The sun., 1901-04-27
FLOODS INJURE TRADE.
Comment by Dun's Review on the
Business of the Week.
CEREALS SHOW ACTIVITY.
Wheat and Corn Rise sharpIy--Cot7
ton Responds Slowly to News OF
Damage ON Plantations.
The Weeks Failures.

New York, April 2G-R, G.. Dun &
Co.'S weekly review of trade says:
Business continues very brisk for the
season in the face of some drawbacks.
which at times might cause marked
hesitation. Chief of these is the floods
In many directions, which have inter-
Tered with railroad operations and in
terrupted the distribution of merchan-
lise. and the weather all over the east
has been adverse to an increase of re-
tail trade.
Much mfayorable comment has ap-
peared regarding the advance I'm steel
rails to SOS. yet the change Is only in
keeping with recent increases in prices
lf pig iron and hillets. Nominal quo
tations for many products of iron and
steel have long been disregarded in
contracts calling for early delivery,
ana list prices are generally moving
up to a representative level. On new
business or export orders 1t is not un-
reasonable to make prices for rails on
parity with other products Of this in
iluStry.
Aside from this one operation there
is no new development. Pig iron Is
more quiet, with little taken for deliv-
i cry beyond July |. Domestic business
in principal lines of manufactured steel
is so active as to discourage foreign
buying. but machinery and specially
mills are exporting freely. 1t is re-
iported from Pttsburg that mills are
not crowded by demand TO the extent
noticed in 1890. hut productive capaci-
ty has largely expanded.
The Cereal Markets.
| After % prolonged period of waiting
| for definite crop news the cereal mar
kets suddenly awoke to unusual activi-
lty Much of the increased trading and
sharp advance in prices resulted from
clever manipulation by II single west
Tern specuator who compelled the
short contingent 10 cover May corn
contracts AT the highest prices of the
season. While there was an element
of strength in the reports of late plant
ing. slow movement of the old crop had
lgrrater influence. as stocks available
for delivery were light.
In four weeks western receipts OF
corn amounted to only G,l4S,I:i3 bush
Irls against 1i.i13.1oT last year, II il
not surprising that foreign buying de
rrpaSes ut the present exceptionally
high level Of prices. Wheat has als'
risen sharply, partly in sympathy Will
"orn. hut there was bad news regardin:
the German crop. and some damage oc
currpd at the west.
Cotton responds slowly to indica
ions of damage ON plantations, for th
i'd crop comes into sight freely, AM
heavy losses in British exports 0
Goods and yarns do not promise a Wig
,rous foreign demand for raw mate
rial.
Another decrease is reported in shir
ments of boots and shoes from NeN
England shops, although there is sti
heavier movement than in the sam
week last year. Factories are les
behind with orders. and buyers ar
inclined to defer new contracts in til
hope of securing concessions. As We
however, quotations are unchange,
, Much city spring trade has been los
through inclement weather, and loc;
= jobbers no longer expect an averae
seasons business.
Failures for the week numbered 81
in the United States against 2tl la'
:. year, and 26 in Canada against - la
wear.