Barre evening telegram. (Barre, Vt.) 1898-19??, 1900-04-28
A REACTION
Duns Review Comments on the Bust.
ness of the Week.
STOCKS DOWN TO LOW POINT,
depressed Greatly by Closing of
Wire and Nail Mills and the Fear
or Other DiscouraginE In
dustrial Results.
STOCKS DOWN TO LOW POINT,

New York, April 2s.-R. G. Dun &
CO.'S weekly review of trade says:
Inc reaction in prices came where It
was expected lcast-in the industry more
1nliy organized than any other to check
competition and in the branch which,
'hrolgh contracts covering rodmaking
ana other machinery and through pat
ehts, seemed more fully controlled than
any other. Reduction Of 500 per ton in
WIRE nails, barbcd wire and galvanized
fence and SIS in smooth wire showed
that no control can afford to hold prices
so hlgh as to check consumption. In a
week the prices Of iron products have de-
cllhed o.SG per cent and since Feb. Z 1913
per cent. As the wire and nail prices
| nave been. relatively the highest, others
J III the iron and steel industry cannot be
expected to fall in like measure. But
| pig IRON is weakcr-No. / local coke at
'hicago H23.1o. and southern pig is also
[ lower. Plates and bars can be obtained
Tor about LIS cents in good contracts
both at the east and at Pittsburg. The
proposed advance in sheets to $40 cents
mas not been attempted, and the cut nail
mills, which have gained much by selling
at ~ cents per key below wire nails. will
now lower prices The stoppage of doz-
en- wire and nail mills besides rod mills
MT Joliet and another of the National
steel company indicates some change in
the actual demand.
The tendency toward lower prices is
strengthened by the idea that overpro-
ductlon may appear in other branches.
In cotton goods. after the rise of about
30 per cent following the advance in cot
ton. it is asked whether the surprising in
crease in southern output has not cut
of part of the demand which eastern
mills find insufficient. In staple goods
no change is seen, but in other lines and
fancy goods irregularity is increasing,
and greater concessions are made for flu
ture deliveries.
stocks Depressed.
Stocks were depressed to the lowest
point since December by the closing of
wire and nail mills and fear of other in
dustrial results equally discouragng
But it was presently seen that only the
Steel Wire company had found re.
markable reduction necessary, and with
reviving faith industrial stocks recovered
over 81 per share. The railroad stocks,
after depression in sympathy. were again
we'll sustained and closed little higher.
Railroad earnings in April have been Ill
per cent larger than last year and 22j
per cent larger than in 1898, and the
state of business may be inferred from
Chicago east bound shipments, which
were in three weeks So 1916 tons against
21S. 131 last year and 254,990 in 1888
Foreign dealings in stocks continue on a
moderate scale, purchases still exceeding
sales.
The produce market is inactive, though
wheat yielded a fraction and corn gained
l cent for the week. Exports of both
continue larger than IL year ago. Atlantic
exports of wheat in four weeks, flour in
cluded, having been S,O99,5G7 bushels,
against S,O11,4S5 last year, and Pacific
exports 2.725.13 against 1,313,S22 last
year. Corn exports in the same weeks
have been II. 432. G67 bushels against TO-
063.52 last year. Exports of mel chan
disc from New York in three weeks have
been $40 per cent larger than last year,
and with aid of the heavy cote move
ment the aggregate for the month prom
ises to considerably exceed 100000 900,
while imports here are 1876 per cent lar
ger than last year, but will fall below
exports by more than S30,OO0.O00.
Failures for the week have been 204
in the United States against 1S4 last
year and 81 in Canada against % last
year.