Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-06-23
WHEAT CROP DAMAGE
Probable Extent Of the Loss the
Chief Factor in the Trade
Situation.
Estimated Yield Reduced From the
Largest on Record to One Of
the Smallest.

Closing Of Factories For Adjust.
ment Of Labor Troubles Also
q Feature.
New York, June 23-R. G. Dun & Co.'S
Weekly Review of Trade today says:
The damage to the wheat crop of the
northwest is the event Of chief imports
ance How extensively the loss may
prove, in view of widely conflicting ac-s
counts. can only be judged from the
speculative markets, in which informa-
ton gathered in the west has caused
a remarkable advance. at Chicago 10
cents in ten days, and the price here has
advanced IL cents per bushel tho for
the September option only 8 cents. The
belief is that So large part of the
spring wheat has been killed as to re-
duce the yield expected to be close to
the largest on record to considerably less
than the world has required during the
crop year now ending.
Until within the past three years 1t
would have been reasoned that any ma
terial advance III price would neutralize
I the foreign conditions which had caused
lexports of about 1S0,O0O.000 bushels Of
wheat flour included. in the closing
year. after 222, 100000 bushels in the pre-
Nious year,. besides exports of 213,000,0OO
bushels of corn in the closing year,
\ against 1 Il, 600, 600 bushels last year But
| the facts seem TO indicate q more ex-
Itensive and lasting increase of foreign.
l3demand than has been considered prob
able. If the, coming crop falls much be-.
low expectations, the demand for 1t may
prove surprising even tho prices ave-
rage more than has been expected
The closing of manufacturing works
at this season usually has a double
1 meaning. The labor organizations see
4 in the summer vacation settlement of
wages for the coming year Last year
the pressure for produce was SO great
that concessions We're readily made and
others later. SO that the rate of wages
became the highest ever known since
the currency was deprecated. This yenr
extensive demands are being made,
without approach to settlement az yet
lin many of the branches of business, so
THAT the summer vacation may be more
usual. There Will be time to work off
excessive stocks in some lines and to ad-
i just prices to new basis for the latter
Ihalf of the year.
In iron and steel, progress toward
A that end was made when the structural
4 producers q week agnreduced the price
4 of beams to $40 and angles to $50 at
j Pittsburg. leaving only rails and tin
stplate. which have not been reduced from
4 the highest point. The railworks are
5Icrowded far ahead and the questionain
Tin plate depends largely upon wages.
Il Eastern bar is reduced to 1.55 cents and
4 steel bars to 1.50 cents Mt Pittsburg.
4 With a general shutting down Of works
expected July I. Hoops are quoted there
4 at 2.25 cents and No. % black sheets at
! cents. buyers asking only for small
n lots. There iss a wide range of quota
a tions for merchant steel. and the lower
prices named for pipe have only started
4 the demand a little, as buyers expect yet
4 lower quotations. Minor metals are all
80 quiet, with small transactions.
a The shipments of boots and shoes are
s over 20 per cent smaller than In 1898
Il The jobbers still appear inclined to wait
"a Lower prices are again reported for
f several grades of cotton goods. and are
Z expected forothers, and buying is there
: BY retarded. Heavy brown goods ant
sIdrllls and denns are dull and. without
!. doubt the uncertainty of the materia
: market has some influence. In wooler
l goods also the manufacturers find thai
: the demand fails toanswer expectation!
/ or to support prices asked at the open.
: ing and some large works are now re
1 ported running part time or closing. A
!, the three chief markets wool has beer
e extremeiy dull. with sales of only 9.720
. 1890 pounds. Even where considerable,
E blocks are offered at low figures TIL,
!. condition Of the goods market is by M
: means encouraging to buyers
: Failures for5the week have been 179Gil
( the United states. against 17S last year
j and 25 in Canada, against Is last year.
Rradstreet.s review.