New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-08-27


openly reduced and privately shaded well
in special transactions In fact, purchasers
have ceased to ask for easier prices and appear
ready to close contracts at current figures.
This condition is especially noticeable in the
markets for bars, plates and various forms Of
structural material. Makers OF farming tools
and machinery of all sorts have allowed their
stocks TO low while waiting for iron and
steel prices to settle. Meanwhile. foreign pur
chasers have become urgent for shipment OF
goods. and domestic business feels the impetus.
Many large contracts pending. and nego-
tiations to the East River Bridge have been
deferred All these orders will have come,
however and cannot be much longer delayed.
Production OF pig iron has been reduced still
more, and even now there Is accumulation at
Southern mills. attributed to excessive rail rates
to the seacoast. Foreign bids are said to be
liberal, and IL reasonable transportation to yes
sells were available transactions could be made.
Full returns Of iron ore production during 1899
make a satisfactory showing for Americans.
In 1880 the record held by England at
1S, O62, O49 tons, but while that country has not
eQualled it's figures during the last twenty
years the United States has steadily advanced,
until high water mark of 24683113 tons
reached last year
Textile manufactures are generally quiet.
pecaly in cottons. The high price at which
the raw material has been held would have
forced suspension of spindles in time, even II
the goods market had not suffered through
special causes, such interruption to foreign
trade in China and India. British mills have
been closed even more than American. but
many in New England are now idle, more stop
ping last week In many cases the closing is
for brief period only. although do not
make temporary arrangements. Stocks have
undoubtedly accumulated. and there is much
expectation that raw cotton will be cheaper
after the crop begins to move more lib
orally next month. Mddlng uplands had a
rather disastrous week, declining three-eighths
of cent a pound. which means 81 81 for
every bale There was brighter crop news from
the South and less interest at Liverpool by
British spinners. Some concessions are re-
ported from the opening prices of lightweight
woollens, and there is disappointment at the
lack OF aggressive buying. Still the sample
order business is brisk and prospects for activ-
ity are considered encouraging. Wool sells
more freely at the three Eastern markets,
Boston especially showing a splendid increase
the previous week Western shippers
manifest confidence by instructing that
ceipts be held off the market until after cleo
ton.
Even the small Improvement Of the preceding
week was lost in the boot and shoe market at
721 cases. against 70. 1873 cases a week earlier.
Compared with the same time last year. there
continues to be a loss of about 10000 cases
weekly. There is no effort to secure lower prices
but all hands. from the manufacturer down to
the retailer, only DESTROYS OF reducing
stocks. This state of affairs like all other
cases Of excessive accumulation. win reach re-
adjustment in time by restricted output The
trouble has been prolonged more than expected
however, and impotence is apparent This is
the more noticeable because of generally bet
ter conditions outside ew-England The local
market, for instance. is reported active on the
better grades Of Shoes and Western advices
are not discouraging by any means The
leather market is quiet but steady at the re-
cent decline while much activity is reported in
hides, some Chicago packers making contracts
for all their skins up TO the end Of the year
Hides and leather are both in a better position
than boots and shoes, which is partly due to
heavy purchases for harness and kindred lines
that are more active than footwear.