The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1897-02-20
Disruption Of the Steel Rail Pool MIST I'm.
poEta1t Eyent.
PRINT CLOTHS GO up TO 2.69
Western Receipts or Wheat are In-
creaslng-The Price Of Cotton De-
clined Only All Eighth for Spot Cot-
ton Market Depressed.

II. T. Dun L. Cos. weekly review OF
! trade says: No other event of the
week approaches in importance the dis
ruption of the steel rail pool. In two
days after it greater tonnage OF rails
was probably purchased than the en-
tire production last year, reported as
500, 900 tons, and instead of ut 1928 in
December and $25 in January. SIT is
now the price at which works East and
West arc seeking orders. The Carne-
gle Go. are even selling at SIT Chica.
60 delivery. These sales will employ
many thousand hands with Al import
ant Increase i'll the cost of track laying
or renewals to railroads. Even more
Important is the result that recon-
struction of the billet pool will be i'm
possible as long as the contest over
rails continues and the manufactures
of structural forms, bars, rods, nails
wire, tin plates and many other prod
ucts has chance to secure cheap ma.
terial In the near future. Also i'm
portant is the struggle between the
two great companies producing Mesaba
iron ore. one allied with the Illinois
steel and the other with the Carnegie
Company, which is expected to bring
about lower prices for ore, and push
many mines to their utmost capacity.
But In the war Of rival interests wages
are already reduced by some large
concerns. Another event of influence
Is the purchase Of 100000 pieces of
print cloth by NJ. c. d. Borden. at
25C cents which has already caused an
advance to 2.G9 cents with a stronger
tone TOR prints and other cotton goods.
The moral effect OF such purchase
men;festing confidence in the future is
apt to be great. AS the contract to
shut down part time navy mills pro.
ducing print cloths is going into effect,
the productive capacity and wages OF
operatives will be for time reduced.
but if demand Of traders to replcn.
ish stocks is started the effect may be
altogether beneficial. The WOODEN in
dustry also meets an increased demand
for low and medium goods, and a doz-
en- more mills have started against
three stopping for various reasons.
Clay mixtures are reduced to rs
cents with other prices maintained
Except in steel rails changes in iron
products have been slight advances in
gray forge wire and cut nails. Com
petition reduces American cut nails to
So. 20 against $500 for foreign; tin and
copper are steady, but lead stronger at
3.27.. Speculation in products has
hardly beer more active than of late,
and prices generally tend downward.
Wheat rose cent on Tuesday, but
has since declined 2.37 cents. Western
receipts ere increasing but for two
weeks have been only 3,19l 1895 bush
Els against 5,s23,213 lust year; while !
Atlanta exports flour incluled) have
oeen for the week about q quarter
arger than last year, and for two
weeks 1856, 096, against 3, e3S, 1875 last
year. About every week some new
'peculative guess by somebody il .
presses many traders more than tie
current records of actual movement.
The cotton market has been depress.
I'd in like manner by Mr.. Alliston's es-
innate that the American crop would
prove S,C50,000 bales, but the guam
ity coming into sight has also sur
passed previous guesses and indicates q ]
anger crop than other spectators
ave estimated. The curtailment of
consumption in the mills is not
'uess, although some over-estimate it,
ince probably not more than fifth of
he spindles will be stopped, third Of
ach week for quarter of the year,
he price declined only an eighth for
pot, but over quarter for the May
ptions.
Failures for the past week have been
81 in the United States against 321
'st year, end 81 in Canada against 81
ct year.