The times. [volume] (Washington [D.C.]) 1897-1901, 1900-09-15
DUN's REVIEW OF TRADE.
Attention MonopoIixed by Coal
Strike and Cotton situation.


NEW YORK. Sept. 14.-R. C. Dun &
Co.'S weekly review of trsle tomorrow
VIII say:
the tropical storm that devastated
the Gulf Coast. almost wipiug out the
city of Galveston. and doing damage in
other parts of the country, caused reduc-
ton in the volume of business at the
South The railroads in the Gulf region
have probably not shown their maximum
losses of earnings as yet. but even nfter
sucn catastrophe recuperatiye power
Is shown
An added cause OF hesitation in busi-
ness is the order for strike of anthra-
cite coal miners, though tdsre is seme
doubt whether the command 20 lay down
tools will be very generally ~obeyed, and
stocks of coal above ground have been
much increased in expectation of this
trouble. Otherwise the working force has
increased this week Operations are re-
suming at steel mills. and the Michigan
Peninsular Car plant and the Deering
Harvesting Works have started up after
several weeks of idleness, with 5000
hands each.
AT New York bank clearings for the
week decreased 1926 per cent from a year
ago, and 122 per cent from two years
ago, while at leading cities outside OF
n
cent from one year, but a gain of 1873
per cent from two years ago.
Cotton closed last week at the highest
price in ten yers. and a large short in
terest was awaiting reaction Instead
there came news OF the disaster in Texas
and sensational reports that million
bales had been destroyed. At the New
York Exchange trading was far in excess
of all previous records. and prices rose
by bounds. subsequently there were less
exaggerated reports from the South. but
the market failed to respond, and mid
ding uplands advanced to II cents.
The rise in the raw material caused
sharp advances in cotton goods Buyers
who have been delaying for weeks are
anxious to secure liberal supplies.
Stocks in first hands were cleaned up,
and sellers generally withdrew from the
market.
Wheat rose above so cents again. in
the face of the receipts for the crop year
thus far S,415.956 bushels larger than
last year, while exports decreas d 10.2j1.-
37S bushels. including flour
More orders are being received at
iron mills, and prices are steady. In
structural and finished material there is
much business. and activity is tecomfng
almost universal from the iron region.
Shipbuilding was never more active, and
feature was contract for coal pier
to be used in the export trade.
Boots and shoes begin to recover
after many weeks Of idle wheels thr ugh
out New England Orders are coming
forward freely. and a return to normal
conditions is in prospect.
international finances begin to have
an active interest here. The Bank of
England has been a borrower of money
in the open London market at stiff ming
rates, and the inference is that some
new conditions making fer higher figures
may develop. Reports are confirm that
a block of German war bonds are to be
sold in New York. but in the present sit
uation payment for these will probably
be made in exchange bills and not in
gold. Money is a shade harder. but loans
over election are easily arranged
While Wall Street is becoming d.s-
couraged by protracted inactivity. prices
do not yield largely. ard London b5u h
about 10000 shares on balance.
Failures for the week were 1876 in the
United States. against 1i9 last year. and
80 in Canada, against 30 last year"