The age-herald., 1900-06-30
DECLINING PRICES FOR STEEL AND IRON Bradstreets Says Decline is Due
 to Natural Causes. HEAVY RAINS DAMAGE CROPS Government Report Estimates Wheat Crop at leo,ooo,ooo Bushels
 Despite Discouraging News
 from the Northwest

New 1ork, June D.-BradStreetS tomof' TOW will say
 Distributive trade is dull, seasonably SC in most instances, and prices of manufac- tured products are generally weak, but exceptions to the former are found where crop conditions are exceptional promis- ing, and in the case of prices where the readjusting movement has been overdone on the downside. The upward rush of wheat prices eliminated at the close of last week, and the reactions and irregular ity since, mainly due to heavy realizing, would point to the movement having been temporarily at least overdone Reports of rain in the northwest, though it is claimed too late to help the crop In Minnesota and the two Dakotas, has had some reassur- ing effect and second thought apparently inclines bears to the belief that the late advance discounted much of the expected or predicted shortage in yield Of the world s crop. Advces from the northwest are of little more than half a crop of wheat, but estimates as to the outturn in bushels vary according, as the government report of 16O,O0O,ooo bushels or the commercial es- timate of 200,00O,0O0 bushels yield last year in the three States are used as basis
 
 weather in the corn. belt sympathy with the early advance in wheat, and what Is more important, apparent increased pop ularity of corn on home and export ac- count, was responsible for this cereal reaching the highest point paid for year past. Oats and other farm crops also sympathzed as did most hog products. Butter is higher on smaller receipts. Sugar is at the highest price reached at this time for ten years past, owing to active canning demand, and the strengthening of position of raw. The war in China is chargeable with the advance in teas, not only in that country but from Japan, some lnterrup- ton in transportation being apparently looked for if the Asiatic trouble increases.
 Heavy rains are complained Of in the en- |. tire cotton belt east of the Mississippi, and the crop is generally in the grass. The re- suit has been an advance of 1-3c on new crop futures, while the critical position oi old supplies the visible being 1,9OO,0OO bales smaller than a year ago, has resulted in an advance of nearly half cent on spots
 Increased cost of raw material is not balanced by an advance in finished pro- ducts The contrary is, in fact, the case, because print cloths 14c off, and prints are 1Sc lower per yard.
 Reports from the iron and steel trade are as pessimistic as ever. Nomfnally quota tions at Pittsburg are unchanged, but 1t is claimed buyers can get supplies $ and $3 lower. At all markets pig iron and bars among finished products are unquesuonably lower. A comparison of present prices with those of a year ago show that pig iron is little above last year, while steel bilets, bars and plates are all lower The reduction in structural material has brought little new business While natural causes are. unquestionably tending to limit production and large quantity of business is at the same time waiting to be placed, some new element is evidently needed to dissipate the stagnation. The lead market is apparently an example of the readjust- ment of prices, having been overdone be- cause it Is not steady after two advances from the low point reached some weeks ago.
 Wheat, including flour, shipments for the week aggregate S,1S4,14 against 4,645, ,1SO bushels last week, S,26S,sss the correspond ing week last year, 4,7l6.401 in 1S9S 2,77S,S4S in 1887 and 2601, ,096 in 1896.
 Since July 1 this season the exports of wheat aggregate 199, 654, ,305 bushels against 22503S,6 ,6OS last year, and 233, 7SS,6 ,6S9 in 1S979S
 Corn exports for the week aggregate 4,- 000654 against 2,514,593 last week. ,4S2 116 in this week year ago, 2.601 560 in 1S9S 1923,- 9SS in 1897 and 1,59S,661 in 1896. Since July l this season corn exports aggregate POP 769,- 574 bushels against 169, 7S0,274 during the same period year ago and 197,117,9 ,910 in 1S97-9S.
 Failures for the week number 1S7, as compared with 167 last week; 15S in this week year ago; 1855 in 1898; 225 in 1884, and 229 !n 1896.
 Business failures in Canada number IS, as compared with 2S last week; 23 in the same week year ago; 22 in 1898; 33 in 1897, and 9 in 1896.