The times. [volume] (Washington [D.C.]) 1897-1901, 1901-05-04
DUN'S REVIEW OF TRADE.
Labor Difficulties Fewer, and Prices
Holding Well.

NEW YORK, May 3.-Dun's review to-
morrow will say:
The greatest activity ever seen in
Wall Street diverts attention in a measure
| from progress in distributing and manu-
featuring operations But while on every
hand stock market interests are counsel
ing caution and attempting to prove that
prices arc really more than the condition
of some of our railroads warrant. the
fact remains that without a brilliant crop
outlook and a great activity of general
trade Wall Street could hold no such car
niVal.
Labor difficulties are fewer and less
threatening than for several years be-
fore in the first week of May and prices
of merchandise hold well. Bank clear
ings are still augmented by speculation
at New York, showing for the week
gain of 93.2 per cent over 1900. and SO per
cent over 1899, but at leading cities out
side New York the gains are 16.7 per
cent over 1900 and 3 per cent over 1899.
April railroad earnings exceed last years
by SO per cent and 1899 by 21.S per cent
Stability of prices and vigorous prose-
cution of work at mills indicate the
wholesome condition of the iron and steel
market Throughout the entire range of
products of this industry the current de-
mand for immediate delivery exceeds ali
previous records. yet makers maintain a
conservative position and prices are not
pushed up to the danger point.
1T is at the finishing steel plants that
there is the greatest urgency for ship
ments and full capacity is assured for the
next three months
Dizziness is still reported in the tex
tiles. Further reduction to $50 cents for
standard print cloths did not accelerate
operations, as buyers appear confident
that goods will soon he available at 2lz
cents. This unsatisfactory condition of
the manufacture is not helpful to raw
cotton, nor is there support in better
prospects for the next crop and port re-
ceipts far in excess of last years move
ment. Still, there is a feeling that the
decline has gone far enough, and this
negative influence holds the market
fairly steady.
There is no Improvement in woolens.
and Coates Bros average of 100 quota
lions Of wool on May ] was 17.1 cents,
against 1879 on April /, and 22.76 year
ago. Small concessions are reported in
few grades of shoes. and in other cases
manufacturers are making slightly better
goods at old figures. Western jobbers are
ordering more freely. and shipments from
Eastern shops are larger than in the
previous week or a year ago.
Further advances were secured in the
cereal market. Chicago spectators being
forced to cover May corn contracts at 80
cents. Attractive prices brought more lib
eTa receipts at interior cities. and also
stimulated operations on the farms
Traders have forced the next crop options
to what seems an unreasonable level since
there IS evidence Of a large yield despite
delayed planting through excessive moist
ure. Wheat also attained a high point,
advancing in sympathy with corn.
Stocks again recorded higher prices
The market was partly under the infiu-
ence of numerous actual and conjectured
ject the more perfect unifcation of trans
pOrtation interests all over the continent
Europe, which has for some time hest
tated to buy our stocks. caught the enthus-
iasm of the New York market and took
d very large amount of both bonds and
stocks. Foreign bankers still preach con-
serVatlsm, as they have done for four
months past, but the public seems to be
taking matters in its own hands.
THE money market was easier in all
departments While an effort was made
to sustain rates at the stock exchange.
most of the banks accommodated their
regular clients with loans materially be-
low the public quotations.
Commercial failures in April were 763
in number, and S5,51l 222 in amount of de-
faulted liabilities. In the previous month
ins2lVencies reached 80 1875, 46l and a year
ago were 50, I6l 500.