The true northerner., 1900-09-21
TRADE REVIEW.
The Galveston storm and Coal strike
A6ect business.


X. G.. Dun q Co.'S weekly review or
trade to-day says: The tropical storm
that devastated the gulf coast almost
wiping out the city OF Galveston ana
doing damage In other parts OF the
country caused reduction in the volume
of business at the south and railroads
In the gulf region have probably not
shown their maximum losses or earn
ings as yet but even after such ca
tastrophe recuperative power Is
shown An added cause of hesitation
in business Is the order Tor strike or
anthracite coal miners. Otherwise the
working force has increased this week,
for operators are resuming 1T steel
mills and the Michigan Penlnsular car
plant and the Dcerlng harvester works
have started up after seven weeks idle-
ness with 1900 hands each. From
many quarters of the west and south
west a better distribution of merchan-
disc is reported Ina jObbin& and retail
circles The weather has continued
favorable for the maturing corn crop,
with cutting progressing and the crop
generally beyond danger; but damage
10 cotton by the storm is still an un-
known quantity. Prices Of staple COM
modfties are higher for the week;
hoiSted 10y the sharp rise in cotton, but
in manufactured products there is lit
tie change, though steady increases OF
business at current level Is satisfac-
tory.
Cotton closed last week ut the high
est price in ten years and large short
interest 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. Subse-
quently there were less exaggerated re-
ports from the south, but the market
failed 10 respond and middling uplands
advanced 10 IL cents. The rise in the
raw material caused sharp advances in
cotton goods. In one week standard
brown sheetings rose from 5.6I To
cents, wide bleached sheetings from
20 cents To p cents, standard brown
drills fro 5.67 cents 10 5.S7 cents, and
staple ginghams from ) rents TO $50
cents. Buyers who have been delaying
for weeks are anxious 10 secure liberal
supplies. both instant and distant
Stocks I'm first hands were cleaned up,
and selling generally withdrew from
the market Wheat rose above so cents
again, in the face of receipts for the
crop year thus far S,415,9J6 bushels
larger than last year, while exports de-
creased 1O,251 1913 bushels, including
flour. Reports of heavy rains in some
sections and injury TO the crop, with
better inquiries by foreign houses, eX-
plain the advance. More orders are be-
ing received at iron mills, and prices
are steady. In structural and finished
material there is much business and
activity IS becoming almost universal
in the iron region. Steel rails are wait
ing for the agreement as to prices,
which is expected TO be reached next
week. a reduction in keeping with the
other steel products is considered GER
tain, and then the market will be OH a
settled basis. Some large makers favor
S2I.JO as the new basis and believe that
nearly 100000 tons would be ordered
at that figure. Shipbuilding was never
more active, and a feature was con-
tract for a coal pier To be- used in the
export trade. Boots and shoes begin
TO recover after many weeks of idle
wheels throughout New England. Or
ders are coming forward freely and
return TO normal conditions is in pros.
pect. Last weeks shipment from Bos-
ton were only 81, 7,142 cases, which il the
smallest amount since the decline be-
gan, but Increase in purchasing prom
ises early gain in forwardings Con
ditlons are similar in the wool market,
where sales last week aggregated -
643,0OO pounds, against 12.OJ6.SOO a
year ago. Prices do not full. as might
be expected in such a dull season.
Failures for the week were 195 in the
United States, against 40 last year,
and 80 in Canada, against b last year.