The Topeka state journal., 1900-07-28
REVIEW OF TRADE.
Big Western Crops a Feature-Iron
Business Dull-Dry Goods Quiet.
New York, July 28.-Bradstreet's


says:
Important changes in trade and spec
ulation are notably lacking this week,
but counter currents of demand in va
riOuS sections and Industries lend a
rather more than usually irregular ap-
pcarance to the general situation
Among the nOta bile features calling for
notice are the practical assurance of an
immense crop by the recent cOpious
rains in the further west, the continued
cheerful reports from the sections which
have gathered and are now marketing
a large winter wheat crop, with re-
ports OF continued improvement in tone
in the northwest, with reports of re-
newals of earlier cancelled orders for
fall goods, fairly satisfactory gains in
gross railway earnings, less weakness
in prices of the country's leading cereal
products, based apparently on renewed
buying for export and rather more in
quiry for raw wool by manufacturers.
UnfavOrable elements in trade prob
ably find their chief and greatest expo
sitfon in the iron and steel business.
That industry is. if possible, more de-
years past, and expectations that price
declines would be checked by the ar
rival of finished matter at a. cost basis
have been disappointed, because this
week steel bars have been sold in some
instances at one cent per pound, which
is urquestionably below the basis of
cost of raw materials and manufacture.
That a large tonnage of this material
and southern pig iron has been worked
off seems certain, but it is still buy
erS' market, with everything that this
implies. Export business would un-
dOubtedly expand if ship room were
available Among other metals, tin is
locally lower on freer arrivals, after
touching the highest price in twenty
seven years.
Trade in dry goods, at the east par
ticularly, seems backward pending a
clearer realization OF the cotton goods
situation. Bleached goods have been
cottons are steady. Some reselling of
their raw cotton by eastern mills for
export is reported. Satisfactory pro
gress is reported as to the growing
American and Egyptian crops, and the
margin between old and new delivery
tends to widen. Rather more inquiry
for wool at eastern markets is a sign
Of manufacturers getting ready for the
r. G. Dun's Weekly Review of Trade
says:
A stop to the decline in wool brought
many manufacturers INTO the market
asking terms Good sales of California |
and territory woods were made to mills |
and the trade expects larger purchases |
to follow the opening of spring goods by |
the American WOo1en company next |
week Holders have had difficulty in |
storing were the chief sellers. Sales of |
wool at the three chief markets were on |
ly 4,337, 500 pounds, against 500 last |
year. Cotton improved Slightly, and |
more business occurred in cotton goods. /
A reduction from, to 6% cents in |
bleached cotton closed out the entire |
stock in As hours, prices then being re- /
stored. Similarly in iron, the depression |
in which has resulted in hesitation and
fear in other industries, the tone is bet
ter; and in the Pittsburg district the
mills have booked a line of fair orders
in bars and plates. Structural and bridge
ma terials are better taken.
The refusal of the Amalgamated Asso-
citation to allow a change in the wage
scale adopted in May has led to strikes at
bar mills. and the Republic
secure concentration, but the non-unfon
capacity will prevent serious scarcity. |
Further business in bars shows that agri-
cultural implement makers are more |
burg and Bessemer steel billets sold at |
s19- With the uncertainty of the confer
moved, BUYERS may proceed with less
anxiety Export orders advanced electro.
ytic copper from 141z to 1850 in large lots.
IoDDerS IN boots and ShneS are demanding
prompt delivery old orders. but new
business is scarce Manufacturers are
-aking leather only for immediate needs.
sor betting at moderate concession IS
'epOrted- Packer hides sell freely at Chi
ago. at the recently reduced price
TT was not surprising that wheat de-
,lfned still further this week. for the price
lad been held far above the quotation rul-
ng at this date in 1899. and crop c0ndi-
;ure an abundance for all home require
nents and the usual amount for export
High prices have curtaiIed foreign buying
o some extent. and in four weeks Allan
ic exports of wheat, including -four have
Ieen I.266, 436 bushels. against S-430, ,431 last
ear The shipments of corn make a more
satisfactory com pariSon, in four weeks
mounting to y. 20. .435 bushels, against
1.SSl-479 a year ago
United States. against isl last year, and
5 in Canada, against 20 last year.