Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-10-27
Contracts for Steel Rails Nearly as
Big as Last Years Bookings,
WHEAT KEEPS DOWNWARD,
Foreign Buying Favorable 9ndica-
tlou-saics Of WOOL la Chief East
crn Markets sill Increasing.

New York oct. 26-R. G. Dunn q
Co.'s Weekly Review Of trade tomorrow
viii say. "The elections means a great
deal TO an business interests, and all
though confidence IN the future Is seen
on every hand. {, is but natural that
men do not care % take unnecessary
chances. and therefore delay new en-
gagements as far as possible until af-
ter the ballots are counted But con-
tracts for steel rails Tor the season thus
far are within $1,000 tons OF last years
heavy bookings, ana the confidence
IN an ultimate marked Improvement
Is so strong that all raw materials are
firm and without any speculative ac-
tivity TO stimulate them The agitation
for an advance In billets. though a
small one Is an indication Of what the
iron and steel markets expect IN the
next six months. and In the great in
dustries sellers Of material could easily
make heavy contracts If they cared to
attach political provisions 10 their en-
gagements.
However unreasonable features may
be, II Is likely to be better for business
IN the long run than the conservative
ideas which for the present are enter
tained. The weather over a great part
Of the country has been favorable for
agricultural operations, which are
progressing Well and In the
East the unreasonable temperatures
have retarded general trade compare
lively little as there has been no
great stimulus yet this season.
Conditions In the iron and steel
market steadily improved; orders grad
ually swell In volume and buyers make
less effort TO secure concessions. IN
most cases quotations are not altered
but there Is an advance TO {ZJ IN Fnll-
adeiphla for biIlets, owing TO the better
business In rails. Pig iron moves free
IS. especially at Chicago, where manu-
facturers have contracted heavily Tor
finished stuff In excess Of raw material
on hand Cast iron pipe is in urgent
demand. and new plans for ship-b build
ing viii take plates Bridge builders
are buying structural forms heavily
Makers OF rails and other products Of
iron have been accused OF quoting bet
ter terms to foreign than 70 domestic
buyers If this is done 1t would seem
to be the manufacturers affair rather
than the newspapers
minor metals are quiet except for
further weakness IN tin. Silver has
reached the highest price in four years.
Wheat also continues its downward
course owing TO the good news here
and abroad. but an encouraging feature
was the accelerated foreign buying as
quotations declined. Atlantic exports
for the week were 2.93502s bushels
against 2,253625 q year ago. and Pa
clic shipments S79O43 bushels, against
65S5 last year
SALES OF wool at the three chief
eastern markets continue 10 Increase,
exceeding Eve million pounds last
week. Prices are not altered and bids
slightly below the market are refused.
Cotton goods move rather more freely
as the price comes nearer parity with
raw materials. but wide sheetings are
dun al the advance 20 22c.
Failures for the week were POS In the
United states. against 1870 last year and
2S in Canada, against q last year"