The times. [volume] (Washington [D.C.]) 1897-1901, 1900-06-23
DUN's REVIEW OF TRADE.
A Great Foreign Demand for Ameri
can Grain.

|
NEW YORK. June 22.-Dun's review to-
morrow will say:
THE damage to the wheat crop of the
Northwest is the event Of chief Importance
| How extensive the loss may prove, in view
of widely conflicting accounts, can only be
judged from the speculative markets in
which information gathered at the West
/ has caused q remarkable advance, at Chi
cago Is cents in ten days. The price here
has advanced II cents per bushel, though
| for the September option only cents.
THE belief is that so large part of
the spring wheat has been killed as to
reduce a yield hitherto expected to be
close to the largest or record to consider
ably less than the world has required in
the crop year now ending.
Until within the past three years 1t
would have been reasoned that any ma
terial advance in price would neutralize
the foreign conditions which had caused
exports of about SG,G00.0OO bushels Of
wheat, flour included. in the closing year.
after 800, 0C0,0CO bushels in the previous
year and 2i1000,G00 bushels in the year
1898, besides exports of 213,0G6. coo bushels
OF corn in the closing year. against H.
100000 last year and 212 0c0, eco in the pre-
vious year.
But the facts seem to indicate a more
extensive and lasting increase of foreign
demand than has been considered probable
Other sources Of heavy export have been
found disappointing. The United States
continues TO show enormous power Of in
crease, supported by prices which, until
recent years. would hardly have been re-
garded remarkably high. II the coming
r,f1-
mand for it may prove surprising. even
though prices average more than has been
expected.
The closing of manufacturing works at
this season usually has double meaning
The labor organizations seek in the sum-
mer vacation a settlement of wages for the
coming year. Last year the pressure for
products was so great that concessions
were readily made and others later. so
that the rate Of wages became the highest
ever known since the currency was depre-
ciated. This year extensive demands are
being made, without approach to settle
ment as yet. in many of the branches of
business, so that the summer vacation may
be more extensive and in some lines longer
than usual
In iron and steel progress toward that
end was made when the structural pro-
of beams to S1.90 and angles to $3.50 at
Pittsburg. leaving only rails and tin plates,
which have not been reduced from the
highest point. The rail works are crowded
far ahead and the question in tin plates
depends largely upon wages
The shipments Of boots and shoes. only
233, 743 cases in three weeks of June. are
over 20 per cent smaller than in 1899 or
1895. The jobbers still appear inclined to
wait, and some manufacturers decline re-
cent quotations and have closed or re-
duced forces.
Lower prices again reported for several
grades of cotton goods and are expected
for Others, and buying is thereby retarded.
The price for raw cotton has again adj
vanced quarter during the past week.
but without clear indications of increased
demand for the supply remaining or the
insufiiciency Of that supply. In WOODEN
goods also the manufacturers find that the
demand fails TO answer expectations or to
support prices asked at the opening. and
some large works are now reported run
ming part time or closing.
Stocks have been dull and weak with
some London selling, in part because
wheat reports indicate smaller future traffic
but mostly because excellent earnings
seem to have so little influence here Ex-
ports to other countries show a steady
and handsome gain, while imports are
scarcely larger than last year.
Failures for the week have been 179 in
the United States against lis last year.
and % in Canada against is last year"