern lake ports
7926,03 bushels have gone out this
year. But men forget that foreign de-
mand if not as large as 1t was last
year with famine impending. is much
larger than in the same weeks OF 1897.
when wheat exports were only 5,704.344
bushels and also forgot that the Letter
caused wholly unnatural May move
ment last year. for the Western re-
ceipts in the past four weeks, a.280,665
bushels compared with 19,206.255 bush
els last year, but 9,961.570 in the same
weeks of 1897. and receipts In that year
were not especially reduced but closed
quite large enough.
Failures for the week have been 142
in the United States. against 245 last
year.