The Forest Republican. [volume] (Tionesta, Pa.) 1869-1952, 1900-02-28
PRICES ARE YIELDING.
Dun's Review says II May BE bad For
the Spectators, but Good For
the Country.

New YORK, Feb. 24.-R. G. Dun &
Co.'S weekly review of trade issued to-
day said in part:
Prices in materials are yielding. If
not the best news possible for some
spectators, it is the best that could
come for the country, since industr1als
could not long prosper without reaction
from the extreme prices caused by act
ual or supposed scarcity of materials
last year. Some help comes from new
iron furnaces that have opened or APP
prOach compilations; some from the fam
inc in India, which sends hither ship
loads of hides; some from the much in
creased 1ocks of sheep which have
weathered the winter and some from the
opening of new iron, zinc and copper
mines. The causes are many, but the
revision of quotations gives promise OF
greater activity in all the chief indus
tries.
The great iron industry has bI en- EN-
barrassed by prices for pig and billets,
which We're no longer sustained by the
gradually yielding prices OF products.
Considerable transactions are now re.
ported at Philadelphia $l.00 to S1.50 per
ton below recent quotations; at Pitts
barg, 10000 tons Bessemer have been
sold and $4,000 tons billets, both iron
and steel, being reported $l.00 per ton
lower. The new furnaces supplying
foundry iron have been competing
sharply at the east, and small sales of
Bessemer have been made for Pittsburg
delivery at 40 to 90 cents below previous
quotations.
Sheets are strengthened there by the
new combinations, though it does not
embrace some large works, but with
this addition of 100000 tons yearly and
its sales to the hoop and tinplate COM
panies, tine National Steel has secured
large and rich mines i'll Minnesota,
Plates are still weak as most consum-
ers are provided far ahead, but the Pa
cific orders covers 1000 tons, and the
Chicago and Northwestern has placed
orders to the east for S., 800 tons bridge
work. Rail mills are full, but have
taken a small contract for export, and
better business enables tinplate works
which have been idle to resume.
AT last it is admitted that the wool
quotations so long held are fully cents
per secured pound higher than prices i'll
large actual sales last week, and since,
the decline covering grades between
one-quarter blood and lower, which is in
demand and scarce, and fine fleece
graded XX and above. The eXplana.
tions are many; the fact is that when
mills made enormous sales of heavy
weight goods, and then bought no wool
the fable that their stocks were eX
haused ceased to have force In fine
medium territory selling at 5S cents
secured, and other wool down to the
low grades, the fall is general, and Eng.
lish markets are also weaker Goods OF
fine grades have been opened with much
less advance in price than was made III
cheaper grades, but cancellations con.
tinue numerous.
Failures i'll three weeks have been 81,
241, ,230, against 81, 1919, $50 last year, and
S7,293, ,439 in 1898, but i'll the previous
years they exceeded $40, 100000. Manu-
featuring were S2,S56, ,536, against $3,.
643, 1854 last year, and trading We're 3d.,
S22,9 ,930 against S3,237,472 last year.
Failures for the last week have been in
the United States POL, against 19l last
year, and 33 in Canada against 40 last
year.