Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-03-08
COTTON BOOM.
Business is Stimulated by the
Advance in Cotton Prices.
INCREASE IN EXPORTS.
Southern Plantations and Country
Towns Selling Twice the Amount
They Did Last Year = Striking
Strength of Railway Stocks.

:
They Did Last Year = Striking
Strength of Railway Stocks.
New York. Mar. 3.-"The rist of cot
ton to 911..s cents,the highest point since
January, 1898, has done much to slim
| late business, drawing from southern
plantations and country towns more
than double the quantity marketed
last year, distributing millions to pro-
ducers, whose purchases of supplies,
are thus increased, and swelling be-
|yond all expectations the purchases for
export.
"Heay selling of cotton by people
who had none, but felt certain that
10 cents would mark the limit of the
rise, had placed them quite at the mer-
Icy of holders. But the markets both
I for goods and for cotton have been af-
fected all over the world, and the coun-.
try will reap some benefit in a larger
excess of merchandise exports over i'm
ports. The market for goods has been
pushed !do greater activity, tho they
have risen only 3 per cent since the
year began, while, the material has
risen over % per cent
Strength OF Railway Stocks.
r. G.. Dun q Co.'s Weekly Review of.
Trade, from which the foregoing is
taken, continues: 4
Except across the ocean, where
Ievents in South Africa caused nearly
|all business to be forgotten, changes
in the stock marked rank next in inan-
cial interest 10 therise of cotton. It
was revelation of the appreciation in
which American railway stocks are
held to see them strongly supported,
with Third avenue falling to about SO
and Flour Milling dismissed TO the
hands of receivers.
The small rise in wheat last week,
taltho the price is quite low, suffced
TO call from the farms such receipts
4,105,661 bushels, against 3,1O5,437 last
year-as to indicate that supplies are
not nearly exhausted. Exports from
Atlantic ports continue small-for the
week, flour included, only 1,S12,306
bushels, against 4O69, 1884 last year, and
in four weeks from both coasts H.
639,26O, against 14,s23,373. Tho ex-
ports ran behind last years, which
We're almost unequaled, they have all
ready exceeded in eight months those
of most full years, and the exports of
corn--in four weeks Il, 724,645 bushels
against 1908, JOSS last year-explain
much fof the difficulty, corn rising
three-quarters of cent during the
week, while wheat declined Ia cents.
The iron and steel industry contin-
ues the greatest weekly output ever
known, even while men speak of it as
waiting for more definite assurance
about the future. Prices of pig yield
a little, some sales of Bessemer having
been made at Pittsburg for $24, and
anthracite No. lis quoted here at
$3.50. Billets have been sold at $33
at Pittsburg. For most finished prod
ucts prices are stronger than a week
ago, or as strong, bars and sheets be-
ing strengthened by large business,
while only plates appear weaker, $2.1O
being quoted for sizes not the widest.
Decline In Hides Continues.
Coke is scarce and higher, in spite
of the largest output ever known, and
the wages of hands have been raised
12A per cent to the highest ever paid.
The decline in shides ait Chicago con-
Times, having been over 2 per cent the
last week, and 9 per cent from the
highest point in December, and
part of that only in excep-
tionally large transactions, pre-
1sumably meant to be private. Boots
and shoes have yielded very little, and
many dealers ended their eastern trip
without buying, and intend to wait un-
til April, as they did last year, when
they paid rather less than prices asked
in February. Yet shipments on past
orders have been in February 3S5,a14
cases, about $4,000 more than in 1898,
or any other year.
| Besides the S81 commercial failures
for $9,931,O4S there were in February
i six banking failures for $62O,121. and
receivers were appointed for the Unit
ed States Flour Milling company, with
$25 100000 stock and $15,O00,OOO of
bonds, authorized at it's organization
last April, and for the Third Avenue
Railroad company, after liens for sew
eral millions had been placed upon the
property. Unless separated from such
events, commercial failures could not
be compared with benefit. The manu-
featuring failures for $4,257,63s were
larger than in February of 1896 or
1895, but more than half the amount.
was in two classes, four large lumber
and one clothing failure making SO per
cent of the whole. The trading fail
ures We're larger than in February of
last year only, but 20 per cent of these
defaults We're made in five failures.
In most branches the comparison
with previous years is encouraging,and
analysis brings out,in strong light the
remarkably low average of liabilities
in the smaller failures, which consti-
tute the great majority, indicating
sound business conditions and unusu-
Tally satisfactory collections.
Failures for the week have been 22a
| in the United States, against 1856 last
year, and twenty-eight in Canada,
against forty-seven last year.
Weekly Bank Statement.