Evening journal., 1900-12-22
WEEK Of Trade

r. G.. Dun & Co. IS Weekly Review Of
Trade says: Better weather conditions
on the Atlantic seaboard and pro-
nounced activity in distribution Of all
staple lines Of merchandise at South
ern cities have impaired slightly
more aggressive tone to general busi-
ness But for the hesitation always
seen IN the larger cities in the holiday
season, the gain would have been
quite pronounced, but as It was, New
York bank clearings lost only l per-
cent, compared with the same week Of
1899, while they show a gain OF Az
per cent. over 1898. Outside of New
York the gain in clearings for the
week reached 1.3 per cent. compared
with 1899, with 17.2 per cent gain over
1898. Distinctive holiday business,
which at this period Of the season
means retail distribution, has shown
further improvement, and no complaint
is heard from any quarter, while the
jewelry trade is much more active than
for several years past. Railroad earn
ings FOR the first half Of December were
7.6 per cent larger than last year and
1875 per cent. over 1898. These are
much heavier figures than in November
DOR the same roads. Unchanged condiT
tions in the leading manufacturing in
dustry during the last week before the
holidays mean much. At this time in
ordinary years furnaces close down in
large numbers. and dullness is general
at mills and shops where iron and
steel are handled. Instead OF reduction
Of working force or Concessions inl
price this year. however. reports from
the principal cities indicate the exist
ence Of contracts that will take months
to fill, and new sales are made at the
former level, despite much talk Of
cheaper ore next year. Instead OF i
holiday quiet in the wool market the
last weeks figures Of sales at the three
chief Eastern markets amount to T.
2Ss,0OO pounds. against 6,7s5,SOO In
the preceding week, and 5,267S44 two
weeks ago, while year ago the ag-
gregate has fallen to 7,3125O0 pounds
from an average OF over 1000 900
pounds in the two previous weeks
Prices are steady. but show no recovery
from the recent decline. and manufac-
turers purchase only raw material to
fill orders"
Bradstreet's comments on conditions
as follows: "Seasonable conditions
rule in trade at present. Holiday trade
activity is widespread, and
comparisons with previous years
are favorable at most markets,
with the possible exception Of some
parts Of the Northwest, where the
Spring wheat shortage and unseason-
able weather have checked distribu-
tion. Notably cheerful reports come
too, from Western jobbers, who have
been called on for reassorting orders
and who report collections good. Cur
rent gross railway earnings are run
ming well up to or in excess of last
year, though some decrease might
naturally have been looked for. Net
earnings OF the railroads, as a /
whole, are smaller than last
year. because the decreases due to the
coal strike are now in evidence. Bank
clearings are little below those OF last
year, which. It will be recalled, were
the heaviest Of any week in 1899, be-
cause Of the swelling of bank opera
tions by the short lived December
panic of last year Speculation in the
cereals has been narrow, dull and fea-
tureles, but prices have been aided by
shorts covering en- Argentine crop re-
ports, adyices Of an exportable sur
plus from that country Of only 100000
600 bushels and the poor grade of re-
ceipts at the Northwest. Corn receipts
are large, but little Of it grades to con-
tract, while the export business holds
up the price Of the cash article Cot
ton, following the reasoning as to al
large supply being needed to satisfy
even a much reduced consumption, few
signs Of which are yet presented and
favored by smaller receipts, is slightly
higher on the week, and quotations are
now about where they we're before the
late break.