The age-herald., 1900-04-28
DUN'S WEEKLY
 TRADE REVIEW Prices of Iron Have Broken
 Sharply. GOLD BEGINS TO GO ABROAD Reductions of $2O Per Ton in Wire Nails Keeps Concerns from Hold ing Prices So High as to
 Check Consumption
GOLD BEGINS TO GO ABROAD

New York, April FIR. G. Dun & Co.'S weekly review of trade tomorrow will say:
 Gold begins to go abroad and prices of iron products break sharply in the same week. Four months of the new year have passed and business does not so expand as to need the large increase of circula- ton which the new monetary bill has per- mitted, nor enough to sustain all the ex- traordinary advance in prices last year. The abundance of gold and of currency and the large disbursements by the treas- ury in exchange of bonds, have rendered rates for money unusually low for the sea- son here while rare industrial and specu- lative activity in Europe, with the war in South Africa, have tended to make money dearer abroad. So new gold from Alaska answers the loss of supply from the Trans vaal and American builds up in credits abroad a breastwork against prostrauon in the future here as in the past caused by troubles in Europe.
 The reaction in prices came where 1t was expected least, in the industry more fully organized than any other to check competition, and in the branch which through contracts covering rod making and other machinery and through patents, seemed more fully controlled than any other. Reductions of $2O per ton in wire nails, barbed wire and galvanized fence, and SIS in smooth wire showed that no concern can afford to hold prices so high a to check consumption.
 In a week the prices of iron products have declined 5S6 per cent. and since Feb ruary 1O3 per cent. As the wire and nail
 tAa i1ha act others in the iron and steel industry can be expected to fall in like measure But pig iron is weaker. No. l local coke at Chicago, $23.50, and southern pig iron also lower Plates and bars can be obtained for about Is cents in good contracts both at the east and at Pittsburg the proposed advance in sheets to 3.6 has not been at tempted, and cut nail mills, which have gained much by selling at cents per keg below wire nails, will now lower prices also. The stoppage of a dozen wire and nail mills besides rod mills indicates some change In the actual demand.
 The tendency toward lower prices Is strengthened by the idea that over-produc- ton may appear in other branches. In cotton goods, after the rise of about 30 per cent, following the advance in cot  crease in southern output has not cut or part of the demand which eastern mills find insufficient
 In staple goods no change is seen, but in other lines and fancy goods irregularity is increasing and greater concessions are made for future delivery. Cotton futures fell and recovered with good prospects for the new crop, northern mills having taken already what they will require until Sep tember, but Ellison's estimate is thought likely to stiffen the foreign demand. Nor has wool changed in quotations, though some sales of fair amounts are reported The demand for woolen goods is small and disappointing except in staples, which are steady, because well sold up, and prices are not encouraging.
 The produce market is inactive, though corn gained l cent for the week. and wheat yielded a fraction. Exports of both con- tinue larger than year ago. Exports of merchandise from New York in three weeks have been S.9 per cent. larger than last year, and with the aid of the heavy cotton movement the aggregate of the month promises to considerably exceed one hun dred millions, while exports here are 13.6 per cent. larger than last year. but will fall below exports by more than 30,009,000. Failures for the week have been 204 in the United States against 1S4 last year and 22 in Canada against 23 last year.