The Savannah morning news., 1901-03-02
DUN'S WEEKLY REVIEW.
steel Combine Has Not Yet Affected
That Industry-spIendid Prices



New York March i.-R. G. Dun & Co s
Weekly Review Of Trade tomorrow viii
say:
Jobbing trade In groceries hardware and
iron speciaIties has further gained in vol
ume in the East since our last report,
and retail business has been good, ex
eept for SOW movement of some de-
scriptions of dry goods, notably clothing,
Of which dealers fear they must carry un.
usually large stocks. In the West and
Southwest however. the season has been
satisfactory. The greatest industrial COM
bination ever arranged that providing
for the union Of the leading steel interests,
has not directly affected business as yet,
and may not do so. otherwise than by
removing some Of the unnecessary compe-
tition from the industry.
Nominal quotations of iron and steel
are misleading. According 10 published
lists it appears that while pig iron has
steadily advanced for many weeks. lit
tie change has occurred in finished
products This is due to the figures fixed
by the various pools and associations,
bul dL WHICH II IL lHlpoSSlDIe TO secure
prompt deliveries. Actual business is
done at extensive advances over these
prices, billets selling at $2l at Pittsburg,
or more than 81 above the nominal rate
while plates, bars and structural shapes
are only available when special terms
are offered. Even on deliv-
cries mills are asking higher
figures and every line of steel production
at Pittsburg has already covered fun
contracts for the next two months, while
there is a general feeling that material
advances will occur before May /. BESSIE
mer pig iron sold this week at Sl5.25 and
grey forge a s19; prices that have not
been equalled since early in August. Coke
production is enormous and Connellsville
prices at last show definite advance.
Further increase appears in sales of wool
at the three chief Eastern markets, $780,
800 pounds changing hands for the week,
against S,52S,500 in the previous week.
There is still no reason to believe that
the heavy buying results from better con-
ditions at the mills, as orders for goods
do not ,appreciably expand, except in a
few special lines. If manufacturers were
bidding for raw material largely the de-
cline in prices would be checked but the
average on March l was the lowest since
June, 1893. Shipments of boots and shoes
from Boston were S7,O26 cases, against S4-
vto n NCCh d6Os anu IVusoDO year deO.
Most visiting buyers have concluded sam
ping and returned home. Shops have
ample work for some time to come and
prices are well maintained. Large stocks
Of hides depress prices at Chicago, TAX
ing the average TO the lowest point since
last October
Curtailment of production by Southern
yarn mills has become general, and at
Fall River there is much discussion of
the advisability of reducing output or
lowering wages Loss in domestic con-
sumption of raw cotton seems assured
and foreign buying is far from satsfac-
tory. The position of this stable is not
made firmer by news that sale of fertl-
lizers surpass all records in many of the
Southern States. u
Grain markets are firmly maintained.
Domestic crop conditions are encurag-
ing and the best explanation of
strength is found In Atlantic exports dur
ing February, of wheat, flour included,
amounting to 10 34s,204 bushels, against
7671, 552 last year and 14730, 262 bushels
corn, against 12,724,645 in 1900.
Commercial failures in February were
1,O2s in number and 1.2s6211 in amount,
compared with 1242 in January with La
bilites of 81 ,220S11.
1t is worthy of note that nearly q third
of the liabilities in manufacturing fail
ures were due to single bankruptcy of
of railway contractor, while not one of
the 757 trading defaulters owed as much
as 100000.