The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-05-26
A MARKET.
Prices Becoming steadier After Elk
traordinary Fluctuations.

t46O40AAd4J &A0CSNlNAO4Sr
New York, May 26.-R. G. Dun &
Co.'S Weekly Review of Trade today
says:
Transition to a more natural range
Of prices after a time of extraordinary
buying. speculation and rise is not
wholly delightsome however needful it
may be to business health. But the
gradual change this year, though
Wearying, has given opportunity in va
rious branches to avoid loss.
1t is nearly six months since the
highest prices of pig iron were reached,
November ., and of wool, December l.,
while hides reached their maximum De
cember 81, leather n iron products
January 10, boots and shoes January
"a. woods February p, and cotton and
cotton goods March y. The abIes
given by this paper have shown that
the highest point for all prices was
March IS, and after two months of slow
decline the range of all prices was but
45 per cent. lower May Is. But the
past week has added its full share, a
fall of Az per cent. in cotton, 3 per cent.
in pig iron, Is per cent. in iron products,
? per cent. in hides. 212 per cent. in
boots and shoes, and 312 in leather, 3i2
in petroleum n a little in many other
products.
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. The course of the mar
ket for some months to come cannot
we'll be predicted, as provision for the
future has been made by spinners on
both sides of the ocean. Weakness in
WOOL, as yet not enough to prompt
heavy buying, has hindered free pur-
chqses of goods without doubt, and
there is of late somewhat more com
plant of cancellations and of slow col
lectiors- But the market is waiting
rather than unhealthy; with quick ad-
justment to a lower n of prices Tor
material might soon become as active
as at any other time for years
The nominal price Of bessemer pig s
held without change at PittSburg and
without transactions. BeSSemer is Of
fered much below the S24.90 asked BY
the association, while prices of finished
products of iron and steel have declined
more than 10 per cent within two
months. without any reduction in rails,
structural shapes, or in sheets. Num-
Der one Lehigh pig is quoted here at 81
and the best anthracite S22 at Ph1ladel-
hia But doubt abOut sufficient sup
piles of steel making iron for coming
months seems the one impeachment to
/ renewal of activity. Tin is also a shade
lower, with copper and LEAD unchanged
this week. Sales of COnnellsville coke
! DtlDN prices IENGlilLy QQOlEu GAu1DlL III
strong light the change in the iron
manufacture
Sudden and extensive changes are
now reported in leather and boots and
shoes, apparently resulting from the
unyielding refusal of many dealers to
/ place anything like their usual orders
( for the season at prices recently asked.
! Concessions are now reported at 25 10
3 cents per pair in leading grades for
which such reduction was not reported
a week ago, so that the general decline
averages about 8 per cent.
The movement of ~breadstuffs has not
materially changed. Atlantic exports
of wheat, -four included, having been
in -four weeks 10, 450, 397 bushels, against
S.657, 165 last year. Pacific exports 2.751,-
791, against 81, 932. 703 last year. and ex-
ports of corn 1897, 631, against 10,267.
662 last year Prices have changed very
little, the excitement being c~oncentra-
ted upon cotton. which declined 7-16c.
Failures for the week have been 49,
in the United States against 142 last
year. and 20 in Canada against 16 last
year.