St. Paul daily globe., 1895-09-21
CHECK ON IRON.
Prices for Cotton Mill Products
Are Well Sustained.


NEW YORK, Sept 2O.-R. G. Dun &
Co.'S weekly review of trade will say
tomorrow. I'm spite of the gold eX-
ports, wheat advanced for some days,
in all nearly two cents, mainly be-
cause single speculator bought, but
on Friday fell about one cent. Corn
rose and fell In sympathy with wheat,
with as little reason. Western wheat
receipts for three weeks of September
have been 6,791 $50 bu, against 16, ,491, ,629
last year, while Atlantic exports, flour
included, have been 3,941, ,693 bu. against
1921, 1856 last year. Good reports of for
eign crops. weakness of flour in Min
nesota and large exports of corn from
this country. all work against a rise
in wheat, though scarcity of contract
grades may help speculative ad-
vance. Pork products have been reas-
onably yielding, with prospects of
large corn crop, but before the close
had a stronger tone The cotton mar
ket, lifting and falling a fraction each
day alternately, shows no settled ten
dency, big stocks balancing an un-
doubted but as yet not definite decrease
in yield.
1.-The surprising increase In produc-
ton and advance in prices of iron
seem to be bringing a natural check,
as prices have gone so high as to cause
some purchases from Europe, both of
pig and finished products, and have
also caused a distinct shrinkage in
home demand. Pig bought at Middles-
boro for America. and foreign ore or
dered in large quantities to make iron
| in Eastern furnaces, have depressed
Bessemer at Pittsburg to $3.50, though
| gray forge is higher at $13.40. Lake
| ore and freights have advanced, and
| the beginning of a strike of Connells-
vile coke workers will tend to prevent
| reduction in prices, unless soon stopped
| by concession of the II per cent ad-
vance in wages demanded. While the
| coke production is very large, and
| contracts for the year are made at
| $1.90 for furnace coke, which sold early
this year below 81 per ton, it is be-
lieved that higher wages can be paid
| without affecting the market for fin
ished products, which have advanced
still more. Refined bar is quoted at
$1.45 and tank steel at &c at
Philadelphia, and the combination has
raised cut nails &c, so that the average
Of all iron products has risen 5R per
cent In September and 5319 per cent
since the lowest point last January,
and Is now higher than in October,
1892 Nearly all mills in operation have
orders enough for some months, though
a present decrease in demand is ad-
mitted.
Leather has further advanced in
some qualities, though the rise Of 81
per cent for the first half of the year
on sixteen qualities has been followed
by only per cent rise since July 1, aAd
this week a break has occurred of &c
in Union crop. Hides are 8 per cent
lower than July. The cotton mills
which laid in cotton stocks below &c
are enriched by the advance in materi-
| al, and enabled to- make frequent adj
| vances in goods, which are sustained.
| The present demand is dull, but there
| are no reports of stoppages, and the
! threatened strike at Fall River does
| not come. The woolen manufacture is
doing we'll in dress goods and hosiery,
| but the demand for mems woolens is
| much restricted, and few mills have
| closed. Sales Of wool are smaller than
| last year, and for three weeks only
| H. ,133, 470 pounds, of which 7,71S,376 were
| foreign, against PASTE, 400 pounds in
| 1892, of which 7,614,000 were foreign.
Prices of foreign wool are so low that
| purchases for export have been made.
The failures this week have been 213
| in the United States, against 210 last
year, and 80 ia Canada, against Ae last
year.