Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-03-10
REVIEW OF TRADE.
a SHRINKAGE IN THE VOLUME OF
BUSINESS.

BQSlN ESS.
tBy Telegraph 10 VlrEIrIan- Pnot)
New York, March Or G.. Dun G.
Co.'S Weekly Review of Trade to-mor-
row will say:
~ certain hesitation in business with
shrinkage in its volume is not unusual
nor unnatural at this season. 1t is not
necessarily disheartening, therefore, il
business is no longer so large in vol
umc as ever, but falls behind that of
February or January, or of the CORES
Donding week last year. Strikes in
building trades or of machinists and
others at Chicago affect many indus
tries ana the wages of fifty thousand
hands. The remarkable rise in cotton
has apparently met the expected reac-
ton which tends for the time To re-
tons are striving 10 hold prices without
regard to present demand, hoping that
the needs of consumers may prevent
reaction and renew the rise of last
year Wide differences OF opinion also
exist regarding the effects OF monetary
action by Congress.
special causes are not needed to ac-
count for some pause after n year of
unprecedented buying. That such trade
could not continue without 4 pause was
evident, and there is now not the cx-
ccssivc speculation which threaten
monetary trouble a year ago.
The output of iron furnaces March
LIST was 292,6iS tons weekly, against
2SOli February 1st and unsold stocks
Increased 35,5lG tons in February, max
ing consumption 1921 tons daily.
against il,G+2 tons in January
Much business is evidently deferred
just now because of doubt regarding flu
turc prices. Coke is hard to get, even
al $3.50 for furnace
Cotton sold Monday AT 9Sl cents. the
ifTb Nitnt Oil,
when the crop suddenly fell from 9,001-
600 to 100000 bales. y sharp reac-
ton came Wednesday. and The prices
dropped three sixtccnths that day and
closed onc-uuarter below the highest
point. While the demand for immcdi-
atc use has held goods strong. There
has been for some time small desire TO
make contracts ahead
Estimates of wheat in farmers hands
March l, 1G! 100000 bushels, according
to the American Agriculturist. do not
indicate q lack of supply this year, for
with 81, 100000 bushels in visible stocks,
there is in sight nearly as much as a
year ago, when foreign demands were
extraordinary, and vel the crop year
ended with over S3.00O,000 bushels in
visible supply. This year net exports in
seven months flour included, have been
1ii22l, $50 bushels, against 1i9,9l6,407
last year, and in February enough to
make about 125, 900, 900 bushels. against
100 900 900 last year with no indications
of future foreign demand approach
ing that of last year from March to
July j.
Returns as 10 the conditions OF win
ter wheat arc also satisfactory. But OF
late prices have been very low, and
have advanced this week nearly three
cents for spot and one cent for May
options.
London wool sales, so long awaited by
SPECTATORS here to lift up prices, again
opened with a severe decline OF az to
10 per cent, causing much disappoint-
merit that much seeing is likely, espec
rally as manufacturers who have held
out of the market for some months have
still too large stocks of wool and too
uncertain market for goods to be in
ha1te. Prices had previously declined Il
!yttle here. but with small transactions.
Inc business in goods, though less ac-
tive than has been expected, is 1t fairly
steady prices as yos.
In boots and shoes no change appcars
in quotations. though not an eighth of
the usual orders for boots has been
given and not a. quarter for mems or
wonen's heavy shoes. while the demand
for light shoes has been the smallest in
live years. Shipments on former orders
have been less than in 1898. but larger
IMAM in the corresponding week of ony
other year.
Failures last week We're I'm amount
sS.4S2, S27 manufacturing S1.11S.651 nna
trading $2,161,e11 Failures for tho wae,,
nave been 205 in the United States
AGAINST 1S2 last year. and SO in Canada
against 81 last year