The Topeka state journal., 1900-02-24
PRICES ARE YIELDING.
Tide Has Turned in the Manu-
featuring Industries.

New York, Feb. 24.-R. G. Dun &
Co.'S Weekly Review of Trade says:
Prices in materials are yielding. If
not the best news possible for some
spectators, it is the best that could
come for the country, since industries
could not long prosper without reaction
from the extreme prices caused by act
ual or supposed scarcity of materials
last year. Some help comes from new
iron furnaces that have opened or ap-
proach completion, some from the fam
inc in India, which SENDS hither ship
loads of hides. some from the much in
creased stocks and sheep which have
weathered the winter and some from
the opening of new iron, zinc and cop
per mines. The causes are many but
the version Of quotations gives prom
ise of greater activity in all the chief
industries.
The great iron industry has been en-
barrassed by prices for pig and billets
which We're no longer sustained by the
gradually yielding prices on products.
Considerable transactions are now re-
ported at Philadelphia 81 to $3.50 per
ton below recent quotations; at Pitts
burg 10000 tons bessemer have been
sold and 5000 tons billets. both iron
and steel being reported 81 per ton
lower. The new furnaces supplying
foundry iron have been competing
sharply at the east and small sales of
Bessemer have been made for Pitts
burg delivery at so to 65 cents below
previous QuOJdJlOnSs 01lCGIS dES
strengthened there by the new com
binations though it does not embrace
some large works but with this addition
of 100000 tons yearly and its sales to
the hoop and tin plate companies, the
National Steel has secured large and
rich mines in Minnesota. Plates are
still weak as most consumers are pro-
vided far ahead but the Pacific orders
cover 1000 tons and the Chicago and
Northwestern has placed orders to east
for $500 tons bridge work Rail mills
are full but have taken a small contract
for export and better business enables
tin plate works which have been idle
to resume.
Cheaper hides and leather enable boot
and shoe makers to make contracts for
split goods at 21s cents less than prices
recently asked and some large sales
have resulted, giving part of the ships
very few orders and some are stopping
or expected to stop in two weeks. The
yielding in split leather began early
this month and in hemlock sole, a week
earlier, and has reached one cent per
pound while this week union back and
kip and glove grain upper leather are
cheaper Hides at Chicago have again
yielded, making three per cent fall in
a month and 7.3 since December 80.
Supplies accumulate and on WharveS at
| Jersey City $50, 900 sides We're landed
from India. Shipments of boots and
shoes from the east have been in three
1898, the largest previous year.
AT last it is admitted wool quotations
| so long held are fully three cents per
| secured pound higher than prices in
| large actual sales last week and since,
| the decline covering grades between
| one-quarter blood and lower, which is
| in demand and scarce, and fine fleece
| graded Xxx or over. The explanations
| are many. The fact is that when mills
| made enormous sales of heavy weight
| goods and then bought no wool, the
! fable that their stocks were exhausted
| ceased to have force In fine medium
| territory selling at So cents secured,
and in other wool down to the low
grades, the fall is general and English
markets are also weaker. Goods of fine
| grades have been opened With much
| less advance in price than was made
| in cheaper grades but cancellations
/ continue numerous.
vance, the Fall River committee having
| raised all its goods an eighth, and in
spite of heavy port receipts spot cot
! ton advanced to 9.06 cents.
Failures in three weeks have been
/ 81, ,241, ,Z30 against 81, ,129, $50 last year and
| 81, ,293, ,439 in 1898, but in the previous
years they exceeded SIC, 1000, 900. Manu-
featuring were 50, $50. .536. against SO. 643,
| 864 last year, and trading were So, ,322,
$780, against SO, ,237, ,472 last year.
Failures for the week have been in
| the United States 201, against 191 last
year and SO in Canada, against 40 last
|