New-York tribune., 1900-09-24

,,,o % the advances of last year. Stocks of
mig iron decrease and the weekly capacity OF
furnaces in blast will soon show gam. Fei
haps the most important news or the "eeN
was the reduction to $40 for steel rails wh'c"
had been nominally $50, with no change since
that price was fixed year ago Heavy con-
tracts will be placed promptly. and this means
increased activity steel mills. with corre-
spending improvement in other forms. from the
rail back to the ore.
Large orders for freight cars are pending
and foreign purchasers have been active IN
Western iron markets. Structural materlal was
rushed to the South for at Galveston ana
makers OF farming utensils are buying material
in large quantity. There is still delay over Ihe
iron bar wage scale. and prices are strong IN
consequence Aside from the cut in steel rails
which was only in proportion to other shapes.
last week brought no decline in quotations. and
there seems reason to believe that the bottom
has been reached. Greater activity in iron
means more demand for coke. and the curtail-
ment of coal production will have influence also'
but the output of Connelsville ovens is still
more than 10000 tons weekly below last years
figures. Tin fell 215 cents last week, making
6A cents in two months. London manipulation
was largely responsible for the advance to 81
cents and liberal exports from the Straits was
the principal cause of the decline to 27A cents.
Activity is general in the lumber regions,
Northwestern sawmills being crowded with
work, and prices tending upward. While no
actual scarcity is threatened deliveries at East
ern cities are smaller than last year. and the
demand is brisk. Shipments of boots and shoes
from Boston increased to 1889 cases, against
81 142 in the preceding week, but compared with
last year the movement is light, for 9S.S34 cases
were shipped in 1899. Inquiries have been larger
than for many weeks. and the urgent nature Of
hat h.
sided. Eastern trade is particularly active, and
the smallest orders come from the South. Wool
len manufacturers seeking little raw ma
teria sales of wool at the East being about 20
per cent of last years. Quotations are un-
changed. and the market is impatiently waiting
for the London auction October 9, and the
election a month later. few weeks ago some
cotton mills were preparing to close on account
of low water. but high priced cotton accom-
plished the end much Idle spindes are
the rule. and more instances are cited Of mill
owners selling their raw cotton at a profit Of
100 per cent instead of making cloth. Further
advances in prices of goods occurred early in
the week but dulness and Indifference charac-
terized later trading.
Cotton fell sharply. but Is still 60 per cent
higher than year ago. while the movement is
liberal at the South, indicating a desire by
planters to secure present prices. Another at
tempt is being made to organize the growers
but such an association is chiefly desired in
order to secure higher prices, and planters are
satisfied at present. Working in connection
with the rapidly increasing Southern mills, such
an association might prove of benefit If properly
managed.
After a week of irreguarity wheat closed
| 21a cents higher active Northwestern
| markets. Exports fell off the price rose. and
it is not surprising that foreigners do not buy
as freely at prices 81 cents above last year and
| ~ cents higher than two years ago.