Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1900-06-21
TRADE. 4 !, j J / TOTAL
It Declines by Reason Of Sag
ia Prices.
SPECTATORS ARE TIMID
Iron Output Runs Ahead of Sales, Cot
ton Seems Weaker and Grain Is
Doing Well un's weekly
Review.

New York, June 16.-A season of
declining prices is never wholly agree
able 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 thru read justment
of prices. The highest prosperity the
country had ever reached, prior to the
panic, was in 1892. with prices averag-
ing not quite 75sper cent OF their aver
age in 1860. After great depression
or several years the highest point
reached within the last years recov-
cry was so per cent on March 16, but
the gradual yielding has already re-
turn the general averag of prices to a
Shade less than Is per cent, practically
where it was with the highest pros
perity in 1892"
Iron Prices Changing.
The foregoing is from R. G. Dun &,
Co.'s weekly Review of Trade, which
continues:
The out put of iron furnaces June
N was 296,376 tons weekly, an increase
of 1926 tons, making the yield only
1858 tons less than at the highest
point ever reached, Feb. L. But the in
crease of unsold stocks to 339,4s0
tons, about $4,000 tons in May, dis
closes larger decline than was ex-
pected in the new business, upon which
nearly all the works and furnaces have
now to rely, and reports that furnaces
50of considerable capacity have already
been closed this month seem likely to
be correct.
Within a week or two the labor or
CARNATIONS and the employers will be
discussing new demands for higher
wages and shorter hours, and the
closing OF many works for lack of or
ders will have much influence about
that time. Prices are gradually chang
ing, anthracite No. i to $40 and Pitts
burg gray forge to $17.50. After the
closing Of furnaces and works has
more nearly adjusted present supply to
the demand, the fact that many large
operations are held; back until prices
have been readjusted will have It's
proper influence.
The boot and shoe branch has been
hindered more. than any other manu-
facture this year, perhaps by difference
as to -prices- Hides at Chicago and to
some extent in eastern markets have
yielded for months past, giving to
dealers in boots and shoes belief that
the high prices demanded early this
year would not be held. The leather
companies, however, have at times
made large concessions, but in general
have resisted decline, with the reas-
oning that the real difficulty is in the
scantiness of buying demand, and it
is urged that wholesale and retail deal
{ ers have on hand too. large stocks
taken when the great advance was in
progress.
Cotton Trade moves Slowly. h.
Reconstruction moves slowly in cot
ton goods, tho a few quotations are
slightly reduced, the uncertain shift
ing in the market for raw cotton hav-
ing some influence, and the hating OF
exports to China on account Of the
interior strife there. AS European
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, altho their
stagnation, with irregular prices for
1 goods beyond the most favored staples,
still indicate a downward tendency.
Silk and hemp have also gone lower,
and the recent fall in rubber helps new
business.
Wheat has been advanced nearly 8
cents with ACCOUNTS of excessive injury
to growing grain, and the exports
from Atlantic ports, flour included.
Z have been in two weeks of June $685.
1877 bushels, against 3,526,s01 last year.
Pacific exports 1,515,3SS, against 1885,
512 last year, and corn exports 6,00O,-
462 bushels, against 5,s12,959 last year.
The active movement from,the farmers
seems to discredit many accounts of
injury, altho receipts have been some
what smaller than last year.
Failures for the first week of June
were in amount $2,11S,S10, of which ST.
O92,ST0 were in manufacturing and
for the week have been 1862 in the
$s33,236 in trading concerns. Failures
United States, against 1876 last year,
and twenty-one in Canada, against
eighteen last year.
Weekly Bank Statement
New York, June 16.-The weekly
bank statement. follows: Surplus re-
serve decrease, $s75,5oo; loans increas-
ed, $3,24s,3o0s deposits increased, 3d.
024,s0O. The banks now hold ST ,49S,-
$50 in excess of legal requirements.
Labor Temple for Des Moines.
Des< Moines, June 13.-River front
improvement promises to be given adj
ded impetus by the erection of a $50
600 labor temple within the present
year. At an enthusiastic meeting of
the Des Moines Trades and Labor As
sembly yesterday it. was unanimously