The Washington times., 1901-11-30
DUN's REVIEW OF TRADE.
Lack of Cars II Hindrance to Per.
feet Trade Conditions.


NEW YORK, Nov. 29.-Dun's review to-
morrow will say:
When consumptive demand equals or
exceeds supply and prices are firmly held
at an exceptionally high level it is gen.
orally considered that there is little to
be desired in the business situations.
TirvsU favtvT5 IN Guidance to an
unusual extent. yet many industries are
halting.
The principal disturbing element is the
lack OF cars to handle the phenomenal
shipments that are urgently needed. To
this must be added the delay caused by
extensive changes under way at many
railway terminals. where better facilities
are being prepared, but in the meantime
regular work is handicapped.
In the same connection there have ap-
peared numerous labor controversies
among switchmen, freight handlers, river
pilots, miners, and other allied workmen.
which combine 10 make the problem of
transportation most intricate. Although
the movement of grain to interior cities is
at the rate Of nearly three million bush
els daily, the Westward traffic of mer-
chandise is so unprecedented as to neces-
state the return of empty cars.
What the railroads might be earning
under the most favorable conditions may
be surmised from reports for November
thus far, which show gains Of 9.S per cent
over last year and II per cent over 1899,
despite delays.
ANY loss of general trade due to the
holiday was more than made up by the
phenomenal preparations of the preceding
days and the dealings in special lines.
Bank clearings for the week made the
customary favorable comparisons; at New
York exceeding last year by IA per cent,
and 1899 by i2 per cent, while at other
leading cities the gains were Ia and 80
per cent. respectively.
"A general advance in the price OF pig
iron indicates that record breaking activ-
ity at furnaces fails to produce aecumu-
latiOn of supplies. Steel mills are seek
ing material urgently and Bessemer pig
for prompt delivery at Pittsburg is not
available below $3.50. Large sales of
forge and foundry iron are reported at
further advances, and Southern iron in
the Chicago market is also higher.
'Shoe shops at the East are fully en-
ployed, while Western producers were
never before so actively engaged. The only
section where factories are not enjoying
satisfactory business is in this immediate
vicinity. and local concerns do not pro-
vide a large proportion of the aggregate
capacity.
Recent buying of cotton goods for China
has stimulated the export movement. and
for the year thus far the value shows an
increase over any preceding year. Asia
and South America are the leading Gus
toners Domestic trade is of good vol
ume and mills are busy
Conditions are even more favorable al
wooden mills, one concern refusing large
order for delivery in February. Heavy
weight goods are very active with re-
tailers and jobbers.
Another very high record for the sea
son was established by corn. not alone
because Of speculative operations, al
though these were most aggressive at the
West. Domestic requirements alone pre-
vide the elements of strength, for outside
buying is only about Is per cent of the
business in previous years. Wheat also
held firmly, closing the week more than
four cents a bushel above the price a
year ago, which is most satisfactory, in
view of the vast increase in yield
Without eny support from the public
there was distinct strength and confidence
in Wall Street. Stocks appear to be in
strong hands. and there is no evidence
of eagerness to sell. There was no fur
ther engagement of gold for export, and
rates for money worked easier
Failures for The week numbered 1S2
in the United States, against IT'S last
year. and % in Canada, against 4 last
year.