The sun., 1901-04-13
TEXTILES SHOW A gain
Tone of General Business Also Better,
Says Dun's Review.
STATE OF METAL INDUSTRY
Speculation Very Heavy In Food
stuns, the New York Market Aver
aging over Two Million Bush
els of Wheat Daily.

New YORK, April 1Z.--h. ". Duu q
Co.'s weekly review Of trade says:
The tone of general business has
been better this week. Marked activ-
ity in the distribution of merchandise
is reflected in the gains of 45.9 per cent
in bank clearings at New York COM
pared with 1900 and 20.S per cent over
1899, with gains of 1875 and 10.S for
the same periods at leading cities out
side New York. Even the textile mar
kets show pronounced gain.
Pig iron production on April l. ac-
cording to The Iron Age, was at the
rate of 296,676 tons weekly. This guam
tity has been exceeded twice in the
history of the industry-on Dec. l, 1899,
when 296,959 tons were produced, and
on Feb. i, 1900, when the output was
2DS,014 tons. The remarkable feature
of the situation is the decrease of 3D.
56S tons in furnace stocks during
March in the face of this enormous
production, while in six months the
loss in supply has amounted to 2O3,0o6
tons.
Mills are evidently taking material
freely, as at the earlier dates when the
yield of pig was at the present high
rate there was accumulation at fur
naces. Quotations are generally steady
for all forms except plates. on which
81 a ton more is demanded without re-
stricting purchases. Contracts for de-
livery of pig iron do not as rule ex-
tend beyond the end of this month.
and furnace stocks cannot be expected
to continue decreasing unless new bust
ness comes forward. for many fur
naces have gone into blast since the
month opened.
Manufacturers have taken two large
export orders for rails and structural
material, despite the active domestic
business. Bessemer ore prices We're
fixed at a reduction of S1.25 from last
years list, which was surprising in
view of the advance of products.
Speculation In Foodstufs.
Speculation has been unusually
heavy in foodstuffs. the local market
averaging over 2,OOO,0OO bushels of
wheat daily. Prices receded sharply
from the top point of two weeks ago,
wheat losing about 4 cents for spot.
Realizing sales We're accelerated by eX-
pectation of high percentage of win
ter wheat condition in the official re-
port, Anticipations We're fully real.
ized when the statement indicated a
crop of about 10000, 100 bushels. Two
elements Of strength appeared to check
the decline and cause some recovery;
insects We're reported numerous in the
southwestern section, and foreign buy
ing was sufficient to make Atlantic ex
ports, -four included, 6,732, 900 bushels
in two weeks. against 3,912, ,S51 last
year and 3,S90.3S0 in 1899. Corn re
ccived better support by manipulation
and lighter interior receipts.
Textile fabrics are in better position
although improvement is slight ant
confined to few special lines. Al
eastern wool markets manufacturers
have taken sufficient new material ol
late to indicate better orders for goods
and news from the west suggests tha
ranch owners are going to hold for bet
ter prices than now prevail. In thu
cotton goods division there has beer
, more buying for China. while sprin:
dry goods openings make encouragin:
exhibits. The raw material lost mos
o. last weeks gain, spectators max
ing no resistance to the weakening in
tluence of larger receipts and lighte
, exports than a year ago. Besides TIL
I intentional cultailment of spinning
. there has been further reduction 0
I operations by spring foods.
J Failures for the week numbered 90
;. III the United States. against 1913 las
year, and a in Canada, against II las
year.