The age-herald., 1900-06-09
DUN'S WEEKLY
 TRADE REVIEW Day of Activity Thought to be
 Nearer. DECREASE IN IRON PRICES An Eminent Iron Master Says a De- crease in Price of Iron Ties is
 Impossible, Yet Pig
 Has Declined
DECREASE IN IRON PRICES

But that progress has not been rapid and the yielding of prices affects many as reaction, cutting off part of the profits supposed to have been secured The i'm pression grows also that no extensive changes in business are now probable un- til after the presidential election and the possibility of trouble in China has at least as definite an influence on American af- fairs as any change in South Africa. The unsettled condition of labor controversies, moreover, operates strongly for the time to limit expansion of domestic business. Yet the volume of business is so large that a few months of waiting could not excite any apprehension.
 It is but a few days since an eminent iron master overwhelmed doubts and questions by the positive declaration that any decrease whatever in the price of iron ties was simply impossible. Yet, anthI a. cite No. l had declined $425 per ton, and this week the Bessemer association has re- duced its price at Pittsburg $i30 per ton, and the southern market $2 per ton. The decrease in ratio of prices of pig iron from 1127 in January to 93.6 this week and in the finished products from 9S.G5 to SO0l does not in fact show the entire change, as the steel and wire companys guarantee Of prices in case of further reduct.ol re- specting products not then shipped is in effect concession. A few large contracts are reported, but the new business is So small that many works are stopping or re- ducing force. The minor metals and coke are weaker. Petroleum has again been re- duced to 7.S9 cents against 9.90 on April 1, and rubber S6 cents, against $l.04 in March.
 SIX and hemp are both lower Wool has not decreased further, but is weak in small many Of the mills having adequate orders for goods. Still more important is the fall in cotton to S.S1 against 9S7 month ago, which is also due in part to restricted demand for goods at the advance price asked. The statement often made that the textile mills are running full time does not appear accurate; the production is heavy, but by no means full
 Hides have declined further this week, both particular hides at Chicago and dry hides here, and the decline in this important material has been over 20 per cent, while III leather 1t has not averaged per cent. The boot and shoe manufacturers maintain they can not accept lower prices than those they have asked until leather yields much more and the closing of many works indi- actes that the embarrassment is serious.
 The rise of 21ac in wheat attributed to injuries threatening short movement next fall, affected stocks also somewhat
 Exports do not materially change, having been for the first week of June from At lantc ports, including flour, 2,S55, 261 bush els against 1,S49,3l3 bushels last year; from Pacific ports, 591,015 bushels against 623, 400 bushels last year, and of corn 2,I93, 1869 bush els against 2,S04,9O9 bushels last year.
 Receipts of both grains have fallen con- slderably below those of last year, though as yet not enough to indicate a sense of scarcity in supplies.
 Failures for the week have been 206 in the United States against 159 last year, and 13 in Canada against 10 last year.
 8SADSrRnEr, REVIEW
 New York, June S.-Bradstreet's tomor- row will say:
 New business at wholesale is of a be- tween-season character, but warmer wealth. CT has offered a stimulus to retail busi- ness in some sections. Chief activity and most attention is, however, still concen- trated on the price situation and efforts to readJust quotations to meet current de- mand and supply conditions go forward steadily. The only exception to the gen eral downward trend of prices is that fur nished in leading farm products, notably cereals, but here the moving cause is hard ly favorable one, being the result of less satisfactory crop reports.
 Corn crop conditions remain favorable as likewise do those of oats but these grains and hog products have sympathized In the upward movement of wheat which mas at last broken from it's lethargy and is again attracting speculative attention.
 The German rye crop promises to be very short; the same report comes regarding French wheat and English crop advices are not of the best. If, as has been claim ed, lower prices for iron favor an increas- ed consumption current developments in this trade may be classed as favorable be- cause concessions are being steadily made in nearly every branch of trade The price Of Bessemer pig and steel billets for the last half of 1900 has been agreed upon. the result being a decrease of 16 per cent. in pig iron and of 20 per cent. in billets from the old nominal quotations which, how ever, have not been closely adhered to of late. Southern iron advices are of shading in quotations, in sympathy with similar action taken at Pittsburg, Chicago and other iron markets Prices at Birmingham are now on parity with those of Europe for the charges considered, and here as in the north possibility of labor troubles intrudes itself.
 Cotton is slightly weaker on reports of increased acreage, but the crop is late and adyices this week are of an excess of rain in the Mississippi valley and Texas Cot ton goods are dull. Wool is dull, and on the whole slightly weaker at eastern mar kets. Mems wear goods recorders are of fair volume while mills engaged in wo- mems wear goods are fairly we'll employ ed. The outlook favors lower prices for the new spring weights. Little that is new comes from the show business. Price shading is reported the rule in lumber, and this, coupled with low water in the northwest will, it Is hoped, restrict new production.
 Surplus visible supplies are decreasing rapidly, lending interest to current un- favorable crop reports. The decrease in American stocks, as reported to Brad streets in May was 1880, 900 bushels, against falling off of 9,0330O0 bushels in April. Supplies in Europe Australia and Argentina also decreased, though to a much less marked extent, as the result is an aggregate would supply on June 1 of 13,5SS,0OO bushels a supply of 15665, 900 bushels less than on May l. and compar- tho wi in Mox of