The age-herald., 1901-05-11
BUSINESS IS GOOD WITH ALL GLASSES. The Wall Street Panic Did Not
 Affect InduStrlalS FAVORABLE CROP REPORT Iron and Steel Less Active, But Prices Continue Firm, With Mllls and Furnaces Running To Full
 Capacity.
FAVORABLE CROP REPORT


 morrow will say:
 One looks in vain at this writing for any evidence that the general business of the country has been in any way inter- fered with or for the time involved by the severest fall in prices in the history of the New York Stock Exchange. IA very gen. ersl conclusion reached Is that this con v'ilsion is purely a ''stock panic" not in- volving or connected with the general in- dustries of the country in any way. There wtll not, In fact be a hushel of ss result of the convulsion Speculate In grain and othr staples has, however, been checked by the concentration of in- terest upon the stock market
 General trade advlces this week are, in the main. rather more favorable than those of last week, mainly because of the improvement in crop prospects due to sea- sonable rains following planting The lull iu the active buying demand for iron and steel noted last week is evan more pro- nounced today, but this is mainly because mills and furnaces are already heavily sold ahead. and large consumers having b'S"N CtbeiS dIc not WhLi1R Oe1VaTy. Bank clearings. swelled hy enormous stock operations. break all records Gross railway earnings continue to show satisfactory increases and failures are down to a normal minimum. The textiles are still the soft spot in the gen. eral situation and are still dull, but ex- port business in cottons Is batter.
 In the Southwest and Central West crop reports are very generally good. although oats are reported backward because of cool weather. Late rains have helped the Kentucky farmers and there will be plenty of new tobacco plants, although the season is two weeks late and chilly weather retards vegetation In many sec tons.
 Less complaint is heard of crop cond,- tfons at the south.
 Trade in dry goods is quiet at the east and not very active at the vest as is natural In view of the season of other years. Mems wear woolens are not ac- tive slow and disappointing. in fact while plain dress goods are selling fairly we'll Wool is slow of sale, but there is some more movement In new wools at the interior. Large manufacturers are practically out of the market. Cotton was sold freely early continued large re- ceipts. good crop reports and slow mann- facturing trade reports, and later Sympa- thized in the declining tendency In stocks liquidation by Wall street houses being feature. but steadjed later at the 2-I6c de. cline on symptoms of oversellng bv the shorts and unwillingness to make long commitments on this side on late summer months. in view of the general fear of manipulation possible in case prevailing estimates of small supplies to be carried over materialize.
 New business Is less notable in iron and steel than for some time past. but prices are steady and firm at last weeks quota tions, with mills and furnaces running to their full capacity. The pig Iron output on the first of the month Is said to be the largest in the conntrv's history, exceed. ing the boom of February, 1900: but in- quiries are numerous. Large consumers of pig iron in the Chicago district have covered their wants for six months to come.
 Corn has lost strength with other grains but the manipulation at Chicago Is still the feature and the strength of the mar ket is said to he due to extensive buying by the agricultural interests.
 Oats are higher on less favorable crop reports. and the fear of manipulation of corn and oats in the summer months Is a very real one. Russian wheat crop re- ports are very good.
 Reports from the boot and shoe trade are in high degree encouraging. Orders for fall delivery of boots and shoes are increasing and manufacturers are inac- live.
 Wheat Including fiourl shipments for he week aggregate 4.17SS72 bushels, as against 5,10O 762 last week. Corn exports for the week aggregate 1.5s3. SRI bushels. against 2.S11. .S92 bushels last week. 463S.- . l4o bushels in this week year ago and 2.76S, ,694 bushels in 1899
 Failures in the United States for the week number 19S. as compared with l63 last week, 174 in this week year ago, l6a in 1899 and 250 in 1898.
 Failures in the Dominion of Canada for the week number 26. against IT last week. 10 in this week year ago. 21 In 1899, 25 in 1898 and 31 in 1897.