The times. [volume] (Washington [D.C.]) 1897-1901, 1901-05-11
BRADsTREETs ON THE WEEK.
General Business Not Affected by the
Wall street Panic.

NEW YORK. May 1O.-Bradstreet's to-
morrow will say: f al
"One looks in vain, at this writing. for
any evidence that the general business OF
the country has been in any way inter-
fered with by the-for the time involved
severest fall In prices in the history of
the New York Stock Exchange. very
general conclusion reached Is. indeed. that
this CONFUSION is purely q stock panic,
not involving or connected with the gen
eral Industries of the country In any way.
There will not. In fact, be a bushel of
wheat or coal less in the country as
result of this CONFUSION. Speculation in
grain and other staples has, however,
been checked by the concentration Of in
terest upon the stock market.
General trade advices this week are,
in the main, rather more favorable than
those of last week, mainly because of the
improvement in crop prospects. due to
seasonable rains following planting. The
lull in active buying demand for iron and
steel noted last week Is even more pro-
nounced today. but this is mainly because
mills and furnaces are already heavily
sold ahead, and large concerns having
placed orders are now waiting delivery.
Bank clearings, swelled by enormous
stock operations, break all records. Gross
railway earnings continue to show salts
factory increases, and failures are down
to a normal minimum. The textiles are
still the soft spot in the general situation
and are still duh, but export business In
cottons is better.
THE feature of the week in the crop
situation is the arrival of needed rains
throughout the entire Northwest, which
have placed the spring wheat crop, now
~
In the Southwest and Central West crop
reports are very generally good, although
oats are reported backward because Of
cool weather
LESS complaint Is heard of crop con-
ditions at the South. New Orleans re-
ports all crops making splendid progress.
Nashville reports cotton and corn acre
age Will exceed last years and that pros
poets are more encouraging. Memphis
reports that corn and cotton need rains.
that much repianting has been necessary
and that the cool weather checks crop
termination in Arkansas.
Trade in dry goods is quiet at the East
and not very active at the West, as 10 nat
ural at this season. Cotton goods are
dull at New York, except for export, and
little is doing in woolens. Little is doing
in clothing. Cotton was sold freely ear
ly on continued large receipts, good crop
reports, and slow manufacturing trade
reports and later sympathized in the de-
Ginning tendency in stocks, liquidation by
Wall Street houses being a feature, but
steadied later at the 3 Lie decline on
symptoms of overseeing by the shorts
and unwillingness to make long commit
ments on this side on late summer
months. in view of the general fear of
manipulation possible in case prevailing
estimates of small supplies to be carried
over materialiZe.
Bradstreet's correspondent at Jackson
vile reports that the fire of last Friday
destroyed 119 residence and twelve BUSH
ness blocks and 200 business firms Thir-
~ per cent of the whole number were
burned out. The total damage is esti-
mated at from $4,000 to SIS. 600 900, on
which there is an insurance of about S.
100000. Business has been resumed in
tie stricken city with energy and hope
fulness.
Failures for the week number 193 as
compared with l6S last week and ia in
this week a year ago."