The Saint Paul globe., 1900-04-14
IRON and STEEL SLOWER
SOME PECULIAR AND NOT WHOLLY
EXPLAINED CONDITIONS OF
MARKET DEVELOP
FIGURES MAY BE DECEPTIVE
II. G. Dun a. Co. sum Up the Business
Situation for the Week--Find
Features That Are Not
Explained,

NEW YORK. April 1s-R. C. Dun &
Co.'S weekly review of trade tomorrow
will say:
Iron furnaces in blast April / pro-
duced 2S9, ,4S2 tons weekly, against 292, ,643
March l, but unsold stocks increased
ESQ tons A mistaken Inference, possibly
fatal to many in it's consequences, is that
STOCKS held by consuming concerns must
De running down. AS they contract for
their supplies months ahead, and such
supplies, whether, delivered and not con-
Sumed, or waiting their orders at fur
naces, would not be reckoned in unsold
stocks, the surplus owned by consumers
may be heavy. New business In finished
products Is reported to the Iron Age from
Tittsburg as 'frightfully small" owing to
bellef that high prices cannot be main
tanned, and no better report comes from
Philadelphia. With No. 1 Anthracite 81
! lower, refined bars 81 and steel plates $11
per ton lower than in December, 1t can
hardly be called impossible for prices to
yield, though many are so far firmly hold.
Pittsburg reports number of the plate
mills shut down, and five Pennsylvania
and Ohio furnaces have stopped, perhaps
for repairs, more than balancing five
which started in March, Tennessee add
ing $500 tons weekly.
THE boot and shoe industry also falls
behind the output, and Is closing some
! works and running many others part
| time because prices are higher than re-
tailers yet seem ready to pay
"A heavy wholesale business has been
done in dry goods, but the question now
is whether retail distribution will justify
it. AS yet returns are not satisfactory;
there is increase, but not enough to war
rant the buying from mills. Woolens and
worsteds are dull with concessions in
fancies, though staples are we'll sold up
and firm. The material declines further,
averaging nearly half a cent lower than
April l.
There is the same uncertainty in cot
ton goods as to retail distribution with
quite as much doubt whether prices will
be maintained though the material has
again been advanced a sixteenth in spec
ulation. But exports in March were IN
value, $33, ,096, ,758 gain over last year Of
$21 ,S26, ,895, so rapidly has Europe supplied
its needs. This ENORMOUS gain made ex-
ports of the chief staples $18,631, ,S39 great
er n value than in March of last year,
though decrease occurred in other items.
Yet only a fraction Of the gain was In
cotton shipments from New York, leaving
the other great increase here to be ex-
plained by manufactured exports mainly.
In spite Of the heavy balance due on
merchandise account there has been talk
Of gold exports, and small amount has
count. Supplies Of money are abundant
here, the banks have again gained large
ly. rates are low and Commercial de-
mands narrow, and the interior is better
prepared than ever to do without aid.
''The exports of wheat from both coasts
continue larger than last year, though
much of the gain is at Pacific ports, not
directly affecting Atlantic supplies.
Flour included, Pacific exports in two
weeks have been 1,51S,254 bu, against 564,-
5G2 bu last year, but Atlantic exports
have been S,S12, ,S57 bu against 1850, $50 last
year In spite Of all reports Of exhaustion
of supply and injury to growing wheat
Western receipts continue larger than
last year, in two weeks, 1864, ,460 bu
against 5,S63, ,665 last year. Corn receipts
also continue heavy. S,9lI,261 bu, against
1861, ,613 last year
Failures for the week have been 1913 in
the United States, against 188 last year,
and Al in Canada against q last year"