The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1900-05-26
Change to Lower Prices Is
Natural.
DUN'S REVIEW OF TRADE
SAYS TRANSITION rs NECEssA-
RY TO BUSINESS HEALTH.
Copper and Lead Unchanged During
the Week-Cotton Furnishes the
Sensation-Export of Breadstuffs
Increases-Wool Is Not Weak
Enough to Promote Buying.

New York, May 25.-R. G. Dun &
Co.'S Weekly Review of Trade tomor-
row will say:
transition to a more natural range of
prices after a time of extraordinary
buying, speculation and rise is not
wholly delightsome, however needfuI it
may be to business health. But the
gradual change this year. though
wearying. has given opportunity in va
rious branches to avoid loss It is
nearly six months since the highest
prices of Dig iron were reached, Nov
%, and of wool, Dec. 1, while hides
reached their maximum Dec 10. leath-
er and iron products Jan. TO- boots and
shoes Jan. a, wool Feb. q and cotton
and cotton goods March 81 The ia
bles given by this paper have shown
that the highest point for all prices
was March 16, and after two months
of slow decline the range for all prices
was but As per cent lower May 16 But
the past week has added its full share
fall Of AZ per cent in cotton, 3 per
cent in pig iron, 1.5 per cent in iron
products, per cent in hides, 215 in
boots and shoes and 31z in leather, 81
in petroleum and little in many other
products.
The decline N cotton was rendered
sensational bv 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.
Future Is Doubtful.
The course of the market for some
months to come cannot well be pre-
dicted, as provision for the future has
been made by sDinners on both sides
OF the ocean.
Weakness in wool, as yet not enough
to prompt heavy buying, has hindered
free purchases of goods without doubt,
and there is of late somewhat more
complaint of cancellations and of slow
collections. But the market is waiting
rather than unhealthy, with quick
adjustment to a lower range of prices
for material might soon become rs
active as at any other time for years.
The silk manufacturer is helped by re-
duction in prices of raw, and the de-
cline in Manila hemp also aids a man
ufacture which is beginning to ac-
complish more than many realize.
Iron Is Held Unchanged.
The nominal price of Bessemer pig
is held without change at Pittsburg and
without transactions. Bessemer is Of
fered much below The $2490 asked by
the association, while prices of finished
products of iron and steel have de-
ciined more than IS per cent within
two months, without any reduction in
rails, structural shapes, or in sheets.
No. 1 Lehigh pig is quoted here at S21,
and the best anthracite S22 at Phila-
delphia. But doubt about sufficient sup
plies of Steel-making ron for coming
months seems the one imDediment to
renewal Of activity.
Lead Holds It's own.
Tin is also a shade lower, with cop
per and lead unchanged this week
Sales of ConnellSVille coke below prices
recently quoted exhibit in 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 unyield-
ing refusal of many dealers to place
anything like their usual orders for the
season at prices recently asked. Con
cessions are now reported at 212 to
cents per pair in leading grades, for
which such reduction was not reported
a week ago, SO that the general decline
averaged about per cent. It was
doubtless based in part upon consider
able concessions IN leather. as it now
appears that subsequently all staple
grades have been sold at prices half
to ~ cents below those recently quot
ed. the fall averaging about 31s per
cent.
BreAdstuffS Exports Large.
The movement of breadstUfTs has
now materially changed, Atlantic ex-
ports of wheat flour included, having
been in four weeks 10. 405,397 bushels,