The sun., 1900-06-30
UNCERTAINTYIN TRADE
Various Causes For This Ascribed by
Dun's Review. .,s@
THE TROUBLE IN CHINA ONE,
Comments on the Condition of BUSH
ness In the Metal World and
In the Wheat and Corn
Markets,

New York, June Or. G. Dun &
Co.'s weekly review of trade says:
The country begins to feel some of the
effects of its new place among the ma
tions. Influences affecting it's business
during the week ranged all the way from
boycott at st. Louis to a war in South
Africa, and from sun spots to the relief
of Peking. Droughts and sun spots have
played their part before, but none can
quite foresee all the results of defending
American rights in China. Political in
huences also tend to color current op;n-
ion about most things in presidential
years. All these and other influences
work together To create a state of uncer-
tainty until the controversy is over.
The long effort to hold nominal prices
for iron at Pittsburg has ceased and the
associations now recognize an open mar
ket i'll which bessemer is offered at SO
and billets at S26, with gray forge at
SlI. Scarcely single transaction is re.
ported, buyers abstaining even more than
when prices We're purely nominal, and
while there are many considerable con
tracts waiting for a safe basis in cost of
material, the problem is rather difficult
one. Over 50 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
the labor organizations. With a proper
adjustment of supplies and prices to the
actual demand a heavy business is possi-
Bile, but delay at this season may affect
prosperity for some time to come. With
steel plates quoted at 1.30 at Pittsburg
and No. ~ sheets at 20 cents, no general
gain i'll business results from the sudden
decline i'll structural shapes.
The Wheat Crop.
Neither official nor unofficial accounts
have removed doubts about the wheat
crop, and if it proves as low as one esti-
mate, 460,000,00O bushels, the extent to
which 1t may now be displaced in Eu-
ropean consumption by corn will be seri-
ously tested. Exports of wheat and corn
were 429,000,0O0 bushels in 1898 and
400, 100000 in 1899 and have been about
19O,0OO,00O bushels of wheat and 21O,-
0OO,O00 bushels of corn in the crop year
of 1900. but never as large before, for in
1892, when 225,000,000 bushels of wheat
went abroad, there were only 100000
bushels of corn. But all recent estimates
of production have been so far distrusted
that 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, because
it will help to show how unworthy of |
reliance some estimates have been. In |
four weeks of June Atlantic exports of |
wheat, -four included, have been 10,9SO.- |
OI6 bushels against S,934 .63S last wear
and Pacific exports 2,753,97S bushels |
against 2,445,T49 last year, while corn
exports in the four weeks have been H.
)S6.244 bushels against IL ,4S5, 500 last |
year. After rising cents wheat closed |
IA cents lower for the week and corn
only one-quarter cent higher.
The boot and shoe industry makes slow
progress. Most local works have closed
Dr arc about to close. though western pro
inccrs have a little better business than
EASTERN. 1t is thought jobbers will soon
begin orders for the fall. The shipments
sall far behind last years, amounting III
'our weeks to 313.494 cases against 400
SI3 last wear and 39T ,036 in 1898, while
Y most other years the quantity has been
lbout 100000 cases. Leather holders
complain Of too little business to make
| market, and, with some concessions in
losing out, declines of / cent in rough
lemlock, one-half a cent in glove grain
md | cent in No. buff are reported.
Hides at Chicago are also little weaker.
Failures for the week have been POT in
he United States against 1S1 last year
nd Il in Canada against % last year.