The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1900-05-05
Trade Report

R. G. Dun & Co.'s Weekly Review of |
Trade for the past week says:
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 in
crease of circulation which the new
monetary bill had permitted, nor
enough to sustain all the extraordi-
nary 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 rem
dered rates for money unusually low
for the season here, while rare indus
trial and speculative 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 Transvaal and
America, building up in credits abroad
breastwork against prostration in
future here as in the past, caused by
the troubles in Europe.
The reaction in prices came where
it was expected last in the industry
more fully organized than any other
to check competition and in the branch
which, though contracts covering rod
making and other machinery and
through patents, seemed more fully
controlled than any other. Reductions
of $40 in nails, barbed wire and gal
vanized fence and SIS in smooth wire
showed that no control can afford to
hold prices so high as to check con-
sumption. In a week the prices of iron
products have declined $50 per cent
and since February 7, 10 per cent. AS
the wire and nail prices have been
relatively highest, others in the iron
and steel industry can be expected to
fall in like measure. But pig iron Is
weaker. No. 1 local coke at Chicago
is $3.50 and southern pig is also low
err. Plates and bars can be obtained
for about 1.8 cents in good contracts
both at the east and at Pittsburg. The
proposed advance in sheets to SO cents
has not been attempted ard nail mills,
which have gained much by selling at
Z cents per key below wire nails, will
now lower prices also. The stoppage
of a dozen wire and nail mills besides
rod mills at Joliet and another mill OF
the National Steel Company indicate
some change in the actual demand. In
the minor metals the only change has
been in tin, which declined rather
sharply to s29.75 in sympathy witt
. lower London quotations. The ten
dency toward lower prices is strength
\ ened by the idea that over-productioI
: may appear in other branches.
o Wool has not changed in quotations
though some sales of fair amounts ar,
. reported at such prices as 81 cents 70
q Ohio Xxx and SO cents for clothing, ter
ritory cleaned, but manufacturers ar
not disposed to do anything and tn
" west asks prices which dealers hav
no reason for paying. The demand 70
% wooden goods is small, and except Il
n staples, which are steady because wei
sold up, prices are not encouraging.
4 Shipments of boots and shoes froI
~ the east in four weeks have been 306
232 cases, against 330,498 cases las
= year, 9O4061 cases in 1898 and less i
"a any other year. New business bear
= no proportion to the present outpu
O. and the number of works which ar
n closed or running part time is increai
ing.
"a Manufacturers realize that this Is
result of prices asked and of slow r.
tail distribution and long stocks r.
naming on hand, but claim that lowe
=. prices can not be made without los
:. Business in sole leather is reporte
5, fair and prices do not yield, but VI
: per leather is dull.
=. The produce market is inactiv
y though wheat yielded a fraction. e,
y ports continue larger than in fou
70 weeks (fiour included) having bee
- S,S67,877 bushels, against sofa
bushels last year and Pacific export
y 2,725,196 bushels, against 1899
% bushels last year.
'r Failures for the week have been 2(
% in the United States against 1874 la
year and 80 in Canada against 20 la
year.