The age-herald., 1900-02-10
DUN'S WEEKLY
 TRADE REVIEW
 - Industries Are Still Surpassing Actual Output. THE ADVANCE IN COTTON It is Growing Belief That the Crop Will Prove Short Enough to Let the Holders Have Their
 Own Way
THE ADVANCE IN COTTON

New York, February 9-R. c. Dun & Co.'S weekly review of trade will say to- morrow:
 The industries are still surpassing in ac- tual output the work of any previous year Their new business is not correspendingly large, nor could such orders be accepted by most inrustries If offered, but enough are coming to prevent stoppage of works or much decline in prices. In wooden goods new business of remarkable volume sus- tains marked advance in prices and in other lines of importance, as in machinery, orders indicate a surprising roregn demand. Meanwhile though encouraged by iale abun- dance and ease of money, speculation does not in any direction as yet go without check far enough to do mischief. There Is much of the speculative spirit abroad, but also more caution than is usually shown after year of exceptional prosperity. Per haps the war in Africa, wjah its posstoeH- ties of daily surprise is in baat respect pro ductive of good.
 Cotton followed .ts rise from to SA cents last week by further rise to S55 cents, with growing belief that 'ahe crop will prove short enough and the consumption large enough to give holders quite their own way. The uSSIedSe icCS4Plo III SohuoiJ was 253 ,OOO bales or 20 per cent but in De- cember the decrease was more than 90 per cent. Tue exports in January were smaller than last year by 370OOO bales, over 30 per cent, and Ellison's report of 566,000 bales in European mill stocks January 1 with visible stocks of American cotton 3,3S6,752 bales February l. show that good part of the years needs is already provided for. But it is reasoned that if visible and in visible stocks should be reduced below 1,S00, 900 bales at the end of the year, as they were in 1897 prices would range be- tween and Sl4 cents, as in that year they did from February l to September 1, with a great crop coming.
 The manufacturers have already been somewhat embarrassed by the compara- lively narrow demand since prices of goods were materially increased by the rise this week that has started further advance in some grades and will ultimately lessen con sumption to some extent
 No change of consequence yet appears in prices of wool, though the emand from spinners is limited and it is perceived that they had previously supplied themselves quite fully for the heavyweight season for wliolh they have taken very large orders 1t is thought by some that enforced sales of foreign wool, w'lich was withdrawn from the London sale in January in order to prevent greater decline may thereafter affect this market.
 1le weekly output of pig iron February 1 was 29S0l4 tons, but stocks unsold rose 2O390 tons in January, indicating a con sumption slightly smaller than the output when the month began. As the consuming work was naturally stopped about the holl- days around the furnaces the figures proved Ettle, but Bessemer and grey forge and PittSburg have not cnanged in price during the past week, and slightly lower offerings of pig iron by southern and other new furnaces at Chicago and eastern mar kets have had little effect. 1t is more sig nificant than the decline of prices for some weeks in bars plates and sheets has been checked. Large orders have been taken for these and other products indicating that the works are in need of these and have been for some time.
 The price of hemlock sole has been re- duced half a cent, and of split and some upper leather and the boot and she manup facturers are net yet inclined to buy largely as they are getting but a small part of the contracts they nee this season. Jobbers still hold back as far as they can and the slow yieldwing in hides at Chicago in- creases expectation that leather may fur ther decline. But though buying is very small. the works are producing and deliver ing more than ever before Last year the deliveries from Boston were 34 per cent larger than fin 1890, but this year their busi- ness have been 19 per cent larger than last year.
 Failures for the week were 254 against 214 last year and B in Canada against 25 last year.