Cottonwood report. [volume] (Cottonwood, Idaho) 1893-1901, 1900-06-01

r. G. Dun G Co.'s Weekly Review of
Trade for the past week says:
Gold begins to go abroad and prices
Of iron products break sharply in the
same week. Four months of the new
not so expand as to need the large in
crease of circulation which the new
monetary bill had permitted, nor
enough to sustain all the extraordi-
nary advance In prices last year. The
abundance of gold and of currency and
the large disbursements by the treas
ury In exchange Of bonds have rem
dered rates for money unusually low
for the season here, while rare indus
trial and speculative activity in Europe
with the war in South Africa have
tended to make money dearer abroad.
So new gold from Alaska answers the
loss Of supply from the Transvaal and
America, building up In credits abroad
breastwork against prostration in
future here as In the past, caused by
the troubles in Europe.
The reaction in prices came where
1t was expected last in the industry
more fully organized than any other
to check competition and in the branch
which, though contracts covering rod
making and other machinery and
through patents, seemed more fully
controlled than any other. Reductions
of $50 in nails, barbed wire and gal
vaniZed fence and $18 in smooth wire
showed that no control can afford to
hold prices SO high as to check con-
sumption. In week the prices of iron
products have declined 5.S6 per cent.
and since February Z, 10 per cent. AS
the wire and nail prices have been
relatively highest, others In the iron
and steel industry can be expected to
fall in like measure. But pig iron is
weaker. No. local coke at Chicago
Is $3.50 and southern pig is also low.
er. Plates and bars can be obtained
for about 1.8 cents in good contracts
both at the east and at Pittsburg. The
proposed advance in sheets to SO cents
has not been attempted and nail mills,
which have gained much by selling at
Z cents per key below wire nails, will
now lower prices also. The stoppage
of dozen wire and nail mills besides
rod mills at Joliet and another mill of
the National Steel Company indicate
some change in the actual demand. In
the minor metals the only change has
been In tin, which declined rather
sharply to $29.75 in sympathy with
lower London quotations.. The ten
dency toward lower prices is strength
ened by the idea that over-production
may appear In other branches.
Wool has not changed in quotations,
though some sales of fair amounts are
reported at such prices as 81 cents for
Ohio Xxx and IS cents for clothing, ter
ritory cleaned, but manufacturers are
not disposed to do anything and the
west asks prices which dealers have
no reason for paying. The demand for
wooden goods is small, and except in
staples, which are steady because well
sold up. prices are not encouraging.
Shipments of boots and shoes from
the east in four weeks have been 306.-
232 cases. against 330,49S cases last
year, 304, 061 cases in 1898 and less in
any other year. New business bears
~ PASPoA eAOh W tuc pTOSouL output,
and the number of works which are
closed or running part time is increas-
ing.
Manufacturers realize that this is
result Of prices asked and of slow re-
tail distribution and long stocks re-
naming on hand. but claim that lower
prices can not be made without loss.
Business in sole leather is reported
fair and prices do not yield, but up
per leather is dull.
The produce market is inactive,
though wheat yielded a fraction. Ex-
ports continue larger than in four
weeks (fiour included) having been
S.S67.s77 bushels, against S.017,4s5
bushels last year and Pacific exports
2,725.196 bushels, against 1,373,922
bushels last year.
Failures for the week have been 204
in the United States against 1874 last
year and so in Canada against 20 last
year.
InMw~w