Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1900-02-24
PRICES ARE YIELDING.
Dun's Review Says 1t May BE BAD For
the Spectators, hut Good For
the Country.

New YORK. Feb. PR. G. Dun &
Co. S weekly review Of trade issued to-
day said in part:
Prices in materials are yielding. If
not the best news possible for some
spectators, it is the best that could
come for the country, since industrials
could not long prosper without reaction
FROM the extreme prices caused by act.
ual or supposed scarcity Of materials
last year. Some help comes from new
iron furnaces that have opened or APP
proaeh completion; some from the fam
inc in India, which sends hither Ship
loads Of hides; some from the much in
creased floclts 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 III all the chief indus
tries
The great iron industry has been en-
barrassed by prices for pig ana billets,
which were no longer sustained by the
gradually yielding prices Of products.
Considerable transactions are now re-
ported at Philadelphia 81 90 to 81 so per
ton below recent quotations; at Pitts
barg, 20 900 tons Bessemer have been
sold and $4,000 tons billets, both iron
and steel, being reported S1.00 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 Pittsburg
delivery at 40 to IS cents below previous
quotations.
Sheets are strengthened there by the
new combinations. though it does not
embrace some large works, but with
this addition of 50o,000 tons yearly and
its sales to the hoop and tinplate COM
panies, the National Steel has secured
large and rich mines in Minnesota.
Plates are still weak as most consum-
ers are provided far ahead, but the Pa
cifie orders covers 1000 TONS and the
Chicago and Northwestern has placed
orders to the east for S., 900 tons bridge
work. Rail mills are full but have
taken small contract for export, and
better business enables tinplate works
which have been idle to resume.
At last it is admitted that the wool
quotations SO long held are fully cents
per secured pound higher than prices in
large actual sales last week, and since,
the decline covering grades between
one-quarter blood and lower, which is in
demand and scarce, and fine fleece
graded Xxx and above. The explana-
tions 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 ex
hansed ceased to have force In fine
medium territory selling at So cents
secured, and other wool down to the
low grades, the fall is general, and Eng
hsh 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 CON
tinue numerous.
Failures in three weeks have been 81
24l,230, against 81, 1879, $50 last year, and
s. 293, 439 in 1898, but in the previous
years they exceeded $40, 100000. Manu-
featuring We're 1856, 536, against 49,
CAB. S64 last year, and trading were SO,
S22, $50, against So, Az last year.
Failures for the last week have been in
the United States POI, against 1911 last
year. and SO i'll Canada, against 30 last
wear