The times. [volume] (Richmond, Va.) 1890-1903, 1900-06-30
BUSINESS FEELS
SUMNER DUILLNIESS
No Transaction Reported in Iron and
Steel Trade.
WHEAT CROP is A SMALL ONE.
The Extent to Which il May be Dis
placed by Corn Will be Givci, a Ser
ious Test if the Crop is as
Short us Estimated.
NEW YORK, June DR.. G. Dun & Co.'S
Weekly Review OF Trade Tomorrow VIII

.1=
NEW YORK, June 9.--R. G. Dun & COS
Weekly Review OF Trade Tomorrow VIII
say:
The country begins to feel some OF the
effects Of its new place among the nations,
and none can quite foresee all thezresul
of defending American rights in emma.
Political influences also tend to color pup
lie opinion about most things IN presl-
Dental years.
All these and other influences work To-
gether to create a state. OF uncertainty UNI
til the controversy is over. The long effort
TO hold nominal prices for iron at Pitts
burg has ceased, and the associations now
recognize an open market, in which Besse-
mer is offered $40 and billets a SIG, with
grey forge at S17. Scarcely a single trans
action is reported buyers abstalnlng even
more than when prices were purely noml-
nal, and there are many considerable con-
tracts waiting for a safe basis in cost OF
material. The problem is a rather diff
cult one; over thirty furnaces are said to
have gone out OF blast, and while some
have been stopped for repairs, many more
will be idle for a time until wage scales
for the coming year have been settled with
labor organizations.
With proper adjustment of supplies
and prices TO the actual demand, heavy
business is possible. but delay at this sea-
son may affect prosperity for some time to
come.
SHORT WHEAT CROP.
Neither official or unofficial accounts
nave rem owed doubts about the wheat
crop, and if it proves as low as one esti-
mate, 460000,0J0 bushels. The extent to
which it may now be displaced in Euro
pean consumption by corn will be seri-
ously tested. Exports of wheat and corn
were 429,C0o000 in 1898, and 400.o00ooo In
1899, and have been about 100000
bushels of wheat and 21OOC0,oo0 Of corn
in the crop year 1900, but never as large
before, for in 1892, when 225 100000 bushels
of wheat went abroad there were only
75,00OcO1 bushels of corn. But all recent
estimates of production nave been so
far distrusted and it is scarcely good
sense to base grave apprehension on any
so early in date, and the census this year
will be awaited with especial interest be-
cause it will help to show how unworthy
of reliance some estimates have been.
In fear weeks of June Atlantic exports
of WHEAT. flour included, have been 1885,
O76 bushels, against S.9S4,63S bushels last
year, and Pacific exports 2,7539I8 bushels
against 2.445,749 last year, while corn eX-
ports in the four weeks have been 1856,
284 bushels against Il, 1885 last year.
After rising 4 cents, wheat closed un-
changed for the week and corn only L.
cent higher.
The Fall River Committee has made a
sudden reduction to 2.S7 cents in the price
of regular print cloths. with not single
sale recorded. Nor are new demands re-
ported But neither the sudden reduc-
ton in prints nor the quiet settling in
prices of staple goods has stimulated the
market to desired activity. Depression
in the market for goods did not prevent
raw cotton from advancing TO 10 cents.
Failures for the week were 207 in the
United States, against ISL last year, and
% in Canada. against % last year.