The times. [volume] (Washington [D.C.]) 1897-1901, 1901-03-23
DUNs REVIEW OF TRADE.
General Business Marked by In
creased Retail Operations.

NEW YORK, March 22-Dun's review
tomorrow will say:
The position of general business is
satisfactory. being marked this week bv
| increased activity of retail operations
| throughout the West and in some At
| lantic seaboard cities, which is consid-
cred the forerunner of a generally good
1 spring trade.
New enterprise is reflected I'm the
! largest demand for many months for
/ builders hardware and general mate
rails, and contracts for prompt delivery
| of all structural goods are very diff
/ cult to place. Collections are prompt.
I and railroad tonnage is we'll maintained.
Earnings of all railroads for the month of
March to date show gain of los per cent
| over last year and SO per cent over 1899.
| The gains extend to practically the whole
country.
THE textile industry alone does not
| improve Short time has been adopted
| by Fall River cotton mills, and there are
reports that some of the Southern weav-
| ing mills are about to curtail production:
but this has been without special effect
upon demand for either print cloths or
heavy brown cottons There is satisfac-
ton in the fact that prices have not fur
ther declined this week, and by some
the market is called steadier on the cur
rent low basis.
Bank clearing show Sc per cent gain
over last year at New York. with 335
per cent gain over 1899, while outside
New York the increases are 25.2 per cent
and 16.S per cent, respectively.
Quotations of pig iron and finished
steel tend toward a higher level There
10 ctfI he xrb oil
servatism which prevents VOL mt fiuctua-
tions and keeps the advance at a mod
crate rate, but the tendency of the market
is undeniably toward better things.
Cotton. earlier in the season. was arti-
ficially supported by speculation in dc
fiance of every legitimate influence for a
lower level. Shipping was overdone. both
here and abroad, and efforts to advance
the finished product in proportion to the
higher raw material decreased sales un-
til the wheels were stopped by accumula-
ton of goods. Exports in February were
275. 226 bales less than in the same month
of 1900. and the first half of March shows
a further loss in foreign buying.
The amount still coming forward at
the South indicates that plantation
stocks are by no means exhausted and
preparation for the new crop promises an
enormous acreage. From the top point
of the season the price has fallen SlS.45
a bale. and the only apparent element Of
strength at present is the oversold con-
dition of the speculative market.
"A sharp rise in foreign exchange was
the feature in financial circles. The
money market is steady and has lost
most of its terror even for small stock
traders, who have acted OF late as though
the market must follow each variation in
call loans.
with cash reserves so heavy. current
changes are OF small significance. and
belief in a further reduction Of loans as
bonds made in recent railroad deals are
marketed with investors is general in
higher financial circles. This selling of
bonds will enable underwriters 10 curtail
their obligations to their banks The
interior currency movement continues IA
vor;Ibe to New York banks in spite Of a
slightly firmer rate for money in the
West but the gain from this source
served only to reduce by one-half the loss
10y heavy customs collections.
Failures for the week number ~ in
the United States. against lS3 last year
ana 30 in Canada, against q last year