The sun., 1900-05-12
RECEIVERS FROM HIGH PRICES
Dun's Review Says Country is
Getting Over Embarrassment
With PrOmptness.
BUYERS HOLD BACK ORDERS
Considerable Increase of Business
Reported in the Metal World as
Result of Recent Reduce
tions in Prices. Foreign
Trade Opens.

With wholesome promptness the coun- |
try is recovering from the embarrassment |
Of unnaturally high prices. In some lines
the great manufacturing associations
have taken the lead; i'll others reduction
is still deferred because the entire pro-
ducing capacity is engaged ut high prices
for some months to come; i'll others 1t
comes in spite of resistance because buy
ers hold back orders for their own pro-
lection until material concessions are
made No disturbance nor stringency
nf credits results nor any sign Of alarm,
and the movement is perhaps more
healthy than it could have been if entire
ly controlled by the competition of many
small concerns. The proportion of works
and of hands unemployed is as yet quite
small. and the volume Of business trans
acted. though less than last year i'll New
| England and middle state cities, is larger
| than ever before at n out of ti'' clearing
houses in the entire region west of PENN
| sylvnnia and south Of the Potomac.
Production stimulated Ivy high prices
rises above consumption retarded by
| tEcn. 'rhe weekly output of pig iron
| May / was 29:i.S3U tons against 2S!'.lS2
| April l. while unsold stocks not held by
the great steel makers increased 44,64a
tons. This would indicate daily con
sumption Of tN.G41 tons against 41.G42
in January. hitherto the largest, but for
the fact THAT considerable stocks have
also accumulated in the hands 0f con-
suming concerns, of which enough To use
much more than 900 tons daily are now
idle, Bcssemcr pig at Philadelphia and
I.rhigh valley, No. l. here are quoted at
SD per ton. and market wire has been
reduced in correspondence with barbed
and plain Considerable increase of bust
ness is reported, resulting from recent re-
ductions, but demands for higher wages
and also for closing of some iron works
two months in the year whether there Is
business or not cause some hesitation re
garlig future contracts. The Smelling
and Refining company has reduced lcat
50 per ton. to IA cents, and copper ha
declined M eighth. to 1G7S cents 10
Lake. willie Tin is also lower, ut y, cents
Boots and shoes.
Shipments of boots and shoes from tn
east for the first week of May wcr
smaller than in the corresponding wecl
of cvcly year save one since 1Sl. Th
decline in hides. which has affected ncnt
~ all country quotations II; Chicago illi
week. and some further decline in uppe
Leather. have not brought concessions i
honts and shoes but have strengthens
the purpose uf dealers to Keep back ol
dcrs. Accounts indicate that dealers
stocks throughout the country are Ill
usually large and many shops are cioset
willie many more have but little wof
ahead. Prices asked are practically a
high as they were Jan |. though leatht
averages per cent lower and hdt
about 10 per cent lower.
In spite of good exports. wheat pro
poets suffice to cause decline OF l.
cents, while corn has declined rs cent
Corn exports still run much beyond la
wears, in two weeks 6,S1O,1OO buShe
against 4,72O,6G6 last year, and at \
lautic exports of wheat. flour include
have been in two weeks i.1E,lOS bushe
against 5.33t. 100 last year. with l'acli
exports 1.094.tGl7 bushels against l,oS!
I'D last last year. OF both grains Il
movement from the farms is large tnots
to diApel all fear that the supply VIII u
short.
Foreign trade opens May with an
crease of 6 per cent over last year Ill :
ports from New York and slight q
crease in imports. 1t is lkely thht
ports this year have been swelled to sol
extent Inv shipment of articles to Pa
for exhibition. but such displays usna
result in sales far exceeding orlglr
~ shipments. AS the outgo of cotton a
VIC brcadstuffs seems likely to continue, &
other months excess of exports great
. than the $24,000,000 last year may
~, expected.
raj Failures for the week have hecn !
in the United States against 100 Ii
les wear and II i'll Canada against 70 Il
ed yo"r