Omaha daily bee., 1899-06-17
DUN'S REVIEW OF BUSINESS
Iron Continues Feature of Weeks Trading,
Despite Large Output.
CONSUMPTIVE DEMAND HOLDS UP WELL
As Il Whole Activity Prevails In All
Branches and Prospects for the
Future Are Very bright
Failures Again Small.

NEW YORK, June 16.-R. G. Dun G. Co.'S
Weekly Review of Trade will say tomorrow
1t is one of the paradoXes of business
that the one thing which makes prices rise
Is the only thing that clouds the future.
They rise in iron and wheat because scare
ity is feared. The scarcity, long and real,
would much impair prosperity In wheat it
does not seem to be real, nor in iron last
ing and meanwhile other elements of pros
perity continue potent. 1t is a great thing
in money markets that exports of gold have
caused no apprehension, because recognized
as mere borrowings by foreign bankers, the
May return of foreign commerce showing
exports $23,OOO,OOO larger than imports, in
spite of a decrease of 30 cents in the ex-
port price Of wheat and a large Increase in
imports. In eleven months the excess of
merchandise exports has been S495, ,OOO,O 600
and the bankers estimate that $3.50 ,00O,0 600
worth of securities have been returned from
Europe with so few in recent months that
the amount remaining to be dislodged is
probably small.
The scarcity of iron is real, in spite OF
the greatest production ever known in his
or any other country, 256,O62 tons weekly,
June /, against $50 O95 May /. For stocks
were reduced 1902 tons in May, indicating
a consumption of 1,190,SS0 tons, against
1000 900 tons per month last year, the great
est ever known. Consuming demand does
not seem to diminish and appears greater
because it falls upon works crowded for
months ahead with contracts at lower prices,
but some of it is speculative and would
cease with prospects OF lower prices. With
more furnaces going into blast, ten last
month"; production will oYertake the de-
mand after a time and the largest buyers
of finished product for implements and car
works and railroads are taking nothing 10
cover next years needs. Pig has been ire
gularly strong at the east and at Chicago
and unchanged at Pittsburg, while finished
products average 2R per cent higher, plates
bars, pipe and rails sharing the advance
with demand for structural forms and sheets
beyond the capacity OF works.
The woolens gained a little further ad-
vance in clay wOrsted and indigo blues
with generally strong demand and works
well engaged ahead. But dealers face the
stubborn fact that consumers accustomed to
cheap grades make every advance difficult
and mills appear to be buying very little
In markets which are counting largely on
rise in wool. Sales, mostly between trad
ers, have been in two weeks 16,2i7 zoo
pounds, including 1887 800 domestic, but
unless speculation halts will not indicate
anything, as to consumption, nor is any
thing known OF the stocks actually held by
mills Cotton goods have been fully sus-
tained, with advance In prices beyond coed
demand. The cotton market has not
changed, doubts about the coming yield be-
ing held back By certainty of large stocks
on hand and the decrease in acreage re-
ported by the Financial Chronicle hinders
faith in the government estimate of q
larger reduction in acreage OF about Del
cent.
Wheat reports by the government seem
60 mean just what anybody wants them "a
mean. but the Produce exchange interpreta-
tion of the June report that the $4,000 0Of
bushels mean no greater decrease in yield
than may be beneficial both TO the growers
and consumers is considered the correct
one. With subsequent additions TO stock
from the last crop 1t would provide for eX
ports of nearly 200 600 900 bushels and for
eign prospects though by no means WHOLLY
cheering, scarcely warrant expectations Of
a large demand The price has risen
cents. but much prudence ID shown, for