Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-11-16
BUSINESS FEATURES.

mally warm weather ara not calculated
! disc. especially wearing apparel and
fuel Several other staple lines are
quiet as is usual at this season, yet
the splendid profits of agricultural
communities cannot fail to put large
sums of money in circulation and pro-
| vide a market for commodities. Prices
| of all staples We're slightly higher on
| November l than a month previous,
Dun's Index number of $97.S25 COM
pairing With s97.31S. but in the past
| two weeks the level has fallen some
what. Settlements of labor disputes
| in meat packing. lithographing and
several minor Industries are offset by
new struggles in the building trades.
street car lines and coal mines, while
the cut in wages of iron workers and
spinners may result in strikes. The
time has come when the wisdom Of
labor leaders will be tested severely,
for continuance of prosperity is in no
small degree dependant upon encour-
agement of industrial activity rather
than friction. A helpful event was
the resumption of work at Montana
copper mines. coke ovens and western
stock yards. Financial conditions are
still far from easy. funds being with
drawn from this center freely, but the
low position of foreign exchange prom
ises large imports of gold despite the
opposition of European banks. Exports
of merchandise from the port of New
York alone for the last week were $3,-
74S,70S larger and imports slightly
smaller than a year ago. which ex-
plains the tendency of sterling rates.
Railway earnings for the first week
OF November were 49, per cent larger
than last year. but bank exchanges at
New York for the last week declined
2S.2 per cent compared with 1902.
Several significant events have oc-
Cured that indicate clearly the situa-
ton in the iron and steel industry.
Statistics Of pig iron production IN
October, as compiled by the Iron Age.
show a moderate reduction to 1.562,S1s
tons. but furnace stocks meanwhile
rose to 5e7.399 tons. against 5o6,s4S
tons on Oct and 203.405 tons five
NY, t.,Hv opt NJ
put was not effective until late in Oc-
tober, however and the active bias;
furnace capacity on Nov. / was only
2Se,a19 tons weekly. against 316,492 on
Oct /. Following last weeks heavy
cut in the price of billets. a reduction
Of So to Sc a ton Is announced in hoops,
hands and steel bars. while even tin
plates are 81 ton lowe.. These strik-
ing changes by the leading producers
bring list prices of finished products
and raw materials into closer harmony,
but as actual sales were formerly made
at concessions. the reductions are real
~ less significant than appear on the
surface. Meanwhile. prices of plates,
structural steel and rails are unaltered.
After the first shock of new prices was
over the markets became more active.
One feature IL the loss sustained by
iobbers and dealers who had stocks
on hand purchased above the new lev
eli, but there Is more satisfaction ex-
pressed than otherwise ever the lower
figures, since they are calculated to
stimulate activity.
With raw cotton stubbornly held at
a high position and consumers reluc-
tant to advance bids for finished pro-
ducts, it was inevitable that cost of
production must come down. Hence,
the cut In wages at Fall River mills
was not unexpected. Inquiries for cot
ton goods are numerous, but buyers
and sellers can not agree as to prices.
and little new business is closed. A.
slight Improvement IL noted in supple
mentary orders for woolens. without
lifting the market from its dull con-
dition. however.
Good news IL still heard regarding the
size Of grain crops. An official state
ment OF the corn yield per acre indi-
Gates a total OF 2.313.00o,000 bushels
more than was secured in any previous
year except the last. which was only
200, 1000, 900 larger. Wheat news is also
most encouraging as to quantity, the
only drawback being complaint of low
grading. yet 1t is reported from lead
ing northwestern -four centers that
mills are operating close to full ca
pacity. Winter wheat is freely planted,
at some points the only drawback
being a scarcity of labor, and sew
eral dispatches indicate a record
acreage sown under most promising
conditions. Lower quotations tend to
facilitate exports, which were 3,9S4197
bushels for the week, flour included,
against 3,49T,652 bushels last year and
4539295 bushels two years ago. The
wheat crop is now being moved to mar
ket more freely, receipts for the week
aggregating 9.039,121 bushels. COM
pared with s.SS4,395 bushels a year ago,