The Oskaloosa herald., 1900-09-20
AFFECTS BUSINESS.
Trade shows a Hesitation Caused by
the Southern Storm and Threat
ened Coal strike.

-
New York, Sept. 1S.-R. G. Dun & Co.'S
Weekly Review OF Trade says: '"The trop-
ical storm that devastated the gulf coast,
almost wiping out the city Of Galveston
and doing damage in other parts Of the
country, caused reduction in the volume
of business at the south, and railroads
in the gulf region have probably not shown
their maximum losses of earnings as yet;
but even after such a catastrophe a re-
Operative power is shown. An added cause
of hesitation in business is the order for
a strike of anthracite coal miners. 9th
erwise the working force has increased
this week, for operations are resuming at
steel mills. and the Observation-Disclosures
car plant and the Deering harvester works
have started up after seven weeks idle
ness with 1900 hands each. From many
quarers of the west and southeast a bet
ter distribution OF merchandise is report
ed In 1obbing and retail circles. The
weather has continued favorable for the
maturing corn crop, with cutting progress
ing and the crop generally beyond dan
ger; but damage to cotton by the storm
is stin an unknown quantity. Prices of
staple commodities are higher for the
week, hoisted by the sharp rise in cotton,
but In manufactured products there is
little change, though steady increases Of
business at the current level are satisfac-
tory.
wheat rose above so cents again, in the
face of receipts for the crop year thus far
sass $50 bushels larger than last year., while
exports decreased l0,251,S7S bushels, includ-
ing -four. Reports of heavy rains in some
sections and injury TO the crop, with better
inquiries by foreign houses, explain the
advance.
More orders are being received at the
iron mills and prices are steady. In struc-
tural and finished material there is much
business, and activity is becoming almost
universal In the iron region. Steel rails are
waiting for the agreement as to prices,
which is expected to be reached next week.
A reduction in keeping with other steel
products is considered certain, and then
the market will be on a settled basis. Some
large makers favor $3.50 as the new basis
and believe hat nearly 2,0O0,0 900 tons would
be ordered at that figure. Ship building was
never more active, n a feature was a con-
tract for a coal pier to be used in the ex-
port a
Failures for the week were 195 in this
United States, against l4s last year. and
80 in Canada, against % last year"
Bradstreet's says: Expanding demand
at advanced prices in man, lines Of :rade
finds it's chief exemplar in the market for
raw cotton, which has witnessed the great.
est excitement, heaviest trading and larg.
est gain in price for at least q decade.
Rarely, If ever, in the history of the trade,
&c SOlANuSNcu Oh OdSl AAhCSB mas NAa
interest displayed in that product been
greater, n the manufacturing interests
of the world find the situation a perplexins
one, while the prospects of large profits
to producers are stimulating all lines Of
southern trade. English spinners, who are
reported very generally short Of supplies,
are considering drastic methods of meeting
the requirements. In American cotton
goods the situation, from being a short
time & a buyers market, is now re-
versed, and sellers are in a position to die
tate terms. So suddenly has the outlook
as viewed by the trade generally changed,
however, that manufacturers are unable
or unwilling to define their exact position,
or, If they accept new business, DO so on q
distinct basis of cost OF new supplies. Max
imum cotton crop estimaters OF past years
are apparently panic-stricken and predict
famine stocks for the end Of the year,
even with reduced consumption.
"The predicted anthracite coal miners
strike is almost the only unfavorable fea-
ture of the Industrial situation. The iron
and steel situation has not materially
changed, and ~irregularity in demand and
prices is still q feature. Rather more talk
is heard of the influence of election uncer-
tainties upon future trade, and certainly
some additional weakness is told at leading
pig iron markets, while, on the other hand
finished material Is rather more firmly
held"