The Washington times., 1901-11-02
DUN's REVIEW OF TRADE.
Expansion of Business Retarded by
Poor Transportation Facilities.


NEW YORK, Nov. L-"Dun's Review of
Trade" tomorrow will say:
Although the latest railway returns
indicate that transporting facilities have
greatly improved, the nations business
has expanded more rapidly. Car shortage
has in fact, become the chief retarding
influence. From all sections of the coun-
try and many lines of industry complaints
are heard regarding the inability to move
goods. Probably the delay has been most
aggravating in the case of coal, unseason-
ably high temperature alone preventing
serious inconvenience. Not only are do
mestic requirements enormous, but coal is
becoming an important article of export,
partly owing to labor controversies in
France and Great Britain, and also to
the British export tax.
Notwithstanding the loss of much
freight movement through inadequate
rolling stock, railway earnings for the
month were ~ per cent larger than last
year. and 16.9 per cent over 1899. Mild
weather affects retail distribution to
very marked degree. orders for heavy
cases where manufacturers were behind
with deliveries. That the legitimate busi-
ness is not being curtailed, however, is
evidenced by the gain in bank exchanges
at New York of 27.4 per cent over last
year, and 79 per cent over the same week
in 1899 At other leading cities the in
crease is equally striking. 2o1 per cent
over 1900 and SO per cent over 1899
Steel mills are many months behind or
ders, and prompt deliveries are command
ing premiums. Even where goods are
ready for customers, it is often impossi-
BILE to ship because of inadequate railway
facilities. This factor E serious in all
branches of the industry. Steel rail or
derS increase, and the fancy prices ask ed
for billets have brought imports from
Germany, where industrial depression
makes it possible to sell at very low fig
ures. Domestic quotations do not alter,
though list figures are not considered on
deliveries before the years end. Copper
Is artiflclally sustained by closing mines.
Footwear manufacturers have made
general advance in prices, restoring the
figures Of early spring. Textile markets
are well sustained. Woolen mills have
ample orders. and take large quantities
of raw material, holding wool prices firm.
Cotton goods are In brisk request, with
no evidence of excessive stocks. Wise
counsel has thus far prevailed at Fall
River, though the labor, leaders are close
ly divided.
''Irregularity prevailed in the markets
for staples. Spectators secured a dis
tinct decline from the unusually high po-
sition recently attained by pork products.
while at the same time corn made fur
ther advance. Poor husking reports were
held responsible for the rise in the cereal.
and there was a natural falling off in
exports. Shipments from Atlantic ports
for the week were only i9S, i95 bushels,
against coo last week, and 3,32S, ,eSi a
year ago.
126 bushels against 8, .U20 last year.
Wheat came to market more freely. ar
rivals at Western cities amounting to
1860 $50 bushels, against 6.1S2.393 IN the
previous week, and $55S7, COZ year ago.
Atlantic exports We're less satisfactory
than last week. but including all United
States ports, shipments were 5,50S 100 bush
els against 3.6S5, S2l bushels last year. and
3,50S. .99S in 1899 \ further fall put cotton
50 a bale lower than it was two weeks
ago, and port receipts are very heavy.
despite reports that many planters are
holding for more profitable prices
although liabilities of commercial fail
ures in October were S10.6S0627. against
80 O72. .791 last year. the return is by no
means as unfavora BILE the simple ag-
gregate would seem to indicate. a few
large failures. many due to speculation.
account for over half the total liabilities.
but had little influence on legitimate trade.
Deducting these exceptional disasters,
the average Indebtedness to each insol-
vency was but 1854. a lower proportion
than In the corresponding month of any
year since this instructive comparison
was commenced. Banking liabilities in
October were unusually light. amounting
to only SO, N, against S550.OO0 year ago.