Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-01-16
THE YEAR BEGINS WE'LL.
Purchasing Power and Consump-
tive Demand Remain Strong.

New York, Jan. 13.-"The business
OF the new year begins we'll, tho there
is still much of the usual hesitation. In
branches where last years business
was extraordinary and prices have ris-
en- greatly some pause is natural, tho
nothing indicates decrease OF consum-
ing disposition or purchasing power,
but there is a continuing rise in wages
to promote increase.
Monetary conditions have grown
easier with the return of S4,OoO,O00
from the interior during the week and
further deposits by the treasury, and
more liquidation in some speculative
stocks has also helped. Banks report
an increase in their per cent of com
mercial loans and rates were generally
more easy after the decline announced
by European banks.
After thus generalizing on present
business conditions in the United Stat
es, r. Vi. Dun & Co.'S Weekly Review Of
Trade, enters into particulars as fol.
lows:
The furnaces in blast January 1 were
producing weekly 294,1s6 tons of pig
iron, against 2s6,e5s Dec. /, but as
several had stopped only for the hol-
days and Others had started, the out
put now is probably larger than at
either date. It exceeds consumption
at last, as the Iron Age shows an in
crease of 1886 tons in unsold stocks.
but the manufacturers apparently
consumed during the year 1881 .6s6
tons, less small net exports in Deem
Der. The increase since 1892 is about
4,S25,ooo. OF 46.5 per cent. Prices
change hardly any, nor is new business
significant, The minor metals are
strong in tone, but as yet without
much change in prices.
Textile manufacturers are more fully
employed than for long time, tho
scarcity of water has troubled some
cotton mills. Trading is embarrassed
by uncertainty about prices. Wool is
not active, nor are spectators or man
ufacturers in haste to buy at current
prices, tho the goods market shows
some advances for the next season.
with excellent trade thus far. The eft
feet upon the seasons sales cannot yet
be judged. Cotton goods have been
quiet and no longer advance in prices,
as the market for the material is uncer-
tain in tone.s
The boot and shoe manufacturer
has similar difficulty, for, while
shipments are heavier than ever before
at this season-in two weeks 179,376
cases, against 14s,174 last year, and
171,751 in 1864 the rapid distribu-
tion to consumers causes most urgent
calls for goods previously ordered, vet
dealers are slow to order more in fear
shat prices VIII not hold. Manufactur-
ers insist that still further advances
are needed to cover the cost of leather.
The Chicago market for hides is weak
er, with lower average than at any
time since November i.
Cotton moves 30 slowly that belief
in very small crop is constantly
strengthened, but foreign demands are
much reduced also. On January only
5000, e31 bales had come into sight,
against s,o01,916 last year, but exports
had decreased 1,725, 1000 bales and Eu-
ropean stocks were far below last
years. For the present foreigners are
using up old stocks instead of buying
more, and the price hesitates.
wheat mas Deen SLOW TO move also,
Atlantic exports in two weeks having
been only 4,376,514 bushels, flour in
cluded, against 9.452, 106 last year, and
Pacific 1,a1e,993, against 1,5s4,o51
last wear. The prices close a fraction
higher.
Corn receipts have also fallen below
last years, tho exports two weeks
shave been 1885,, 1858 bushp against T.
1928 last year, and prices have adj
vanted about half q cent. ss.
Failures for the week have been 274
in the United States, against 31s last
year, and twenty-five in Canada,
against twentyfour last year.
Weekly Bank Statement.
New York, Jan. 1a.-(By Associated
Press The weekly bank statement
follows: Surplus reserve, increase 3d.
949,625; loans, decr4ase 1883 300;
deposits, increase 1894 300. The banks
now hold 16,707, 1850 in excess of legal
requirements.