Show i itIiiiouND BASIl Legitimate Business NotAf fected by Panic i GENERAL CONDITION GOOD Throughout the Country Matters Were Never So Soundas at Present Rsports From Every City Show an Exceptional Volume of Transactions Transac-tions and Payments Promptly Met Production Is Not Overtaking Demand at the Finished Steel Mills Cereal Market Less Sensational New York May 10fl G Pun Cos Weekly Review of Trade tomorrow will say A panic In AVall street docs not infnn Hint I lfrH linn tn Kiieli nui IIMI I unl denly ceased to prosper nor Is the condition condi-tion of mcrcanlllo trade and manufacture adversely affected by a violent fall In prices of securities Throughout the entire en-tire country fundamental conditions were never so sound as at lie present time reports i from nearly every city this week showing an exceptional volumo of trans actions and payments promptly met Production la not overtaking demand at the finished steel mills and all PiUs budg plants arc two months behind or ders while ninety days Is tho limit at many Although the expected advance In bar Iron did not appear the tone con tinues llrm and orders aro liberal Bil lots remain at the top point for prompt delivery but reasonable terms nro availa ble on forward contract In structural shapes tnd nllway equipment there Is all the business in sight that makers dc flrc and no ffloi t Is made to secure ad ditional orders Less urgency Is record ed In pigiron markets but buyers do not ind terms more satisfactory and in fact forgo and foundry Iron Is rather moro llrmly held Although the I total number of furnaces In blast on May 1st was forty smnllor than on February 1 JMO the Irou Ago estimates the weekly capacity at jOil25 tons which exceeds all previous highwater marks The activity of steel manufacturing Is emphasized bv tho de crease of 3li23 tons In furnace stocks during April despite the unparalleled jnoductlon Less sensational events transpired In the cereal markets than In the preceding week although notations arc slow to recede Corn eased off a few cents but I Is still about 10 cents a bushel or nearly j 1 9 n P h I corresponding date In tho two preceding years Western operators continue to en tcrtaln strong views and appear little daunted l by the larger receipts attracted to t Interior cities by the unusually prollta blo 1 prices offered For the week arrivals aggregated VtTCttl bushels against 2 Ii2fl2 bushels last year Foreign pur j ehasors < have been driven out of tim do I i mestlc markets by the high quotations and Atlantic exports for the week have been 1211244 bushels compared with 3 O9ssO bushels a year ago Shipments of boots and shoes from Boston rose to An unusual point aggre gating 10332S cases for the week against 7P371 cases In the previous week and GS 151 In the corresponding period last year Thp total movement since January 1st is now but 300CO casca below 1000 to date amid far above any other year The situation Is similar regarding wool and woolens Raw material Is abundant and a largo clip probable while manu facturers nave only a largo demand for goods Failures for the week numbered 1ST In the United Stales against 192 last year nrd 20 In Canada against 15last year |