The times. [volume] (Richmond, Va.) 1890-1903, 1900-03-24
+. G. Dun S'NEEkLY
REVIEW OF TRADE {.
Monetary Bill Satisfactory to Treasury.
and Banks.
PRICE. OF COTTON HOLDS FIRM,
The Advance in Wheat Which Fol-
lowed Statements Of the Crop in
Farmers Hands Has Not
Been Maintained.
NEW YORK. March Pr. G. Dun &

NEW. YORK, March 23.-R. G. Dun &
COS weekly Review of Trade tomorrow
will say:
monetary bill has given satisfaction 10 tue
5Treas ury and to banks Applications k1or
new per cents have exceeded sico'Vo,oVV'
and the net increase in bank Circulation
is already over fl0.ooo.o0o. As the rate a.
which new circulation can be issued is
limited, except for banks which gave Or
ders - advance of the passage OF the
bill, and the issues at first are largely
for the increase of notes to the par value
of bonds deposited, little can yet be IN
ferred regarding the other increases,
though applications indicate that it will
be large for interior banks. The release
of millions employed in prepare ton for
action under the new measure has caused
in bank returns considerable changes
which are nominal rather than real, ana
this money markets are undisturbed.
The reported settlement OF the Carnegie
Frick controversy is of the greatest I'M
portance to the iron and steel Industry
The combination Of interests may prove
revolutionary in its influence. Whether
markets will be Immediately affected is
not clear. AS yet the tendency toward
reaction of prices continues.
COTTON IrIRM.
Cotton holds a 97-S for spot, with
heavy export demand, though futures are
weaker. European stocks in sight, with
mill stocks reported by Ellison, cover
consumption at the rate here for a large
part, but not for the whole crop year re-
manning, and the visible supply in this
country is being sold at terms which
make the $4,000 bales exported this month
worth more than 100000 would have been
-, u n nm
abroad in the same time.
Receipts have exceeded last years for
the week, though not for the month.
The goods market here is only strong
III demands for immediate need, few
caring to base future dealings on pres
ent prices, while some make, concessions
for distant deliveries.
The London wool sales have shown a
shade more strength than those of last
month, and considerable American pur-
chases of some grades indicate the true
position of the prices as asked here.
Yet the markets here are called stronger
in tone, although of the sales exported
much the greater part We're at con-
cessions. and manufacturers are doing
very little. Sales at the three chief
markets were only 4.s0o,SOO pounds; of
which $500 were domestic. The
state of the goods market does not en-
courage manufacturers to pay the prices
now asked, and the business is still dis
appointingly restricted.
DECLINE IN. WHEAT.
The advance in wheat which followed
statements of: the crop in the farmers
hands has not been maintained and the
decline the past week has been 1 3-S
cents. corn also yielding about 1-2 a
cent Atlantic exports were 1,753 ,02S
bushels for the week, and for three
weeks only 4.7G2,4s2 against s,73o,374 last
year. Receipts at western points in
three weeks have been u,977,231 against
10,1S0,957 last year.
Meanwhile Pacific exports are heavy
and in three weeks have been 2,1S3, 523
bushels against 1.656,277 last year. The
foreign demand for corn still lessons, al
though 2,942717 bushels went abroad dur
ing the week, and in three weeks $780,
$40 against II, 1904 last year.
Failures for the week have been 1888
in the United States against 200 last year,
and q in Canada against "a last year.