Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-05-17
Price of Woven wire Fencing Cut.
From Saturdays Daily.1


Following break of about 80 1-5
per cent in the price of Wire nails,
pam wire and barbed wire a few
weeks ago, the American Steel and
WIRE company yesterday morning cut
the rate on woven wire fencing about
20 per cent and advised it's Iowa rep
resentative, w. d. Ellsworth, of Des
MONIES, to take contracts at the new
inquire. The break in woven fencing
VIII be greeted with marked favor by
a large number of dealers who found
II lmpracticable to stock up for the
spring trade few months ago, and
the reduction in price will tend to
simulate sales to considerable de-
gree. The losses on stocks of dealers
VINO are well supplied and who are
forced to follow the selling market
VIII not amount to much in Ottumwa.
one Wholesale dealer said today that
ne mad but seven rolls on hand, and
thought that other wholesale dealers
We're fixed about the same way.
The general slump in prices in the
steel industry was brought on primar-
lly by the Wall street deal of j. w.
Gates, the executive head of the Amer-
lean Steel and Wire company, who a
rev weeks ago ordered number of
the mills of the company closed aud
went onto the exchange with violent
opposition to his course from owners
OF large blocks of stock in the concern.
MT. Gates insisted that sales were
wholly out of proportion to the output
OF the mills and that some means of
retrenchment in expenses was neces-
sarY. Amid storm of most vigorous
protest he carried his point, and in
stead of the 'Seligman crowd" secur-
ing executive control a few DAYS ago.
Mr. Gates was retained
For the past two years the American
Steel and Wire company has steadily
Deen making advances in the prices of
lis products, and the advances result
cd in greater or less extent in cur
failing the volume of business. Before
the organization of the company in
Its present form, advances, when they
We're made, came cents a hundred
weight at a time, and occasional re-
auctions were made to meet fiuctu-
ating market. After the consolidation
OF interests and milling properties the
advances came Is, 20 or 25 cents every
time change was made and there
We're no reductions. Every advance in
creased the price of the product over
the price before ruling, and there were
no fluctuations in value. Constantly
on the up grade, the goods sold slow
~ and merchants placed orders only
when the need of stock was impera-
lively demanded. The first break in
the history of the Wire and nail trust
was recorded recently, following the
Gates manipulation of the stock of the
company, and the second, which is an
nounced today, was expected to come
Simultaneous with the drop in wire
and nail prices.
The sentiment against the trust has
been crystalizing for long time and
dealers admit that they are all at sea
concerning the situation of the mar
ket. 1t is not believed that further de-
cline will be announced for some time.
but the future of the woven fencing.
wire and nail schedule is considered
to be a thing of conjecture. Telephone
WIRE in various grades has not shared
IN the general decline.
At the time of the slump in prices
OF nails and wire, which was recorded
IN the Courier few weeks ago. Of
tumwa jobbers did not look for a fur
Their reduction in the price except per-
maps to small degree. Now that the
20 per cent cut on woven wire fencing
mas come, they do not know where
they are at" and are awaiting the
next move of the trust with interest
not unmiAed with anxiety. The for
mer state of the market told the wise
ones that to load up might mean a
large financial loss, and their policy
in holding off proved to be wise one.
Now that the break in the price of
woven wire has come, dealers say it is
not unlikely that it may be followed
by others, hence dealers will wait
a while until they can see the out
come.
IOWA MEN WINNERS.