The Savannah morning news., 1901-06-08
DUN & co.'s WEEKLY REVIEW.
THE UNSETTLED LABOR SITUATION
AFFECTS BUSINESS.

,Iachinists May Have Erred in Their
Demands on Employers Latter
show Little Disposition to Make
COncessions-GoOd Reports From
wheat Crop and the Outlook Full
of PrOmise-Bank Clearings Show
an Increase and Boston Is Doing n
Mig business in Shoes-Market for
Cation Goods Shows Some Inn
prOvement.
New York, June 7-R- G. Dun Co.'S
Weekly Review of Trade tomorrow. will
say:
The labor situation in many parts of
the country is still seriously unsettled,
and constitutes a reason for hesitation
In some industries, discouraging new OPP
erations which satisfactory conditions
would otherwise stimulate. But quick de-
csion is to be expected in some of these
la Dor controversies, and in the meantime
trade is encouraged by reports of sat-
isfactory condition of winter wheat over
a large portion of the country. AS for
spring wheat, the crop was put in under
very favorable conditions, and there have
been few unsatisfactory reports. Rail-
road earnings for May are SO per dent
in excess of 1900, and 1872 per cent. over
1899 and reflect a continued activity In
the country; while at New York bank
cIearings gain for the week S6S per cent.
over 1900, and 59.1 per cent. over 1899, with
gains at the leading cities outside New
per cent. over 1899. The cessation of
manipulation in dorm contributed to de-
cline of 81 per cent. in breadstuffs.
The Machinists' Strike.
Labor controversies have become the
factor of greatest Importance in the lead
ing manufacturing industry Counting,
perhaps, upon the urgency of orders and
heavy losses which would be sustained by
employers in case Of suspension, the
machinists made what were considered
unreasonable demands by employers at
MANY points, who have taken a determin-
ed stand and announced that the strikers
places will be filled by non-union men on
Monday if they fail to resume work. More
quiet conditions in the market and few
new contracts make this action possible.
a n
business beyond July /, and it looks as
though they had been preparing for the
conflict.
Efforts to secure advances in grain by
exaggerated reports of damage to the
growing crop have given place to more
rational statements and the outlook is
generally conceded to be full of promise.
Speculative operations for a decline, how
ever, are far from aggressive; the severe
losses of the short interest thus far this
season making traders extremely eau
tious. Abundant production in the United
States does not necessarily mean weak
prices for European crops are falling be-
low expectations and foreign purchases
continue heavy.
Shipments of boots and shoes from Bos-
ton continue very large, for the last week.
exceeding the same week of 1900 by 10000
cases, and since the year opened forward
ings have been over 100000 cases, far
surprising any previous record.
The market for cotton goods exhibited
greater animation than at any previous
time this season. Other textile lines were
helped, though less extensively Better
movement of domestic goods and the con-
sequent expectation that mills would need
raw material, together with increased &C
tiv;y abroad, sustained cotton.