New-York tribune., 1900-04-16
MONEY AND BUSINESS.

leum wool silk and india rubber was the most
important change last week. Though slight,
these changes all helped to place the industries
on a more wholesome footing, though more are
needed and in the direction greater
changes in leather and hides and a few other
materials Cotton need not be included, the
spinners of this country have had opportunity to
take all the supplies they need until next Sep
tember. It's price again a sixteenth on
specua tive transactions. and with some i'm
provement in quality the quotations for hides at
Chicago slightly, while split leather is half
a cent dearer. The concessions in wool since
April 1 have averaged about a third Of cent
since holders find that millers are not compelled
to buy for the current season, expected
Competition OF outside producers causes reduc-
ton of anthracite stove size to So 80 net in the
harbor, and, after seventeen weeks without
change. refined petroleum has dropped from 90
cents to O. cents. Italian silk is al bout II cents
lower. and No. l Lehigh iron is quoted at S23
against $50 about January l. After every alb
normal rise, however legitimate its cause.
adjustment of prices for materials is necessary
before full orders for finished products can be
expected.
ME weekly output of pig iron, only 2S9.4S2
tons. >Sanst 292, ,643 March l, resulted from
the stopNage of a few furnaces in the central
region. while as many others started, of which
though the others were small There also
a general decrease in output of the fur
running, owing to irregular supplies of
coke and The known stocks unsold in
creased only 12,2SO tons during March, but
nearly the whole production is distributed
on orders covering long time to the various
consumers, their stocks which not reported
must have increased largely. If accounts such as
those of THE Iron Age rightly describe the
to that paper terms the demand ''frghtfully
small" and attributes the fact to general belief
that current prices cannot be maintained. But
the combinations hold sheets. wire and wire
nails. tin plates and structural forms without
change though the Eastern Bar Association is
called practically dead as refined iron is selling
below its figures. Billets are also quoted ST
lower. $50 at Pttsburg.
Considerable business Is being done in boots
and shoes. it is stated, at prices below the ad-
vances asked with the understanding as
to the difference that the makers shall take II
out of the shoe" This means that dealers do
not find it practicable to establish the higher
retail prices which the makers claim they are
compelled to charge by the advance In materi-
ais. But new orders are remarkably light for
the season and shipments from Boston in two
weeks have been 16 703 cases, or per cent less
than last year. while the decrease in recent buy
Ing appears to have been much greater
Whether the leather producers are wise remains
to be seen: their prices only 316 per
cent below the top, though the average for hides
has declined in the time II u per cent at
Chicago.
The strong assertions by some woollen and
cotton manufacturers as to the state of their
mills have been and running short time or
not at all. and seeking orders without success
Thus The Financial Chronicle says of the
drygoods market, the recorder demand for
"seasonabe and for staple fabrics has been
checked; the movement to consumers has
failed to come up to expectations so far this
season: there some lines OF fancies both
"woollen and worsted. which have not done we'll
and for which further orders are being sought
"at irregular prices" and the home demand
for brown sheetngs is dull and on forward
contracts sellers are easier to deal with" Not
a sale of regular print cloths has been reported
Fall River for several weeks. However men
in speculation try to deceive themselves 1t is
natural that with cotton and wool at present
prices buyers OF goods would be inclined to walt
IL retail distribution had been satisfactory, but
yet it has not. Sales OF wool small with
frequent concessions known and other sales at
prices not known.
The cotton situation is of anxiety for for
eign spinnerS only. They held In mills. accord
ing to Ellison, $50 900 bales of 800 pounds
March /, when commercial stocks Of American
abroad and afioat /, 721 900 bales but In
March 62S,2O2 bales were exported from this
country to Europe. and in two weeks of April
2I4, I53 have been exported. nearly all to Eu-
rope. which would make a supply of nearly
3,459 600 bales for consumption after March I
If Ellisons estimate OF 122 900 bales weekly for
European use Of American cotton was correct
the quantity required until September l has
now been exceeded. but $40 coo bales is held
abroad in commercial hands or adoat and IL
miers buy cheaply' here they will,
Only 13S. l91 bales have come into sight since
this month began. against 227, 236 last year but
the price apparently rose because some people
had sold more than they owned
The exports OF wheat this month have bean
6.733.6l8 bushels, flour included against 3 36S
419 last year, partly making up the decline In
March, when only 13,0S9.4 464 bales went out
against 1864 22l last year. This makes the
total imports thus far IA 503.359 bushels this
that the years exports may be about 1SO OOO Oon
bushels. The price yielded last week small
fraction. Corn exports this month have h.en
I.18l,O34 bushels, against 1890. 40 last wear
which with 14756355 In March, against III
131, 1876 last year makes 1T0+7S 492 bushels for
the year thus far against 131 .445.3 last wear
This promises years total very close TO that OF
1898, which was 2l2, 600 bushels The price
declined during the week half cent