Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-02-27
Materials Show a Noticeable
Reduction in Cost.
BENEFIT TO INDUSTRIES
Reduction In Quotations ON Material
Gives Promise OF Greater Activ.
fly In Leading nIanufac-
turing Branches.

country, since industries could not long
prosper without reaction from the ex-
IRENE prices caused by actual or sup
posed scarcity OF materials last year.
Some help comes from new iron fur-
naces that have opened OF approach
completion; some from the famine in
India, which sends hither shiploads of
hides; some from the much Increased
stocks of sheep which have weathered
the winter, and some from the opening
of new iron, zinc and copper mines.
The causes are many, but the revision
of quotations gives promise of greater
activity in all the chief industries"
Sales at Lower Prices.
The foregoing is taken from R. G..
Dun q Co.'S Weekly Review of Trade.
The Review continues:
The great iron industry has been en-
barrassed by prices for pig and billets,
which were no longer sustained by the
gradually yielding prices of products.
Considerable transactions are now re-
ported at Philadelphia at from 81 to
$3.50 per ton below recent quotations.
At Pittsburg 10000 tons Bessemer have
been sold and $4,000 tons billets, both
iron and steel being reported ST per ton
lower. The new furnaces supplying
foundry iron have been competing
sharply at the east, and small sales Of
Bessemer have been made for Pitts
burg delivery at so to IS cents below
previous quotations. Sheets are
strengthened there by the new combi-
-
large works, but with the addition of
100000 tons yearly, and its sales to the
hoop apd tin plate companies, the Ma
sionaA Steel has secured large and rich
Mines in Minnesota. Plates are still
weak, as most consumers are provided
far ahead. but, the Pacific orders cover
1000 tons, and the Chicago and North
western has placed orders in the east
for $500 tops bridge work. Rail mills
are full, but have taken small con-
tract for export, and better business
enables tin plate works which have
| been idle to resume.
Cheaper hides ard leather enable
boot and shoe makers to take contracts
for split goods at 21a cents less
than prices recently asked, and some
large sales nave resulted, giving part
of the shops work for some time. 9th
ers are getting very few orders, and
some are stopping or expected to stop
in two weeks. The yielding in split
leather began early this month and in
hemlock sole week earlier, and has
reached cent per pound, while this
week union backs and kip and glove
grain upper leather are cheaper. Hides
at Chicago have again yielded, making
3 per cent fall in a month, and 7.3 since
December 30. Supplies accumulate,
and on wharves at Jersey City 100000
sides were landed from India. Ship
ments of boots and shoes from the
east have been in three weeks &c, 1913
cases, against 243,379 in 1898, the larg-
est previous year.
| Wool Market Weaker.
AT last it is admitted that wool quo
tations, so long held, are fully cents
! per secured pound higher than prices
in large actual sales last week and
since, the decline covering grades be-
| tween 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 heavy weight goods, and then
bought no wool, the fable that their
stocks were exhausted ceased to have
force In fine medium territory sell.
| ing at So cents secured, and other wool
went down to the low grades, the fall
is general, and English markets are
also weaker. Goods Of fine grades have
been opened, with much less advance
in price than was made in cheaper
grades, but cancellations continue nu.
merous.
Prices of cotton are still advancing
the Fab River committee having raised
all its goods an eighth, and in spite OF
heavy port receipts spot cotton ad.
vanced to go cents.
| Failures in three weeks have been
,22O, against $7,129,7S0 last year
and $7,293, 439 in 1898, but in the pre-
| v;ous years they exceeded 10000, 900
Manufacturing were $2,S56,536, against
$3,643, 1854 last year, and trading were
So. s22, 800, against $3,237,472 last year
Failures for the week have been in the
United States 201, against 1911 last year
and thirty-three in Canada, against. for
ty last year.
A Viewed by Bradstroet's.
| Bradstreet's review of the state o.
trade says:
General distributive trade is o.
satisfactory volume, tho affected by
weather conditions and holidays
Sprinp business is enlarging at many
markets east and west, the presence
of buyers being encouraged by spe
cial passenger rates. A softening o,
prices of speculatively dealt in staples
is to be noted, but the reactions are
Of narrow extent. Money is steady as
a whole and no higher than weel
ago. Bank clearings comparisons arr
rather less favorable, partly because
of less pronounced speculative activity
at this time last year.
Gains in railway earnings for the
first two weeks of February are Of alb
solutely phenomenal proportions, but
it must be remembered that there were
exceptionally severe weather condi
lions experienced last year. In spite
OF this, however, 1T is to be said tina,
east bound tonnage is OF unparalleled
volume, while shipments OF spring
goods 70 the country are very large
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