The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-01-04

Reviewed by Dun d Co.. and Compared
With That or the Previous Years

New York. December s1.-Dun's re-
view In its summary, reviewing the
business OF the year just closed. viii
say regarding the leading markets.
Conditions in iron and steel during
1900 were much more sound than in
the preceding year. when speculation
was rife and prices inflated far beyond
the bounds OF reason
Statistics OF the weekly capacity Of
furnace in blast show tbs the high
est point on record was reached Feb
ruray LIST. while there was little dim
mutton during the next few months: but
with the collapse or speculation during
the spring. and realization or the fact
that operations had been oyerdone.
there came a steady reduction in out
put. From 20 furnaces in blast on
February list, there followed a contin-
ual shutting down until but 20l were
In operation on November 1st and the
weekly production decreased s9,T1e
tons. Even at this rapid rate OF declin-
ing output. stocks accumulated with
startling rapidity. and on October 1st
the top was reached at s10.53l tons.
Business conditions were satisfactory.
however. and demand expanded. while
exports OF finished products grew very
heavy when prices reached a level that
made competition possible with British
and German producers. In two months.
ending December LIST. furnace stocks OF
pig iron decreased ll3. SOS tons. and the
tone was so much improved hat many
idle urnac resumed.
Manufactured articles have moved
along similar lines. Quotations of iron
and steel products at the beginning of
the year were little below The level
prevailing thirteen years previous. and
the fall was almost uninterrupted until
| October, when the average was but
6S.6S per cent. OF the figure prevailing
January LIST, 1857.
The year 1900 opened with favorable
conditions prevailing in nearly every
branch OF the dry goods trade. The
home demand continued good for the
first three months and then fell away
until by June the market had lapsed
into pronounced dullness, and from a
steady upward course in prices began
TO gradually decline again.
4 sudden demand from China for
heavy brown cottons in May. the first
| purchase made for that market In sew
eral months was unfortunately check
ed by the outbreak of the Boxer rising
and since then there has been an entire
suspension of buying for that country.
In September another stimulus was
| given to cotton goods by the rapid ad-
vance in raw material which followed
the Galveston disaster and short crop
predictions. Prices resumed their up
ward course. and the market ruled
strong again until the end OF October.
when there was another luil In the de-
mand. Stocks. had, however, been
we'll cleaned up as a rule, and although
some of the staple lines have eased of
slightly, a fairly steady tone has since
prevailed.
The prosperous condition of the cot
1 ton goods trade asst YEAR nd the ga rIv
part of this has had a marked effect
upon the cotton industry In the south,
renewing the boom in mill building.
which previous depression had checked.
A number of new mills V been add
ed, and many more are in course OF
erection. 1t is probable that when the
years statistics are compiled they will
show the addition OF nearly 1000, 900
spindles to the productive capacity OF
the south.
The closing year of the century was
a remarkably satisfactory one for farm
ers and planters. notwithstanding the
fact that some sections harvested
smaller crops than in preceding years.
While the south produced less cotton
than in two previous record break
ing seasons, prices were the highest in
ten years, and the net profits made on
plantations were enormous.
Spring wheat states lost much grain,
but Kansas and other large winter
wheat growers made big crops and
the average price was high. In fact
the cereals were all abnormally advanc-
ed until there occurred a natural loss
in exports, SO that Russian ports were
able to secure much foreign trade that
had belonged to American producers.
Corn was put up to within a fraction
Of so cents here, and speculative manip-
ulation forced the Chicago price still
higher. These operations rad q natur-
1 ailV 0alpt9T10llG effect nn Gxn0rfn ffana
and foreign surplus countries reaped
much of the benefit from excessively
inflated domestic markets.