The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-02-24

GENERALLY
YIELDING.
.From Formsr Demands BY Reason e
Supposed Scarcity Of
IRON PRICES hon SUSTAINED.
Famine In India Has Caused Iazgu
Shipments Of Hides at
Lower Prices.

NEW YORK, Feb. 2S.-R. q. Dun q
Co. review OF trade tomorrow
will say;
Prices in material are yielding. If
not the best news possible for some
speculators, It IS tho best that could
come for the country, since industries
could not longer prosper without reao-
tIon from the extreme prices caused by
actual or supposed scarcity OF mater
falls last year. Some help comes fEutn
new iron furnaces that have opened or
approach completion and from the fams
Inc In India, which sends hither such
loads Of hides; some from the much tn-
creased hocls OF sheep which have
weathering the winter. and some from the
opening Of the new iron zinc and cop
per mineS. The causes are many, but
the revision Of quotations gives promise
OF greater activity in all the CHIEF in-
Iron Prices Drop.
The great iron industry has been em-
barrassed by prices for pig and billet1
which were no longer sustained by the
gradually yielding price OF products.
Considerable transactions are now re-
ported ut Philadelphia 81 to 81 50 per
ton below recent quotations. AT Pitts
burgh, 10000 tons Bessemer have been
sold and $4,000 tons blllets, both Iron
and steel being reported 81 per ton
lower. The new furnaces supplying
foundry iron have been competing
sharply at the east, and small sales OF
Bessemer have been made for Pitts
burgh delivery at so to 65 cents below
previous quotations. Sheets arc
strengthened there by the new combi-
nation. though It does not embraces
some large works, but with this addi-
tion of 100000 tons yearly and Its sales
to the hoop and tin plate companies, the
National Steel has secured large and
rich mines in Minnesota Plates arc
still weak, as most consumers are pro-
Vided far ahead, but the Pacific orders
at the east for $500 tons bridge work
covers 1900 tons, and the Chicago q
Northwestern has placed orders to the
east for $500 tons Of bridge work. Rail
mills are full. but have taken a small
contract for export, and better business
enables tin plate works, which have
been Idle, to resume.
Cheaper hides.
Cheaper hides and Leaf enable boot
and Bh6e mhlSers to take contracts ~
less than prices recently asked. and
some large sales have resulted, giving
part of the shops work for some time.
Others are getting very few orders, an6
some are stopping or expected TO stop
IN two weeks The yielding In split
leather began early this month, and in
1emlock cole a week earlier, and has
reached ona cent per pound, while this
week union backs and kip and glove
grain upper leather are cheaper. Htde9
Mt Chicago have again yielded, making
per cent fall in q month and i.S per
cent since December 1B. Supplies ac-
cumulnte, and on wharf8 at Jersey City
1nFnnH fFnNTT InGfa.
Shipments OF boots and shoes from the
east have been In three weeks 2S,1eS
cases, against 243,S79 In 1898, the largest
previous year.
Al last 1t Is admitted that the, wool
quotations, 80 long held, are fully
cents per secured pound higher than
prices in large actual sales last week,
and since, the decline covering grades
between Y blood and lower, which is In
demand and scarce, and tine heece
graded Xxx or above. The explanations
are many; the fact 10 that when mills
middle enormous sales Of heavy weight
goods. and then bought no wool, the
fable that their stocks were exhausted
ceased TO have force. In hne medium
territory selling at 1sc; secured and
other wool down to low grades, the ran
Is general. and English markets are
also weaker. Goods OF fine grades haivp
been opened with much less advance IN
price than was made In cheaper graaes'
but calculations continue numerous.
Prices Of cottons are still advanotngi
the Rail River committee having raised
ali Ms goods, and in spite Of heavy port
receipts, spot cotton advanced to s.0e
cents. -
Failures In three weeks have peen
S7. 2iI 2SO. against $7,l2s.7S0 last year and
81 ,2S3, ,4S9 in 1SsS but In the previous
vesrs they exceeded SiO,6O0O0O. Manu-
FEATURING were S2,S5G,5Ss, against g.
sI9Sei iast year, and trading were 3d.
500 $50 against S9.237.472 last year.
Failures for the week have been IN the
United States 201 against lsl last year
and 80 in Canada against 10 last year.