The times. [volume] (Washington [D.C.]) 1897-1901, 1901-01-19
DUN's REVIEW OF TRADE.
The General Condition of Business
shows Some Improvement.

NEW YORK, Jan. 1S.-Dun's review of
trade tomorrow will say:
I'm most directions the condition of gem
eral business has improved slightly this
week. Prices of staple commodities are
steady, as are most manufactured goods.
Orders to manufacturers are sustained in
volume, and that pronounced ease in
money in the interior is still stimulating
business Is shown by bank exchanges at
leading cities outside New York for the
week, 14.2 per cent larger thap in 1900,
and IFS per cent above 1899. At New
York the record is gain of 77.3 per cent
over 1900, and 37.3 per cent over 1899
Retail trade has not declined as much
as usual since the holidays. Textiles show
more life A small but steady improve
~ment in the demand has appeared, and in
the cotton goods division It is the more
noteworthy because of the weakness in the
raw material Sellers of both staple and
fancy cottons are able to maintain po-
sition OF independence. Railway earnings
for two weeks Of January were SO per cent
larger than last year, and 26.5 per cent
above 1899.
sSteadiness Is the chief characteristic Of
the iron and steel industry. The past week
has brought no new developments of s;rik-
ing Importance, and quotations are I'M
changed. There is a noticeable lack Of
new contracts covering large operations,
but many small orders are placed and
mills are well occupied on old business
that in most cases will take months to
complete. even IL nothing further offers
On this account there is no urgency about
securing orders, and nc concessions are
made by leading concerns.
Another moderate increase occurred in
sales Of wool at the three chief Eastern
markets, raising the total for three weeks
to IL, 3SI, 900 pounds. There is still heavy
loss compared with preceding years These
figures give a good idea of the present
dullness In this industry. Manufacturers
stocks are generally considered low. new
ertheless they buy only for immediate
needs, and continue to take mainly the
cheaper grades.
The raw material for the other leading
textile industry has been in less satisfac-
tory position owing to depression in the
yarn market, which caused the associa-
ton to recommend reduction in output by
one-half. Larger estimates of the cotton
crop also assisted the decline.
Boot and shoe shops are, as a rule. well
occupied. but it is noticed that business is
unequslly distributed While some makers
have booked sufficient orders to occupy
them fer some months. others depend on
current sales to keep their force employed.
Sales OF leather are Of only moderate
volume. and much below expectations Of
holders, with no speculative operations.
THE ease of the money market Is still
pronounced. There have been large receipts
Of cash from the interior, and the Treas
ury has paid out money largely in the last
ten days. Country banks lend freely here
on any advance in rates, and the supply
of funds from this source seems to be in
creasing. Little call money loaned over
8 1-2 per cent and lenders on time were
seeking borrowers, and with less dis
elimination against industrial collateral
than for some weeks past.
The feature of the financial situation
was the increased activity of the CONNER
cial paper market, the offerings showing
material increase and from many quar-
tiers. Liabilities of failures in the first
half OF January were s5.259.93l OF which
81. 25S. 965 were of manufacturing concerns.
S2,751 ,963 of traders, and s249.053 other
commercial
Failures for the week were 325 in the
United States. against 242 last year and
40 in Canada. against 40 last year"