Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-05-31
ARE;,DE'CLININC.
Reduction in Quotations Con-
tinues During the Week.
DECREASE LEDBYCOTTON
Transition in Most Bra inches, Tho
Has Been So Gradual as to
Avoid SERIOUS Loss-Re.
View of Trade.

New York, May sTransition to
more natural range of prices after
time of extraordinary buying, specu-
lation and rise is not wholly delight
some, however, needful it may be to
business health. But the gradual
change this year, tho wearying, has
given opportunity in various branches
TO avoid losses. -.
1T is nearly six months since the
highest prices of pig iron were reach
ed, Nov. 80, and of wool, Dec. 1, while
hides reached their maximum Dec. 10,
leather and iron products Jan. 10,
boots and shoes Jan. "a, woolens Feb.
81, and cotton and cotton goods March
p. The highest point for all prices
was March 16, and after two months
OF slow decline the range for all prices
was but AS per cent lower May 16. But
the last week has added it's full share,
fall of Az per cent in cotton, 3 per
cent in pig irons LIS per cent in iron
products, 2 per cent in hides, 21s in
boots and shoes and 3h in leather, 31a,
in petroleum and little in many 9TH
er products"
Heavy Decline In Cotton.
After thus generalilng on present
business conditions in the United
States, r. G. Dun & Co.'S weekly Re-
view OF Trade, issued today, enters in
to particulars as follows
The decline in cotton was rendered
sensational by the failure of the firm
which had most strongly resisted it
and for some months had led the cam
paign for high prices in the belief. that
stocks for the rest of this year would
scarcely meet demands with the next
crop in doubt. T,heocourse Of the mar
ket for some months to come cannot
well be predicted, as provision for the
future has ben made by spinners on
both sides of the ocean. l:fT
Weakness in wool, as yet not enough
to prompt heavy buying, has hindered
free purchase of goods, without doubt,
and there is of late somewhat more
complaint of cancellations and of slow
collections. But the market is waiting
rather than unhealthy. With quick adj
lustment to lower range of prices
Tor material it mighttsoon become as
active as at any other time for years.
Ihe silk manufacture is helped by
reduction in prices of raw and the de-
cline IN Manila hemp also aids manu-
facture which is beginning to accom-
pllsh more than many realize.
The nominal price of .Bessemer pig is
held without change at Pittsburg and
without transactions. Bessemer is Of
fered much below the $24.90 asked by
tine association, while prices of finish
ed products of iron and steel have de-
clined more than 10 per cent within
Two months, without any reduction in
rails, structural shapes or in sheets.
NO. l Lehigh pig is quoted here al. S21.
and the best anthracite at S22. at Phil
adelphia. But doubt about sufficient
supplies of .steel-making iron for COM
ing months seems the one impediment
to renewal of activity. Tin is also a
shade lower, with copper and lead ,ln-
changed this week. Sales of Connells-
vile coke below prices recently quoted
exhibit in strong light the change in
the iron manufacture.
Concessions In Leather
Sudden and extensive changes are
now reported in leather and boots and
shoes, apparently resulting from the
unyielding refusal of many dealers 10
place anything like their usual orders
for the season at prices recently asked.
Concessions are now reported of az
to cents per pair in leading grades
for which such reduction was not re-.
ported week ago, SO that the general
decline averages about 3 per cent. II
was doubtless based in part upon con
siderable concessions in leather. as n
now appears that substantially all sta-
pie grades have been sold at prices
half a cent to 11a'cents below those
recently quoted, the fall averaging
about SO per cent.
The movement of breadstuffs has
not materially changed, Atlantic en-
ports of wheat, -four included, having
been in four weeks 1O,4O5, 1897 bushels.
against s,657,165 last year; Pacific eS-
ports, 2,791,791, against 1882, 7O3 last
year, and exports of corn, l3,917,631.
against 1o,267.662 last year. Prices have
changed very little, the excitement be-
ing concentrated upon cotton, which
declined, 7-16c.
Payments thru clearing houses south
OF the Potomac and west of the ALLIE
ghanies have at almost every point
been greater than year ago. and the
shrinkage at New York and eastern
cities is largely because heavy financial
operations connected with the creation
OF new corporations are not being re-
peated.
Failures for the week have been 1s5
in the United States, against 142 last
year, and twenty in Canada, against
sixteen last year.
Weekly Rank Statement.
New York, May 26.-(By Associated
Press. 1.-THE bank statement follows;
Surplus reserve, increased $2,o57, 100: