The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-10-30
FINANCE AND TRADE,
As Revealed BY Reports Of the
Commercial Agencies.
THE DROP IN COTTON PRICES.

1t Is Partly Due to the Yellow Fever,
But Also Indicates Belief in Heavy
CrOp-Buylng of Iron and Steel Pro-
ducts Keeps Works Well Engaged.
New York, Oct. 30.-R. G.. Dun &
Co.'S weekly review of trade says: The
testing of retail trade is in progress,
but results are remarkably retarded by
long continued mild weather, and also
by the fever in southern districts. Even
from that quarter some large orders
lately received show better distribution
than was yet expected. In spite of
unseasonably warm weather, which
greatly hinders retail dealings in win
ter goods at all points east of the
plains, the large number of supple
mentary orders with urgent pressure
for quick delivery make it clear that
the sales in many branches have ex-
ceeded the expectation of dealers, so
that replenishment of stocks is not yet
finished. Meanwhile wholesale trade
and orders to manufacturers have been
smaller than when the rush was great
est, but have nevertheless been large
for this stage, even in a year of gem
eral prosperity.
The fall of cotton to cents for spot
and 5.Ss for January. making the price
the lowest since March IA, 1895, and not
half cent above the lowest for nearly
half century, is partly due to emf
barrassments caused by the fever, but
also indicates the prevailing belief that
the quantity to come forward is large.
For two months more cotton has come
into sight than from the greatest crops
ever grown, in spite Of delays caused
by guarantees, but the unfavorable
conditions about the time of maturity
render it less likely than usual that
the top crop will be satisfactory, so
that receipts may drop off earlier than
usual.
On the other hand 1t is to be noted
that extensive labor troubles threaten
the manufacture in England, while the
lowest price ever known here for print
cloths reflects a heavy accumulated
stock Of other goods as well. The in
crease in production by the mills has
been over 40 per cent in ten years, far
beyond the increase in population. and
they consumed almost as much cotton
in the last crop year, with materially
diminished demand for goods, as in the
most prosperous year heretofore
The buying of iron and steel pro-
ducts, though smaller than of late, con-
tinues to keep works well engaged
ahead, and induces others to resume
operations. Both buyers ard manu-
facturers find it prudent to limit en-
gagements ahead, and the period Of
adjustment will make the industry
safer for some time to come.
Bradstreets' review says: General
trade retains most of the features o. Il
week ago, with a continued check to
the movement Of staple merchandise.
At larger eastern and central western
cities sales of seasonable goods have
not equaled expectations, and at none
of those points has the volume CT bust
ness increased. At Chicago, st. Louis,
Baltimore, New York and Providence
there has been a decrease in the VOL
ume of business in some lines due in
part to unreasonable weather and in
instances to the continued quarantine
of yellow fever districts. Some Job
bers at cities which supply southern
merchants have delayed sending out
travellers and in instances have re-
called travellers.
The northwest continues to make
relatively more favorable reports rs
to trade, although at Milwaukee and
Minneapolis mild weather has checked
distribution. Nearly all southern cit
les, except a few in Texas. Arkansas
and Georgia, continue to feel the in
fluence of the yellow fever quarantine,
the extremely low price of cotton and
delayed collections.