The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1901-07-18
The Week in Business.


course, with all the leading industries
well employed and with confidence ex-
pressed on every hand. Bountiful
crops of wheat seem assured, and the
damage to corn, while considerable In
some directions, does not promise to
be sufficiently general or serious to at
all impede the progress Of the country.
Labor troubles are in process OF settle.
ment, and spectators have been re.
sponslble for most Of the unrest which
has been reflected IN the markets.
Steel mills are actively employed,
and there is distinct improvement in
the demand for finished products,
while quotations are without alteration.
In bars for use by makers Of
agricultural implements there is C. brisk
movement, plates are taken readily,
aud there is no sign of diminished
purchasing in structural material.
Rails are ordered freely, with notable
pressure for trolley and other light
weights.
Textile lines have settled in steady
position that promises more last.
ing prosperity than if prices had been
forced higher or sensational activity
had followed the altered attitude oI
buyers. In jobbing circles it is thought
that trade will not be prosecuted Wig
orously until August, but statesmen on
the road send in good orders. Heavy
weight woolens are securing duplicate
orders and mills are making extensive
preparation for the light weight seas
on. Manufacturers are well employ
ed and exhibit increasing interest In
raw material. Wool mas not altered
IN price, but the tone is frmer and
sales increase. Growers are said to
be selling rather than consigning, while
many ranchmen retuse to do any busi-
ness at present prices. In the cotton
goods division there is nothing new,
recent advanced prices being fully sus-
tanned and mills keeping wheels IN
motion as rule. The raw material
has declined, large receipts of the old
crop and many bright dispatches from
the South having more effect than
stories of drouth in Texas.
Grain crops this season are occas.
ioning much uneasiness among specu-
lators owing to the extremely compli.
Gated situation. According to latest
official and unofficial representations
there is reason to anticipate the
heaviest wheat yield ever harvested,
and, making the customary allowance
for domestic consumption, even with
the small supplies on hand when the
year opened, there appears available
for export about SO per cent. more
than went abroad in the year of the
greatest shipments. Yet prices are
far above the low record, and vigor-
Gus rallies follow each decline. Ex-
tensive needs abroad continue, the
movement from Atlantic ports for the
week amounting to 3,2oS,634 bushels,
against 2,I9S,445 a year ago, and
western receipts were 4,579,37S bush
els, against I,6IS,677 last year. Corn
exhibited remarkable strength, drouth
and head since July Ist giving reason
to expect less than the official report,
which indicated more than two billion
bushels. This cereal is now at an ex-
ceptionally high point, and estimates
of 100000, 900 bushels for export are
too high, as foreigners will NOT buy
freely at the enhanced value.
The money market was easier, and
seemed to have lost the panicky tone
of recent weeks. Currency move
ments chiefly comprised shipments
from the West to cover loans here by
the interior banks. The New York
banks also gained moderately from the
Treasury. More banks seem to be
favorably disposed TO the sale of the
old short-term bonds to the Treasury
at the price of the new two per cent.
Foreign exchange ruled weaker on
the continued sales of commercial fut-
ures, and remitting demand was small.
Small gold exports were made to cover
special operations, and they were un-
warranted by the rates for exchange.
New York's foreign commerce took a
slightly more favorable turn. Stocks
were greatly excited owing to the crop
damage reports from the corn belt,
and disregarded the indications of a
record wheat crop. Declines were
severe, but heavy short interest
caused some fair rallies at the end
of the week.