The times., 1901-06-29
DUN's REVIEW OF TRADE.
Business Not Affected by the Recent
Financial Difficulties.

NEW YORK, June 2s-Dun's review to-
morrow will say:
1T does not follow because bad bank
ing methods have caused one OF the
smaller New York banks to close its
doors. with attendant circumstances that
create discussion in Wall Street, that
general business is in any way affected
by or at all responsible for the trouble.
The country is undeniably prosperous.
and with prospect of an abundant har-
vest to supply our own needs and increas-
ing European deficiencies, the situation is
viewed with confidence.
"A few more labor disturbances have
arisen. but others have been settled, not
ably the dispute over the tin plate scale.
Some disagreements in the coal regions
at times assumed a threatening aspect,
but the troubles have been local and do
not affect the mining industry.
Reports from the country speak of a
continued active movement of merchan-
disc with the jobbing trade and embrac-
ing nearly all lines. Bank clearings at
New York for the week gained 71.6 per
cent over 1860 and AL over 1899: at lead
ing cities outside New York there was
a gain of 1S.2 per cent over 1900 and 17.6
over 1889. Railroad earnings for June
thus far reported exceed last years by
s6 per cent and 1893 by 22.9 per cent.
THE fiscal year closes with conditions
in the iron and steel industry in marked
contrast to the situf ton at the corre-
spending date in 1900. This year difficulty
is experienced in stopping machinery long
enough to make necessary repairs. Prices
are well maintained and steady, without
unreasonable imitation, while a successful
season makes it possible for many con-
Germs to avoid controversy by voluntarily
reducing hours or advancing wages, and
evidences of serious disagreement are
the exception.
Footwear forwardings from Boston
have averaged over 10000 cases weekly
for two months, raising the total for the
half year to 2,95s. .521 cases. Leather is ac-
tive and firm. with hemlock sole in good
export demand. Upper leather is selling
freely, though not equaling the activity
in sole.
Wheat prospects are further improved.
according TO reports from correspondents
of r. G. Dun & Co. throughout the entire
producing region. More satisfactory to
the producer than evidences of a banner
yield is the failure of quotations to show
profit at the present prices. Foreign
needs continue the sustaining influence.
In four weeks Atlantic exports, -four in
cluded, aggregate 1865. 600 bushels,
1899. while Pacific exports were 3,505, 400
bushels, compared with 2,753.97S in 1860 and
2, AS, ,740 two years ago. Corn is supported
by reports of injury and receipts are less
than half last years, but the export
movement is equally unsatisfactory.
wheels at textile mills are no longer
generally idle. Improvement in all
branches of this industry has come with
a rush and manufacturers are making up
some earlier losses. Gains are more con-
spicuous in the wooden goods division be-
cause depression has lasted longer and
been more severe. Last week gains in
cotton goods have been held and there is
more business than at any time this sea
SON Prices are still unsatisfactory and
especially in view of the further rise in
raw material Many reports of injury to
growing cotton tend to advance prices
in the face of heavy receipts on the old
crop.
Stocks made strong start on good
railroad earnings and investment pur-
chases, with a notably good demand for
bonds Then the market reacted on the
heavy selling connected with the bank
trouble and a tight money market. For
eign exchange was weak. The important
new factor in the market was the heavy
sales of commercial bills for future de-
livery, chiefly against grain.
Failures for the week numbered 2o4 in
the United States, against 207 last year,
and q in Canada, against q last year"