The age-herald., 1900-06-16
WEEKLY REVIEW
 OF GENERAL TRADE
Larger Decline Than Expected in
 New Iron Business.
THE PRICES ARE CHANGING
Within Week or Two the Labor Or ganizations and Employers Will be Discussing New Demands
 for Higher Wages


 weekly review of trade tomorrow will say:
 A season of declining prices is never wholly agreeable to business men whose stocks on hand are losing part of their value. Yet there are times when return to the highest prosperity in business is not possible except through readjustment of prices. The highest prosperity the country had ever reached prior to the panic was in 1892 when prices averaged not quite 70 per cent. of the average in 1S60 After great depression for several years the highest point reached with last years re- covery was so per cent. in March, but the general yielding has already returned the general average of prices to a shade less than 75 per cent, practically where it was with the highest prosperity in 1892.
 The output of iron furnaces June 1 was 29e,37 tons weekly, an increase of 2,526 tons, making the yield 1,63S tons less than at the highest point ever reach, February 1. But the increase of unsold stocks to 339, ,4S0 tons, about 94,000 tons in May, dis closes a larger decline than was expected in the new business upon which nearly all the works and furnaces have now to rely and reports that furnaces of considerable capacity have already been closed this month seem likely to be correct. Within week or two the labor organizations and the employers will be discussing new de- mands for higher wages and shorter hours, and the closing of many works for lack of orders will have much influence about that time. Prices are gradually changing, an- thracite No. to $20, and Pittsburg grey forge to $17.50, and sales of bars are re- ported there at $15O After the closing of furnaces and works has more nearly ad- justed present supply to the demand the fact that many large operations are held back until prices have been readjusted will have its proper influence.
 The boot and shoe branch has been him dered more than any other manufacture this year, perhaps by difference as to prices. Hides at Chicago and, to some eX- tent, in Eastern markets have yielded for the most part, giving dealers in boots and shoes a belief that the high prices demand ed early this year would not be held. The leather companies, however, have at times made large concessions, but in general have resisted a decline, with the reasoning that the real difficulty is in the seantiness of buying demand and it is urged that whole sale and retail dealers have on hand too large stocks, taken when the great ad- vance in progress.
 Reconstruction moves slowly in cotton goods, though few quotations are slightly reduced, the uncertain shifting in the mar ket for raw cotton having some influence and the halting of exports to China on &C., count of the interior strife there. As Eu- ropean manufacture is likely to be affected in the same way, the present conditions help those who look for lower prices in the goods market. No further change appears this week in the wool markets, although their stagnation, with irregular prices for goods beyond the most favored staples still indicate downward tendency. Silk and hemp have also gone lower and the recent fall in rubber helps new business. Wheat has been advanced nearly cents with ac- counts of excessive injury to growing grain and the exports from Atlantic ports, flour included, have been in two weeks of June 5,937,1S bushels, against 3526, ,sO1 last year.
 Pacific exports were 1,515,3SS against l. 055,512 last year, and corn exports were S. COG, ,462 bushels against 5,S12,959 last year. The active movement from the farmers seems to discredit many accounts of in- jury, although receipts have been some what smaller than last year.
 Failures for the first week of June were in amount $2,11S,S10, which $1,092,S70 were in manufacturing, and sS33, ,236 in trading con- cerns
 Failures for the week have been 162 in the United States, against 136 last year, and 21 in Canada against IS last year.