The times. [volume] (Richmond, Va.) 1890-1903, 1901-03-02
JOBBI!N(1 Trade
GAINED VOLUME
Material Advance in Iron and Steel
Products Inevitable.
GRAIN MARKETS REMAIN FIRM.
There is an Increase in the Sale of Wool
Foreign Buying Of Raw Cotton Is Far
from satisfactory-Faiures
Show Falling OH.
(By Associated Press.)

lby Associated PreSS.)
NEW YORK. March 1.-R. G. Dun &
Company's Weekly Review of Trade to-
morrow will say:
Jobbing trade. in groceries, hardware,
and iron specialties has further gained
in volume in the East since our last re-
port, and retail business has been good,
except for a slow movement Of some
descriptions of dry goods. notably CLOTH
ing, of which dealers fear they must
carry over unusually large stocks. In
the West and Southwest, however, the
season has been satisfactory. The great
est industrial combination ever arranged,
that providing for the union of the lead
ing steel interests, has not directly at
fccted business as yet, and may not do
so. otherwise than by removing some
Of the unnecessary competition from the
industry.
IRON AND STEEL.
Nominal quotations of iron and steel
are misleading. According to published
lists, it appears that while pig-iron has
steadily advanced for many weeks, little
change has occurred in finished products.
This discrepancy is due to the figures
fixed by the various pools and associa-
tons. but at which it is impossible to
secure prompt deliveries. Actual bust
ness is done at extensive advances over
these prices, billets selling at s21 at Pitts
burg, or more than dollar above the
nominal rate, while plates, bars, and
structural shapes are only available
when special terms are offered. Even
on distant deliveries mills are asking
higher figures, and every line of steel
production at Pittsburg has already
covered full contracts for the next two
months while there is a general feeling
fl,af al nd, will l,ofo
May 1st Bessemcr Dg-iron sold this
week at s15.25, and Gray Forge at SO;
prices that have not been equalled since
early in August Coke production is
enormous and Connellsvllle prices at last
show a definite advance.
WOOL SALES
Further increase appears in sales of
wool at the three chief Eastern markets,
S,S3o,500 pounds changing hands for the
week against S,J2S,500 in the previous
week. There is still no reason to believe
that the heavy buying results from
better conditions at the mills, orders
for goods do not appreciably expand, eX-
cept in a few special lines. If manufac-
turcrs were bidding for raw material
largely, the decline in prices would be
checked, but the average on March LIST,
Was the lowest since June, 1892 Ship
l!entS OF DOOtS ana SHOES from Boston
were S7,026 cases, against S4,6i5 in the
week preceding and 1C0,S5G a year ago.
Most visiting buyers have concluded
samping and returned home. Shops have
ample work for some time to come and
prices are well maintained. Large stocks
of hides depress prices in Chicago. taking
the average to the lowest point since last
October. ~
COTTON SITUATION.
Curtailmcnt of production in Southern
yarn mills has become general, and at
Fall River there is much discussion OF
lowering wages. Loss in domestic con-
and foreign buying is far from satisfac-
tory. The position OF this staple is not
made tirmer by news that sales of fer
tilizers surpass all records in many
Southern States.
Grain markets are firmly maintained.
Domestic crop conditions are encouraging
and the best explanation of strength is
found in Atlantic exports during Febru-
airy of wheat, -four included, amounting
to 1O,3iS 204 bushels, against 7,61,5 52 last
year, and 4.730 262 bushels Of corn against
II, PA, 645 in 1900.
FAILURES.
Commercial failures in February were
] ,024 in number and $11.2S7.211 in amount
compared with 1.2t2 in January, with La
bilities of s11, 0S11.
It is worthy of note That Yearly 4 third
Of the liabilities in manufacturing failures
We're due to a single bankruptcy of a rail-
way contractor, while not one OF the 757
trading defaulterS owed as much as $780,,
600