The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-06-09
STILL FALLING.
Decline in Price Continues All Along
the Line.

New York, June 9.-R. G. Dun & Co. g
Weekly Review of Trade says:
The adjournment of congress after 4
successful session, the progress towards
peace in South Africa and the rapid ad-
justment in prices here to more natural
level tend to bring near the day of
greater activity.
But that progress has not been rapid,
and the yielding of prices affects many
as a reaction, cutting off part of the
profits supposed to have been secured
The impression grows, also, that no ex-
tensive changes in business are now
probable until after the presidential
election and the possibility of trouble in
China has at least as definite an infiu-
ence on American affairs as any change
in South Africa The condition of Ia
Dor 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 appre-
hension.
1t is but few days since a prominent
master overwhelmed doubts and Ques-
tons by the positive declaration that
decline in the price of iron this year is
simply impossible. Yet anthracite No
has declined S4.25 per ton and this
week the Bessemer association has re-
duced it's price at Pittsburg 81. 80 per ton
and the southern makers 81 per ton The
decline in ratio of prices of pig iron
from 1927 in January to 93.6 this week
and in the finished products from eS.O5
to SO.O1, does not in fact show the entire
change, as the steel and wire companies
guarantee of prices in case Of further
reduction respecting products not then
shipped is in effect a concession
A few large contracts are reported. but
the new business is so small that many
works are stopping or reducing force.
The minor metals and coke are weaker.
Petroleum has again been reduced to 7S5
cents, against $50 April 4. and rubber to
Sc cents against 81 % in March. Silk and
hemp are both lower.
Wool has not declined further, but IS
weak and in small demand, many of the
mills having inadequate orders for goods.
Still more important is the fall in cotton
to S.Sl cents, against 9-S1 a month ago,
which is also due in part to restricted de-
mand for goods at the advanced prices
asked The statement often made that
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 packer hides at Chicago and dry
hides here, and the decline In this import
| ant material has been over 20 per cent
/ while IN leather It has not averaged PEI
| cent. The boot and shoe manufacturers
| maintain that they can not accept lower
prices than those they have asked until
! leather yields much more and the closing
! of many works indicates that the en-
/ barrassment is serious
1 The rise of ~ cents in white. attributed
to injuries threatening a short movement
next fall. affected stocks also somewhat t.
Exports do not materially change. having
/ been for the first week Of June from At
/ lantic ports, including four 2.S55250.
/ against 1849,373 last year. from Pacific
! ports So. OILS bushels against 623. 400 last
| 2s04, 500 bushels last year. Receipts OF
/ both grains have fallen considerably be-
1 low those of last year, though not a-@-et
enough to Indicate a sense of scarcity in
/ interior supplies
Failures for the week have been POS in
/ the United States against 159 last year
/ and 19 in Canada, against 10 last year