Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-01-09
Traders Have Done Little New
Business in 1900.
ALL PRICES ARE STIFF
Steel and Wire Company Advances the
Rates-Failures of 1899 Were 1888
In Number, Totaling s123,132.-
679-Reyiexys of Trade

New York, Jan. 6.-"Failures in
| $780," says r. G. Dun & Co.'S Weekly
| Review of Trade, 'were 1898 in num-
| Der, with liabilities of $123, 1872, $40. The
last days of the year added few to
| the number and some millions to the
| known liabilities of firms and banks
which failed close to the end, so that
commercial defaults reached $9O,s79,-
| 800, of which 30,792, 164 were in manu-
featuring, $4S,924,771 in trading, and
11,162,954 in brokerage, promoting
and other liabilities. Most people in
business have been so, occupied with the
accounts and settlements of the past
year that little new business has yet
been done. No new tendency in manu-
facture or in trading appears, and less
change than was anticipated in money
markets" The review continues:
There is nothing unsound in the
business Of the great industries, but
an extensive revision of prices may dis
appoint extreme expectations. Two
ways of stimulating business are
adopted. The Iron Age notices trans
actions of magnitude in foundry iron
which indicate that some sellers are
willing to make concessions to secure
the trade of good customers
Steel aud Wire Lifts Prices.
But the Steel and Wire company has
advanced prices of wire nails and
barhed and smooth Wire % cents. Bes-
semer pig is not higher than it was
six weeks ago, and steel plates have
declined from $50 TO 1928 at Phila-
'delphia, bars at Pittsburg from $225
to $2.15 and sheets from 1915 to s.. so,
while the structural and rail producers
have held but refused to advance their
Eprices. Some new business is report
ed, but not enough as yet to indicate
the tendency In tin, after fall
from 50 to % cents, the price rises 10
$685. with London, and in copper 1917
cents Is quoted instead of 1917 cents a
month ago.
The disposition to ask Still higher
| prices is seen in boots and shoes, 30
cents advance being asked on some for
which 171@ cents, was asked and paid
in November. The yielding in hides at
| Chicago. in spite of short receipts be-
cause warm weather has checked kill
ing by farmers, has reached per cent
in the last month.
1 Cotton goods are at the highest
quotations of last year, with good de-
mand, though cotton has declined a
little. But the goods We're at no time
| advanced quite in proportion to the
material, and are in that sense cheaper
now than year ago. Wooden goods
are also much lower with respect to
wool than a year ago, and some
| further advance has been expected.
Wool is strongly held, though full
| prices asked month ago can not be
/ obtained.
l why Cotton Doesn't Rise.
| Cotton does not rise further because
receipts from plantations have some
what increased and accounts of large
| stocks at many small towns have at
tracted attention. Many of the south
ern4 mills which can easily supply
| themselves with large stocks from the
surrounding country without passing
the cotton through any market or
| drawing it until it is wanted have done
SO for their protection againstthe pub
licly announced combination last fall
TO raise prices. These mills consumed
last year 1,40o,000 bales, but are reck-
oned as having taken for this years
crop only 100000 bales.
Wheat still moves very sluggishly,
with small change in prices. In six
months OF the crop year about 99,O0O,-
900 bushels, -four included, have been
exported, against 123,00o,000 last year.
| Atlantic exports have now fallen TO
only 2,060,926 bushels for the week,
against 5,214,420 last year, and Pacific
exports We're 531 ,s25, against 614,s33
last year. The price is practically un-
| changed as also for, corn, of which g.
923,1 bushels have been exported
for the week, against 3,572,4l2 last
| year.
Failures for the week have been 273
in the United States, against 243 last
year, and twenty-five in Canada,
against twenty-four last year.
Points From Bradstreets.
Bradstreet's says:
e The business world has marked
time" this week pending the result OF
annual stock taking and the passing
away of the holiday influence, which
usually makes for quietness at this
| period. Aside from the strengthening
of values of numbers of staples, such
as cereals, provisions and cotton, which
are speculatively dealt in, there has
| been no decided movement forward,
but on the other handsthe strength of
all other staple values point to
there having been no backward steps
taken.
The hardware trade has completed
a year remarkable in many respects,
and the significant report comes from
the west that number of statesmen
did not leave the road AT, all during
| the holidays, but kept steadily at
work. Light hardware of some sorts
has been marked up this week. We q !,
| Lumber is seasonably quiet, but al
| ready preparations for an active
sprinp business are perceptible. a
i point of much interest to the lumber
trade is the possible placing of an inn
i mense order, estimated at 10,000,OO0.O0C
feet ofiSellow pines for thespaNs Ameri,
can exposition building at Buffalo
Prices show no weakness.
| Textiles display notable STRENGTH.