The times., 1901-05-18
DUN's REVIEW OF TRADE.
Labor Troubles the Only Adverse
Factor at Present.

NEW YORK, May 17.-DUn's weekly re-
view of trade will tomorrow say:
Crop reports continue in the main IA
vorable and ease in the money market
returned to encourage business enter
prise, which looked aghast at the collapse
of stock speculation. The calmer tone in
securities is welcomed In all directions
As against the favorable developments
referred to there is but one adverse fac
tor, and the labor disturbances in the sew
eral quarters are not considered likely to
be long continued drawbacks and promise
not to very generally affect the trades in
yolved.
Speculation has made bank cIearings
at New York extremely heavy, gain Of
1928 per cent being shown as compared
with 1900 and 1850 per cent over 1893, while
outside New York there are gains of 29.5
per cent over 1900 and 311 per cent over
1899. Railway earnings also continue in
creasing, the first week of May showing
a gain of 105 per cent over last year and
24.2 per cent over 1899
Less urgency for early delivery of iron
and steel products was reported at manu-
featuring centres, and overworked oper-
ators expressed relief rather than disap
pointment at the more quiet condition.
Unusual activity is seen in agricultural
supplies and some noteworthy shipments
were reported during the week while
makers of this class of machine purchase
freely of bar iron Structural shapes are
in such active domestic demand that little
attention is given to available foreign con-
tracts.
'Forwardings of boots and shoes from
Boston for the last two weeks reached
the exceptional total of 207,302 cases. or As
per cent more than in the corresponding
weeks of 1900, and since January l ship
ments exceeded last years by III cases,
while the increase over all other pre-
vious years was much more. Heavy sole
leather is still strong and active Another
advance occurred in dry hides in this city
and Chicago prices are sustained.
Both wheat and corn continue to sell
at more than 10 cents bushel above the
price at this date last year, and the fiuc-
tuations in speculative options are much
wider. Contracts in May corn have been
closed at phenomenal prices, owing to
clever manipulation at Chicago, and next
crop options are sustained beyond the
prices warranted by encouraging crop re-
ports.
Cotton fails to maintain the small ad-
vance made at the close of last week,
liberal port receipts promptly restoring
the lowest quotation of the season. Yet
there is more encouragement than at any
time recently in the size of exports and
purchases by domestic mills.
In the cotton goods market conserVa-
tism is still displayed by buyers, and
lower prices are looked for in some di-
rections. There has been more business
in the retail trade with better weather
conditions, but this has not yet been re-
fected in other divisions.
Financial affairs were in a turmoil all
the week The banks believe that the
critical position is passed, although hqui-
dation will probably be seen on every
rise in the market for some time to come.
The money market recovered rapidly from
the tension of last week. The currency
movement from the interior gained cash
for the banks but liberal shipments were
made at one time to New Orleans. E,X-
change was alternately strong and weak.
Foreign commerce in April. as shown
by the official report, was most SattSfac-
tory Merchandise exports were valued
at Sl20 -0. $50, exceeding the same month
of any other year. anG imports were
worth SIC, 75o,9S2
Failures for the week numbered III in
the United States against III last year,
and 19 in Canada. against 30 last year