The times. [volume] (Richmond, Va.) 1890-1903, 1901-02-02
THE EARNINGS OF
RAILROADS LARGE
Increase of More Than II Per Cent.
Over Last Year for Three Weeks.
STEEL PRICES REMAIN FIRM.
Been Without Striking New Fca-
lures, but This Is Regarded
as Favorable Outcome.
(By Associated Press

NEW YORK, Feb. 1-R. G. Dun &
Company's Weekly Review of Trade 20
morrow will say:
The week in general business has been
without striking new feature, but in this
respect the outcome has be n favorabe.
Not one of the great industries finds any
scarcity of orders For good rise except ID
textiles, which have been affected by TIL.
reduction of 10 to 20 per cent. in the sea-
sons opening prices by the Ameri an
Woollen Company. This cut is expected
to be Indefinitely continued.
Developments in the money market
however, Indicate that the dry goods
trade is prepar ng for a S rason of activity
and the new woollen prices are not lower
than most buyers expected. There is no.
thing discouraging in the slight decline
in commodity prices from IN! airy 1st to
February LIST, and railroad earn ngs
tinue large. increasing Ill per cent. tor
three weeks of January over last year,
and 26.2 per cent. over 1899
STEEL MILLS BUSY.
While steel mills have contracts OF
hand for their output from three to six
months ahead. prices naturally RUE firm.
Few actual advances are recorded but
there is eXpe tation of a h Cher figure
soon for Bessemer pig iron, while runners
are numerous as to rise in billets Plates
and structural iron. All these lines show
q brisk demand. W:ra nais and br~bed
wire were advanced go pr ton owing to
heavy orders from the ret, and it is
expected that the few mills still idle viii
shortly resume. Activity in Texas oil
fields continue.
Export orders decrease. and the Russia
armor plate contract may not so to an
American, although his terms were the
best.
THE LEATHER TRADE.
Boot and shoe shops receive more or
ders, and although quotations are mont
nal unchanged. many m" kers refuse new
contracts without a small advance. The
upward tendency is SO general that pur-
chaSerS are eager to do business at the
current level Jobbers have arrived It
Boston in great numbers. AMI TT u'r'es
indicate that liberal sales will result
Leather sells freely, pa ticularly of union
seal, but the large transactions were
probably at slight concessions Glazed
kid factories are running at fun cara ity
but fail to meet the demand The market
is irreguIar with more quotations atlvan
ing than declining.
A sudden fnc-ense In sales of wool st
the three chief Eastern rnarkets to 5,ii2.-
eco pounds against , S9i 400 in the pr vfotr.
week. is merely the recovery following
such an unus ally dur season. FIR five
"sShS SsiieS were ~ oHs.tu" pounds against
2S.519.9 0 in the same weeks of 1876, VIII CHI
was the smallest aggregate in five wears.
These figures ind'cnte preset condl on4
in this Industry Heavyweight su'tfuss
were opened at the expected reduction
COTTON VAC:ARIES.
Cotton vagaries have not been regarded
with alarm by spinners since Il temporary
corner cannot have any important effec'
the commercial world. Many mills
sent their raw material to the aid of the
short-sighted indiv duals who had II
cotton they did not possess. although local
stocks We're know to be light and the
manipulation of the January option was
rumored. For u few days middling up
lands sold at L cents. but with the end
of the January deal there was a SHARP
decline 10 d more rational position.