Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1899-08-22
HAS NO STEEL.
Ship Builders Short Of Mater
ial to Garry Out Contracts.
THE TRADE is BOOMING.
Dun'sand Rradstreet's Weekly Reports
Show Continued Increase-Pay-
ments Through Clearing
Houses are Large.

4 AhVubCD are AldFRSs
New York, Aug. 19.-"The Cramps
have discharged many hundred hands,
and ask Russia to extend the time for
the completion of the two war ships
because they cannot. get the steel.
Completion of twenty-one ont of thir-
ty-seven vessels building in the Della
ware is also affected. 1t is a curious
experience for this country, but shows
the gigantic expansion of home de-
mand.
No one can question the fact that
payments through the principal clear
ing houses have been in August $50
per cent larger than in 1897 for the
month thus far, and outside New
York $50 per cent. No better test of
the volume of business is known, but
there is a growing handicap in the adj
vance of prices. How long and how
far this advance can go without reac-
tion is the problem which. level-headed
business men are studying. Evidences
OF checked consumption are rare, but
| it would be childish to hope that at
some point higher prices would not
hinder buying"
Fall In she Price of Cotton.
R. g. Dun & Co.'s Weekly Review of
Trade, issued today, after citing the
foregoing facts showing present bust
ness conditions in the United States,
will continue:
In iron the question is of steel bill
let's, which, the great consuming COM
panies have bought far in advance, so
that all new orders have a narrow mar
ket. For six months billets have sold
at 81 to Sc higher than the rails made
from them. Other demands, not COW
cred by contracts, are mainly for vari-
Gus shapes and sizes only prescribed in
contracts. While prices have risen 25
cents for southern pig iron, SO cents
for Chicago local coke and rs cents for
gray forge at Pittsburp. rails have adj
vanced 81 pei. ton, with work covered
Tor all this year, and 100000 tons or
more taken beyond what can be delivl
cred until next year. Other finished
products do not change, although the
demand at all points exceeds present
capacity. Copper is steady at 1914
cents for lake, with production for Jul
ly 2l333 tons domestic and 1890 tons
foreign. Tin is lower at 3O% cents,
| and lead weakens on the stoppage of
the shelters strike.
Cotton rose week ago to $50 cents,
but has fallen to 6.19, Mr.. Neill having
estimated the coming yield at II ,250.-
| 900 to 12.000,000 bales. Official and
other estimates are all much smaller,
but the man who judged rightly a
year ago has the floor. Consumption
here and abroad has been very large,
and prices of goods are rising while
cotton falls. Stocks carried over must
| also be large, but will be less than
present returns indicate.
Advance In Wheat.
For wool, Coates circular for Aug.
still holds good, although inside quo
| tations are more often made. Sales
for three weeks have been 2S,390, 900
pounds, against 13,996,5o last year, 49,
530,305 in 1897 and 23,365,4OO in the
same weeks of 1892. Goods have adj
vanced farther, especially in cassi-
meres, cheviots and cotton warp cash
meres, and the tendency is upward in
nearly all grades.
| Wheat has advanced about cent
during the week, with Atlantic exports
only 2,363,302 bushels, -four included,
against 3,059,3s0 last year, and Pacific
exports 951,329 bushels, against 49,
400 last year. Western receipts have
been only 3,212,117 bushels, against
3,369,229 last year. 1t is question
whether the smaller receipts are due
to recent changes in crop prospects,
| giving holders of grain a better out
look. Exports of wheat in three weeks
have been from both coasts, flour in
Guided, 9,973,764 bushels, against TO-
114,246 last year, and the western re-
| ceipts have been 1854 sos bushels,
against 9,o15,1s9 last year, but it is al
so significant that corn has risen three
| eighths of a cent, with receipts of g.
026,692, bushels for the week, against
3,514,162 last year, while the exports
have been 4,034,302 bushels, against
2,370,302 last year. The figures clear
ly do not indicate material decrease
in foreign demand on the whole, al
though for wheat it's somewhat
smaller than appeared IN July.
Failures for the week have been in
the United States 1856, against 1854 last
year, and in Canada twenty-four,
against seventeen last year.
Rradstreers View.
Bradstreet's today say:
The trade situation gathers strength
as summer wanes. Reports of ex-
panding fall demand arrive, accompa-
MED by very cheerful advices as to the
outlook in most parts of the country.
In manufacturing lines production APP
pears to be at a maximum, and the
price situation retains most of its old
strength. Notable in the matter of
added strength are most of the cereals
and iron and steel in many forms.
Wheat, including flour, shipments
for the week aggregate 100000 bush
els, against 3,616,154 last week, $685.
34S in 1898, 5,sl6,sos in 1897, 2,ss1,-
July 1 this season the exports aggre-
gate 26,165,o65 bushels, against as,843,-
O76 last year and 21,433,346 in 1s97-9s.
Corn exports for the week aggregate
5,531, 4O5 bushels, against 5,950,361 last
week, 3,196,021 II year ago, 1929, OBS in
1897 g. 769 6O1 in 1Sq6 and 4 10s oao IL,