Omaha daily bee., 1896-03-21
HAVE OVERSOLD THE MARKET
Busin.ss Still Feels the Effect Of Last
Years Boom,
GENERAL TENDENCY NOT ENCOURAGING
WOODEN and Cotton Goods Both De-
cline with Raw Material Higher
Than n Year Ago-whent
and Corn Lower.

NEW YORK. March 2O.-R. c.. Dun &
Co.'S Weekly Review of Trade, which Is
sues tomorrow, will say: Movement toward
better things is still the exception. There
Is better business in shoes and small in
dustries and there has been a squeezing of
short sellers in cotton. But the general
tendency of industries and prices is not en-
couraging. and those who were most hope
full a month ago are still waiting, not SO
hopefully, for the expected recovery.
Causes of continued depression are not
wanting. Bad weather has cut off much
business, especially in country districts.
Some failures of consequence have caused
ness is that in many departments
men bought more and better product, when
prices were mounting and everybody was
rushing TO buy last year, than they have yet
been able to sell. That the buying was OF n
nature to anticipate actual consumption for
had more hope than observation. and went on
the same hopeful anticipation OF a demand.
which has not yet appeared.
The wooden mills, with prices already reduced
below last years lowest average, and wool So
per cent higher than 1t was then, are not get
ting. business enough to keep works in operation.
have failed to market all they produced last
fall, and they have to carry a host of retailers
were the smallest in any week for years. and
in three weeks Of March have been 9.697, 400
us VI WHICH ftIOl,OUV were uD1leSllC, against
lI,lO5,SI6 in the same weeks OF 1892. OF which
II, $50 36 We're domestic. The demand for
women's dress goods is stil quite fair.
\ sharp decline in the prices of cotton goods
Is the comment Of mills on rising cotton.
Goods now average lower than since May, 1895.
having declined AZ per cent for the week, print
cloths TO 212c, which Is only a sixteenth above
the lowest price on record. The accumula-
ton of goods in the face OF slack and rapidly
diminishing demand has brought the closing of
one of the largest mills, and others are CON
sidering.
The iron industry shows but n slight average
decline in prices, az combinations still insist
upon the highest prices of last year, and the
demand is naturally curtailed. Quotations are
deceptive, because lower prices are constantly
made to secure business, but with ore and coke
combinations demanding higher figures, hesita-
ton is Inevitable. Minor metals change lit
tie. but aluminium, by misprint quoted here e.
roneously last week, sells at soc.
Speculation in cotton has caught short sellers
in trouble, and just because they thought prices
must go lower. the shorts are forced to put them
up. Such a rise may go on without regard to
supplies or demand. but neither the government
report of last week. nor the fall in goods and
closing of mills give reason to expect more
than n speculative rise.
The market in wheat has been weak. though
rather stagnant. but the weight of facts is
felt, as western receipts for three weeks OF
March have been $500, 4Sl bu, against 1924. 92g
bu. last year. Atlantic exports, flour included,
for three weeks, against 5,097. 0lS last year. The
movement of corn continues very large, and
prices have declined Ic for cash.
Failures for the week were POI In the United
States. against 2S last year. and 40 in Canada,
against So last year.