The age-herald., 1899-08-19
DUN'S WEEKLY
 REVIEW OF TRADE
Cramps Need More Steel for
 Ships They Are Building.
IS A CURIOUS EXPERIENCE
Failures in the United States for the Week Were l56, Against l54 for the Same Week
 Last Year

New York, August 1s.-R. G. Dun Co.,, will say tomorrow;
 The Cramps have discharged many hun dred hands and ask Russia to extend help for completion for two war ships because they cannot get the steel Completion of twenty-one out of thirty-seven vessels building in the Delaware is also affected. It is a curious experience for this country, but shows the gigantic expansion of home demand. No one question the fact that payments through the principal clearing houses have been inaugurated 55.96 per cent. larger than in 1897, for the month thus far, and outside of New York 23.0 per cent. No better test of the volume of busi- ness is known, but there is growing handicap in the advance of prices. How long and how far this advance can go without reaction Is the problem which level-headed business men are studying. Evidences of checked consumption are rare, but it would be childish to hope that at some point higher prices would hinder buying. In iron and steel billets which the great consuming companies have brought far in advance so that all new orders have a narrow market For six months billets have sold at $4 to $6 higher than the rails made from them. Other de mands not covered by contracts are mainly for various shapes and sizes only prescribed in contracts. While prices have risen 25 cents for southern pig iron, 50 cents for Chicago local pig iron, 50 cents for Chicago local coke and 75 cents for Grey forge at Pittsburg, rails have ad- vanced $1 per ton, with work covered for all this year and 100000 tons or more taken beyond what can be delivered until next year. Other finished products don't change although the demand at all points exceeds present capacity.
 Copper is steady at 1872 cents for lake, with production for July 21 ,33S tons domes- tic and 1890 tons foreign. Tin is lower at 3O% cents and lead weakens on the stoppage of the smelters strike. Cotton rose a week ago to 6.5O cents, but has fallen to 619, MT. Neil having estimated the coming yield at n,25OO0O to 100000 bales. Consumption here and abroad has been very large and prices of goods are rising while cotton falls and stocks carried over must also be large but will be less than present returns indicate For wool, Coates circular for August 1 still holds good, although inside quotations are more often made Sales for three weeks have been 2S, 990 pounds against 1896, 300 last year; SS.53O,3O5 in 1897 and 23,365,400 in the same week of 1892. Goods have advanced further, especially in cashiemers, cheviots and cotton with the tendency upward in nearly all grades.
 Wheat has advanced about cent during the week with Atlantic exports only 2,963 300 bushels flour included, against 3,059,3SO last year and Pacific exports 951 ,329 bushels against 3,369,229 last year. It is a question whether the smaller receipts are due to recent changes in crop prospects, giving holders of grain better outlook. Exports of wheat in three weeks hare been from both coasts flour included, 9,973 764 bushels against 10,114,2 ,246 bushels last year and the western receipts have been Il 1864 696 bushels against 9,0151S0 last year, but 1t is also sig- nificant that corn has risen from ss of a cent with receipts of 3,026,692 bushels for the week against S,514,162 last year, while the exports have been 4043,3O2 against 1902 last year.
 Failures for the week in the United States were 156 against 154 last year and in Canada twenty-four against seventeen last wear.