Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1903-07-09
OUTLOOK IS BRIGHT
YEAR OPENS UNDER AUS.
PIcIoUs CONDITIONS.
WEATHER CONDITIONS IMPROVED
Trade Outlook is Exceedingly Good
Crop Indications Are Far Better in
Yield Than Was Expected Earlier in
the Season.

+ i
New York, July Ar. G. Du & Co.'s
weekly review of trade says:
"a new fiscal year has commenced
under more favorable auspices than
appeared possible short time ago,
the Improvement being due in no small
measure to the greater conservatism
that was an outgrowth of unsettled
conditions. Seasonable weather has
also contributed to the better distribu-
ton of merchandise, besides encourage
ing bouyant sentiments in the agricul-
tural districts. Railway earnings and
output of pig iron were larger, while
insolvencies were fewer. Earnings OF
railways thus far. reported for June
surpass last years by 10 per cent, and
those of 1901 by 1914 per cent.
In Iron and Steel Lines.
More inquiries for pig iron have APP
peared, and, although actual contracts
are for comparatively small quantities,
the tone is distinctly better. Bessemer
iron is not offered for the third quarter
by the association, and orders accepted
for early delivery are taken by middle
men who have stocks on hand. The
situation has been complicated during
the last week by the strike of coal min
ers in Alabama, which threatens to re-
strict the output of southern iron. In
SO far as quotations are concerned, this
is Strengthening factor, and is also
calculated to bring considerable bust
ness that is being held back in eXpec-
tation of better terms.
'Steel rails are still the best feature
in the markets for finished products.
Fully 100000 tons are now booked for
next years delivery, and many orders
for 1903 will be carried over. Struc-
tural material moves freely, consider
ing the labor situation in the building
trades, while there is notable activity
in bars, and especially for agricultural
implements and machinery works.
AS to the Leather Trade.
Footwear manufacturers in New
Egland have received liberal supple
mentary orders for fall shoes from
eastern jobbers in addition to a fair
supply OF contracts already on hand.
A quiet season in the leather market
has produced small concessions in the
prices Of hemlook sole and oak belt
ing butts, while harness leLther is now
the most active feature. Both domestic
and foreign hides average small
fraction lower for the week, with a
large transaction in goods damaged
by foods the chiefifeature. Slight adj
Ivancesoare recorded1inNs some divisions
of the cotton goods market, but the
changes are practically normal
AS Seen byb,Bradstreet's.
| Bradstreet's says: y +
Warm, forcing weather has been
| the keynote OF the situation, this week,
inducing favorable, conditions for the
| winter wheat harvest, engagements
| In retail trade in SUNNI Ell goods, gen
orally heretofore backward, and, what
is most important of ALL bringing about
a much more cheerful feeling as to
| the future outlook for business gen
orally.
additional reports as to six months
| trade are quite favorable, despite ear
| lier unfavorable conditions. June bank
clearings, though aided by stock, grain,
AND cotton speculation, large semi-an-
nual disbursements, and the pulling
| through of large dealings, have not
been wholly dependent thereon for the
| marked expansion shown over last
| year.
Failure returns are also favorable
| in that six months embarrassments
Were the smallest in number reported
/ in twenty years, though a compare
/ lively few large suspensions, widely
separated and generally unrelated to
each other, swelled liabilities per
cent above those of last year. Gen
| orally speaking, the second half of the
year opens auspiciously.
"a slight decrease in sugar, design
ed to encourage backward demand, is
noted. Yellow pine and white pine
lumber is weaker at the west, but I'M
1 changed at the east. while hardwoods
are generally firmly held.
Better Feeling in Iron.
aside from the continuance of the
slightly better feeling noted in iron
and steel circles last week, develop
ments are few. New buying is still
small, though better than for some
/ weeks past Better crop reports and
4 the placing of large rail orders, in all
4 100000 tons for next year are a
4 source of confidence. Foreign iron and
4 steel are apparently out of the market
4 to stay Hardware is in better demand
4 though not as good as a year ago, but
manufacturers are reported to have
agreed to maintain prices at last
4 years rates. Copper is weak, with
rumored sales at quarter cent reduc-
ton. and tin is lower on liquidation.
4 Shoe. shipments last week were
among the heaviest in years.
sBusiness failures in the United
States for the week ending July mum.
Der 1872 against Ill lest week, 1873 in
the like week of 1902, las in. 1901, LAG
in 1900 and 1856 in 1899.
Exports of Grain.
Wheat, including flour, exports for
the week ending on July 2 aggregate
2,966.6S2 bushels, against 3,51S, 1862 last
week, 3,211,215 this week last year and
l3,7S7, 500 in 1901. Wheat exports for