The age-herald., 1900-07-28
A WEEKLY REVIEW OF GENERAL TRADE Practical Assurance of an lm-
 mense Corn Crop. IRON AND STEEL DEPRESSED The Expectations That Price Declines Would be Checked by the Arrival
 of Finished Materials Have
 Not Been Realized
IRON AND STEEL DEPRESSED

row will say:
 | Important changes in trade and specula- | ton are notably lacking this week, but | counter currents of demand in various sec | tions and industries lend rather more | than usual irregular appearance to the gen.
 eral situation. Among the notable feat | ures calling for notice are the practical | assurance of an immense corn crop by | the recent copious rains in the further
 west the continued cheerful reports from | the sections which have gathered and now 1 are marketing a large winter wheat crop, | advices of continued improvement in tone | in the northwest, with reports of renewals | of early cancelled orders for fall goods, | fairly satisfactory gains in gross railway | earnings less weakness in prices of the | count leading cereal products based ap- | parently on renewed buying for export and
 rather more inquiry for raw wool by manu- | facturers.
 Unfavorabe elements in trade probably | find their chief and greatest exposition in | the iron and steel business That industry l is, if possible, more depressed than at any 1 time for three years past, and expectations | that price declines would be checked by
 the arrival of finished material at cost
 
 | week steel bars have been sold in some
 instances at l cent per pound, which is | professionally below the basis of cost of | raw materials and manufacture. A large | tonnage of this material and of southern l pig iron has been worked off seems certain, | but 1t is still buyers market, with every | thing that this implies.
 Export business would undoubtedly ex- | pand if ship room were available. Among
 other metals, tin is locally lower on l arrivals, after touching the highest point | ir twenty-five years.
 l The trade in dry goods at the East par l ticularly, seems backward pending clearer l realization of the cotton goods situation. Bleached goods have been reduced, but l gray goods and brown cottons are steady. | Some re-selling of their raw cotton by | Eastern mills for export is reported Sat | 1sfactory progress is reported to the grow | Ing American and Egyptian crops, and the margin between old and new delivery tends 1 10 widen. Rather more inquiry for wool l at Eastern markets is a sign of manufac- turers getting ready for the Eght-weight l season.
 | Wheat, including four shipments for the l week aggregate 2,363, 743 bushels against B. e29,3Sl bushels last week; 3,366, ,432 bushels in | the corresponding week of 1899; 2,371, ,S72 1 bushels in 1S9S 2,34S,O21 bushels in 1897, and l 2,64S, 74S in 1S96
 From July to date this season, wheat l exports are Il, ,S16 bushels against 13797,-
 z9z bushels last season, and 10, ,3S1 S10 in 1S9S- | 99. Corn exports for the week aggregate B. A37 bushels against 4,1S2 159 bushels last week; 3,7OO,320 bushels in this week year ago, 2601, ,S21 in 1S9S 14S2, 715 bushels in 1S97 and 1,495, SIP bushels in 1896.
 Business failures number 83 in the United States against POP last week; 17O in this week year ago; 1S9 in 1898; 259 in 1897: and 2l in 1896 There were 13 in Canada against 26 last week; 16 this week last year, l S4 in 1898; 32 in 1895, and "A in 1896. DUN's REVIEW New York, July FIR G. Dun's weekly 1 review of trade tomorrow will say: Activity in raw materials is not present | 10 discourage new business. Producers and consumers are getting together in more than one direction, although midsummer
 inactivity is emphasized by disturbed for | eisn relations and hesitation always att tending national political campaign False starts are to be feared but the dan- gefouS optimism of last autumn is lacking | and new business is at lower prices The decline in wool brought many manufactur- | CTS into the market asking terms. Good | sales of California and territory wools were made to mills, and the trade showed larger | purchases to follow the opening of spring goods by the American Wool Company Next week holders who have had difficulty | in storing were the chief sellers. Sales of wool at the three chief markets were only 4,3S7 ,500 pounds against 10,773,500 last year. Cotton omproved slightly and more busi- ness occurred in cotton goods. A reduction from to 6%c in A beached cotton closed out the entire stock in 4S hours, prices be- | ing restored.
 | Similarity in iron, the depression in | which has resulted in hesitation and fear | in other industries the tone is better; and | in the Pittsburg district the mills have booked a line of fair orders in bars and plates. Structural and bridge materials l are better taken The refusal of the Amal- l gamated Association to allow shange in l the wage scale adopted in May has led to strikes at numerous bar mills and the Re- | public Company is to dismantle some plants to secure concentration, but the non 1 union capacity will prevent serious scarci- | ty
 Further business in bars shows that agri- | cultural implement makers are more active. | Grey forge has fallen to 15 at Pittsburg | and Bessemer steel billets sold at $19. With | the uncertainty of the conference of the | steel companies at Chicago removed, buyers | may proceed with less anxiety. Export orders advanced electrolytic copper from | 16A to 16as in large lots.
 Jobbers in boots and shoes are demand | ing prompt delivery on old orders, but new | business is scarce. Further delay in fall | and winter orders will entail reduction of 1 forces at factories Manufacturers are | taking leather only for immediate needs | but sole Is more active and large sale | for beltfng at a moderate concession is re- ported. Packer hides sell freely at Chicago l at the recently reduced price. It was not surprising that wheat de- l clined still further this week, for the price l had been held far above the quotation rul- l ing at this date in 1899, and crop conditions | are so generally satisfactory as to assure l an abundance for all home demands and l the usual amount for export. High prices l have curtailed foreign buying to some ex- | tent; in four weeks Atlantic exports of l wheat including flour, have only been 7.- | 266,436 bushels against S,4S0 431 last year. | The shipments of make a more satis- l factory comparison, in four weeks amount ing to 12,720,435 bushels against Il, ,SS1, ,479 a | year ago.
 l Fallures for the week were 23i in the l limited Io.