The Oskaloosa herald., 1900-07-05
-, 0rvn
UNCERTAINTY FELL.
An Outline of the Situation in Com
mercial Circles.

New York June 30.--R. G. Dun & Co.'S
Weekly Review of Trade says: "'Fhe country
begins to feel some of the effects of its new
place among the nations, Influences af-
fecting its business during the week
ranged all the way from boycott at st.
Louis TO war in South Africa and from
sun spots to the relief Of Picking. DrouShts
and sun spots have played their part be-
fore, but none can quite foresee all the re-
suits of defending American rights in
China. Political influences also tend to
color current opinion about most things In
presidential years. All these and other In
fiuences work together to create state OF
uncertainty until the controversy is over.
1.-THE long effort to hold nominal prices
for iron at Pittsburgh has ceased, and the
associations now recognize an open market
in which Bessemer is offered at $40 and bill
let's at SIG, with grey forge at S7. Scarcely
a single transaction is reported, buyers abb
staining even more than when prices were
purely nominal, and while there are many
considerable contracts waiting for safe
basis in cost of material, the problem is
rather difficult one. over 30 furnaces are
said to have gone out of blast, and while
some have been stopped for repairs, many
more will be idle for a time until wage
scales for the coming year have been set
tied with labor organizations. With
proper adjustment of supplies and prices
TO the actual demand heavy business is
possible, but delay at this season may af-
feet prosperity for some time to come.
Neither official nor unofficial accounts
have removed doubts about the wheat crop,
and If II proves as low as one estimate, 46O,-
900, 900 bushels, the extent to which 1t may
now be displaced in European consumption
by corn will be seriously tested. Exports
of wheat and corn were 429, 0O0, 900 bushels in
1885, and 400, 0OO,0 900 in 1899, and have been
about 100 900, 900 bushels and 2lO 900. 900 bush
els of corn in the crop year 1900, but never
as large before, for in 1892, when 225, 900, 900
bushels of wheat went abroad there were
only 70, 100000 bushels of corn But all re-
cent estimates of production have been so
far distrusted, and it is scarcely good sense
to base grave apprehensions on any so
early in date, and the census this year will
be awaited with especial interest because
1t will help to show how unworthy Of re-
lance some estimates have been.
Failures for the week have been POI in
the United States, against 1Sl last year, and
q in Canada, against p last year"
Bradstreet's says: "Distributive trade is
dull seasOnably so in most instances, and
prices of manufactured products are gen
orally weak, but exceptions to the former
are found where crop conditions are excep-
tionally promising, and in the case of
prices where the readjusting movement
| has been overdone on the down side. The
upward rush of wheat prices eliminated
| at the close of last week. and the reactions
and irregulaTity since, mainly due to heavy
| realizing, would point to the movement
| having been temporarily at least overdone.
Reports of rain in the northwest, though II
| is claimed too late to help the crop in Min
nesota and the two Dakotas have had some
reassuring effect, and second thought APP
parently inclines bears to the belief that
| the late advance discounted much of the
expected, or predicted, shortage in the
| yield of the worlds crop. Advices from the
northwest are of little more than half a
| crop of wheat, but estimates as to the out
turn in bushels vary accordingly as the
| government report of 100000 bushels or
| the commercial estimate of 200, 100000 bush
| els yield last year in the three states are
| used as a basis.
"A short lived scare on the reports OF
| dry weather in the corn belt sympathy
with the early advance in Wheat and, what
is more important, apparent increased
Popularity of corn on home and export ac-
count was responsible for this cereal reach
| ing the highest point paid for year past
| Oats and other farm crops also sympa'
thized, as did most hog products"