The sun., 1900-06-16
CONDITION OF TRADE.
Comment by Dun's Review on thl
Weeks Business.
VOLUME CONTINUES LARGE.
Wheat Advances Nearly Three Cents
as n Result of Reports OF Wide-
spread Injury to Crow
ing Grain.

New York, June 15---R. G. Dun &
Co.'s weekly review of trade says: The
volume of business continues large, es-
pecially in states south of the Potomac
and west of Pennsylvania. Speculation
and the creation of new securities swell
cd business at New York, Boston and
some other eastern cities last year. But
beyond this narrow section the volume
of trade is this year the largest ever
known and on the whole shows no signs
of abatement. The official reports hold
out fair promise of good crops this year,
and the demand for staple farm products
has run close to the largest ever known,
while the exports of manufactured prod
ucts have been in ! / months ending with
May about 81 per cent larger than in
any previous year.
The output of iron furnaces June /
was 2963I6 tons weekly, an increase of
2,526 tons. making the yield only 1,63S
tons less than ut the highest point ever
reached Feb. 1. But the increase of un-
sold stocks to $3.50, ,4S0 tons, about 94,000
tens in May, dscloses larger decline
than expected in the new business, upon
which nearly all the works and furnaces
have now to rely, and reports that fur
naccs of considerable capacity have been
1
to be correct. Within a week or two the
labor organizations and the employers
will be discussing new demands for high
er wages and shorter hours, and the clos
ing of many works for lack of orders
will have much influence about that time.
Prices are gradually changing, anthracite
No. l to $50 and Pittsburg Gray forge
to $1T.50, and sales of bars are reported
there at $1.50. After the closing of fur
naces and works has more nearly adjust
ed present supply to the demand, the
fact that many large operations are held
back until prices have readjusted will
. have its proper influence.
|, Financial Changes.
Financial changes are not of impor,
tance. The shipment of gold to Paris is
by some connected with transactions on
: that side by several operators who have
taken large part here. Foreign doubts
about the future, especially about Chi
nese affairs, do not affect investors here
or abroad in respect to American securi
ties as they would if long and serious
complication We're expected. Railroad
stocks have been comparatively stead.
in prices though yielding an average O
80 cents per share, while the industrial
stocks have been more nearly sustained
by scattered events favoring importan
industries. The earnings of railway
: show good gains for the first week o
: June. and reports for May now covering
: SD, 42S6, in the United States alon
are 10.1 per cent larger than last yea
and 1871 per cent larger than in 1898.
s Wheat has been advanced nearly
cents with accounts of extensive iniur
: to growing grain, and the exports fror
Atlantic ports flour included, have bee
. in two weeks Of June 5,931,1S7 bushels
: against 3.526.S01 last year. Pacific eN
j. ports, 1,515,3SS, against 1,055,5i2 las
i YEAR and corn exports 6.000,4i2 bushcl,
against ;,S12950 last year. The activ
= movement from the farms seems TO dis
b credit many accounts of injury, althoug
n receipts have been somewhat smallC
!. than last ycar, of wheat iii two week
7.9Sl ,312 bushels, against 10.2D2,1S9 las
year. Ii is scarcely credible that If I'll
L supplies in this country wclc SO ncaIl
rs exhausted as many believe, the moy,
u mcnt would continue SO liberal.
Failures for the week have been 1f
'e in the United States against 126 la
e. year, and 21 in Canada, against is la
y year.