The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-24
DUN'S WEEKLY REPORT.
Good Effects Of the Financial Law
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 to banks Applications for
new per cents have exceeded S106 COO.
/ 600, and the net increase in bank ctrcu-
lation is already over 10000. O0o. As the
rate at which new circulation can be is
sued is limited. except for banks which
gave orders in advance OF the passage OF
the bill. the issues az 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 n real and the money markets
are undis,urbed The extraordinary ex-
ports in three weeks from this port. S43.-
s16. sos, exceeding last years by S17,09S sl4,
or SIS per cent. have rendered the eX-
change market weaker. in spite Of an in
crease Of 1895 coo, or 81 per cent in i'm
ports at New York for three weeks
Change in the control Of a street rail-
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 "a IA last week to liz; FIVE
other street railways and gas s197 per
share. ten industrial stocks, S1.Sz per
share and sixty railroad stocks $l.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 az
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
er. Finished products are generally IN
changed.
Cotton holds 9 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 a 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 i50.0 900
bales exported this month worth more
than $4,000 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 puT-
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 rot en-
courage manufacturers to pay the prices
now asked.
The advance in wheat. which followed
statements Of the quantity in farmers
hands has not been maintained and the
decline the past week has been 3-Sc, corn
also yielding about half a cent. Atlantic
exports we're LESBOS bushels for the
week, and for three weeks only 4,I62 4s2,
against s.73O,374 last year. Meanwhile Pa
cifc exports are heavy"