The times. [volume] (Washington [D.C.]) 1897-1901, 1901-02-23
DUN'S REVIEW OF TRADE.
BETTER business Conditions Reported
in the East.


NEW YORK, Feb. 22.-Dun's Review to-
| morrow will say:
Business In the East, and particularly
along the North Atlantic coast. has been
catching up with the rest of the country
little this week. so that in the few
lines where complaint has been heard 10
cally OF late. the tone is better. This
comes from the working of of retail
stocks which owners feared would have
to be carried over until next season.
In builders hardware the buying has
been notably better. and the distribution
in the grocery iobbing trade has been
given considerable stiriulus. Even the
iaggard dry goods market has shown a
good measure OF Improvement in general
tone, and in some directions the market
is slower than week ago.
From the interior advices are almost
uniformly favorable. with a very heavy
movement OF general merchandise and
farm implements over the Northwestern
railroads. Earnings OF the railroads Of
the country for the first half of February
thus far reported show a gain of rs per
cent over last year. with an increase Of
1913 per cent over 1893.
Bank clearngs at New York are for
year. and 1852 per cent larger than In
1893: while Mt the leading cities outside
New York $50 per cent over 1900. and
POI per cent over 1899.
Activity grows more pronounced In
wool sales at the three chief Eastern
markets sggregatinR s.52s 800 pounds for
the last wick. against g,972.s00 in the
previous week and 2 1913. 400 month ago.
Although transactions are heavier than a
any time IN over year. the situation Is
far froT satisfactory. as each week brings
& lowsf level of prices.
There Is little evidence Of a better de-
maDd for goods. Unless manufacturers
receive larger orders and reduce excessive
stocks before supplies arc augmented By
another clip. it Is difficult to see why
prices should advance, even If they are IT
the level Of two years ago.
The other large textile industry Is in
not much better condition. Instead Of be-
ing able 20 advance prices Of cotton goods
In proportion to the high quotations re-
Gently made for raw cotton, the mills are
meeting with Iigh; demand and even at
the reduction to cents for print cloths
there Is no activity. Many mills have
already restricted operations and more
viii stop spindles on March J.
when the raw material was advanced
10 the highest price In ten years II could
not defy the law OF supply. demand. and
prices which ultimately restores an equi-
lihrium. On Tuesday a decline of sf3-I5
a bale from the top point had occurred.
making IL possible 10 manufacture at a
profit but this does not help mills which
have goods on hand made from cotton pur-
chased before the fall to the lowest price
in eight months.
No diminutiOn appears In the move
ment of iron and steel products. Mills
are rushed with orders and new contracts
are taken at full prices. Pig iron is free I
ly bought and prices tend upward. Billets
and other partially manufactured forms !
are iirmer and finished goods would com
Inand high prices il immediate delivery
could be secured. Structural shapes are
still feature. with large operations pend I
ing in bridges and track elevation.
THE speculation in stocks has not been /
heavy and the market has displayed de-
;ided reaetionary tone, though without I
my change in the underlying conditions.
There is no appreciable hardening Of
money as yet and the movement between !
he banks and the Interior and with the
sub Treasury has this week resulted in
gain of about 2.500. 600 cash.
Exports for the week from this port
we're small and as the corresponding week
asst year was the high record up to that
line there appears n decrease OF $685.
81.
Failures for the week were 253 in the
United States. against 20i last year. and (
- in Canada. against 80 last year.