The sun., 1901-08-17
THE STATE OF TRADE.
Comment by Dun's Review on the
Business of the Week.
EFFECTS OF STEEL STRIKE.
Prices Up, Particularly on Sales Fol-
Immediate Delivery, tho Advance
Being Reported Most Notices
able In TIN Plates.

New York, Aug. t8.-fs. @. Dun 81
Co.'s weekly review OF trade saysi
The distribution OF merchandise has
proceeded this week on d steady and
satisfactory scale throughout the east,
and in the west and southwest the re-
lief from the long drought and heat is
beginning to be reflected In larger re-
tail trade. SO that for the quarter
promise is held out Of larger business
than last year. Crop conditions In the
territory most affected by the recent
drought are improving, and the wealth
er has been highly favorable In nearly
all districts east Of the Missouri river,
though rains have interrupted the
spring wheat harvest.
There has been sufficient interruption
by the steel strike during the past six
weeks to affect prices extensively, par
ticularly on sales for immediate de-
livery. In tin plates the advance has
been greatest while hoops, sheet, skelp
and billets are sold at premiums. Quo
tations are too erratic for accurate
record, and in many eases sales are at
private terms. Confidence Is shown by
placing of distant deliveries at regular
prices. Pig iron production on Aug. !,
according TO The Iron Age, was at the
rate OF BOB. 3.S47 tons weekly, loss of
only hob tons from the active capacity
ON July 1. With such trifing de-
crease in output 1t Is remarkable that
furnace stocks declined $500 tons.
Consumption has undoubtedly been
further curtailed this month, hut re-
vival Of exports tends to prevent ac.
emulation.
New England boot and shoe factories
are still actively engaged and the sta
hility of prices remains II feature. New
York and western shops are equally
busy, jobbers complaining of slow de-
liyeries. This is the season of greatest
demand for boots and there Is a fair
volume of business. but each year a
decrease In output appears. City re-
tailers are now putting in large sup
plies of children's school shoes.
Leather sells freely. but without change
in price. while slightly lower bids for
hides will probably secure large lots.
Wooden Mills Busy.
Wooden mills have full employment
as n rule. and the increased consump-
tion of raw material tends to harden
| the tone OF the wool market although
no quotable change Is possible. Pur-
chases by manufacturers, together
with much speculative buying, have
made the volume Of sales exceptional
Official figures of condition We're far
more hopeless than even the most pessi-
mistic anticipations. indicating only
about 2,0o0.WN.0O0 bushels of wheat
and corn together Disregarding the
departments record for underestimate
Ing, and the striking gain in conditions
since Aug. /, traders in the grain mar
ket forced quotations of corn on Mon
day up to the highest point of the sea.
son. Inflated prices brought out re.
ceipts for the week of 2,359, ,705 bush.
els. against 2,032, 1913 last year, and re
duced Atlantic exports to 631 .506 bush
els, compared with 2,362.335 yeal
ago and 4.O3I.3O2 in 1899. Wheat alst
advanced sharply, but there is sount
argument for strength in Atlantic ex
, ports during the last two weeks O
13aI9,o3i bushels, against 4,37S,901 II
100 and 4,si6,64G two years ago.
Cotton prospects having material.
improved and with average weathe
during the next few weeks, there
reason to expect yield equal to If nc
larger than the one preceding. Picl
Ing will he about three weeks late
than usual. and the high wages an
scarcity of labor may cause some los
Financially the south is in bette
position than ever before, planter
: have mortgaged less of their croT
I than usual and the banks will M
! draw on New York as heavily as her
toforc. Prospect of reduction {
wages at Fall River threatens to pr
: cipitate general strike, which will in
G prove the situation by preventing fu
! ther accumulation of goods. The ra
\ material, however, will not benefit |
the proposed loss in consumption, al
: there is little activity, with prices st
8 $40 bale less than year ago.
n Failures for the week numbered 1,
h In the United States against 161 la
G year and 10 in Canada against "a Ia
q year