The sun. (Wilmington, Del.) 1897-19??, 1901-01-19
THE STATE OF TRADE.
Comment by Dun's Review on the
Business of the Week.
TEXTILES SHOW MORE LIFE.
steadfness the Chief Feature of the
Iron and Steel Industry, While
Work Is vigorously Going
on ut the Furnaces.

New York, Jan. 1S.-R. Il. Dun IL
Co.'S weekly review of trade says:
In most directions the condition of
general business has improved slightly
this week. Prices of staple commodities
are steady, as are most manufactured
goods. Orders to manufacturers are sus-
tanned in volume, and that pronounced
ease i'll money in the interior is still slim
Mating business is shown by bank ex-
changes at leading cities outside New
York, for the week 142 per cent larger
than in 1900 and lis per cent above
1909. At New York the record is gain
of 77.3 per cent over 1900 and 1918 per
cent over 1899. Retail trade has not de-
clined as much AS usual since the holt
lays. Textiles show more life. A small
but steady improvement in the demand
has appeared, and in the cotton goods di-
vision it is more noteworthy because of
the weakness in the raw material. Sell
ers OF both staple and fancy cottons are
able to maintain position of independ-
ence. Railway earnings for two weeks
of January were SO per cent larger than
last year and 26.5 per cent above 1899.
Steadiness is the chief characteristic
Of the iron and steel industry. The past
week has brought no new developments
Of striking importance, and quotations
are unchanged There is noticeable lack
Of new contracts covering large opera
tons, but many small orders are placed,
and mills are well occupied on old bust
ness that in most cases will take months
to complete, even if nothing further of
fers. On this account there is no urgen-
cy about securing orders, and no conces-
sions are made by leading concerns. Ex-
port inquiries are fewer, but manufacture
ers exhibit no concern on this point
Work is so vigorously prosecuted ut the
furnaces that demand for fuel increases
and coke production in the Connellsylt
region expands. Coal also moves more
freely at Pittsburg, delayed shipments
being hurried forward with the aid Of
high water. There is still some uncer
tainty regarding the proposed tube ant
sheet plants, and action by the Carnegi,
company is awaited with interest.
Another moderate increase occurred il
sales of wool at the three chief eastern
markets, raising the total for three week
to 1882 300 pounds. There is still
heavy loss compared with preyou
years, for in the same period last yea
the total was 14,920,S00 pounds and 10
49,, 800 two years ago % 332, 2T0 in 1888
) and 19,SS6,200 in 1897. These figure
give a good idea of the present dulnes
!, in this industry. Manufacturers stock
nre generally considered low, nevertheless
they buy only for immediate needs an
continue to take mainly the cheape
. grades.
The Money Market.
! The ease of the money market is sti
v pronounced. There have been large n
q ceipts of cash from the interior, and I'll
= treasury has paid out money largely
h the last ten days. Country banks len
d freely here on any advance in rates. an
'. the supply of funds from this sour,
seems to be increasing Little call mo-
ey loaned over 49, per cont, and lende
on time We're seeking borrowers and vii
an less discrimination against industrial &C
70 lateral than for some weeks past. III
nj feature of the financial situation was Il
70 increased activity Of the commercial i
~ per market, the offerings of notes sho,
10 ing u material increase and from MAJ
quarters. At the same time the supp
of paper in the market is wholly mad
qunte to meet present demands, and rat
81: did not advance on the larger borrowing
ly Transfers of securities between New Yo
of and other cities have ceased. and caste
co money markets are now working near
rs to parity than in the last two month
N At Chicago there is decided ease, wi
lst reports of term loans at per cent
DIS What some please to term n triang
ey lar operation in Exchange with Londo
to Paris and New York has resulted in G
les ports of $1,640,000 gold from New Yo
st. to Paris. 1t is done on direct orde
from London for French account and
err. the result of the financial pinch to viii
les London has been subjected since t
re- collapse of one of its inflated fianacc &c
tu- Germs. The market for exchange seer
he to indicate that point has been strain
Is, to make the shipment for the sale
ed gold bills caused a sharp concession
mr. rates for all descriptions Of sterliI
M though offerings Of commercial dra
tly against recent heavy grain exports W,
al also larger simultaneously with the pr
asst sure of bankers drawings, Secnr
operations were small.
Final returns Of foreign commerce
1900 show $200,000,000 increase in
lue ports over the previous year, which "
SITS. the top record up to that time. Dedu
list ing imports Of $S29,052, ZIG from expo
GUS of $1.47S,050,S54, there is a trade i
the and in favor of this ountry of S61
ing 99o,13S on merchandise account.
18th which should be added S26.461 no
Inns export Of, silver, and after deductinr
'ov- imports Of S12,603, 402 gold there
au- mains an Increase III foreign indebtedn
Of .StiG2. s5650G.