Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-04-06
HAS LITTLE EFFECT.
Passage of Tariff Bill, by the HOUSE
Does Not Disturb Business.
LITTLE IMPROVEMENT is REPORTED.
Produce Market Has Been Uncertain
-Tnrin Decision Acts Badly on
Iron and Steel Industry-
Failure Record.

New York, April 3.-R. G. Dun g. Co,
In their weekly review of trade, say:
1.-THE vote of the house in favor of new
tariff bill has made no Impression in bust
hess since 1t has been expected since No
venlber that some measure of the Same
general character would become n law. If
the bill stands, with Its provision making
new duties applicable April l, the chances
are that foreign imports and treasury re-
ceipts may be for a time considerably re-
stricted.
1.-THE markets are still waiting some
Bagging downward and others recovering.
There is much disposition to use the de-
cision OF the supreme court against rail-
road combinations as an instrument for
depressing stocks, and yet the buying has
prevented a decline exceeding 81 pei share,
and for trust stocks 20 cents per share.
The reports Of railroad earnings for the
quarter havo been somewhat encouraging,
the aggregate having been on roads with
In the United States only 30 per cent.
smaller than last year, and the March re-
turns have been rather more favorable
than those for January or February.
THE market for products has been va
riable and uncertain. Wheat closes q cent
lower than last week, and the May option
has declined cents. The movement of
corn continues so large as to materially af-
feet the demand for wheat. Current trade
SSllIldlSb LS6dldlS lllS wllettl CIOP dAS
little more favorable and are some
what more likely to prove reliable, as
the advance of the season makes the
condition of growing wheat better known.
Cotton has not changed in price, although
the floods in the southwest have doubtless
done much harm. The cotton and other
textile manufacturers are slowly gaining
in business. though print cloths and most
staple cottons remain unchanged in prices,
and restriction of output seems to have
given some relief to the market. The buy
Ing of wool by mills is still noteworthy
feature. being far in excess Of current con-
sumption, but there is a much greater vol.
ume of transactions between dealers.
1.-The iron and steel industry has been
staggered, SO to speak, by the decision OF
the supreme court affecting railroads, since
1t Is apprehended that purchases not only
of rails, but of cars. locomotives and
bridge materials may be affected. The
demand for rails Is considerable, and the
order is pending for 10000 tons for Japan.
but the reduction In Mesaba ore, with the
want of agreement as yet among producers
Of hard ores. tends to encourage the belief
in lower prices for finished products, and so
to hinder buying. The great struggle be-
tween the ore-producing companies OF
Mesaba has not yet SO far developed that
anybody can feel confident as to the
future cost Of iron. Meanwhile. with pig
accommodating, although some furnaces
have stopped production, the price Of
Bessemer at Pittsburgh is shade lower al
$1O25, and gray forge at 50. but there are
no quotable changes in prices of finished
products, although the tone is rather
weak The new combination in cut nails
only affects selling prices in eastern mar
kets.
Failures reported for the first quarter
of 1897 number 1892, against 4,031 last year
with liabilities of $4s.OO7.s1 against $751;