New-York tribune., 1900-09-03
MONEY AND BUSINESS.

Economists agree that conditions in the
iron market may safely be taken as criterion
Of the entire business situation. II this be true,
the outlook is growing more encouraging each
week. Idle mills resLmng, and full time is
being restored where machinery running
only part time or with reduced force. Prices
have not started up with rush. but there are
no further declines and buyers have ceased de-
manding concessions In a few departments
moderate advances occurred, and there
naturally more eagerness displayed by prospec-
tive purchasers when the upward tendency was
noticed. Structural material is being sought
freely although some Of the biggest contracts
under consideration have not yet been awarded.
Bar iron is firm, with sales at Pttsburg
as high as 1.40c, although nominal quotations
slightly lower Similarly some lines Of Bes-
semer pig and other forms sold above the
market figures which tends to emphasize the
altered conditions. A few weeks ago all special
transactions were made at less than list prices
Complaints still made by Southern concerns
that could export heavily, especially of pig iron
If vessel room were available. But the sudden
foreign demand for coal is making freight space
scarce and rates high. With the British Ad-
miralty paying 80 shillings a ton for fuel war
becomes expensive, but American producers
reap benefit. IT is cause for distress that
exports of iron do not increase rapidly.
an increase of one-quarter over 1899. The
| trouble among ore handlers at Cleveland was the
only really disturbing feature Of the week lake
traffic being interrupted while shippers were
unable to fill contracts IN season. But it was
a question of deferred business rather than any
permanent loss
Mr.. Bryan has fit to state that business
is less active than at this time last year. BY
selecting certain lines Of trade and special dates
he +ba 0do goI
agencies and quotes them in support of his
statements. But, granting that this has been
the in industries, what advantage is
| it to the silver candidate? 1t is help to him
that 1S9S under Mr.. Mckinley, by far the
best year in the history Of the country up to that
| time That the following year was still more
| prosperous is not any reason why any one
should vote for Mr. Bryan. If. after two such rec
| ord breaking years. some lines of business halt
a little during the midsummer season, especially
when new investors are conservatively inclined
| on account of the political campaign in progress
it is not reason for wonder. but rather gratif-
cation that the reaction is not severe Let Mr.
| Bryan take one of the agency records and make
| a more reasonable comparison. The most serious
| depression and quetest business conditions Of
the year prevailed during July and August Ac.
cording to 'Dun's Review" liabilities OF com.
mercial failures in those two months were SIT.
095, ,67S. Comparing this with the corresponding
months OF 1896. when Democratic Administra
ton was ending and the country was disturbed
by the possibility Of Mr.. Bryan's election ant
monetary madness. we find failures aggregatins
S43609 1872 Banking defaults. which are sep
arately considered. but indicate the confidenc,
Of the people TO a marked degree, were fifty II
number with liabilities of $11, ,712 96O durinf
the third quarter of 1896. while for two month,
of the same quarter this year they foot up 81,
that compares.
The last week of tho old cotton year passed
without a single fuctuation in the quotation for
middling uplands. but the price merely
nominal. as cash business was being done
here. and there was a wide difference between