The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1897-05-15
Likely to Precipitate a Rate War
Along Ali Lines.
The Unexpected Falling Off in the Re-
quest for Staple Goods Within
Month a Result of Period of Com
parative Calm at Time When a
General Revival i'm Demand Had
Been Looked For.

PITTSBURG, May 1.-THE dis
ruption of the steel beam pool, the last
vestige of combinations which has
held the powerful producers together. is
regarded by local brokers as likely to
precipitate a rate war along all lines,
such as exists at present in the rail
and billet branches of the business. The
dissolution of the rail pool lowered
prices from S2S to SIS per ton and the
disruption of the billet pool was follow
ed by a cut off from SD to 81 per ton.
1t Is thought a cut in the noOl price of
beams, etc, will only be a, natural Sc
quence and that the price will go below
i cent per pound.
The abrogation of the pooling ar
rangement and the present price list
will eventually prove of much benefit
to the small manufacturers, who were
unable to compete against the combin-
ed forces of the pool. They will now
have an equal show with competitors,
and may secure orders that would start
mills now idle.
In view of the fact that the structur-
al iron trade is in a prosperous condi-
ton at the present time, and improv-
ing right along, a general scramble for
orders will more than likely occur
within the next few weeks.
NEW YORK, May 14.-Bradstreet's
tomorrow win say: The unexpected
falling off in the request for staple
goods within a month is the result of
period of comparative calm at a time
when a general revival in demand has
been looked for. Wholesalers report
that the volume of business consists of
filling orders, even Chicago not claiming
more than to have held it's own in
volume of goods distributed. Interior
merchants continue to buy for nearby
wants only, and IN many districts
farmers are too busy with field work to
supply their wants at the country
stores.
Grocers report an unusually large
distribution of canned goods West and
Southwest, and the extreme depression
in pig iron prices is followed by large
Western purchases. Wholesale dealers
announce an increased demand for
groceries and hardware at Duluth, st.
Paul, Minneapolis, Kansas City and
Memphis.
Exports of wheat, flour included as
wheat, from both coasts of the United
States and Montreal this week amount
to 2,1S3, 175 bushels, as compared with
1873. 900 last week, 1908, 600 in the
same week a year ago, and 1887 900
in the same week two years ago, 2,240,-
600 three years ago, and as contrasted
with $3.50, 900 in the like week of 1898.
Exports of Indian corn amount to
3,096000 bushels compared with 3, 1917
600 last week, 1868, 900 in the week a
year ago, 1,210,000 in the week two
years ago. 1,111,00 three years ago,
and as compared with 1.247 900 in the
corresponding week Of 1892.
There are 251 business failures re-
ported throughout the United States
this week, compared with 220 last
week, 265 in the corresponding week
a year ago and 30 two years ago, 1876
three years ago and 255 four years ago.
There are 81 failures reported from
Canada this week. against 80 last week,
81 in the week year ago, % two years
ago, and as contrasted with % in the
like week three years ago.
NEW YORK. May 14.-R. G.. Dun &
Co.'S Weekly Review of Trade" to-
morrow will say:
Spectators have enjoyed an advance
in wheat, corn, cotton and some other
products, though obliged to sell woods
and sugar at lower figures in order to
realize. Stocks have advanced cents
per 500, and trust stock lost SO cents,
without enough demand to constitute a
market.
Imports Of merchandise, SIS, 3S2, 01S
for the week at New York alone, are
"a per cent. larger than a year ago.
making an increase of Al per cent. for
the past week, and have affected the
exchange markets and helped further
shipments Of gold, which amount for
the week to s., 100, 900, but are prac-
tically balanced by receipts from the
interior and cause no serious appre-
hension of financial disturbance. Men
feel that present conditions are only
temporary. although they tend to pre-
vent permanent Improvement in trade
and stop immediate investment
The winter wheat crop, which is sup
posed 10 indicate a yield of 297, GOO. 600
bushels, is contrasted with State re-
ports much better or much worse but
Is distrusted mainly because all depart
ment estimates of acreage for years
have been wildly erroneous.
The output Of pig-iron for the week
ending May 1st was 170,2S0 tons.
against 1732 19 for April LIST, and the
stocks unsold, exclusive of those held
by the great steel-making companies,
increased only $685. 900 tons. Several
furnaces, especially those producing
foundry iron, have stopped production
for this month, but no important
changes appear in pigiron, which is
quoted at IS - for gray forge at Pitts
burg, and 50 - for Bessemer and So
for No. l at New York, though only
$40 - is asked for Southern.