The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-24
DUN'S WEEKLY REPORT.
Good Effects of the Financial Law
on Trade and Industry.

on Trade and Industry.
| NEW YORK. March 23.-Dun's Review
| tomorrow will say;
In its first week OF operation the new
monetary bill has given satisfaction at the
Treasury and 20 banks Applications for
| new per cents have exceeded $106, co.,
ooo' and the net increase in bank circu-
lation is already over $40 O00. 600. AS the
rate at which new circulation c,,u be is
| sued is limited. except for banks which
! gave orders in advance of the passage OF
| the bill. the issues at first being largely
| FOR increase of notes to the par value OF
| bonds deposited, little can yet be inferred
| regarding the increase. though applications
indicate that it will be large for interior
banks The release OF millions employed
| in preparation for action under the new
measure has caused in bank returns con-
siderable changes which are nominal
rather than real and the money markets
are undisturbed The extraordinary ex-
ports in three weeks from this port. SAB
1885. exceeding last years by Sizes, sl4,
or 6S.S per cent. have rendered the ex-
! change market weaker. in spite OF an in
crease of s996.00o. or 81 per cent in i'm
ports at New York for three weeks
Change in the control of a street rail-
way in receivers hands has not hereto
fore had such financial influence as the
acquisition of the Third Avenue by the
Metropolitan. Owing TO relations of the
parties interested with other works here
and in Brooklyn. with many Industrial
concerns, and dealings in the stock
market, the weakening Of forces working
Tor depression OF prices has been import
ant. All stocks have advanced. Third
Avenue from 81 IA last week to 112; FIVE
other street railways AID gas s1.97 per
share, ten industrial stocks. t1.S2 per
| share and sixty railroad stocks $1.66 per
share.
The reported settlement Of the Carne-
gie-Frick controversy is OF the greatest
Importance to the iron and steel industry.
Whether markets will be Immediately af-
fected Is not clear. AS yet the tendency
toward reaction Of prices continues. though
in the Pittsburg region Bessemer and Basic
pig are strong. Eastern markets are weak
or. Finished products are generally IN
changed
Cotton holds . 7-Sc, with heavy export
demand. though futures are weaker. Eu-
ropean stocks In sight with mill stocks re-
ported by Ellison cover consumption at the
rate he reports for large part, but not
for the whole of the crop year remaining.
and the visible supply in this country is
being sold at terms which make the 450, 900
Ddles exported tnlS month worth more
than 6T0,0 600 would have been worth a year
ago. when only $4,000 went abroad in the
same time. Receipts have exceeded last
years for the week. though not much fer
the month. The goods market here is only
strong in demand for immediate need few
caring to base future dealings on present
prices. while some make concessions for
distant deliveries.
The London wool sales have shown a
shade more strength than these OF last
month. and considerable American pur-
chases of some grades indicate the true po-
sition Of the prices asked here. Yet the
markets here are called stronger In tone.
The state of the goods market does not en-
courage manufacturers to pay the prices
now asked.
The advance in wheat, which followed
statements Of the quantity in farmers
hands. has net been maintained, and the
decline the past week has been i 3-Sc. corn
also yielding about half cent. Atlantic
exports were LESBOS bushels for the
week, and for three weeks only 4,762. 4s2,
against S.730,374 last year. Meanwhile Pa
cifc exports are heavy"