The Washington times., 1901-08-03
DUN'S REVIEW OF TRADE.
The General situation Improved
Within the Week IwSt Past

1
NEW YORK, Aug. 2.-Duns review to
row viii say:
| Continued favorable weather condi
tons have resulted in the saving of much
| iate-planted corn. and in the Northwes
| ideal weather for spring wheat harvest
has been enjoyed. AS this is the point
that business in all parts of the country
| has been most carefully watching, the
| general situation is better than Il week
| ago. although the disposition on botf
| sides to settle the steel strike has not
yet resulted in any agreement. and the
| labor situation Is thus kept prominent.
| THE excellent business enjoyed in some
| important lines is illustrated by the re-
| fusal of the American Woolen Company
| to take further orders on the goods il
recently opened, as mill capacity has been
| reached Some of these could have been
sold twice over Collections are prompt
Railroad earnings for July thus far re-
| ported increased 10l per cent over last
year and 23.2 over 1889. Bank clearings
| at New York gained iS.S per cent over
| last year and ia over 1899, while at lead
| ing cities outside New York the gain is
1873 per cent over last year and So per
cent over 1899.
Prices of commodities are firm. Dun 5
index number, accurately indicating the
| cost of living by taking quantities OF
each commodity, according to the amount
consumed, shows an advance to S955.50 on
August / The rise of AZ per cent in
July was largely due to the effect of
weather conditions on farm products,
breadstuffs alone advancing Y per cent.
Official returns of pig iron production in
the first half of the year show a record
breaking aggregate Of 7.5H,1l3 tons, eX-
ceeding the remarkable output of the pre-
vious year by 32.0H tons. The second
half of 1891 has opened with much greater
capacity of active furnaces and the full
year promises a considerably larger total
than the IL. .7S9.2i2 tons produced in 1879.
Violent fluctuations have marked the
course of corn prices. The top point of
the previous week WAS not regained. but
traders on the short side of the market
Were compelled to cover at a loss. Clever
manipulation has been conspicuous
throughout the season, and holders of old
corn have received high prices for the
weeks receipts of 2.i13.602 bushels. The
decrease in marketing is not in proportion
to the advance in price.
Whatever benefit may have accrued
from the hign level of prices. it certainly
has driven foreign buyers out OF the mar
ket. Atlantic exports for the week
amounted to only 164,l,S bushels, against
3,1o5.93l a year ago. and 40lS,49f two years
ago, at a difference in price OF Is and 70
cents, respectively. Wheat is of less
interest to spectators, but in legitimate
trading it is especially active, Western
receipts for the week reaching 6.5CS. al
bushels, against 5,C20.761 last year, and
1885, two years ago, while Atlantic ex-
ports were 4,S15.996 bushels, against 2373,-
I9S in 1860. and ,, S,765,7s7 in 1899.
Dealers in some drought-stricken dis
tricts have countermanded orders for
footwear, and these cancellations are felt
mainly by Western makers. but as a
whole the industry is in u healthy post
tion. Wool has ar last risen slightly
above the lowest point in, four years. The
cotton market awaits the Government re-
port in dull and weak position.
The money market worked a little
closer with shipments of currency for
crop movement, withdrawal of some
treasury bank deposits and several spe-
cial operations in progress. Long loaus
at per cent We're still available how
ever. There was not sufficient advance
in money to affect stock speculation.
The market was strong at first on crop
news, and the prospect of a strike set
tlement, but sold off again on the fail
ure of the meeting of the Amalgamated
Association to agree promptly on a basis
OF settlement
Failures were 697 in July, against 1913
last year and SI,C35,933 in amount OF liza
bilities, against 50, ,T5 in 1900''