The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-02-24
PRICES BEGINNING TO YIELD.
~,osT Nationals ARE SHOWING A
SLIGHT DECLINE.

,rr,usnctiOns in Iron Are Reported
NJ From 81 to $1.50 Per Ton Lower
THAN Last Week-Leather and
hides Have Fallen OF in Price and
wool Is some Cheaper-COttOn,
However, Is StiII Advancing-FaiI-
urcs for the Last Three Weeks.
New York, Feb. Or. G.. Dun & Co.'S
weekly Review of Trade tomorrow will
say
Prices of materials are yielding If not
the best news possible for some specula-
tors. Il Is the best that could come for
1eo country, since industries could not
bong prosper without reaction from the
extreme prices caused by actual or sup
nosed scarcity of materials last year.
some help comes from new iron furna ces
that have opened or approach completion:
some from the famine in India which
sends hither shiploads of hides some from
tbe much increased focks of sheep which
have weathered the winter, and some from
the opening of new iron. zinc or copper
mines. The causes are many, but the re-
vision of quotations gives promise of
greater activity in all the chief indus tries
The great iron industry has been en-
barrassed by prices for pig and bilets,
which were no longer sustained by the
gradually yielding prices of products. Con
4idc-able transactions are now reported at
Philadelphia 81 to s1.5O per ton below re-
cent quotations; at Pittsburg 5000 tens
Rc-sCmer have been sold and 1880 tons
bl Is, both iron and steel being reported
81 per ton lower The new furnaces sup
Diving foundry iron have been Compel
ing sharply at the East and small sales
of Bessemer have been made for Pitts
burg delivery at 30 to Go cents below pre-
vous quotations. Sheets are strengthen
ed there by the new combinations, though
it does not embrace some large works, but
will this addition of 500 COO tons yearly
and it's sales to the Hoop and Tin Plate
companies the National Steel has secur-
ed large and rich mines in Minnesota.
Plates are still weak, as most consum-
ers are provided far ahead, but a Pacific
order covers 1000 tons, and the Chicago
and Northwestern has placed orders at
the East for $500 tons bridge work. Rail
mills are full, but have taken a small
contract for export, and better business
enables tin plate works which have been
idle to resume
Leather Is Cheaper.
Cheaper hides and leather enable boot
and shoemakers to take contracts for split
ly asked, and some large sales have re-
suited, giving part of the shops work for
some time. others are getting very few
orders and some are stopping, or expected
10 stop, in two weeks The yielding in
split leather began early this month. and
in hemlock sole a week earlier, and has
reached l cent per pound. while this week
union backs and kip and glove grain up
per 'leather are cheaper. Hides at Chi
cago have again yielded, making 3 per
cent. fall in month, and 7.3 per cent.
since Dec 49, Supplies accumulate, and
on wharves at Jersey City 10000 sides |
were landed from India. Shipments of |
boots and shoes from the East have been |
in three weeks 8,193 cases, against 243,S79 |
in 1888, the larger the previous year.
At last it Is admitted that wool quota |
tons so long held are fully SC per secured |
pound higher than prices in large actual /
sales last week and since, the decline cov- |
ering grades between one-quarter blood |
and lower, which is in demand and |
scarce, and fine fleece graded Xxx or above. |
The explanations are many; the fact Is |
that when mills made enormous sales of |
heavyweight goods and then bought no |
wool, the fable that their stocks were eX-
hausted ceased to have force. In fine me- |
dunn territory, selling at 5Sc secured, and |
other wool down TO the low grades, the |
fall is general, and English markets are |
also weaker. Goods of higher grades have |
been opened with much less advance in |
price than was made in cheaper grades, |
but cancellations continue numerous.
Advance in Cotton.
Prices of cottons are still advancing, |
the Fall River committee having raised |
all its goods an eighth, and in spite of |
heavy port receipts spot cotton advanced !
To Q 06 cents
Failures in three weeks have been $7,24,- |
20 against SIPS, $50 last year, and ST. |
293 1879 in 1898, but in the previous years |
they exceeded SO, 10000. Manufacturing |
were 50, $50, 5S6 against S3,64S,S64 last year,
and trading were SSS2293O against 1921 |
Az last year.
Failures for the week have been in the |
United States 20l against 191 last year, |
and 80 in Canada against 40 last year.