The sun. (Wilmington, Del.) 1897-19??, 1901-05-11
THE STATE OF TRADE.
Comment by Dun's Review on the
Business of the Week.
STEEL PLANTS KEPT BUSY.
Pittsburg Factories Two Months Be-
hind Ordcrs-Recovery In Price
of Cotton Only Temporary.
The Grain Market Active.

New York, May 10.-R. G. Dun &
Co.'s weekly review of trade says:
A panic in Wall street does not mean
that legitimate business has suddenly
ceased to prosper, nor is the condition
of mercantile trade and manufacture
adversely affected by Il violent fall in
prices of securities. Throughout the |
entire country fundamental conditions |
were never as sound as at the present |
time, reports from nearly every city |
this week showing an exceptional vol
ume of transactions and payments
promptly met.
Production is not oyertaking demand
at the finished steel mills, and all llttS-
burg plants are two months behind or
ders, while 30 days is the limit AT many
Although the expected advance i'll bar
iron did not appear, the tone continues
firm, and orders are liberal. BiilctS
remain at the top point for prompt de-
livery, but reasonable terms are avail
able on forward contracts. In stluctl'-
raj shapes and railway equipment there
is all the business in sight that makers
desire, and no effort is made to secure
additional orders. Less urgency is re-
corded III pig iron markets. but buyers
do not find terms moro satisfactory
and, in fact, forge and foundry mon are
rather more firmly held.
Although the total number Of FUR
naces in blast on May ! was 10 smaller
than on Feb. l. 1900. The Iron Ago IS.
Inmates the weekly capacity NJ sol 10
4. n. MI hitFh
water marks. The activity Of steel
manufacturing is emphasized by the
decrease Of 34.279 tons in furnnce
stocks during April despite the unpat-
alleled production.
The Cereal Markets.
Less sensational events TRANSFERRED ~
the cereal markets than III the proceed
ing week. although quotations arr slow
to recede Corn eased off few cents.
but is still about 10 cents bushel on
nearly % per cent, above the quotation
at the corresponding date in the two
preceding years. Western operators
continue to entertain strong views AMI
appear little daunted by the larger re.
ceipts attracted To interior cities by
the unusually profitable prices offered
For the week arrivals aggregated - q.
n,4 bushels against >. l962O2 last veal
Foreign purchasers have been dfiSei
ont Of the domestic markets by Il,
high quotations, and Atlantic export
for the week We're only l.2ll2li huSil
els compared With 3,To9,SsO 4 year 40
Prospects for the cnrrent crop nl1
bright according to correspondents,
Recovery i'll the price Of cotton wa
only temporary. and heavy liquidation
of options was accompanied by 4 tai
In spot miadling uplanaS to the loves
figure recorded this year. Even ~
loss Of 50 bale compared with HI
quotation prevailing a year ago tler
is little disposition to secure raw mi
terial, either by domestic OF forcig
spinners. AS the end of the crop yea
approaches there is no sign OF Il
famine predicted by many rNprrls ~
lier i'll the season. and With most III
notOnouS regularity port receipts ~
tnue two or three times as large ~
tile same week last Year. With lar
yield probable this year AMI unsati
factory conditions nj the mills. the
is no inducemcit to hold stocks. I
situation is Similnl regarding wopl a
woolells, Raw material Il atunda
and i large clip probable. while mai
factnrers have only Il light demand /
goods.
Failures for the week numbered
in the United States against 1a2 i
year and ~ in Canada against Il !;
year.