New-York tribune., 1899-07-17
MONEY AND RISINESS.

The most important disclosures Of the week
have been in the great industries. The fact
that iron production increased 93Ol tons In
June to 2G3, 1868 tons weekly while unsod stocks
rot held by the great steel companies were re-
duced So 4no tons to 220. 135, less than a single
weeks consumption, was apparently misinter-
preted by people for Bessemer rose to
$50 1J at Pittsburg, and Grey Forge TO SlI 20
anthracite at Philadelphia TO $50 30. and local
coke at Chicago to $40. The alarm was in
creased by the stoppage Of six Sharpesville fur
naces which are said to produce about seven
thousand tons per week, but the stoppage was
expected to be brief, and according to late
reports the strike has been settled. There was
misapprehenson. II is highly probable. In sup
posing that stocks held by steel companies were
not materially increased in June or MAY,
whereas II is reported that such companies have
taken heavy supplies from the outside market.
as they would have done In common prudence,
having contracts running till next January or
even further But with allowance that
score the returns show the greatest production
and greatest consumption ever known and
more furnaces going into blast every week,
while there is not evidence that the consuming
demand is increasing. although 1t has tied up
many of the works for the rest of the year.
of tinplates gives surprise only because the
great rise in cost OF materials is not remem-
bered When the last advance was made, on
March 10 Bessemer pig was selling at Sl3 20.
and pig tin at 23S5 cents. against 2S25 cents
last week. Reckoning 2h pounds OF tin to
Lox Of plates, and loss Of 20 per cent in turn
ing pig iron into blllets. sheet bars. sheets and
in timing. the advance in crude materials alone
would make the plates cost 1892 cents more
row than In March so that the - per cent just
added 10 wages in order to terminate the great
strike would have to come out of the profits
realized when prices were raised four months
ago. The end Of the strike sets many thou
sand men at work after two weeks of idleness'
hut leaves il to be seen whether the demand
for plates will be checked.
considerable advance has also been made
in many woollen goods. after some success
full selling by the American Woollen Company
which is said to have covered Its entire produc-
ton for the season in some lines. But the rise
is hardly enough as yet to cover the Increase
in cost Of wool since the middle of May, when
the manufacturers were objecting that wool
was too dear to be made into goods. Little
buying by manufacturers was discovered then,
or has been since. and the careful mention OF
q single purchase. which was certainly for con-
sumption though only 100000 pounds out OF
l., ,432 400 pounds sold at three markets for the
week shows how eagerly such symptoms are
awaited by dealers who have apparently taken
most of the y, ,2G1 100 pounds sold in two weeks
Cotton is held without change for spot though
declining three sixteenths last week for futures
Int the quantity now in sight. 109S4 093 bales,
is 100 900 more than last year. while weekly re-
ceipts exceed last years. and point toward a
crop Of i 100000 bales more. Exports In
half OF July have been 12jS $50 bales. against
only 4S151 bales last year. but takings by
Northern sprners have been 32,6I0 bales.
against only 449O last year. The goods are
generally IN sufficient demand to hold prices
fairly steady, though some fancy prints were
reduced one-haf cent
Imports and exports for the last week both
exceeded last years. though imports over 20
per cent for the month. but the exports OF bread
stuffs have now begun 10 increase, wheat and
-four in two weeks to 7.022.7S7 bushels, against
3 $50 460 last year and corn to S560SS3 bushels.
against 5233, 500 last year The price OF wheat
dropped a cent on Monday. and but slightly
more during the week. while corn declined only
an eighth IN all. The average price Of wheat
for the crop year was 77.5S cents. against 102 55
for the previous crop year. and for June 81 %.
against 963l last year. The larger shipments
give promise OF smaller decline In the staples
than was in June. when that loss was
So. 100000, but was overcome by an increase Of
$S 100000 In other exports. mainly manufact-
ured which were in value $43. .1O0s4. The
domestic exports OF the fiscal year were $1,000
900 less than in 1S07'0s. but in the great staples
the loss was ss59000O0 The gain Of $50. 700. 900
In other exports was probably about $3,OOO,O00
in tobacco. $2,0O0,00O In seeds and 100000 In
vegetables and FISH. leaving manufactured prod