The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-02-23
DUN's REVIEW OF TRADE.
Better Business Conditions Reported
in the East

huHEhENs
in the East
NEW YORK, Feb. 23.-Dun's Review of
today says:
Business in the East, and particularly
along the North Atlantic coast, has been
catching up with the rest of the country
little this week. 50 that in the few
lines where complaint has been heard To-
caIIy of late. the tone is better. This
comes from the working on 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 jobbing trade has been
given a considerable stimulus. Even the
laggaTd dry goods market has shown
good measure OF Improvement in general
tone, and in some directions the market
is slower than a week ago.
From the interior advices are almost
uniformly favorable, with a ye~y 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 gail Of rs per
cent over last year, with an increase Of
34.8 per cent over 1899.
Bank clearings at New York are for
the week 72.1 per cent heavier than last
year. and 35-2 per cent larger than in
1899; while at the leading cities outside
New York 35-9 per cent over 1900. and
20.7 per cent over 1899
Activity grows more pronounced in
wool, sales at the three chief Eastern
markets aPgregating S,528, SOC pounds for
the last week, against 6,972, 900 in the
previous week and 2 ,983 400 a month ago
Although transactions are heavier than at
any time in over year, the situation is
far from satisfactory, as each week brings
a lower level Of prices
There is little evidence of a better de
mand for goods Unless manufacturers
receive larger orders and reduce excessive
stocks before supplies are augmented by
another clip, II Is difficult 10 see why
prices should advance, even II they are al
the level of two years ago.
The other large textile industr' is H.
not much better condition. InsteaU + be
ing able to advance prices Of cotton goods
IN proportion TO the high quotations re-
Gently made for raw cotton, the mills are
meeting with light demand and even at
the reduction TO cents for print cloths
there is no activity. Many mills have
already restricted operations and more
! Will stop spindles on March I.
When the raw material was advanced
to the highest price in ten years il could
not defy the law of supply, demand and
! prices which ultimately restores an eQui-
| Iibrium. On Tuesday a decline of $l3I5
| a bale from the top point had occurred,
making it possible TO manufacture at a
! profit, but this does not help mills which
| have goods CD 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 az full prices. Pig iron is free
| ~ bought and prices tend upward Billets
/ and other partially manufactured forms
are frmer and finished goods would com
| nand high prices II immediate delivery
| could be secured Structural shapes are
| stiIl a feature. with large operations pend
| ing in bridges and track elevation
| The speculation in stocks has not been
| heavy and the market has displayed de-
| sided reactiouaFy tone, though without
| any change in the underlying conditions.
| There is no aprreciabie hardening Ct
| money as yet and the movement between
| he banks and the interior and with the
| Sub-Treasury has this week resulted in q
| gain of about 81, SOC coo cash.
| Exports for the week from this porf
| 7yere small and as the corresponding weel
| asst year was the high record up to thai
! ime there appears decrease Of 1854,
| 81.
| Failures for the week were 253 in thC
| United States. against 201 last year, an
80 in Canada. against 50 last year.